SCB Bonus Saver Interest Rate 2026: Up to 5.85% p.a. | Guide

If you’ve been tracking Singapore savings rates lately, you’ve seen plenty of movement. Standard Chartered’s Bonus$aver account currently offers up to 5.85% p.a. on the first S$100,000 — a rate that still leads many competitors despite a recent cut.

Current maximum bonus rate: 5.85% p.a. ·
Base interest rate: 0.05% p.a. ·
Minimum deposit: S$0 ·
Bonus interest tiers: 4 categories ·
Effective from: 1 May 2026

The Bonus$aver account packs four distinct earning categories, each with its own bonus rate. The table below shows the core specs.

What is the interest rate for Stanchart bonus saver?

Standard Chartered’s Bonus$aver account applies a tiered bonus structure on top of a base rate. The maximum total interest you can earn is 5.85% p.a. on balances up to S$100,000, effective 1 May 2026.

Current bonus interest rate

• Maximum bonus rate: 5.85% p.a. on first S$100,000 (Standard Chartered Singapore, official product page)
• Rate effective from 1 May 2026 (Growbeansprout, Singapore personal finance blog)
• The 5.85% is the sum of base rate (0.05%) plus bonus interest from up to four categories.

Base interest rate

You will earn a prevailing interest rate of 0.05% p.a. on your entire deposit balance, as stated on the product page. That base applies whether you meet bonus conditions or not.

How the rate is applied

• Bonus interest is calculated on the average daily balance each month.
• If you meet all four bonus categories, you earn 5.85% total on the first S$100,000; anything above S$100,000 earns only the base rate.

The catch: missing even one category drops the effective rate well below the advertised headline.

Which bank gives 7% interest for a savings account?

Several banks offer promotional rates that reach or exceed 7% p.a., but these are usually short-term teaser deals or require very high monthly spending. Standard Chartered itself previously offered up to 7.68% on Bonus$aver until 1 May 2024, when a rate cut brought the maximum down.

Banks offering 7% p.a. or more

• Some promotional savings accounts from other banks have advertised rates above 7% for limited periods.
• SCB’s Bonus$aver once hit 7.68% p.a. (Channel NewsAsia, Singapore news outlet)

Conditions to get 7%

To qualify for premium rates, banks typically require a combination of salary crediting, credit card spending, and sometimes investment or insurance products. The trade-off is that you must meet all conditions every month or the rate drops.

Comparison with SCB Bonus$aver

SCB’s current maximum of 5.85% is below the 7% mark, but it’s a sustained, non-promotional rate. If you can satisfy the Bonus$aver requirements, the effective yield on balances up to S$100,000 is competitive with most high-interest savings accounts in Singapore.

The pattern: short-term high rates rarely beat a sustained competitive offer if you can meet the conditions.

What is the best bonus saver account?

There is no single “best” account; the right choice depends on your spending habits, income, and willingness to juggle conditions. Bonus$aver stands out for its high ceiling, but the base rate of 0.05% punishes those who don’t meet the requirements.

Top bonus saver accounts in Singapore

• SCB Bonus$aver – up to 5.85% p.a., requires salary credit, card spend, invest, insure.
• UOB One – offers up to 5% p.a. with salary credit and card spend.
• CIMB FastSaver – offers a base rate of 2.5% p.a. without minimum conditions.

The above rates are based on publicly available information; UOB and CIMB rates may change.

SCB Bonus$aver vs UOB One vs CIMB FastSaver

Here is a side-by-side comparison of the three accounts.

For related Singapore financial rates, see DBS Exchange Rate Today: Live Rates & Calculator and Mustafa Gold Price Today: 22K & 24K Rates Singapore.

Criteria for best account

• If you can manage all four Bonus$aver categories, SCB offers the highest yield.
• If you prefer a simple, no-conditions account, CIMB FastSaver provides a decent base rate without complexity.

The implication: your personal spending and investment habits should drive the choice.

Which is better, HSBC or Standard Chartered?

HSBC’s Everyday Global Account and SCB’s Bonus$aver both reward customers for salary crediting and card spending. Based on publicly available information, SCB currently offers a higher maximum rate (5.85% vs up to 5% at HSBC).

HSBC savings account rates

• HSBC Everyday Global Account offers up to 5% p.a. with salary crediting and card spend.
• Conditions vary by month and transaction type.

Standard Chartered Bonus$aver rates

• Up to 5.85% p.a. with four categories.
• Lower minimum card spend requirement (S$1,000 vs HSBC’s S$2,000).

Other factors: fees, requirements

• Both accounts have no monthly fees if conditions are met.
• SCB requires a minimum annual insurance premium of S$24,000 for the insure category (Standard Chartered Singapore, revision notice)

What this means: the best choice depends on whether you can satisfy the additional invest and insure requirements.

What are the requirements to earn bonus interest on SCB Bonus Saver?

To earn the full 5.85% p.a., you must satisfy all four bonus categories each month. Failing even one condition reduces the total bonus significantly.

Salary crediting requirement

• Minimum monthly salary credit: S$2,000 via GIRO, PayNow, or FAST (Standard Chartered Singapore, official product page)
• The bonus for salary crediting alone is 2.0% p.a. (reduced from 2.5% in the 2024 revision).

Minimum card spend

• Eligible spend of at least S$1,000 per month on the Bonus$aver World Mastercard Credit Card or Debit Card (Standard Chartered Singapore, revision notice)
• The card spend bonus is up to 1.85% p.a. depending on the tier.

Investment or insurance purchase

• Invest: Eligible Unit Trust or Online Equities activity held for a consecutive 6-month period.
• Insure: Minimum annual premium of S$24,000 for eligible insurance products (Standard Chartered Singapore, revision notice)

The catch: meeting all four categories is harder than it sounds, especially the invest and insure components.

Timeline of rate changes

Standard Chartered has revised Bonus$aver rates multiple times in recent years. Key milestones:

• 1 May 2024: Maximum rate cut from 7.68% to 7.68% (unchanged) – the card spend bonus was reduced (Channel NewsAsia, Singapore news outlet)
• 1 January 2026: Category thresholds revised; minimum card spend raised to S$1,000 (Standard Chartered Singapore, revision notice)
• 1 May 2026: Maximum rate lowered to 5.85% p.a. (Growbeansprout, Singapore personal finance blog)

The pattern: Standard Chartered has been steadily reducing the maximum rate, making it harder to achieve the advertised yield.

Quotes from the source

You will earn a prevailing interest rate of 0.05% p.a. on your entire deposit balance.

Standard Chartered Singapore (official product page)

Customers could still benefit from an attractive rate of up to 7.68% on deposits of up to S$100,000.

Standard Chartered spokesperson, quoted by Channel NewsAsia (May 2024)

For Singapore savers evaluating high-yield accounts, the Bonus$aver’s 5.85% remains among the top offers when all conditions are met. But the real test is whether your monthly financial behaviour aligns with four separate requirements. If you can consolidate salary, spending, and long-term investing or insurance within Standard Chartered, the payoff is clear: a rate that outpaces most competitors. If not, a simpler account may deliver better net returns without the risk of missing a condition.

Frequently asked questions