Best Savings Account Besides T-Bills, SSB and Fixed Deposits

Today, I discovered a best bank saving account beside investing in Singapore T-Bills (Singapore Treasury Bills), SSB (Singapore Savings Bonds) and Fixed Deposits. This bank saving account has been around for some time. When I looked into more details and compare it with where I have been putting in my money, the interest rate p.a. (per annum) is attractive.

Before revealing this new idea of mine, let us take a look at the interest rate (p.a.) offered by T-Bills, Singapore Savings Bonds and Fixed Deposits.

Singapore Savings Bonds (SSB)

Let me start with Singapore Savings Bonds. This is also where I have been regularly putting in my money.

Singapore Savings Bonds are fully backed by the Singapore Government. You can always get your investment amount back in full with no capital loss. The bonds are held for 10 years. Interest rate increases over time and you can exit your investment by redeeming the bonds in any given month. There are no penalties (except for the S$2 transaction fee).

As you can see from my stock portfolio, Singapore Savings Bonds make up 18.95% of my investment portfolio.

Singapore Savings Bonds SBJAN24 GX24010F

In 2023, the highest interest rate offered by Singapore Savings Bonds was 3.40% p.a. (SBDEC23).

Singapore Treasury Bills (T-Bills)

Another popular investment among Singaporeans is the Singapore Treasury Bills (T-Bills). Treasury bills (T-bills) are short-term Singapore Government Securities (SGS). They are issued at a discount to their face value. Investors receive the full face value at maturity.

The Singapore Government issues 6-month and 1-year T-bills.

Singapore Treasury Bills (T-Bills) 2023 Cut Off Yield

As you can see from the chart that I plotted above, the highest cut-off yield ever offered was 4.2% (BS23100Z). In recent months, the cut off yield hovers between 3.70% to 4.00%.

Fixed Deposits

Fixed deposits are the more popular option among our older citizens. This financial product have been around for the longest time. Does this ring the bell?. Often, you hear your grandparents or parents stashing away their life long savings for a period of 12 months or more into fixed deposits to earn higher interests on their savings.

The interest rates had gone frenzy over these 2 years. Thus, I have parked away spare cash into Fixed Deposits as well. Currently, I have six tranches of fixed deposits parked with CIMB Bank.

Revealed: Best Savings Account Besides T-Bills, SSB and Fixed Deposits

The best savings account that I discovered is the UOB Stash Account. The UOB Stash Account is probably offers the best interest rate for savings account in Singapore (with conditions met below).

By the way, this is not a sponsored post. This post is solely based on my own idea on how to make my money work for me.

You may want to ask, how comparable are the interest rates offered by UOB Stash Account to Singapore Treasure Bills, Singapore Savings Bonds and Fixed Deposits?

Let us revisit the interest rates offered by UOB Stash Account.

Monthly Average BalanceBase interest (p.a.)Bonus interest (p.a.)Total interest (p.a.)
First S$10,0000.05%0.00%0.05%
Next S$30,0000.05%1.95%2.00%
Next S$30,0000.05%2.95%3.00%
Next S$30,0000.05%4.95%5.00%
Above S$100,0000.05%0.00%0.05%

As you can see above, you will always earn the 0.05% base interest, regardless of how much you deposit into your UOB Stash account.

Where I am interested in is the 4.95% p.a. bonus interest where all you need to do is maintain or increase your Monthly Average Balance (MAB), as compared to the previous month.

However, please do not be mislead that you will earn 5% p.a. on the full account balance.

The interest is earned in tiers based on your account balance.

How Much Interest Will S$100K Earn You?

With a balance of S$100,000, the interest rates for each tier is:

  • S$0 – S$10,000 – 0.05% p.a.
  • S$10,001 – S$40,000 – 2% p.a.
  • S$40,001 – S$70,000 – 3% p.a.
  • S$70,001 – S$100,000 – 5% p.a.

Based on the calculator provided by UOB, the estimated interest you will earn is S$3,005.67.

This works out to be around 3% p.a. on the full balance of $100K.

UOB Stash Account Interest Rate

Having shared this money management idea, banks are also well known for revising their interest rates periodically. Thus, I am not sure how long UOB will retain the bonus interest rates for their Stash Account.

What do you think? If you have 100K, will you stash it into UOB Stash Account?

Related Reads:

How The UOB Stash Account Can Complement Your High Interest Account To Grow Your Savings (

UOB Stash Account Review (2023) | SingSaver

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