Which bank should I use Singapore?

OCBC. CIMB. Maybank. RHB Bank.

Which bank is best for foreigners in Singapore?

UOB is considered an expat-friendly bank in Singapore, offering up to 10% cashback and competitive rates for your overseas expenditure. HSBC is also a preferred option by many ex-pats because of its Multi-Currency Savings Account, providing access to 11 currencies and great global great facility.

Which bank is best for saving in Singapore?

Best Savings Accounts in Singapore

Product Name Mininum deposit Max Annual Interest Rate
DBS Multiplier Account S$ 0 3 %
BOC SmartSaver S$ 1,500 3 %
Maybank Save Up Programme S$ 500 3 %
OCBC 360 Account S$ 1,000 2.68 %

Which bank is strongest in Singapore?

DBS (Development Bank of Singapore) established in 1968, is considered the largest bank in Singapore and Southeast Asia, as measured by assets. It is a leading consumer bank in Singapore and Hong Kong, serving over 4 million and 1 million retail customers respectively.

How do I decide which bank to use?

8 tips for choosing the best bank

  1. Think about what types of accounts you want to open.
  2. Find out what other services it offers.
  3. Consider interest rates.
  4. Look for low-fee institutions.
  5. Choose between brick-and-mortar or online.
  6. Choose between a bank, credit union, or banking platform.
  7. Make sure your bank is accessible.
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Which bank is safest in Singapore?

The Global Safest Banks listing was released in the last quarter of 2017, with Singapore banks dominating the rankings. DBS came in 1st in the region, followed by OCBC and UOB who came in 4th and 5th respectively.

Which is better DBS or OCBC?

In summary, choose DBS if you have a strong conviction in Singapore and China, OCBC if you prefer a reduced concentration in Singapore, and UOB if you have a positive sentiment for Southeast Asia in general.

Which bank has the best interest rate in Singapore?

Highest Interest Rate Accounts

Bank Account Highest Bonus Interest Min Deposit
Maybank Save Up Programme Up to 3.00% p.a. S$500
DBS Multiplier Account Up to 3.00% p.a. None
BOC SmartSaver Up to 3.00% p.a. S$1,500
UOB One Account Up to 2.5% p.a. S$1,000

Which bank account should I open in Singapore?

Best Savings Accounts Overall

  • OCBC 360: You’re a consistent saver with a stable budget.
  • SC Bonus$aver: You’re a high-earner open to a banking relationship with Standard Chartered.
  • DBS Multiplier: You’re a high-earning DBS loyalist with financial savvy.
  • Maybank SaveUp: You’re a moderate saver in charge of the household.

Which DBS account is best?

Best savings accounts for salaried workers

Savings account Interest rate Minimum balance
DBS Multiplier Account 0.4% No min. balance until age 29 (subsequently S$3,000)
UOB One Account 0.50% S$1,000
Standard Chartered Bonus$aver 0.31% S$3,000
OCBC 360 Account 0.45% S$3,000

Is UOB a good bank?

Today, UOB is rated among the world’s top banks: ‘Aa1’ by Moody’s and ‘AA-‘ by Standard & Poor’s and Fitch Ratings.

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What is the most popular bank in Singapore?

Top Banks in Singapore

  • DBS Bank. DBS Bank Ltd (formerly Developmental Bank of Singapore) is the largest bank in Singapore and South East Asia by total assets. …
  • OCBC Bank. …
  • Standard Chartered. …
  • Citibank Singapore. …
  • HSBC Bank.

What is the best bank in Asia?

Top 10 Largest Banks in Southeast Asia

  1. DBS Bank. DBS Bank is the largest bank by assets in Southeast Asia, with over 24,000 employees, 250 branches, and 1100 ATM machines across 50 different cities.
  2. OCBC Bank. …
  3. United Overseas Bank. …
  4. Maybank. …
  5. CIMB. …
  6. Bangkok Bank. …
  7. Kasikornbank. …
  8. Public Bank Berhad. …

Why local banks are better?

Lower Fees: Local banks and credit unions offer more free accounts and charge fewer fees. According to Money-Rates.com, 43 percent of small banks’ checking accounts had no monthly maintenance fees compared to only 25 percent at large banks. Overdraft fees and ATM fees continue to rise in the megabank world as well.

Who is the best bank to bank with?

Best banks, credit unions and neobanks

Financial institution Best for …
Upgrade Overall, cash-back rewards.
Charles Schwab Overall, ATM availability.
Ally Bank Overall, flexible overdraft options.
Alliant Credit Union Overall, high rates.

How do I choose a bank for my savings account?

There are a few things you’ll want to consider to figure out which savings account you should open:

  1. Decide how you’ll use it. …
  2. Figure out what’s important to you. …
  3. Decide whether you want to use your existing bank. …
  4. Consider interest rates. …
  5. Read the fine print for fees. …
  6. Don’t put too much pressure on your decision.
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