High Interest Savings Account Singapore 2026: Best Rates

There’s a moment every Singaporean saver knows — when you look at your bank statement and realise your “savings account” is earning next to nothing. The good news? The best high interest savings accounts in Singapore for 2026 can pay up to 7.51% p.a. — but only if you meet specific conditions. This guide breaks down which accounts actually deliver for your income and savings level.

Highest savings account rate in Singapore: 7.51% p.a. (Citigold) ·
Highest rate for accounts with salary credit: 5.85% p.a. (Standard Chartered Bonus$aver) ·
Average savings account base rate: 0.05% p.a.

Which bank gives 7% interest on savings?

The pattern for 7% rates in Singapore is clear: they exist, but they’re tied to wealth tier and multi-criteria conditions that most savers don’t meet.

Which banks offer 7% on savings?

Only Citibank’s wealth-tier accounts offer rates above 7% p.a. as of February 2026. The Citi Wealth First Account can reach up to 7.51% p.a., depending on whether you hold a Citibanking, Citi Priority, Citigold, or Citigold Private Client tier, according to StashAway (licensed robo-advisor). But this rate is reserved for high net worth customers.

• Standard Chartered BonusSaver hit 8.05% p.a. in June 2025 but dropped to 7.05% p.a. by January 2026, AsiaOne (Singapore lifestyle & finance outlet) reports.
• UOB One lists headline rates up to 7.80% p.a. but effective rates depend on meeting multi-criteria conditions, per Seedly (financial comparison platform).
• No fixed deposit product currently offers 7% p.a. — the highest fixed deposit rates in Singapore are around 3-4% p.a.

Requirements for 7% interest rate

To earn Citibank’s 7.51% p.a., you need a minimum deposit of $200,000 and enrolment in multiple banking relationships including investments or insurance, according to StashAway (licensed robo-advisor). Similarly, Standard Chartered’s Bonus$aver requires salary credit of $5,000 monthly and at least $500 in credit card spend.

Alternatives if you don’t qualify

If you can’t meet the $200,000 threshold or salary credit requirements, several accounts offer competitive rates without the steep barriers:

• Trust Bank Savings Account: Up to 3.8% p.a. with no salary credit required — just spend and save, per Seedly (financial comparison platform).
• Bank of China Smart Saver: Up to 4.60% p.a. on first $100,000 with four criteria — AsiaOne (Singapore lifestyle & finance outlet).
• Maybank Save Up: Up to 3.33% p.a. on first $75,000 with three criteria — AsiaOne (Singapore lifestyle & finance outlet).
• CIMB FastSaver: Up to 2.00% p.a. on first $25,000 with two criteria — AsiaOne (Singapore lifestyle & finance outlet).

The trade-off: these accounts are more accessible but their bonus interest caps are lower, so the absolute interest you earn on larger sums is limited.

What is the best account to put a large sum of money in?

If you’re parking $100,000 or more, your choice depends on whether you can meet bonus criteria consistently.

Best accounts for $100,000 in Singapore

Four accounts stand out for large deposits, one pattern: each rewards specific banking behaviours but caps bonus interest:

The implication: putting your entire $100,000 in one account may cap your returns. Spreading the sum across two accounts — say, Standard Chartered Bonus$aver and OCBC 360 — could earn you more if you meet both sets of criteria, but that doubles the administrative burden.

Fixed deposit vs savings account for large sum

For a $100,000 deposit, a fixed deposit locks in a guaranteed rate — currently around 3-4% p.a. for 6-to-12-month tenures — but your money is inaccessible for that period. A high interest savings account offers flexibility but requires active management. The editorial takeaway: if you can meet bonus criteria, a savings account likely out-earns a fixed deposit. If you can’t, the certainty of a fixed deposit may be more dependable.

Where to put money to earn interest in Singapore?

Parking money in a standard savings account earning 0.05% p.a. means losing purchasing power to inflation. Here are the options ranked by accessibility and return, one pattern: higher returns demand either active management or locking your money away.

High interest savings accounts

• Best for salary earners: Standard Chartered Bonus$aver (up to 5.85% p.a.) and OCBC 360 (up to 5.45% p.a.) reward salary credit and card spend.
• Best without salary credit: Trust Bank (up to 3.8% p.a.) and CIMB FastSaver (up to 2.00% p.a. on first $25,000 with criteria).
• Best for high net worth: Citi Wealth First Account (up to 7.51% p.a., requires $200,000).

Fixed deposits

Singapore’s current fixed deposit rates range from roughly 3% to 4% p.a. for tenures of 6 to 24 months, according to bank websites. RHB Singapore Fixed Deposit rates are one benchmark. The main trade-off: your money is locked in — early withdrawal penalties apply.

Money market funds and Treasury bills (T-bills)

T-bills recently offered yields above 3% p.a. and are considered low-risk because they’re backed by the Singapore government. Money market funds offer slightly less but allow daily liquidity. MAS (Singapore’s central bank and financial regulator) provides guidance on these instruments.

The CPF Special Account offers a guaranteed 4.08% p.a. (as of 2026), which is higher than most savings accounts — but money is locked until retirement age.

How to double 100K quickly?

Realistic expectations for doubling money

Let’s be direct: a savings account will not double $100,000 quickly. At 5% p.a., it takes roughly 14 years to double your money (Rule of 72: 72 ÷ 5 = 14.4 years). At 7.51% p.a., you’re looking at about 9.6 years — assuming the rate holds and you meet all bonus conditions every single month.

Investment options beyond savings

Doubling money faster requires taking on risk. Common approaches include:

• Dividend stocks and REITs: Singapore-listed REITs historically yield 5-7% annually in dividends.
• Index funds: The Straits Times Index has averaged around 7-8% annual returns over the long term.
• Equities: Individual stocks carry higher risk but also higher potential returns.

For a $100,000 sum, a diversified portfolio of 60% equities and 40% bonds could potentially double money in 8-10 years — but with notable volatility along the way. Consulting a financial advisor is recommended for individual circumstances.

How much interest will $100,000 make in a savings account?

Interest calculation on $100k at various rates

Here’s what $100,000 earns annually at different rates, assuming you meet all bonus criteria:

The pattern: the difference between earning 0.05% and 5.85% on $100,000 is $5,800 per year — enough for a modest holiday or several months of utility bills. But remember: most accounts cap bonus interest on the first $100,000, so any amount above that earns the base rate only. Also, interest earned is taxable in Singapore only under specific circumstances (business income, or for non-individuals).

For a detailed comparison of the best interest rate for savings account in Singapore, check out best interest rate for savings account for the latest April 2026 rates.

Frequently asked questions

For Singapore savers with a steady salary and discipline to meet bonus criteria, the path forward is clear: choose Standard Chartered Bonus$aver or OCBC 360 for the best balance of accessibility and yield. For those without salary credit, Trust Bank’s 3.8% p.a. is the most practical option — or consider fixed deposits and T-bills for guaranteed returns without the administrative overhead.