Fuss-free Savings Accounts (Up to 5% P.A. Interest!)
Update: refer to the latest fuss-free savings accounts here
Bank accounts can give as much as 5% p.a. these days, but they mostly require certain conditions like spending on credit cards or making a minimum salary deposit. Some people may find these tasks challenging to meet, and as such I have listed out some bank accounts that do not require such conditions.
Almost no conditions required
Of course, there are still some conditions here and there to fulfil, but they are relatively fuss-free and shouldn’t take up much time or effort.
| Bank Name | Interest Rate (p.a.) | Minimum | Maximum | Comments |
|---|---|---|---|---|
| GXS Bank | 3.48% | None | S$5,000 | Must place funds into Pockets inside the app |
| SIF GoSavers Account | 2.5% – 3.5% | None | Not specified | 2.5% – first S$100,000 3.0% – next S$150,000 3.5% – above S$250,000 |
| Trust Bank | 1.5% – 2.5% | None | S$75,000 | Use code JP8171J5 for S$35 NTUC FairPrice Vouchers |
| StanChart e$aver | 3.8% | None | S$2 million | Rate for fresh funds |
| Maybank iSavvy | 3.6% | S$10,000 | Not specified | Rate for fresh funds |
| HSBC Everyday Global | 4.55% | None | S$2 million | Rate for fresh funds. 4.7% for Premier customers |
| StanChart Wealth$aver | 5% | S$200,000 | S$500,000 | For new to StanChart accounts only. S$500,000 gets bonus S$1,500 cash rewards |
In the current climate, getting the best rates for accounts that do not require much conditions would usually mean taking advantage of promos for fresh funds.
The wheels on the bus go round and round
StanChart e$aver and Maybank iSavvy both offer pretty high rates for no conditions, but the catch is that they require the money to be fresh funds. StanChart e$aver takes January 2023 as the reference month and gives its 3.8% p.a. rate on additional funds placed into the account. For instance, if your total savings in StanChart accounts amount to S$10,000 in the month and you put in another S$40,000, only this S$40,000 would get the 3.8% p.a. rate in February and March.
In April, StanChart is likely to publish its new rates for April and May, taking March 2023 as the reference month. If you have S$50,000 on average in the month of March, it will not be counted for the new rate.
What some have been doing is to alternate the funds between different e$aver accounts owned by different individuals, or alternate the funds between their e$aver account and a Maybank iSavvy account which works similarly to e$aver. Such a strategy is quite popularly called “merry go round”.
Wealth$aver promo is great for those with more funds
If you have at least S$200,000, the Wealth$aver promo gets you as much as 5% p.a. interest. This is made up of the account’s base interest of 2% p.a. and a bonus 3% p.a. for new clients.
Not only is the rate superior to t-bills and fixed deposits, you maintain full liquidity over the funds. This 5% rate is given up to a substantial S$500,000 amount, and if you deposit at least S$500,000 you get a further S$1,500 cash reward. It’s an all-around good deal for those who can meet the requirements.
Standard Chartered Wealth$aver
🔥
Until 31st March 2023
A new-to-bank customer is defined as an individual without a Deposit Relationship with the bank in the past 12 months.
| Activity | Reward |
| Join StanChart Priority Banking and get Wealth$aver as a new-to-bank customer with minimum S$200,000 deposit | – |
| Deposit S$500,000 within 3 months of account opening | Get S$1,5001 |
| Interest for first 6 months for new deposit clients = 2% base interest + 3% bonus interest2 | 5% interest! |
| Spend on Wealth$aver metal debit card | Unlimited 1% cashback |
| Tap here to fill up Google Form | To monitor and keep track of referral |
| Total | Up to S$1,500 cash reward + S$12,500 interest (5% p.a. on $500,000 for 6 months) |
These are for reference only. Check below for specific terms and conditions
Other applications links
Trust Account / Card
Remember to use code JP8171J5
🔥 👍🏼
Get 1% cashback and 0% fx fee! Also get bonus cashback on selected category spend.
HSBC Everyday Global Account
Monthly promos offering decent interest. Maintain S$50,000 of average daily balance and you can earn 8 miles per dollar with HSBC Revolution
New Accountholders
- S$1,600 Cash via PayNow; or
- Apple MacBook Air M4 15-inch 256GB (worth S$1,799); or
- 105,000 Max Miles(worth S$1,890)
Promotion is valid for new HSBC account customers only.
Successfully open an HSBC Premier account, deposit S$300,000 and maintain the balance for 6 months to be eligible for reward.
Promotion valid until 31st August 2026
For reference only; refer to exact details in terms and conditions
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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