Best Digital Banks in Singapore 2026: MariBank, GXS, and Trust Bank Ranked and Compared
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Best Digital Banks in Singapore 2026: MariBank, GXS, and Trust Bank Ranked and Compared
The three digital banks MAS licensed in Singapore are not interchangeable.
They all offer savings accounts with higher-than-standard interest rates. They all operate through apps, charge zero monthly fees, and are insured under the SDIC scheme. Beyond those baseline similarities, they are built for different users — and picking the wrong one because you were chasing the highest headline interest rate is a mistake I see constantly in the personal finance forums.
MariBank is built around the Shopee ecosystem. GXS Bank is built around Grab. Trust Bank is backed by Standard Chartered and FairPrice Group. Each bank’s bonus interest conditions, partner integrations, and product depth reflect those parent relationships. If you are not in those ecosystems, the headline rates are not the rates you will actually earn.
Here are the best digital banks in Singapore in 2026 — with the conditions spelled out, not buried.
What to Look For in a Digital Bank
Base interest rate, not just the headline rate. The base rate is what you earn unconditionally. The headline rate requires fulfilling specific conditions — salary crediting, minimum transactions, partner purchases. Evaluate what rate you will realistically earn based on your actual behaviour.
Interest crediting frequency. Daily crediting compounds faster than monthly crediting, even at the same stated rate. Over a full year on a S$50,000 balance, daily vs monthly crediting produces a small but real difference in actual earnings.
Deposit cap. All three digital banks cap deposits at S$100,000. This is a MAS requirement for digital full bank licensees. If your total savings approach or exceed this, you will need additional accounts elsewhere.
Bonus interest conditions and their stability. Some banks update their bonus interest terms frequently — conditions that applied three months ago may have changed. Check the current active terms in the app, not the marketing materials.
Credit card availability. Only MariBank and Trust Bank currently offer credit cards. GXS operates with a debit card product only.
Customer support quality. All three banks are app-only with no branch access. The quality of in-app chat support varies significantly — this matters most when something goes wrong.
The Best Digital Banks in Singapore in 2026
| Bank | Best For | Base Interest Rate | Max Interest Rate | Credit Card |
|---|---|---|---|---|
| MariBank | Shopee users, salary creditors | 0.88% p.a. (daily) | Up to 2.88% p.a. | Yes — 1.5% cashback |
| GXS Bank | Grab users, higher base rate seekers | 2.68% p.a. (introductory) | Up to 4.48% p.a. | No (debit only) |
| Trust Bank | FairPrice shoppers, Standard Chartered customers | 2.5% p.a. (introductory) | Up to 3.5% p.a. | Yes — NTUC FairPrice cashback |
1. MariBank — Best for Shopee Users and Daily Interest
→ Open MariBank and use referral code 8ZUU96EA for up to S$15 cash
MariBank is backed by Sea Group (Shopee, SeaMoney, Garena) and the integration shows. The Mari Savings Account earns 0.88% p.a. base interest credited daily — no conditions, no minimum balance, no monthly spend requirements. That daily crediting is the headline feature: it is the only major Singapore bank that credits interest the following day rather than month-end.
The headline rate of 2.88% p.a. requires fulfilling the Shopee VIP bonus interest promotion and the 0.20% p.a. salary crediting bonus simultaneously. If you actively use Shopee and can credit a salary of at least S$500 per month, this is achievable. If you do not use Shopee, you are looking at 0.88%–1.08% p.a. in practice.
The Mari Credit Card adds 1.5% flat cashback on local spend — simple, no category conditions, no minimum spend. The Shopee Instant Checkout integration is the card’s strongest differentiator for heavy Shopee users.
MariBank also runs recurring promotions: the August 2026 Salary Switch campaign pays S$50 cash for first-time salary crediting of at least S$500, and referral bonuses of S$8–S$20 (depending on product) for both the referrer and new user.
What MariBank is great at:
- Daily interest crediting with zero conditions on the base rate
- Zero overseas transfer fees
- App quality — clean, fast, transparent interest breakdown
- Shopee ecosystem integration (credit card, Shopee VIP bonus interest)
Where it falls short:
- The headline rate requires Shopee VIP status — non-Shopee users earn significantly less
- Customer support wait times can be long during peak hours
- No investment products deep enough for active investors
- S$100,000 deposit cap applies
Pricing:
- Mari Savings Account: Free, no fees, no minimum balance
- Mari Credit Card: Free, no annual fee, bundled with savings account
Bottom line: MariBank is the strongest choice for Singapore residents who actively use Shopee and can meet the salary crediting condition. For everyone else, the daily interest crediting on the base rate is still better than most traditional bank savings accounts — but the headline rate will not materialise without the Shopee integration.
