MariBank Review 2026: Honest Look at Rates, Fees and the Mari Card

MariBank is the digital bank that advertises 3.08% p.a. on its savings account. That number is real. It is also temporary.

In this MariBank review, the key detail is that the rate applies to new customers for the first 30 days after account opening, and only if they also hold ShopeeVIP and credit a salary. After day 30, a fully qualified saver earns 1.48% p.a. Everyone else earns 0.88%. Some Singaporeans see that gap and call the headline misleading. Others see a free, MAS-licensed account with a no-minimum-spend credit card and call it a sensible base. Both camps have a point.

Whether MariBank is worth opening depends on what you plan to do with it. A salary-crediting Shopee shopper gets a different account from someone parking an emergency fund and never touching the card.

This review checks MariBank’s own product page and help centre against independent reviews from SingSaver and MoneySmart. It covers the savings account, the Mari Credit Card, the Mari Debit Card and the Instant Loan, with every figure dated to October 2026. Here is the complete, honest verdict.

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MariBank Review at a Glance

Factor	Rating
Savings interest rate	⭐⭐⭐ 3.5/5
Credit card value	⭐⭐⭐⭐ 4.0/5
Ease of sign-up and daily use	⭐⭐⭐⭐⭐ 4.5/5
Overseas transfers and FX	⭐⭐⭐⭐ 4.0/5
Instant Loan	⭐⭐⭐ 3.5/5
Customer support	⭐⭐⭐ 3.5/5
Best for	Salary-crediting Shopee users who want a flexible, no-lock-in savings account and a simple cashback card
Not ideal for	Savers chasing the highest rate with no conditions, and anyone who needs branches, joint accounts or deposit-backed lending
Free plan	Yes — no fees to open or maintain the account
Starting price	S$0 (no minimum deposit, no fall-below fee)
Overall rating	⭐⭐⭐ 3.9 / 5

→ Open a MariBank account with code 8ZUU96EA

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What Is MariBank?

MariBank is a digital full bank licensed by the Monetary Authority of Singapore. It is owned by Sea Limited, the parent company of Shopee. MAS awarded two digital full bank licences in December 2020 — one to Sea and one to the Grab-Singtel consortium behind GXS Bank. MariBank opened to the public in 2022.

The bank runs entirely through one app. There are no branches. You open an account with Singpass MyInfo and no documents.

Three products carry most of the weight. The Mari Savings Account pays daily interest and sits at the centre of everything else. The Mari Credit Card pays 1.5% cashback with no minimum spend. The Instant Loan lends against your credit assessment and pays out to the card.

Singapore-dollar deposits are insured by SDIC up to S$100,000 per depositor per bank. Foreign-currency deposits, structured deposits, dual currency investments and investment products are not insured.

One caveat before the details: this is a promotion-driven product. MariBank adjusts its bonus rates and sign-up rewards often, so I link to current promotion pages rather than repeat every figure here.

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MariBank Pricing in 2026: The Full Breakdown

MariBank charges no fee to open or keep the savings account. The credit card has no annual fee. The only product with real cost is the Instant Loan.

Mari Savings Account — S$0

The account pays a base rate of 0.88% p.a., credited daily and calculated on the previous day’s balance. There is no minimum deposit, no minimum spend and no fall-below fee. Local transfers are free. The cancellation fee is waived.

Bonus interest runs from 17 August to 31 December 2026 and stacks on the base rate:

Bonus	Rate	Condition
Welcome bonus	+1.60% p.a.	New accounts, first 30 days only
ShopeeVIP bonus	+0.40% p.a.	Active ShopeeVIP subscription
Salary crediting bonus	+0.20% p.a.	At least one salary credit of S$500, via GIRO, PayNow or FAST

Add everything and a new customer earns up to 3.08% p.a. for 30 days. After that, a customer who holds ShopeeVIP and credits a salary earns 1.48% p.a. A customer with neither earns the 0.88% base.

Here is what that means on S$20,000:

Scenario	Rate	Interest
Base rate only	0.88% p.a.	S$176 per year
Base + ShopeeVIP + salary	1.48% p.a.	S$296 per year
First 30 days, all bonuses	3.08% p.a.	About S$51 for the month

Best for savers who want a free, flexible account with no lock-in.

Mari Credit Card — S$0 annual fee

The card pays 1.5% unlimited cashback with no minimum spend and no category caps. There is no annual fee. Cashback is credited automatically against your next card bill. You need a Mari Savings Account to apply.

Overseas, MariBank removed its foreign transaction fee in 2026. MariBank’s promotion page lists the zero-fee benefit through 31 December 2027. One catch applies: if a merchant charges you in Singapore dollars abroad, Mastercard adds a 1% currency conversion fee. Pay in the local currency to avoid it.

Interest on an unpaid balance is 27.99% p.a. Late interest is 30.99% p.a.

New cardholders get extra rewards through 31 December 2026, including S$30 welcome cashback on S$300 of non-Shopee spend within 30 days and a S$50 Shopee voucher pack. Current terms live on the MariBank promo page.

