Hi! What savings account will you recommend for someone with low liabilities (no bills to pay, insurance, loans, investments) and an average credit card spend to park their salary?

Here's what I suggest:

10k - Singlife (2%)

10k - Gigantiq (2% for 1 year)

10k - Dash EasyEarn (1.8% for 1 year)

20k - DBS Multiplier (0.9-1.1% depending on transacted amount)

If you are 26 years of age or lower, you can open a Jumpstart account with Standard Chartered which gives 1% p.a. interest on balances up to $20,000. This may be easier than having to use an account like DBS Multiplier and qualifying for the required categories to earn interest.

For DBS Multiplier, you should open an account together with a DBS credit card. With salary credit and credit card spend, you will be able to qualify for 2 categories and earn higher interest on balances up to $25,000. If you have a spouse, you can open a joint account (that is not Multiplier) and credit both of your salaries into it. The aggregate amount of salary deposited will count towards both of your Multiplier accounts. However do note that DBS does not offer the best earn rate for cashback or miles, but even a dollar will count towards qualifying for the credit card category.

I do not recommend OCBC 360 or UOB One for your case as their highest interest rates are on balances between $50,000 and $75,000. The effective interest rate on a balance of $50,000 would be 0.75% and 0.85% respectively, and you will need to fulfil things like card spend, salary credit, GIRO deductions or increases in your account balance monthly.

Another word of advice - don't sign up for new products unnecessarily in order to achieve higher interest rates for your bank account. Often, the costs outweigh the interest gained. Always pick products based on their own merits.

Maybe can consider dbs multiplier ? :) though u will need to hit another category (credit card or new investment under dbs) other than income ​​​