Best Savings Rates in Singapore
Top fixed deposit and savings account rates, refreshed regularly from published bank promotions.
Fixed Deposits
Updated 5 September 2026| Bank | Rate p.a. | Tenure | Min Deposit |
|---|---|---|---|
| HL Bank Top | 1.80% | 12m | $10,000 |
| GXS | 1.75% | 12m | $100 |
| Bank of China | 1.75% | 12m | $200,000 |
| CIMB | 1.70% | 9m | $10,000 |
| CIMB | 1.70% | 12m | $10,000 |
| Standard Chartered | 1.70% | 6m | $25,000 |
| Bank of China | 1.65% | 12m | $500 |
| RHB | 1.65% | 12m | $20,000 |
Savings Accounts
Verified 15 June 2026Max achievable rates, requires meeting the bank's qualifying criteria (typically: salary credit, minimum card spend, sometimes a loan or insurance).
OCBC 360
1.70%
Salary + spend + grow
Cap: $75k balance
UOB One
3.40%
Salary + $500 spend
Cap: $150k balance
DBS Multiplier
4.10%
Multi-category required
Cap: $100k balance
Note: Savings account rates shown are the maximum achievable rate under the most favourable qualifying scenario. Actual blended rates depend on your balance and how many bonus categories you qualify for. Rates as of 15 June 2026, verify on the bank's own site before switching.
Buying a home?
Current HDB concessionary loan rate is 2.6% p.a. (pegged to CPF OA rate + 0.1%). Bank loan rates vary from 2.8–3.8% depending on package.
Common Questions
What is the best fixed deposit rate in Singapore in 2026?
The top promotional FD rate is currently 1.80% p.a. from HL Bank on a 12-month tenure (minimum deposit $10,000). For smaller amounts (under $1,000), GXS offers 1.75% p.a. with a minimum of $100. Rates change frequently, check the full FD table for live updates.
Is DBS Multiplier or UOB One better?
DBS Multiplier offers up to 4.10% p.a. but requires multiple transaction categories (salary credit, card spend, home loan, insurance), the more categories you hit, the higher your rate. UOB One offers up to 3.40% p.a. with simpler criteria: salary credit + $500 card spend, with a blended rate that scales with balance up to $150,000. For most salaried Singaporeans who just want salary credit + spend, UOB One is easier to optimise. If you already bank with DBS for your home loan or insurance, the Multiplier tiers become competitive.
Should I put my emergency fund in a FD or savings account?
Emergency funds should stay liquid, avoid fixed deposits for this money, since breaking an FD early usually forfeits the interest. A high-yield savings account (OCBC 360, UOB One, or DBS Multiplier) gives you the interest bonus while keeping funds accessible. For money you won't need for 6–12 months (like your 7th–12th month of expenses), a FD makes sense if the promotional rate beats your savings account yield.
Are Singapore savings account interest rates taxable?
No. Singapore residents do not pay income tax on interest earned from deposits held at Singapore-licensed banks. This makes high-yield savings accounts especially attractive compared to equivalent instruments in other jurisdictions.