The Best High-Yield Savings Accounts in Singapore (October 2025): What to Pick, Why, and How They Compare

 If you’re deciding where to park fresh cash in October 2025, you’ve probably noticed that banks have been trimming rates as the global-rate cycle cools. “High-yield” today doesn’t mean 5–7% like the 2023–early-2024 heyday, but you can still squeeze meaningful returns if you choose the right account for your behavior (salary crediting, card spend, bill-pay, or zero hoops).

Below I’ll break down the best options by profile, then dive into each account with practical, test-case comparisons at S$10k, S$50k, S$100k and S$150k. I’ll keep assumptions explicit and highlight traps like caps, “fresh funds” conditions, and effective-interest-rate (EIR) math.

Safety first: Deposits with SDIC member banks in Singapore are generally insured up to S$100,000 per depositor per scheme member. Always confirm the bank is an SDIC member and remember the cap is per scheme member, not per account. SDIC

Quick answer (by use-case)

  • “No hoops, just park and earn”

    • RHB High Yield Savings Plus: Tiered rates with up to ~1.50% p.a. at higher balances and no salary/spend requirements—a strong, low-maintenance parking bay if you don’t want monthly tasks. rhbgroup.com.sg

    • CIMB FastSaver: Simple structure with tiered base rates and optional Smart Rewards boosts (if you’re willing to do a little more). Great UX and typically competitive headline rates.

  • “I can credit salary and spend on the bank’s card”

    • OCBC 360: Still one of the best “do-more-earn-more” workhorse accounts; meaningful boosts for salary credit + card spend + Save/Insure/Invest. As of 2025, OCBC’s page shows up to 5.45% p.a. headline with detailed EIR examples.

    • UOB One (post-nerf, effective 1 Sep 2025): Simpler stack (salary + card) with EIR tables that make planning easier. New EIRs are lower than the 2024 peak, but still decent if you already use UOB cards.

    • DBS Multiplier: More flexible ecosystem (salary + credit card + investing/insurance/home loan). Max headline “up to 4.10% p.a.” now, so it’s competitive if you’re already deep in DBS.

  • “Digital-only and fuss-free”

    • GXS Bank: Revised rates (Aug 2025) now ~1.08%–1.38% p.a. depending on categories; smooth app, daily interest, and no hoops, but rates have trended down.

    • MariBank: 1.28% p.a. base (effective 1 Sep 2025), daily interest, tidy app, and flexible pockets. Great simplicity; accept the modest rate.

    • Trust Bank: Heavily program-based—Trust+ customers can stack perks but base is low (0.10% p.a.). Works best if you’re already an NTUC ecosystem user and leaning into their card + salary criteria.

  • “I want to super-optimise with many categories”

    • BOC SmartSaver and Standard Chartered Bonus$aver historically reward many behaviors (salary, spend, bills, invest/insure). BOC has published 2025 revisions; SC has multiple promos but complexity is high—solid only if you’ll truly hit the categories monthly.

  • “I’m 18–26 (youth account)”

    • Standard Chartered JumpStart: Straightforward up to 2.00% p.a. on first S$50k (youth), little admin. If you’re eligible, it’s a set-and-forget anchor. Standard Chartered Bank

  • “I also want multi-currency features & cashback”

    • HSBC Everyday Global Account (EGA): Multi-currency account with up to ~3.25% p.a. when you play along with Everyday+ (bonus interest on incremental balances, debit card/GIRO cashback). Not the top headline rate, but strong for mixed usage plus global features. HSBC SGHSBC Card Promotions

  • “I’m okay with base rates + occasional promos”

    • Maybank SaveUp / iSAVvy: Base rates are modest, but Maybank runs periodic promos (e.g., iSAVvy promo up to ~1.90% p.a. in Sep 2025 for fresh funds). Good if you like promo-hopping. BeansproutMaybank Singapore

What changed in 2025 (so far)

  • Aggressive cuts to “do-more-earn-more” accounts through 2024–2025 have normalised top-end EIRs. A vivid example: UOB One’s maximum EIR sliding to ~2.50% p.a. on S$150k from 1 Sep 2025 (explicit EIR tables in UOB’s PDF).

