Do you know what are the Best High Interest Savings Accounts in June 2025? In today’s economic climate, letting your money sit idle in a low-interest savings account is akin to leaving potential gains on the table. For savvy Singaporeans looking to make their cash work harder without venturing into higher-risk investments, high yield savings accounts offer an attractive solution. These accounts provide significantly better interest rates than traditional savings options, often by rewarding users for meeting certain conditions.
Below, I found some of the top high interest savings accounts in Singapore as of June 2025, helping you understand their features, requirements, and who they are best suited for. You may already own some of these high interest yielding savings account.
What Are High Interest Savings Accounts?
Unlike basic savings accounts that offer negligible interest (often as low as 0.05% per annum), high yield accounts incentivize specific banking behaviours to unlock higher rates. Common conditions include:
- Salary Crediting: Directing your monthly salary to the account.
- Credit Card Spending: Meeting a minimum monthly spend on an associated credit card.
- Bill Payments: Setting up recurring bill payments via GIRO.
- Balance Growth: Maintaining or increasing your average daily balance.
- Investments/Insurance: Purchasing investment or insurance products through the bank.
It is crucial to look beyond the “maximum advertised interest rate” and understand the effective interest rate (EIR) you can realistically achieve based on your banking habits.
Best High Interest Savings Accounts in June 2025
Below, I have highlighted the potential maximum interest rates and typical requirements of some of the leading Singapore banks.
OCBC 360 Account
Maximum Interest Rate: Up to 3.30% per annum (on first S$100,000)
Key Requirements (to reach higher tiers):
- Salary credit (minimum S$1,800)
- Increase average daily balance (minimum S$500 increase monthly)
- Credit card spending (minimum S$500 on eligible OCBC cards)
- Optional: Insurance and/or investment purchases with OCBC.
Best For: Individuals who actively manage their finances, consistently credit their salary, and use OCBC credit cards for their daily spending. The tiered structure allows for good returns even if not all conditions are met.
Standard Chartered Bonus$aver Account
Maximum Interest Rate: Up to 8.05% per annum (on first S$100,000)
Key Requirements (to reach higher tiers):
- Salary credit (minimum S$3,000)
- Credit card spending (minimum S$1000 on Bonus$aver Cards)
- Optional: Insurance and/or investment purchases with Standard Chartered.
Best For: High-income earners who are already investing or insuring through Standard Chartered or are looking to consolidate their banking and wealth management with one institution.
UOB One Account
Maximum Interest Rate: Up to 5.30% per annum (on first S$150,000)
Key Requirements (to reach higher tiers):
- Salary credit (minimum S$1,600) or 3 GIRO payments monthly.
- Minimum S$500 spend on eligible UOB One Card or other UOB cards.
Best For: Salaried individuals who regularly use a UOB credit card for their expenses. It is known for having relatively straightforward conditions to unlock good interest rates.
DBS Multiplier Account
Maximum Interest Rate: Up to 4.10% per annum (on first S$100,000)
Key Requirements (to reach higher tiers):
- Credit income (salary/dividends).
- Transact in at least one other category: Spend (DBS/POSB credit cards), Insure (selected products), Invest (selected products), or Home Loan.
Best For: Existing DBS/POSB customers who conduct multiple banking activities with the bank. Its flexibility across various transaction categories makes it accessible for many.
CIMB FastSaver Account
Maximum Interest Rate: Up to 3.19% per annum (on first S$25,000)
Key Features:
- Offers competitive base interest without needing to meet additional criteria.
- No fall-below fees.
- Additional interest can be earned with salary credit or recurring transfers, and credit card spend.
Best For: Those seeking a fuss-free savings account with a decent base interest rate, especially for smaller balances. It’s a good option if you prefer not to juggle multiple conditions.
Trust Savings Account
Maximum Interest Rate: Up to 2.25% per annum (on first S$1.2 million)
Key Requirements (to reach higher tiers):
- Base rate + Bonus for minimum card transactions (e.g., 5 x S$30 qualifying transactions).
- Bonus for maintaining minimum Average Daily Balance (ADB).
- Bonus for salary crediting.
Best For: Customers comfortable with digital banking and looking for an account that offers good returns on higher balances, coupled with benefits for FairPrice Group purchases.
UOB Stash Account
Maximum Interest Rate: Up to 5.00% per annum
Key Requirement: Maintain or increase your Monthly Average Balance (MAB).
Best For: Long-term savers who prefer a simpler approach and are good at consistently growing their savings without needing to meet transactional requirements.
Summary of the Best High Interest Savings Accounts in June 2025
High interest savings accounts in Singapore offer a compelling way to boost your savings in a relatively low-risk environment. By understanding your own financial habits and carefully comparing the offerings from various banks, you can choose a high interest bank account in Singapore that truly maximizes your returns.
You should consider the following factors when choosing a high interest bank account in Singapore from any of the above list.
Your Banking Habits: Honestly assess if you can consistently meet the requirements (salary crediting, spending, etc.) to unlock the higher interest tiers.
Deposit Amount: Some accounts offer the best rates on specific balance tiers (e.g. first S$100,000). Consider how much you plan to save.
“Realistic” vs. “Maximum” Interest: Focus on the Effective Interest Rate (EIR) you’re likely to achieve, not just the highest advertised rate, which often requires fulfilling all conditions.
Hidden Fees/Conditions: Check for fall-below fees, monthly service charges, or other caveats.
Ease of Management: Consider how easy it is to track your progress towards earning bonus interest (e.g. via mobile banking apps).
Bank’s Ecosystem: If you already use certain banks for credit cards, loans, or investments, leveraging their integrated savings accounts might be more convenient.
Out of the above list of high interest bank account in Singapore, I have DBS Multiplier, UOB Stash Account, CIMB Fast Saver and OCBC 36 Account.
This is not a sponsored post and solely based on my own research and opinion. With falling interest rates, I believe everyone like me is looking for the best place to park your money to earn extra cash.
Last, remember to regularly review your account’s performance and the bank’s terms and conditions, as interest rates and requirements can change over time. Happy saving!