30 Apr 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.


Salary Credit vs. No Salary Credit: What’s The Difference?

Savings accounts that require salary crediting can provide high interest, but in reality, that’s not the only condition. In many cases, you’d be required to fulfil multiple tasks, including spending a certain sum on a credit card, purchasing insurance products, investing a minimum monthly sum, or even completing a certain number of GIRO transactions.

Furthermore, many such savings accounts require salary crediting as a non-negotiable item. This means your salary must be credited via transactions marked with specific codes such as SALA, PAYNOW SALA, or GIRO-SALARY. 

If conditions are not met, you will only receive the base interest rate. In Singapore, the base interest rates of standard bank accounts are usually at only 0.05% per annum (p.a.). However, there are alternatives!

What to Look Out For in a Savings Account Without Salary Crediting Requirements?

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.


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.

Who Should Choose a Savings Account Without Salary Crediting Requirements?

Savings accounts that do not require salary crediting are ideal for those who do not earn regular salaries. This includes:
 


1. Freelancers
2. Gig workers and delivery riders
3. Commission-based earners
4. Solopreneurs
5. Students and retirees

With such a savings account, non-salaried individuals can earn higher interest on their savings and better preserve their purchasing power, especially when compared to simply leaving their money in a basic account that earns the base rate of 0.05% p.a.


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.