  • Digital banks (GXS, MariBank, Trust) trimmed too—leaving ~1.1–1.6% p.a. ranges unless you stack program perks.

  • OCBC 360 continues to publish clear category-based EIR illustrations, which is helpful when rates move.

Deep dive: the front-runners (October 2025)

1) OCBC 360 — the all-rounder

Why it’s strong: If you will credit salary and use an OCBC card, you get a solid core rate; add Save/Insure/Invest to push higher. OCBC displays EIR by deposit size, which avoids nasty surprises. Their current marketing shows “up to 5.45% p.a.”, but the effective rate for most people lands lower (depends on categories you can meet and your balance tier).

Best for: Salaried consumers who can reliably spend and possibly buy OCBC insurance/unit trusts (only if they fit your needs—don’t buy financial products just for bonus interest).

Watch-outs:

  • Bonus components can require new qualifying transactions monthly.

  • Caps typically apply to the first S$100k. Confirm your personal EIR vs the headline.

2) UOB One — salary + card simplicity (revised from 1 Sep 2025)

Why it’s strong: After the Sep 2025 revamp, UOB published a clear EIR table for salary credit + UOB card spend. At S$150k, the new EIR is ~2.50% p.a.; at lower balances, EIRs vary by fulfillment. If you’re already a UOB card power user, this remains tidy.

Best for: People who already spend on UOB each month and can credit salary.

Watch-outs:

  • Rates are markedly lower than 2024–early-2025 peaks; ensure it still beats your no-hoops alternatives. AsiaOne

3) DBS Multiplier — flexible ecosystem play

Why it’s strong: You can “multiply” across categories (salary/DivCred + card + invest/insure/home loan). The “up to 4.10% p.a.” headline is competitive if you’re already using DBS for investments or insurance, or you hold a DBS home loan.

Best for: Users with multiple DBS relationships (e.g., Vickers investments, POSB/DBS insurance, home loan).

Watch-outs:

  • If you don’t invest/insure with DBS, your EIR will typically sit below the headline.

  • Caps by balance tier apply; check your realistic rate at your balance.

4) CIMB FastSaver — simple, consistent “park and earn”

Why it’s strong: Clean tiered base structure; optional Smart Rewards to push a bit higher if you want. Customer-friendly app, no fall-below fees historically, and a reputation for keeping things straightforward. Great as a liquidity hub.

Best for: Savers who dislike monthly tasks and don’t want card-spend obligations.

Watch-outs:

  • Check Smart Rewards mechanics (e.g., incremental balance, fresh funds) before relying on the boosted rate.

5) RHB High Yield Savings Plus — “no hoops” darling for bigger balances

Why it’s strong: Tiered base rates that step up with balance and no activity requirements. As of 2025, RHB SG shows tiers starting at ~1.20% p.a. and up to ~1.50% p.a. for >S$100k. That’s compelling without salary credit or card spend. rhbgroup.com.sg

Best for: S$100k+ balances that want simplicity.

Watch-outs:

  • Even with step-ups, it can be out-earned by category accounts if you fully meet their tasks—run the math for your exact behavior.

6) BOC SmartSaver — high ceiling if you’re diligent

Why it’s strong: Historically generous if you tick many boxes (salary, card, bill-pay, invest/insure). 2025 revisions remain in effect; worth a look if you’re happy to commit to Bank of China as a primary ecosystem.

Best for: Optimisers who can hit multiple categories reliably each month.

Watch-outs:

  • Complexity. If you miss a category, your EIR can collapse. Always price your worst-month outcome.

7) Trust Bank — best if you’re all-in on the NTUC + Trust+ program

Why it’s strong: Trust+ can unlock better rates and rich card perks for NTUC users; integrated experience with the app. Base is low (~0.10% p.a.), so the value is in stacking.

