GXS interest rate in August 2025 will be adjusted downwards. The interest rate for GXS Bank was recently adjusted in May 2025. Today, I received news from GXS Bank that they will again revise the interest rates for their main account and savings pockets with effect from 8th August 2025.
With effect from 8th August 2025, the interest rate for the GXS Bank Main Account will be adjusted from 1.68% per annum to 1.08% per annum. The interest rate for Saving Pockets will be adjusted from 1.98% per annum to 1.38% per annum. GXS shared that they just want to be transparent about what is changing and the cut in interest rates was to keep pace with current market conditions.
What is GXS Bank?
In February, I wrote about GXS Bank account that pays me daily 2.38% per annum without having to do anything. GXS Bank is a digital bank, and it holds a banking licence issued by the Monetary Authority of Singapore. GSX Digital Bank is backed by a consortium consisting of Grab Holdings Inc. – Southeast Asia’s leading super app, and Singtel – Asia’s leading communications technology group.
GXS Bank account is also covered by Singapore Deposit Insurance Corporation (SDIC) for up to S$100,000 per depositor per Scheme member by law. The Singapore Deposit Insurance Corporation (SDIC) is a statutory board under the Ministry of Finance in Singapore. Its main purpose is to provide deposit insurance for depositors in Singapore. This means that in the event of a bank failure, depositors will be protected up to a certain limit by the SDIC.
What I Like About GXS Bank?
GSX Bank uses the concept of pockets. You can create up to 8 Saving Pockets and 2 Boost Pockets. Since I opened a digital account with GXS Bank, I have created 3 Saving Pockets.
The first pocket is for Supplementary Retirement Scheme (SRS). On a monthly basis, I have been transferring money into the Supplementary Retirement Scheme (SRS) Saving Pocket. In November, I shall close this pocket and transfer them into my SRS account to maximize the tax relief for this year.
The second Saving Pocket I created is to save twenty percent of my monthly salary. Every month when I receive my monthly wage, I will transfer twenty percent into this pocket. This helps to build up my cash on hand where I can use it when I need them in future.
The third Saving Pocket will be the dividends from the REITs that I have in my stock portfolio. These are passive income and putting them into the saving pocket help me to compound the return further.
My Thoughts on GXS Interest Rate in August 2025
GXS new interest rate is really too low to stomach. I may consider withdrawing all my funds from GXS and put them into other high interest savings account. Having said that, I really like the concept of saving pockets as it helps me allocate and save for different needs.
I hope Singapore banks such as DBS, OCBC and UOB can look into this feature as it will benefit everyone who wants to save up for a rainy day!
Last, I just want to share that this is not a sponsored post and solely based on my own research and opinion. There are no affiliate links in this post. With falling interest rates, I believe everyone like me is looking for the best place to park your idle money to earn extra cash. Check out GSX Digital Bank at GXS Savings Account | Earn 1.98% p.a. interest with GXS Bank