The June 2026 snapshot
As of June 2026, Singapore's digital banks are competing hard on savings rates:
| Digital bank | Rate | Conditions |
|---|---|---|
| GXS Bank | 3.00% p.a. | — |
| MariBank | 2.68% p.a. | No conditions — no salary crediting, minimum balance, or minimum spend required |
| Trust Bank | Up to 2.40% p.a. | Under Flex/Signature plan, subject to bonus criteria |
MariBank's headline feature is the lack of any conditions attached to its 2.68% rate — no salary crediting, no minimum balance, no minimum spend. That's a meaningfully simpler proposition than most traditional bank multiplier accounts, which typically require several conditions stacked together to reach their advertised top rate.
The squeeze on traditional banks, from both directions
Digital banks apply competitive pressure to traditional banks in two separate places at once, and June 2026's rate comparison makes both visible.
On deposits: a saver comparing MariBank's unconditional 2.68% against a traditional bank's multiplier account — which might require salary crediting, a minimum card spend, and an investment or insurance product just to unlock a comparable rate — has to weigh whether the traditional bank's bundled requirements are worth the hassle for a similar or, in some periods, lower effective yield.
On card fees: the same digital banks issuing these savings accounts often pair them with no-annual-fee cards. So the comparison a customer makes isn't just which savings rate is higher — it's which bank asks less of them overall, on both deposits and cards.
Why this matters even if you're not switching banks
Most people don't move their entire banking relationship over a rate difference of a few tenths of a percent. But the existence of unconditional, competitive digital bank rates changes what a good deal looks like at your traditional bank. If your traditional bank's multiplier account rate has been trimmed (as several have been this year) while digital banks hold steady or even improve their rates, the relative gap widens — and that gap is a legitimate part of the case for asking your traditional bank about anything negotiable, including your credit card's annual fee.
A practical way to use this comparison
If you're already maintaining a relationship with a traditional bank for reasons beyond the interest rate — mortgage, wealth products, or simply preferring the branch network — this comparison is a useful prompt to check two things: whether your savings are still parked in the best-yielding account available to you at that bank, and whether your credit card's annual fee is something you've actually asked to have waived recently, rather than letting it post automatically.
The clawbacks.ai approach
Whatever you decide about where to park your savings, our AI agent can independently handle the credit card side of the equation — calling your bank and requesting the annual fee waiver, so an unfavourable savings rate comparison doesn't have to also mean an unwaived card fee.
20% success fee only if the waiver goes through. Nothing if it doesn't.