→ See the full MariBank referral code guide and current sign-up bonuses
2. GXS Bank — Best for Grab Users and Higher Introductory Rates
GXS Bank is backed by Grab and Singtel, and its product design reflects its roots in the Grab ecosystem. The base interest rate is higher than MariBank’s — 2.68% p.a. in introductory conditions — but interest is credited monthly rather than daily.
The headline bonus rate of up to 4.48% p.a. requires fulfilling GXS’s FlexiDeposit conditions (locking a portion of your funds for a term period) combined with active salary crediting and meeting minimum GrabPay transaction thresholds. For Grab-heavy users who regularly use GrabPay for food delivery, transport, and groceries, these conditions are realistic. For users outside the Grab ecosystem, the achievable rate is lower.
GXS does not currently offer a credit card — it operates on a debit card model. This is a meaningful gap compared to MariBank and Trust Bank, and limits its usefulness for people optimising cashback earn on daily spend.
What GXS Bank is great at:
- Higher introductory base interest rate
- Grab ecosystem integration and GrabRewards stacking
- FlexiDeposit options for users who want to lock in a rate on a portion of savings
- Zero monthly fees
Where it falls short:
- No credit card product — debit only
- Monthly interest crediting rather than daily
- Bonus conditions tied to Grab usage, which is not universal
- App experience rated slightly below MariBank in user reviews
Pricing:
- GXS Savings Account: Free, no monthly fees
- No credit card product currently
Bottom line: GXS is the stronger choice if you are deeply embedded in the Grab ecosystem and want to maximise interest on a portion of locked savings via FlexiDeposit. The higher headline rate is real — but it requires Grab-specific qualifying conditions. For people who do not use Grab regularly, MariBank’s daily crediting on a more accessible base rate is a more reliable choice.
3. Trust Bank — Best for NTUC FairPrice Shoppers
Trust Bank is backed by Standard Chartered and NTUC Enterprise (the parent of FairPrice, the largest supermarket chain in Singapore). This partnership produces the bank’s most distinctive feature: the Trust Credit Card earns FairPrice linkpoints on FairPrice purchases, stacking on top of the base cashback structure.
Trust Bank’s interest rates are competitive — a base rate of 2.5% p.a. with bonus conditions that can push the effective rate toward 3.5% p.a. for active users. Like GXS, interest is credited monthly.
The Trust Credit Card is the product where Trust Bank stands out from its digital bank peers. It offers 1.5% cashback on general spend (matching MariBank’s card) but adds FairPrice-specific benefits and LinkPoint earning — meaningful for households that do a significant portion of their grocery and daily spending at FairPrice, Unity, or Cold Storage.
The Standard Chartered backing also means Trust Bank has access to a broader range of financial product integrations than a pure digital bank would typically offer, including home loan tie-ins for existing Standard Chartered customers.
What Trust Bank is great at:
- FairPrice ecosystem integration — the strongest choice for households with significant FairPrice spend
- Standard Chartered banking relationship benefits for existing customers
- Credit card product with both cashback and LinkPoints stacking
- Competitive base interest rate without Shopee or Grab dependency
Where it falls short:
- Monthly interest crediting, not daily
- Bonus conditions require FairPrice spending to maximise
- Less relevant for people who do not shop at FairPrice regularly
- App experience is good but not at the same level as MariBank in terms of interest rate transparency
Pricing:
- Trust Savings Account: Free, no monthly fees
- Trust Credit Card: Free, no annual fee
Bottom line: Trust Bank is the right choice for NTUC-heavy households — people who shop regularly at FairPrice, Unity, or Cold Storage and want to stack grocery savings with interest rate benefits. It is also the better option for existing Standard Chartered customers who can benefit from cross-product integration.
How to Choose the Right Digital Bank
If you spend heavily on Shopee and want daily interest crediting → MariBank is the clear answer. The daily crediting alone differentiates it, and the Shopee VIP bonus is the largest bonus interest component available to active Shopee users. Use referral code 8ZUU96EA to collect up to S$15 on signup.
If you are a heavy Grab/GrabPay user and want the highest achievable bonus rate → GXS Bank. The FlexiDeposit option lets you lock a portion of savings at a higher rate, and the Grab ecosystem integration is the most relevant bonus interest condition for active Grab users.
