20 Jul 2026

Bank savings accounts in Singapore advertise attractive headline interest rates, but earning the full interest takes jumping through some hoops. One common requirement is to credit your monthly salary – that’s well and good for salaried employees, but not so good for the self-employed. 

For freelancers, commission earners, or anyone who doesn’t earn a salary, there are alternatives. Some savings accounts don’t require salary crediting yet provide interest that’s significantly higher than base interest rates, allowing you to get more from your savings with no strings attached.

What to Look Out For in a Savings Account?

Savings accounts without salary credit requirements may not offer the highest interest rates, but they may well prove to be a satisfying fit for your lifestyle and preferences. Here’s what to look out for when evaluating these accounts.

Base Interest Rate
The base interest rate is what you will receive on your savings, no matter what. The interest amount is calculated based on the balance in your savings account and credited into your bank account at fixed intervals.

Daily vs. Monthly Interest Crediting
While savings account interest is commonly credited once a month, some newer digital banks offer daily interest crediting. This means you will receive interest on your savings every day, motivating you to keep working hard at your savings goals.

Maximum Effective Interest
Some savings accounts offer bonus interest even without crediting your salary. It is worth understanding the maximum effective interest offered and noting the specific requirements to earn it (such as maintaining or increasing your balance monthly). This may not be the best choice for you if you do not consistently build up your savings.

Minimum Balance Requirements
Many savings accounts come with a minimum balance requirement. If your balance drops lower, you may be subject to a fall-below fee. However, if you are using the account specifically to grow your emergency funds, this should not be an issue.

Liquidity and Flexibility
Simply put, this means the ease with which you can withdraw your money when necessary, and how convenient the process is. While most transactions in Singapore can be performed electronically, it’s still a good idea to check if popular services such as PayNow are integrated – this could make the difference between a seamless experience and a frustrating one.

Different Types Of Savings Account

Understanding how different savings accounts work helps you pick the right vehicle for your cash.

Salary Credit Accounts
These traditional accounts unlock their highest interest rates only when you credit a minimum monthly salary (usually via specific GIRO or PayNow codes). They are designed primarily for full-time employees receiving predictable, monthly payroll transactions.


Bonus Interest Accounts
These tiered accounts reward you with additional interest for completing specific banking actions each month—such as spending on linked credit cards, investing, or growing your account balance—even if you don’t credit a salary.


Digital Banking Savings Accounts
Offered by fully digital banks, these accounts skip the physical branches to offer competitive base interest rates with zero hidden conditions, zero minimum balances, and often daily interest payouts.

Mari Savings Account: A Flexible, No-Minimum Option

The Mari Savings Account is one of the most straightforward options for Singaporeans seeking bonus interest without salary crediting requirements. It offers a flat 0.88% p.a. on all your deposits.

Unlike traditional banks, Mari Savings Account pays interest daily. Your interest is calculated at the end of the day, and credited to your account the following day, offering total transparency.

There’s no fall-below fee, no minimum initial deposit, and no cancellation fee. The best part? Mari Savings Account is SDIC-insured. This means your deposits are insured up to S$100,000 by the Singapore Deposit Insurance Corporation.


MariBank-ShopeeVIP Interest Rate Structure Breakdown

*Bonus Rate for New User (first 30 days) applies only to the first S$100k.

Starting from 20 July 2026, MariBank offers ShopeeVIP subscribers and new MariBank customers up to 2.88% p.a. interest on balances up to S$100k, with interest credited daily.

ShopeeVIP subscribers with a linked Mari Savings Account will be eligible for the bonus interest rate with interest credited daily. Customers will see this bonus interest rate from 20 July 2026 and need to claim this reward in the MariBank app to start earning higher interest on their savings.

Conclusion: Mari Savings Account - Fuss-free Interest Without the Hassle

The Mari Savings Account is designed for those who want a straightforward way to earn higher interest on their savings without salary crediting, minimum spends, or additional banking transactions to fulfill every month.

Perhaps the most attractive feature of the Mari Savings Account is its fixed interest rate with no hoops, paid on your entire deposit balance. This makes it a highly competitive and fuss-free choice for those looking to build their emergency fund or save for a big milestone.

So why not check it out for yourself?

Apply for Mari Savings Account

Deposit Insurance Scheme Member
Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$100,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.