Best for: Regular NTUC spenders who’ll credit salary and use Trust cards.

Watch-outs:

  • If you don’t do the ecosystem tasks, a simple account like RHB may beat Trust on passive returns. rhbgroup.com.sg

8) Digital banks: GXS & MariBank — slick apps, modest rates

  • GXS: New (Aug 2025) tiers put most users around 1.08–1.38% p.a., with daily interest and no hoops; useful cash buckets UX.

  • MariBank: 1.28% p.a. base (effective 1 Sep 2025), daily interest and very low friction. Great parking for short-term cash you want instant access to.

9) HSBC Everyday Global Account (EGA) — multicurrency + Everyday+

Why it’s strong: One account to save/spend in 11 currencies with Everyday+ offering bonus interest on incremental SGD balances and cashback on debit card/GIRO. Headline “up to 3.25% p.a.” can be attractive if you’re actually growing balances and actively using the account. HSBC SGHSBC Card Promotions

Best for: Travellers and globally-oriented users who value FX + cashback more than hitting the top savings EIR.

Watch-outs:

  • Everyday+ is promotional and incremental-balance based; read the latest T&Cs and timelines. HSBC SG

10) Maybank SaveUp / iSAVvy — promo-friendly but base is modest

Why it’s strong: Maybank runs regular promos (e.g., iSAVvy fresh-funds promo up to ~1.90% p.a. in Sep 2025). If you like promo-surfing, you can top up during windows. Base rates otherwise are low. BeansproutMaybank Singapore

Watch-outs:

  • Important notices show rate changes from Sep and again in Oct 2025—check the exact effective date that applies to your funds. Maybank Singapore+1

“Best” depends on you: four test cases

To make this concrete, here’s how I’d think through typical October 2025 scenarios. (Always verify the current bank page before applying; rates/promos can change and caps apply. Citations show the current structures as of early September 2025.)

Case A — S$50,000, no hoops wanted

  • Top picks: RHB High Yield Savings Plus (~1.20% p.a. for first S$50k), CIMB FastSaver (base tiers, optional Smart Rewards). MariBank at 1.28% is also simple and daily-interest. rhbgroup.com.sg

  • Why: You avoid card/salary friction and still earn ~1.2%–1.3% p.a. with zero admin. If you want clean daily interest and pockets, MariBank wins on UX; if you want a little more at higher tiers, RHB edges it. rhbgroup.com.sg

Case B — S$100,000, you can credit salary and spend

  • Top picks: OCBC 360 (salary + spend + Save can push a good EIR), UOB One (new EIRs are moderate but simple), DBS Multiplier (if you also invest/insure).

  • Why: With S$100k, your effective return hinges on how many categories you truly meet every month. Run the bank’s EIR tables/examples for your exact behavior and balance.

Case C — S$150,000+, friction-tolerant optimiser

  • Top picks: OCBC 360 (maxing more categories), BOC SmartSaver (for those who will hit many tasks), or UOB One if your card + salary are already on UOB and you accept the ~2.50% p.a. at S$150k EIR.

  • Alternative: If you hate complexity, RHB at 1.50% p.a. (for >S$100k tier) is a respectable floor. rhbgroup.com.sg

Case D — Youth (18–26), S$20k–S$50k balance

  • Top pick: SC JumpStart (up to 2.00% p.a. on first S$50k) with minimal fuss. Park here first, then overflow into RHB/CIMB/MariBank if needed. Standard Chartered Bank

Comparison snapshots (October 2025)

Note: These snapshots reflect advertised structures as of early Sep 2025. Your EIR depends on what you actually do and the caps per balance tier.

Passive “no-hoops” parking (first S$50k–S$150k)

  • RHB High Yield Savings Plus: Step-up tiers starting ~1.20% p.a. (first S$50k) to ~1.50% p.a. above S$100k. No salary/spend hoops. rhbgroup.com.sg

  • CIMB FastSaver: Tiered base rates; optional Smart Rewards to bump. Good as a main transaction + parking account.

