In 2025, Singapore’s banking landscape remains robust and competitive, driven by continued economic resilience, rising digital adoption, and assimilation of global financial innovations. Consumers now enjoy an abundance of savings solutions—from traditional high-interest savings accounts (HISAs), to fixed deposits, money-market funds, and investment-linked products. Despite the broader choice set, high-interest savings accounts retain their appeal for several compelling reasons.
Firstly, they blend convenience with liquidity: money remains accessible at all times without penalty, unlike fixed-term deposits. Secondly, they are typically very safe—especially when held with a bank insured under the Singapore Deposit Insurance Corporation (SDIC), up to S$75,000. Thirdly, with the rising cost of living and fluctuating interest rate expectations, consumers still prize simple, transparent returns. For many, the ideal remains a hungry HISA that pays reliably where they park spare funds.
What Makes a Good High-Interest Savings Account?
Before delving into specific contenders, it helps to clarify the qualities that distinguish a stand-out HISA:
- Base interest rate – the guaranteed minimum your money earns.
- Bonus interest structure – conditional enhancements (e.g. salary credit, spending thresholds, bill payments) that can substantially lift yields.
- Minimum deposit and balance requirements – whether you must start with or maintain a certain amount to earn interest or avoid fees.
- Fees and charges – monthly account fees, card-linked charges, dormancy rules, etc.
- Accessibility and digital banking features – quality of the mobile app, real-time transfers, integration with payment platforms like PayNow.
- Additional perks – such as cashback programmes, insurance tie-ups, or financial planning tools.
- Drawbacks – burdensome conditions, sharp drop-off of bonus tiers, or time-consuming fulfilment of requirements.
When comparing options, balance headline interest with real-world practicality: a 3% p.a. aggregate rate is only meaningful if you can realistically meet the criteria each month without turning it into an inflexible chore.
Top High-Interest Savings Accounts in Singapore 2025
Below is a thematic ranking of standout HISA offerings. Note that actual interest figures and perks may shift month-to-month, so always check the bank’s website or app for the latest rates at the time of application.
- Best for Young Professionals – Hong Leong MAXOne Account
- Interest structure: Base 1% p.a., plus up to 3% p.a. bonus for salary crediting, spending on a linked card, and paying a recurring bill – enabling up to 4% p.a.
- Eligibility: Open to SG residents aged 21–35.
- Perks: Lifestyle and travel rewards via credit card promotions, plus occasional interest-boosting campaigns.
- Drawbacks: Bonus requires minimum spending and bill payments each month—may be tough for minimalist spenders.
- Best for Families – OCBC 360 Account
- Interest structure: Base 0.05% to 0.25% p.a. depending on balance tier; bonus tiers for salary crediting, insuring with OCBC, or mortgage payments—can reach around 3–3.5% p.a.
- Eligibility: Open to all.
- Perks: Integrated if you have other OCBC products—makes it convenient to consolidate finances.
- Drawbacks: Balances over certain thresholds earn less base interest; achieving all bonus categories may require multiple products.
- Best for Expats – UOB One Account
- Interest structure: Base 0.05% p.a., plus up to 2.5% bonus for salary crediting, minimum spending, policy coverage—totalling 2.5–2.55% p.a.
- Eligibility: Open to local and foreign residents, but salary must be credited in SGD.
- Perks: No minimum bank balance fee if you meet criteria; decent digital interface.
- Drawbacks: Bonus thresholds must be met each qualification month; otherwise, rates revert to near-zero.
- Best for Digital Natives – Standard Chartered JumpStart
- Interest structure: Flat 2% p.a. for first S$30,000 if you credit salary and transact via debit card.
- Eligibility: New-to-bank and existing clients, salary crediting required.
- Perks: App-centric banking with strong analytics, savings tools, and responsive chat support.
- Drawbacks: Rate drops steeply after the cap; digital expectations may frustrate those preferring branch service.
- Best No-Hassle Option – Citibank Wealth Builder
- Interest structure: Tiered interest up to approximately 1.75% p.a., with modest bonus for debit card spending.
- Eligibility: Requires Citi account, credit card debit transactions.
- Perks: Seamless interface within CitiPlus/Worth bundle; everyday spending feeds directly into savings bonus.
- Drawbacks: Bonuses modest compared to other accounts; base rate low if you don’t spend.
Comparative Table
| Account | Base Rate (p.a.) | Max Bonus Rate (p.a.) | Eligibility | Key Conditions |
|---|---|---|---|---|
| Hong Leong MAXOne | ~1.00% | Up to +3.00% | SG residents, age 21–35 | Salary, spend, bill |
| OCBC 360 | ~0.05–0.25% | Up to +3.50% | Everyone | Salary, insurance, mortgage bills |
| UOB One | ~0.05% | Up to +2.50% | Residents (salary credited SG) | Salary, spend, policy |
| SC JumpStart | Flat ~2.00%* | – | Everyone, salary credited | Salary + debit transactions |
| Citibank Wealth Builder | ~0.10–0.60% | Up to ~1.15% | Citi account holders | Debit spending |
*Applies to first S$30,000 only.
Tips to Maximise Interest Earnings
- Salary Credit
Many HISAs require salary crediting to trigger bonus interest. Consider redirecting your payroll into the account or setting up GIRO if you’re self-employed. Missing salary credit can erase bonus entirely. - Spending Requirements
Linked-debit or credit-card spend is another frequent condition. Ensure any required S$500–S$2,000 spend aligns with normal expenses—don’t overspend just to chase interest. - Recurring Bill Payments
Use the account for utility bills, mobile plans, insurance premiums, or subscriptions. Automating these ensures your bonus criterion is met without additional thought. - Minimum Balance Maintenance
Keep the required balance—often between S$1,000 and S$5,000—to earn full interest. Letting balances dip could zero out earned interest for the month. - Combine Bonuses Strategically
With flexible accounts such as OCBC 360, stacking different fulfilments (e.g. insurance + mortgage + salary) can meaningfully elevate yields. But ensure you’re consolidating services you genuinely use. - Stagger Multiple Accounts
If you’re chasing maximised overall yield, maintain more than one HISA—perhaps one for low-maintenance savings (like SC JumpStart) and another flexible one for ramping up returns when conditions allow. - Avoid Pitfalls
- Don’t miss a monthly criterion—some banks drop you back to base rate immediately.
- Exceeding tier caps means the remainder earns far less.
- Going inactive or culprit in fraud triggers may result in dormancy fees or account closure.
Conclusion
As of mid-2025, Singaporeans and expatriates have a wide range of high-interest savings accounts (HISAs) to suit different financial goals. Young professionals may find the Hong Leong MAXOne attractive for its high rates if they meet usage criteria. Families can benefit from OCBC 360, which rewards customers who bundle salary crediting, insurance, and mortgage payments. Expats might prefer UOB One, offering solid returns when salaries are credited in SGD and card spending requirements are met. Digital-first savers may appreciate Standard Chartered JumpStart for its flat rate on smaller balances, while low-effort savers could opt for Citibank Wealth Builder for steady, hands-off returns. HISAs combine liquidity, safety, and competitive interest—making them a valuable tool for growing savings. Reviewing options regularly ensures you capture the best available rates and perks. By choosing the right account and meeting its conditions, you can keep your money working harder without sacrificing accessibility.