Name: Singapore retail savings rates, T-bills, SSBs, and fixed deposits
Creator: LivingInSg
License: https://www.livinginsg.xyz/methodology

Question 1

What is the best Singapore savings account right now?

Accepted Answer

As of April 2026, OCBC 360 offers the highest realistic Effective Interest Rate at 2.45% p.a. on the first S$100,000, assuming you credit a salary of at least S$1,800 per month and spend at least S$500 per month on a linked OCBC card. Bank of China SmartSaver is a close second at 2.40% realistic on the first S$100,000. Note: OCBC 360 and Standard Chartered Bonus$aver both drop on 01 May 2026.

Question 2

What is the difference between realistic and maximum EIR?

Accepted Answer

Realistic EIR assumes you meet the bonus categories most salaried Singaporeans can fulfill without buying investment or insurance products: crediting salary via GIRO, card spend, and in some cases bill payments or balance growth. Maximum EIR includes aspirational tiers that typically require you to purchase an eligible investment (e.g., unit trust) or insurance policy, and the bonus often applies for only 6 to 12 months.

Question 3

Are Singapore savings accounts covered by SDIC insurance?

Accepted Answer

Yes. The Singapore Deposit Insurance Corporation (SDIC) insures eligible SGD deposits up to S$100,000 per depositor per Scheme member (bank or finance company). This covers savings, fixed deposits, and current accounts at SDIC Scheme members. Foreign currency deposits, structured deposits, and investment products are not covered.

Question 4

How often are the rates on LivingInSg updated?

Accepted Answer

Rates are reviewed approximately weekly and updated same-day when a bank publicly announces a change. Every rate on the site links to the bank's own product page with the quoted headline text and retrieval date, so you can independently verify any figure. The most recent full refresh is stamped at the top of the homepage.

Question 5

How do Singapore T-bills and SSBs compare to savings accounts?

Accepted Answer

The latest 6-month T-bill (auction 14 April 2026) cleared at a cut-off yield of 1.47% p.a. The April 2026 Singapore Savings Bond (SSB, code GX26040E) has a 10-year average yield of 1.99% p.a. with step-up coupons and can be redeemed any month without penalty. Both yield less than the top realistic savings-account EIRs today (2.0% to 2.45%) but are backed by the Singapore government and don't depend on salary or spend conditions.

Question 6

Does LivingInSg earn referral commissions from these banks?

Accepted Answer

No. LivingInSg has no affiliate partnerships, no referral links, and no advertising revenue. The site is an independent reference tool. Every outbound bank link is a direct, non-tagged URL to the bank's official page.

Changelog

April 2026 refresh