Fuss-free Savings Accounts (Up to 5% P.A. Interest!)

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 NameInterest Rate (p.a.)MinimumMaximumComments
GXS Bank3.48%NoneS$5,000Must place funds into Pockets inside the app
SIF GoSavers Account2.5% – 3.5%NoneNot specified2.5% – first S$100,000
3.0% – next S$150,000
3.5% – above S$250,000
Trust Bank1.5% – 2.5%NoneS$75,000Use code JP8171J5 for S$35 NTUC FairPrice Vouchers
StanChart e$aver3.8%NoneS$2 millionRate for fresh funds
Maybank iSavvy3.6%S$10,000Not specifiedRate for fresh funds
HSBC Everyday Global4.55%NoneS$2 millionRate for fresh funds. 4.7% for Premier customers
StanChart Wealth$aver5%S$200,000S$500,000For 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.

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 openingGet S$1,5001
Interest for first 6 months for new deposit clients = 2% base interest + 3% bonus interest25% interest!
Spend on Wealth$aver metal debit cardUnlimited 1% cashback
Tap here to fill up Google FormTo monitor and keep track of referral
TotalUp 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

  1. Tap here for terms and conditions for S$1,500 gift
  2. Tap here for terms and conditions for bonus interest

Other applications links

Trust Bank


🔥 👍🏼

Download the app (iPhone / Android) using your smartphone, and use referral code JP8171J5S$10 of FairPrice E-Voucher
+ Kopitiam breakfast set
Make first spend with credit/debit cardS$25 FairPrice E-Voucher

Get 21% rebate on FairPrice Group transactions.


Everyday Global Account

Until 31st January 2023

Sign up for HSBC EGA account as a new customer and fill up SingSaver form in email ⚠️ no form, no reward
Provide consent to receive marketing/promotional materials from HSBC
Open Investment Account, and perform 1 trade by 28th February 2023
Deposit fresh funds of S$5,000 for 2 consecutive months in EGA and have 5 card transactions (with a HSBC credit or debit card) by 31st March 2023
Choose one gift:
Apple Watch SE Gen 2 Cellular 44mm (worth S$499) or
Fitness First 3-month Platinum Membership (worth S$654) or
$350 Cash via PayNow

Plus: 5x Fortune Lucky Draw chances!

For reference only. Please refer to the terms and conditions.

Keep up to date on the best cashback/mile cards, financial products, attractive deals, and more tips to maximise your financial wellbeing by subscribing to my Telegram channel.

Subscribe to the channel, then join the group chat. You would often benefit from the tips shared exclusively in the group chat!

Disclaimer: I may receive an affiliate/referral fee when you sign up for services/products on this site, and such fees keep the site running. I would only recommend services/products I would personally use or recommend to my own friends and family, but I do not provide any warranty or guarantee for the quality of these services/products. Thank you for supporting my site!

Please exercise due diligence when signing up for any service/product as I will not be liable for any personal loss, financial or otherwise. Content published here are my sole views and personal opinion, and none of the information here constitutes personal financial advice nor represents the views of my employer(s).

Leave a Reply