  • MariBank: 1.28% p.a. base (effective 1 Sep 2025). Daily interest, quick setup.

  • GXS: ~1.08–1.38% p.a. (Aug 2025 revision), daily interest, tidy pockets.

Salary + card spend engines (first S$100k–S$150k)

  • OCBC 360: Clear category EIRs; up to 5.45% p.a. headline, but check EIR examples and caps (commonly the first S$100k) for your real outcome.

  • UOB One: Post-1 Sep 2025 EIR table shows ~2.50% p.a. at S$150k if you meet salary + UOB card spend. Easy to model.

  • DBS Multiplier: Up to 4.10% p.a. headline; best if you combine salary + card + DBS invest/insure/home loan.

  • BOC SmartSaver: Strong if you’ll meet many tasks; 2025 revisions in effect. Good ceiling; more maintenance.

Ecosystem or specialty picks

  • HSBC EGA (Everyday+): Up to ~3.25% p.a. with incremental-balance bonus + debit/GIRO cashback; powerful if you actually grow balances monthly and want multicurrency. HSBC SGHSBC Card Promotions

  • Trust Bank: Base 0.10% p.a.; program-driven boosts for Trust+ / NTUC usage. Good if you’re all-in on the ecosystem.

  • SC JumpStart (youth): Up to 2.00% p.a. on first S$50k if you’re 18–26. Park here first if eligible. Standard Chartered Bank

How to choose (a mini-playbook)

  1. Decide your effort level

    • If you prefer zero hoops, shortlist RHB, CIMB, MariBank, GXS.

    • If you’re comfortable with salary + card + (maybe) Save/Insure/Invest, shortlist OCBC 360, UOB One, DBS Multiplier, BOC SmartSaver.

  2. Match your balance to caps

    • Many “do-more” accounts cap the best rates at first S$100k; UOB One publishes a S$150k EIR scenario. If you hold >S$100k, consider splitting across two banks or accept a blended EIR.

  3. Compute your realistic EIR

    • Use the bank’s worked examples (OCBC publishes several) and UOB’s EIR table to align on your true return. If you’ll miss categories in some months, use the worst-month EIR in your maths.

  4. Mind promos vs. permanence

    • HSBC EGA Everyday+, Maybank iSAVvy promos, SC e$aver promos are time-boxed. Promos are fine for new funds or tactical top-ups, but always note the end date and the reversion rate. HSBC SGBeansproutStandard Chartered Bank

  5. Check program friction & fees

    • Confirm card annual fees, minimum spends, GIRO setup, and any fall-below or early closure fees. For straightforward accounts (RHB/CIMB/MariBank/GXS), friction is lower. rhbgroup.com.sg

  6. Stay within SDIC caps

    • If your aggregate across a scheme member bank exceeds S$100k, consider splitting to another SDIC member or keeping excess in T-bills/FDs/unit trusts depending on your risk/liquidity needs. SDIC

Worked examples (October 2025 assumptions)

Assumptions: You want liquid cash (not FD), and you can either do zero tasks or hit salary + card plus maybe one add-on. Interest rates are based on each bank’s current public materials as of early Sep 2025.

Example 1 — S$50,000, zero hoops

  • RHB High Yield Savings Plus (~1.20% p.a. on first S$50k): ~S$600/yr before compounding. rhbgroup.com.sg

  • MariBank (1.28% p.a.): ~S$640/yr; wins on daily accrual & simplicity.

  • GXS (~1.28% midpoint of the 1.08–1.38% band): ~S$640/yr; comparable to MariBank, choose based on app and pockets UX.

Example 2 — S$100,000, salary + bank card

  • UOB One: Depending on table tier, you’ll likely land around ~2% p.a. EIR at S$100k (check exact table row). That’s ~S$2,000/yr.

  • OCBC 360: With salary + card + Save, you may get a higher EIR than UOB One at S$100k, but it depends on your exact combo—use OCBC’s worked examples.