Best for light-to-moderate spenders who want cashback without tracking categories.

Mari Debit Card — S$0

The debit card links to the savings account and needs no credit check. It pays 0.5% cashback on Singapore-dollar spend and 0.5% on the first S$1,500 of foreign-currency spend each month, valid until 31 December 2026. Apple Pay and Google Pay are supported, and a physical card is available on request.

Best for people who cannot or do not want to take the credit card.

Instant Loan — interest and an early repayment fee

The Instant Loan is a personal loan that pays out to your Mari Credit Card. Here are the published terms:

Item	Detail
Flat rate	From 1.28% p.a.
Effective interest rate	From 1.92% p.a. (3-month tenure)
Amount	S$100 to S$100,000
Tenure	3 to 60 months
Processing fee	S$0
Early repayment fee	S$100 or 3% of unpaid principal, whichever is higher
Partial repayment	Not allowed — full settlement only
Late interest	30.99% p.a.

MoneySmart’s April 2026 review puts a S$10,000 loan over 12 months at S$844 a month, S$10,128 in total. The rate you receive depends on your credit profile and is shown in the app before you confirm. Loan applicants must be Singapore Citizens or PRs aged 21 or above, with annual income of at least S$30,000 (S$15,000 if aged 56 or above).

Through 31 December 2026, MariBank refunds 100% of the interest on a first one-month loan. Check the promo terms for the repayment conditions.

Best for borrowers who need fast cash and can handle fixed monthly repayments.

Hidden Costs to Know About

The headline rate is a 30-day rate. The 3.08% figure needs the welcome bonus, which lasts 30 days. Plan for 1.48% at best and 0.88% at base.

ShopeeVIP is not free. The +0.40% bonus requires an active paid subscription. On S$20,000 the bonus is worth S$80 a year. If you would not pay for ShopeeVIP anyway, do not subscribe for the interest.

Salary credits must carry the right code. The +0.20% bonus, per MariBank’s salary crediting rules, counts only local SGD transfers coded “SALA” or “PAYNOW SALA”. Transfers from an individual — including your own accounts at other banks — do not count.

Early loan repayment costs money. The S$100-or-3% fee applies if you settle early, and you cannot repay part of the loan.

Overseas ATM access is thin. I could not find overseas ATM withdrawal terms for the credit card or debit card on MariBank’s own pages. Check the app before you travel if you rely on foreign cash.

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Core Features: What MariBank Actually Does

Daily Interest With No Lock-In

This is the feature that holds up best. Interest accrues daily and you can withdraw at any time. There is no minimum balance to keep and no fee for falling below one.

MariBank’s help centre states there is no cap on how much of your balance can earn bonus interest. The S$100,000 figure people often quote is the SDIC insurance limit, not a balance ceiling. Some third-party reviews still describe an account cap of S$75,000 or S$100,000. I could not find one in MariBank’s own documentation.

That matters for anyone holding more than S$100,000: the extra above the insured limit earns interest but sits outside SDIC cover.

Overseas Transfers With S$0 MariBank Fees

MariBank charges no transfer fee on overseas transfers through 31 December 2026. The promotion covers 21 currencies across more than 59 destinations, including instant transfers to China, India, Thailand, Canada, Indonesia and the UK.

The waiver covers MariBank’s own fee only. Recipient banks and intermediaries can still charge. MariBank also runs a best-FX-rate guarantee promotion on selected currencies, so check its promo page for the list and the end date.

This is the strongest reason to keep MariBank open even if you move your savings elsewhere.

Mari Credit Card — Quiet but Consistent

The card does not have a headline category rate. It pays 1.5% on everything with no spend threshold. For a cardholder spending S$800 a month, that is S$12 a month, or S$144 a year, with no tracking.

It will not beat a specialist miles or category card. It also costs nothing to hold. Under MariBank’s eligibility rules, foreigners aged 21 or above can apply with a valid pass — including Employment Pass and S Pass holders — if the pass has at least six months’ validity. Singaporeans and PRs need S$30,000 in annual income if aged 21–55, or S$15,000 if aged 56 or above. Applicants aged 21–55 earning under S$30,000 may be considered for a S$500 limit.

Sign-Up Rewards

MariBank runs a monthly referral programme alongside its standing promotions. In October 2026, the referral cash is S$8 for the savings account and Invest bundle and S$15 for the Credit Card and Instant Loan bundles, paid to both sides. The MariBank referral code page carries the current figures, and the MariBank promo guide lists every live offer. For a walkthrough of entering the code, see the step-by-step guide to referral code 8ZUU96EA.

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The Honest Assessment: What Holds Up and What Does Not

What holds up. The account opens in minutes with Singpass and no paperwork. Fees are close to zero across the savings account and credit card. Deposit insurance (see MariBank’s SDIC explainer) and MAS licensing put MariBank in the same safety bracket as other Singapore banks for SGD deposits. SingSaver and MoneySmart both describe the same core: flexible savings, a simple card and a fast loan.

