Buffed: SingFinance Increases Rates For SIF GoSavers Account in August 2026
Starting from 18th August 2026, SingFinance has increased the interest rates for SIF GoSavers Account.
Change in Rates
| Account Balance | Old | Current |
|---|---|---|
| First S$100,000 | 1.30% p.a. | 1.30% p.a. |
| Next S$150,000 | 1.08% p.a. | 1.30% p.a. |
| Next S$150,000 | 1.18% p.a. | 1.28% p.a. |
| Next S$100,000 | 1.28% p.a. | 1.29% p.a. |
| Above S$500,000 | 1.30% p.a. | 1.30% p.a. |
Fuss-free 1.30% p.a. on first S$250,000, with at least 1.29% p.a. for almost any amount
With the new rates, depositors can enjoy 1.30% p.a. on the first S$250,000 of the amount they place with SIF GoSavers. As usual, the account does not require any conditions like salary crediting, card spend, or any other conditions, making this a very fuss-free account to use.
Amounts beyond S$250,000 gets a negligibly lower rate of 1.28% p.a. for the next S$150,000, and 1.29% p.a. for the next S$100,000. Beyond S$500,000, funds get 1.30% p.a. interest rate again.
Based on the interest tiers, users will not get below an effective interest rate of 1.29% regardless of whatever balance they have in their SIF GoSavers account.
It’s pretty strange to me why the company didn’t just set the rates at 1.30% p.a. Nonetheless, those who are looking for an easy, no frills account to use, may find this an attractive option.
SingFinance is not a bank
If you have not heard of SingFinance before, it can be quite surprising to learn that it is not a bank. Interestingly, however, what you get with SIF GoSavers is pretty similar to what you might expect from a bank account.
While not a bank, SingFinance is a licensed finance company under MAS regulation, and is also a SDIC scheme member. Thus, eligible SGD deposits are insured by SDIC, offer the same SDIC protection as banks with up to S$100,000 insured per depositor per Scheme member.
What you will not find with SIF GoSavers is support for PayNow. Both incoming and outgoing PayNow transfers are not supported, and SIF GoSavers users have to rely on FAST instead.
Compared to fuss-free accounts
You can compare the account with other fuss-free options here:
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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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