5 Options For As Much As 6.8% p.a. on Cash Savings!!

May 2024 is upon us and the nerfs have struck. But here are 5 options to consider for higher interest or returns on our cash savings! Stay subscribed for updates and more current promos.

Webull: get 8.4%^ p.a. returns and up to US$1,050* cash vouchers!

For the month of May, new users to Webull can sign up and get up to US$1,050 in welcome rewards for completing a few simple requirements. On top of that, get as much as 8.4%^ p.a. returns with MoneyBull Interest Booster!

Definitely a deal not to be missed! Existing users also get a 3% Investment Match. See below for more details:

Moomoo Cash Plus: get 6.8% p.a. returns guaranteed by moomoo!

Eligibility: new and existing customers

I’ve written about this yesterday, and after studying the options available in the market this is one of the best in terms of rates. To be perfectly clear, this isn’t a bank account like the others on this list, but the underlying funds are invested in things like deposits with financial institutions and Singapore government-related bills.

I am not sure about you, but I personally think a fund that invests in a variety of high grade government bills and multiple banks’ deposits is actually safer than putting large sums of money in a single bank. But definitely don’t do anything that would make you lose sleep at night, and you can consider other options on this list instead.

Even existing clients of moomoo can qualify for this rate, so for people like me who have signed up years ago, it’s something I’m definitely going to take advantage of.

Bonus$aver Promo: get upwards of 4.9% to 6%+ p.a. with the promo on S$50,000!

Eligibility: new to Bonus$aver (does not have an existing Bonus$aver product in the past 12 months)

Now even as Standard Chartered has drop rates on this account, I wouldn’t count it out yet for those who are new to Bonus$aver. The current promo can boost one’s effective interest rate up to 4.9% and even more depending on how you view it.

When you sign up below and fund at least S$50,000, you get a sign-up gift of a Nespresso machine. Credit your salary of at least S$3,000 within the first 2 months (which you should definitely do asap to get higher interest with your Bonus$aver account) and get another S$100. With a deposit of S$50,000 set aside for 2 months, S$100 is already additional 1.22% p.a. in returns. Coupled with the new interest rate of 3.68% p.a. of the Bonus$aver account, that’s already 4.9% p.a. The Nespresso machine definitely adds on to your returns if you sell or keep it, so that’s icing on cake.

Stay subscribed for a upcoming guide on using the Bonus$aver account.

OCBC 360: get as much as 6.4% p.a. on S$75,000!

Eligibility: have never owned OCBC 360 account before

OCBC 360 remains one of the bastions of hope for high interest bank accounts. While I feel that the bank would eventually follow its competitors in dropping rates sooner rather than later, the month of May is unscathed at least.

In fact, there is an ongoing promo which doubles the interest rate of the Spend and Salary components of the account, making it possible to get as much as 6.40% p.a. interest! See the terms and conditions and apply using code 0PGAGDOS.

UOB One: get as much as 6.01% p.a. on S$150,000

See this article for more details:

Citigold promo: 3% p.a. 6-month time deposit + S$1,400 sign-up reward for S$250,000

Citigold’s offer is a little like having a 6-month time deposit that offers more than 4% p.a. returns, as long as you include the sign-up rewards into the calculation. You do need S$250,000, so if that’s something you’re looking at, you can check it out below:

HSBC EGA: get 4.35% p.a. on up to S$350,000

Eligibility: fresh funds/new customers

For May 2024, HSBC has a new promo that offers 3.30% p.a. bonus interest for fresh funds added to your HSBC EGA account. When you add 1% p.a. from HSBC Everyday+ Rewards Programme and the base interest of 0.05% p.a, your total interest is 4.35% p.a.

That’s not too bad considering how Everyday+ Rewards is very easily fulfilled: just make 5 transactions (and even transferring funds to other bank accounts you own works) and deposit at least S$2,000 (S$5,000 for Premier customers) within the month.

Note that HSBC Everyday+ Rewards’ 1% interest is capped at S$300 per month which is roughly S$350,000 or so, so keep your amount at S$350,000 at most to get the 4.35% p.a. yield.

Sign up for HSBC EGA here.

Covering more options soon

I will be covering more options in future that don’t require as many things like salary crediting, credit card spend etc. like most of the options above, so stay subscribed for that. Also, check out the video below where I talked about my cash savings a few months ago. There’d be some updates coming soon so stay subscribed for more!

Seth Wee was a licensed financial adviser representative from 2009 to 2025, with over 16 years of experience in Singapore’s financial advisory industry.

He started Sethisfy.com in 2019 to share practical insights on credit cards, banking products, and miles strategies, helping readers identify financial products that deliver the best value. Seth has been featured in CNA, Channel 8, Today, and a host of other publications. In 2025, he was also part of a panel at CPF’s Ready For Life festival.

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