  • DBS Multiplier: If you also invest or insure with DBS, you can approach the upper end of its range; if not, expect something closer to mid-tier outcomes.

Example 3 — S$150,000, don’t want complexity

  • RHB High Yield Savings Plus: On >S$100k, ~1.50% p.a. floor; ~S$2,250/yr. This is the benchmark to beat without doing anything. rhbgroup.com.sg

  • UOB One: If you’ll reliably hit salary + UOB card, the EIR ~2.50% p.a. at S$150k is ~S$3,750/yr, which handily beats passive RHB. If you’re unsure about monthly compliance, RHB’s certainty could be worth more.

Honourable mentions & niche notes

  • Standard Chartered e$aver (promo windows): “Earn up to ~2.2% p.a.” type promos cycle in/out. Use for temporary top-ups of fresh funds during promo periods. Standard Chartered Bank

  • Standard Chartered USD$aver (USD only): Not SGD—useful if you want a USD float, noting recent/coming rate revisions as of Sep 2025. Standard Chartered Bank

Frequently asked questions (Oct 2025)

Q: What’s the single best account right now?
There isn’t one. If you’ll do salary + card + maybe 1–2 extras, OCBC 360 often wins on EIR. If you want zero tasks, RHB High Yield Savings Plus and MariBank/GXS are excellent “lazy earners.” If you’re already in UOB/DBS ecosystems (cards, loans, investments), their accounts can be equally strong for you. rhbgroup.com.sg

Q: What’s a realistic EIR to target in October 2025?
For many users, ~1.2–1.6% p.a. is achievable with no hoops, while ~2–3% p.a. is reasonable if you consistently hit salary + spend and perhaps one more category. True 4–5%+ is now niche and typically requires many categories or promo stacking—and caps apply. rhbgroup.com.sg

Q: Should I split balances across banks?
Yes, if (a) you’ll exceed the SDIC S$100k cap with one scheme member bank; (b) you want to max two accounts’ sweet spots (e.g., SC JumpStart up to S$50k + RHB or OCBC/DBS for the remainder). SDICStandard Chartered Bank

Q: Are digital banks safe?
Check that the institution is a licensed bank here and understand SDIC coverage. For example, Trust Bank (Standard Chartered x NTUC) is SDIC-insured as a licensed bank; likewise, evaluate the status for GXS/MariBank and observe their terms. Always verify coverage on the bank’s page and SDIC’s site. SDIC

Q: Should I consider fixed deposits or T-bills instead?
If you can lock funds for a tenor, FDs/T-bills can sometimes beat savings EIRs. In Sep 2025, FDs generally hover around ~1–1.6% p.a. depending on bank/tenor; yields move. Compare weekly. Beansprout

A practical shortlist for October 2025

  • Set-and-forget (no hoops):

    1. RHB High Yield Savings Plus (tiered up to ~1.50% p.a.) rhbgroup.com.sg

    2. MariBank (1.28% p.a. base, daily interest)

    3. GXS (~1.08–1.38% p.a., daily interest, pockets)

  • Salary + card engines:

    1. OCBC 360 (strong EIR if you meet 2–3 categories)

    2. UOB One (clean salary + card; EIR ~2.50% at S$150k)

    3. DBS Multiplier (best if you also invest/insure/home-loan with DBS)

  • Youth (18–26):

  • Ecosystem + multi-currency:

  • Promo-surfers:

Final thoughts

In this cycle, behavior fit beats headline rates. If you’ll truly hit salary + spend + one or two extras every month, OCBC 360 / DBS Multiplier / UOB One can still out-earn passive accounts—especially around the S$100k mark. If you value simplicity and certainty, RHB, MariBank, or GXS offer respectable, maintenance-free floors.

Before you decide, do these two things:

  1. Run your own EIR with your actual deposit size and categories using the bank’s examples (OCBC) or tables (UOB).

  2. Check the effective date of any recent rate revision or promotion (lots changed from Sep 2025 and some again in Oct 2025). Maybank Singapore+1

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