It used to be that you opened a savings account to, well, save money, and earn some interest at the same time. Nowadays, banks not only give you interest but are even recompensing you for making other transactions via your account.
For example, you could earn higher interest simply by depositing your salary into the same account, meeting a minimum spend when you use one of the bank’s credit cards, taking out a home loan, or buying one or more of its financial products.
We help you decide which bank gives the best maximum returns based on your spending and transacting habits.

OCBC 360
Best For: Those looking to invest or insure themselves and their families, regularly make bill payments online or through Giro, and actively use their OCBC credit cards each month.

Citibank Interest Plus
Best For: Those looking to take out a home loan with the bank or who are interested in buying insurance and investments. With a low minimum spend criteria of $25, you won’t have to worry about constantly tracking your credit card spending in order to hit a higher amount each month.

Best For: Those with at least $50,000 to deposit into this account will reap higher interest rates, as it’s structured such that you will receive 1.5% per annum on the first $10,000 in your account, 2% per annum on the next $20,000 and 3.33% per annum on the $20,000 after that. All this is provided you meet the bank’s minimum credit card spending and salary crediting criteria. The account also offers a bit more flexibility as you can choose to either credit your salary into it or make three bill payments to earn the bonus interest, instead of having to do both.

Standard Chartered Bonus$aver
Best For: Higher-income earners who wish to place their money in a single account, or intend to place more than $50,000-$60,000 in the main account they use for banking. The bonus interest cap of $100,000 allows you to earn interest on a larger amount of money.

Bank of China Smartsaver Multi-Currency Savings
Best For: Those who can put in balances of $50,000 or more to earn a higher base interest rate of 0.4%. Other than what is listed in the table (opposite), it also rewards you with an additional 0.6% if you save from $60,000 to $1 million and fulfil at least one of the requirements for credit card spend, salary credit or bill payment.


Click on the image to see the table in high resolution.