GXS Promo: Earn up to 4.3% p.a. on S$20,000 to S$50,000 Savings
GXS Bank has just announced a savings promo offering up to 4.3% p.a. returns! In the digital bank’s words – the rewards are sweeter than chocolate. A little on the nose, but if you are out of the loop, you can read this article to see what GXS is referring to.
Promo Details
To participate in this promo, you need to place fresh funds into GXS. Those without a GXS account can sign up here. There is no current sign-up promo that I am aware of. Use code SETH877 when signing up and get up to S$40 (S$20 for maintaining a S$5,000 deposit for 3 months and S$20 cashback for spending S$200 on a GXS card).
Update: it appears this promo is for targeted existing users only
The funds can be placed into the Main Account which gives 2.38% p.a, a Saving Pocket for 2.68% p.a, or a Boost Pocket which gives 3.28% p.a. interest for a tenure of 3 months.
For the purpose of this promo, Boost Pocket is the best option since it offers the highest interest and you have to lock in your funds for 3 months anyway.
You will need to deposit funds by 22nd October 2024 and hold till 22nd January 2025 to unlock bonus cashback rewards depending on your deposit amount:
| Deposit Amount | Interest Rate | Cashback Reward | Estimated Effective Yield |
| Minimum S$20,000 | 3.28% p.a. | S$28 | 3.84% p.a. |
| Minimum S$30,000 | 3.28% p.a. | S$58 | 4.05% p.a. |
| Minimum S$40,000 | 3.28% p.a. | S$88 | 4.15% p.a. |
| Minimum S$50,000 | 3.28% p.a. | S$128 | 4.30% p.a. |
Timeline of Interest/Rewards
According to information I gleaned from GXS’s website and their email on the promo, this is the timeline if you deposit funds into a Boost Pocket for this promo:
| Date | Info |
| 22nd October 2024 | Latest date to deposit funds into Boost Pocket |
| Daily | 2.38% p.a. interest credited each day |
| 22nd Jan 2025 | Bonus of 0.9% p.a. credited upon maturity |
| 11th Feb 2025 | Cashback reward credited by this date |
SDIC Insurance
As a digital bank owned by Grab and Singtel, funds are insured by SDIC up to S$100,000 per bank per customer.
“First-come, first-served” and other terms and conditions
Note that this article is based on my understanding of the terms and conditions which you should read for yourself before committing your money.
Something I found curious was that the terms state that cashback is issued on a “first-come-first served basis” (Clause C1). It sounds like a “first 100 applicants” kind of promo but given the lack of a specific number, I imagine it just means that GXS has the ability to stop the promo at anytime. According to the chat, an email confirming one’s eligiblity will be sent by 29th October 2024.
Alternatives
If you are able to fund and commit S$50,000, you may want to take a look at the Bonus$aver promo instead. It does have a bit more requirements like salary crediting and card spend, but the overall rewards are quite a bit higher (see below). I’ll do a post on it soon so stay subscribed for details.
StanChart Bonus$aver
Earn up to 5.85% p.a. (realistically 3.35% p.a.) with Bonus$aver account! Check out the guide for more details
💳 New Cardholders
Don’t have a StanChart Credit Card yet? Make sure you sign up for a StanChart Credit Card first to enjoy the credit promo, then sign up for Bonus$aver to enjoy both promos. The order matters!
🎁 New Bonus$aver Accountholders
Sign up for Bonus$aver Account + Bonus$aver Credit Card as a new-to-product customer (use code 6C76E if required) by 30th June 2026. Existing card/accountholders of other StanChart products still qualify!
Deposit and maintain minimum S$50,000 of fresh funds until the end of following month (e.g. 31st August for accounts opened in July) to get:
- Get S$138¹!
- Use code
6C76E: bonus S$30¹!
⚠️ Important Notes
- Existing StanChart cardholders/accountholders can still qualify as long as you do not own Bonus$aver account and/or card for past 12 months
Terms and conditions: [1]
For reference only; refer to exact details in terms and conditions
4.3% p.a. without requirements is pretty sweet indeed
Getting as much as 4.3% p.a. without much hassle is a pretty good deal, so it’s an option to consider if you happen to have spare funds to set aside.
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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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