Digital banks have recently sprung up in Singapore with the likes of GXS and Trust bank which offer
no minimum balance and
attractive interest rates that accrue daily.
Talk about
compound interest!
Source: Giphy
But what exactly are digital banks? Should you open an account with one?
Read on to find out!
TL;DR: Best Digital Bank Accounts (2023)
| Account |
GXS Savings Account |
Trust Bank Savings Account |
Mari Savings Account |
| Base interest rate (p.a., accrued daily) |
0.08% |
1.50% (for deposits up to $75k)
0.05% (for deposits above $75k) |
2.50% |
| Card Spend |
- |
Additional 0.5% (with 5 eligible purchases on the Trust Link card on deposits up to $75k)
Additional 1% (with 5 eligible purchases on the NTUC Link card on deposits up to $75k) |
- |
| Bonus |
Additional 3.48% for saving money into pockets (up to 8) |
- |
- |
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