Trust Bank is Singapore’s latest digital bank and new customers can enjoy sign-up gifts like FairPrice e-vouchers but the overly-complicated rewards scheme makes it a difficult card to stomach.

I have compared the differences between the UOB One Account (which current advertises up to 3.33% p.a. interest rates) and the OCBC 360 Account a couple of years ago. Even with the changes that the OCBC 360 has introduced over the years, it is still one of my preferred savings account in Singapore since I can achieve up to 1.85% p.a. of interest (you can earn up to 3.05% p.a. interest if you insure or invest with OCBC), up to S$70,000 fairly easily. The UOB One Account will be introducing some changes from 01 August 2018 and they are quite lucrative (especially if you already use a UOB One credit card which gives you cash rebates) but it may not necessarily be convincing enough for me to make the switch.

The OCBC 360 Account is one of my preferred saving accounts of choice since it gives up to 3.05% p.a. in bonus interest on up to S$70,000 of your account balance. It also gives an additional 1% p.a. on the first S$70,000 if your account balance is S$200,000 and above (but this is something you should ignore since there are better ways to invest your money). There is currently a promotion (which reminds me a little bit of the previous promotional mechanics) which offers an extra 1% p.a. interest on incremental balance based on the month on month average.

Following the rather controversial launch of the KrisFlyer UOB Savings Account back in April 2017, UOB has announced a brand new UOB Stash Account (essentially a savings account) which offers the opportunity to earn up to 1% p.a. interest. Account holders will essentially earn 0.05% p.a. interest on the whole account balance with the opportunity to earn a bonus interest (of up to 0.95% p.a.) if the Monthly Average Balance (MAB) is equal to or higher than the previous month.

Transferring money between friends and families (or even businesses) has just gotten easier with the introduction of a new PayNow service which is now live across all seven participating banks - Citibank, DBS Bank, HSBC, Maybank, OCBC Bank, Standard Chartered Bank and UOB Bank. All you need is the person's mobile number or NRIC number in order to make the transfer (limited to SGD transactions only).

The OCBC 360 Account was a game changer in Singapore - for most of us average Singaporeans, the account brought the pathetic 0.05% interest rates offered by most banks to something that was decent enough to make us switchover (even from Standard Chartered Bonus$aver). Once this has taken off, UOB quickly followed with the One Account (click HERE to find out whether the OCBC 360 or UOB One is better!) to steal some of the market share. A couple of days ago, Standard Chartered unveiled the brand new Bonus$aver Deposit Account that gives up to 3.88% interest p.a. on your first S$100,000 deposit balance (OCBC and UOB applies the bonus interest on the first S$60,000 and S$50,000 respectively only).

A Priority Banking Account is kind of like achieving elite status in a hotel chain's loyalty program - except instead of room nights, they measure your value to the organisation based on what you have at the bank (also known as Asset Under Management - AUM). Find out and compare the different Priority Banking accounts in Singapore and find one that suits you best!