What independent reviewers flag. Two limits come straight from MariBank’s own pages: the bonus tiers depend on ShopeeVIP and salary crediting, and there are no branches. MoneySmart flags the loan’s link to the credit card, the lack of partial repayment and the early repayment fee.

The most consistent negative pattern. Third-party reviews of MariBank often quote rates and caps from earlier promotions. A SingSaver review last updated in December 2025 lists a 2.88% flat rate and a S$75,000 cap, and it contradicts itself on both. Neither figure matches MariBank’s current product page. Check any review’s date before trusting its numbers, this one included.

Customer support. MariBank lists in-app live chat as its preferred channel, a main hotline on +65 6995 8688 and email through its online form. General enquiries run 24/7. Mari Invest and Business Banking enquiries run 8AM to 8PM on weekdays. MariBank publishes no response-time targets, so I rate support at 3.5 out of 5 on coverage alone.

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MariBank vs GXS Bank: Which Should You Choose?

GXS is the closest competitor — the other digital full bank. GXS rates below come from its savings account page in October 2026.

Factor	MariBank	GXS Bank
Base rate	0.88% p.a.	0.88% p.a. (Main Account)
Bonuses	+1.60% (30 days, new), +0.40% ShopeeVIP, +0.20% salary	Saving Pockets 1.2% p.a. (limited-time promo, no lock-in); Boost Pocket bonus paid at maturity
Maximum rate	3.08% for 30 days, then 1.48%	2.00% on an 18-month Boost Pocket (1.75% on 12 months)
Lock-in	None	Required for Boost Pocket bonus

MariBank wins on flexibility and on the first month. GXS wins if you can lock money away for one to 18 months. GXS also lists a limited-time Saving Pocket at 1.2% p.a. with no lock-in, so GXS can beat MariBank’s 0.88% base for savers who do not use Shopee or credit a salary.

My recommendation: keep an emergency fund at MariBank and put money with a known end date into a GXS Boost Pocket. Many people sensibly hold both. The MariBank vs GXS Bank comparison goes deeper, and the best digital banks guide adds Trust Bank.

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Who Should Use MariBank

MariBank is a strong fit if:

• You credit a salary of at least S$500 to the account and hold or plan to hold ShopeeVIP, so you reach the 1.48% tier.
• You want a savings account with no lock-in, no minimum balance and no fall-below fee.
• You want a 1.5% cashback card with no annual fee and no spend threshold.
• You send money overseas often and want to avoid MariBank’s own transfer fee.
• You are a new customer who wants the 30-day welcome bonus and sign-up rewards.

MariBank is not a strong fit if:

• You want the highest unconditional savings rate. At 0.88% base, MariBank does not lead on rate once the 30 days end.
• You do not use Shopee and would not pay for ShopeeVIP just for 0.40%.
• You need branches, cash deposits or a joint account.
• You hold substantial foreign-currency deposits and expect them to be insured. SDIC does not cover them.
• You expect to borrow and repay early. The early repayment fee and the no-partial-repayment rule work against you.

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Is MariBank Worth It in 2026?

For most people, yes — as one account among several, not as the only one. The account is free, the card is free and the welcome bonus pays out in the first month. The downside is small, because there is no minimum balance to maintain.

The salary bar is the practical advantage. MariBank’s bonus needs one S$500 salary credit through GIRO, PayNow or FAST, and no minimum balance.

Run this test during the first 30 days. Move S$10,000 into the account. Credit a S$500 salary with the correct purpose code if you can. Spend S$300 on the card on non-Shopee purchases. Then check the daily interest in the app against the rates above. If the numbers match and the app suits you, decide whether to move more.

→ Open MariBank with referral code 8ZUU96EA

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Frequently Asked Questions

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Final Verdict

MariBank earns 3.9 out of 5 stars.

In this MariBank review, the highest marks went to ease of sign-up and the credit card. The account opens in minutes, the card pays 1.5% with no minimum spend and the fees are close to zero. Overseas transfers earned strong marks for the S$0 MariBank fee and the zero foreign transaction fee on the card.

Points came off for the savings rate and the loan. The 3.08% headline lasts 30 days, and the long-run ceiling of 1.48% depends on both ShopeeVIP and a salary credit. Without them, the base rate is 0.88%. The Instant Loan loses points for the early repayment fee and the lack of partial repayment. The previous version of this review scored 4.3 using a 2.88% maximum rate that no longer matches MariBank’s own pages.

My recommendation: open MariBank if you credit a salary, use Shopee or want a flexible emergency-fund account, and treat the welcome bonus as a first-month extra. Look elsewhere if you want the highest unconditional rate or need branches and joint accounts.

Rates and rewards change monthly. Check the app and the current MariBank promo guide before you deposit.

→ Open MariBank with referral code 8ZUU96EA

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Have you used MariBank for a few months? Tell me in the comments whether the 1.48% tier was worth the effort.

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Continue reading:

• MariBank Promo: Every Live Offer, Ranked and Explained
• MariBank vs GXS Bank: Which Digital Bank Wins?
• How to Switch Your Salary Account in Singapore