Which is the Best High Yield Savings Account? [Calculator Included]

Promo Details:

• Get up to S$288 worth of gifts

  • 50 units of SPDR Straits Times Index ETF (SGX:ES3) worth S$198 + S$60 cashback.

  • Additional S$30 when you apply through my exclusive link

• How to qualify:

  1. Apply for a Bonus$aver Account and Bonus$aver World Mastercard Credit Card (as main account/principal cardholder).

  2. Deposit S$50,000 fresh funds.

  3. Keep the deposit until the end of the calendar month after account opening.

  4. You must have a valid Standard Chartered Online Trading account. This is necessary since this is where the ETF shares will be credited. You can apply it here after you have applied for the account.

• Who can apply:

  • New Bonus$aver accountholders, or existing Standard Chartered customers who don’t have a Bonus$aver account yet.

• Valid from 28 July – 31 August 2025.

• Read Terms and Conditions here

Additional Tips to Maximise Sign Up Gifts:

• Apply for a Standard Chartered credit card first if you are new to SC credit card holder (with sign-up bonus) before joining this promo. I personally recommend these two:

The Standard Chartered Bonus$aver Account offers up to 8.05% p.a. interest on the first S$$100,000 when you credit salary, spend on the linked card, and opt for investment or insurance products. Salary and card spend alone can earn around 3.05% p.a. 

To Achieve 3.05% p.a. Interest:

• Credit a salary of at least S$3,000/month via FAST, GIRO, or PayNow. There are no hacks for this at the moment.
• Spend at least S$1,000/month on your linked Bonus$aver credit or debit card.

To Achieve an Additional 2.5% p.a. Interest:

• You can do either below:
  • Subscribe, through SC, and settle a trade for an eligible unit trust with a minimum single subscription amount of S$20,000; OR
  • Trade a minimum of S$20,000 in cumulative buy trades for eligible Online Equities via SC Online Trading within a calendar month

Direct Bank Reward:

• Get Samsonite MODUS Spinner 25” worth S$610 and S$100 cashback when you spend S$800 within 60 days of your card approval
• Valid until 30 September 2025
• Read Terms and Conditions here

Singsaver Reward:

• Get S$350 Cash via PayNow or S$370 Grab Voucher when you spend a minimum of S$800 within 30 days of card approval
• Promotion is valid for new to bank credit card holders
• Valid from 18 August to 31 August 2025
• Read Terms and Conditions here
• Must fulfill spending requirement to receive gift confirmation
• Remember to check for SingSaver email and complete the registration to secure your reward!

• Earn a flat 1.5% cashback rate, with no minimum spend requirement, and no cashback cap. This card can be used in basically anything and everything spending! This can be an ultimate card to use when paying for wedding banquet venues!

Annual Fee

• S$196.20 (including 9% GST), waived for the first two years

Income Requirement

• S$30,000 (locals/PRs); S$60,000 (foreigners)

Know what this card is best for:

• Best Cards for Wedding Banquets

Terms and Conditions

Full Review

• Receive Samsonite Straren Spinner 67/24 (worth S$600) or 7K Max Miles or S$200 Grab Voucher or S$180 Cash via PayNow when you spend S$800 within 60 days of card approval
• Valid from 18 August to 31 August 2025
• Read Terms and Conditions here
• Promotion is valid for new to bank credit card holders
• Must fulfill spending requirement to receive gift confirmation
• Remember to check for SingSaver email to secure your rewards after you have applied!

Stackable with Direct Bank Rewards:

• Receive up to 30,000 miles
• Receive 10,000 miles when you apply with annual fee payment (S$196.20 incl. GST) 
• Receive 20,000 miles when you make a min. spend of S$800 within 60 days of card approval + waived annual fee for the first year
• Promotion is valid until 30 September 2025
• Read Terms and Conditions here

My thoughts: If you were going to apply for this card, you would probably get the better value from choosing the annual fee paying option as you would get extra 20,000 miles for S$196.20, making your cost per mile to be 0.9 cents per mile. Do take note of the minimum spend criteria within 2 months of card approval as well as spending on eligible transactions for your qualifying spend to maximise the sign up rewards.

• Earn up to 3 miles per dollar on selected bonus categories in SGD; 2 miles per dollar on overseas spending, and 1.2 miles per dollar on other local spending. All with no minimum monthly spending required. This card is best for those who spend a lot on the bonus online categories such as transportation, grocery and food delivery with a spending cap of S$1,000 per statement month
• This comes with 2 complimentary airport lounge passes

Terms and Conditions

Full Review

• Get 1-year Disney+ Premium subscription (worth S$189.98) when you credit at least S$1,800 monthly salary to your account via GIRO or FAST/PayNow by the following month of account opening
• Must enter the code: VHW8FDOS
• Only for the first 2,000 eligible customers
• Valid from 1 July to 31 July 2025
• You’ll receive the Disney+ subscription code in your registered email address by the 15th working day of the following month after satisfying the qualifying action
• Read Terms and Conditions here

OCBC 360 Account is a high-yield savings account that rewards you with bonus interest for crediting your salary, saving, and spending on OCBC cards. You can also purchase insurance or investment products. It’s ideal for working adults who can consistently meet these criteria to maximize their interest earnings.

Comes with 3 Main Requirements:

• Salary Crediting: Your salary must be deposited from a corporate account with the purpose of payment being “SALARY” to qualify for the full interest rate.
• Savings Increase: You need to increase your balance by S$500 monthly for bonus interest, with potential “resets” impacting your ROI. Check the OCBC app under “Money Insights” > “Total Balance” to see if you meet this criteria.
• Spend S$500 a month on one of these OCBC Credit Cards: OCBC 365, OCBC Infinity Cashback, OCBC NXT, OCBC 90N or OCBC Rewards.