If your household does a significant portion of grocery and daily spending at FairPrice → Trust Bank. The LinkPoint stacking on the credit card creates value that neither MariBank nor GXS can match for FairPrice shoppers.
If you use none of these ecosystems (Shopee, Grab, FairPrice) → Open whichever account has the highest unconditional base rate at the time of your decision and check quarterly whether that has changed. The promotional rates shift frequently, and the bank with the best unconditional rate will change over time.
If you want to maximise total interest across all three → Open all three accounts (each is free and takes under 15 minutes) and split your savings across them, keeping each balance below the S$100,000 cap. This is the approach for people who want to stack every available bonus condition and are willing to manage three banking apps.
The Best Digital Banking Stack for Singapore Savers
For most Singapore residents trying to maximise savings interest without excessive complexity, the practical recommendation is:
Primary savings account: MariBank (if Shopee user) or GXS (if Grab user) — whichever ecosystem you actively use. Credit your salary here to unlock the bonus interest.
Secondary savings buffer: Open a second digital bank account with a portion of your emergency fund (S$10,000–S$20,000) to earn better rates than a traditional bank’s passbook savings while staying diversified.
Credit card: Use your bank’s paired credit card for daily spend (MariBank or Trust) to stack partner ecosystem rewards on top of savings interest.
Total monthly management time: approximately 10 minutes to verify that your bonus interest conditions are still being met and that no terms have changed.
Frequently Asked Questions
Are Singapore’s digital banks safe? Are they regulated by MAS?
Yes. MariBank, GXS Bank, and Trust Bank all hold digital full bank licences issued by the Monetary Authority of Singapore (MAS). Singapore dollar deposits at all three are insured by the Singapore Deposit Insurance Corporation (SDIC) for up to S$100,000 per depositor per Scheme member. Foreign currency deposits, structured deposits, and investment products are not covered under the SDIC scheme.
Which digital bank in Singapore has the highest interest rate in 2026?
GXS Bank currently offers the highest maximum bonus rate — up to 4.48% p.a. — but that rate requires meeting multiple conditions including FlexiDeposit, salary crediting, and Grab-specific transaction thresholds simultaneously. MariBank’s maximum rate is 2.88% p.a. (with Shopee VIP and salary crediting). Trust Bank reaches approximately 3.5% p.a. under qualifying conditions. What you will actually earn depends on which conditions you can realistically meet — not the headline figure.
Can I have accounts at all three digital banks at the same time?
Yes. There is no rule preventing you from holding accounts at MariBank, GXS, and Trust Bank simultaneously. Each account is free to open. Some people deliberately split savings across all three to maximise interest and stay below the S$100,000 deposit cap at each bank.
Do I still need a traditional bank if I use a digital bank?
For most everyday banking needs — transfers, bill payments, debit card transactions, interest on savings — a digital bank covers the basics and often offers better rates. Where traditional banks remain superior: branch-based services, complex loan applications (home loans, larger personal loans), wealth management, and situations where you need face-to-face assistance. The practical approach for most Singapore residents is a digital bank for savings and a traditional bank for primary transactional banking.
Which digital bank is best for salary crediting in Singapore?
MariBank’s Salary Switch promotion (running 17 Aug – 30 Sep 2026) pays S$50 cash for first-time salary crediting of at least S$500. The 0.20% p.a. Salary Crediting Bonus Interest is then ongoing. GXS also offers salary crediting bonuses but the conditions and amounts differ. Check the current promotions at each bank before deciding where to credit your salary — the offers change quarterly.
Final Verdict
None of the three digital banks is universally the best — they are each best for a specific user profile.
- MariBank: Best for Shopee-active users and anyone who values daily interest crediting. Use referral code 8ZUU96EA to collect up to S$15 on signup.
- GXS Bank: Best for Grab-heavy users chasing the highest available bonus interest rate.
- Trust Bank: Best for FairPrice-heavy households who want credit card and savings benefits that stack with their existing grocery spending.
If you are new to digital banking and do not know where to start, open a MariBank account first. The base interest rate applies with zero conditions, the daily crediting is transparent and satisfying to watch, and the account takes under 10 minutes to open. You can always add GXS or Trust later once you have a feel for what bonus conditions you can realistically sustain.
→ Open MariBank today — referral code 8ZUU96EA earns you up to S$15 cash
Which digital bank are you using as your primary savings account? Drop your actual interest rate in the comments — useful to see what people are realistically earning vs the headline figures.
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