Trust Bank Savings Account
- Key Features
- Reviews (23)
- Discussions (0)
- More Details
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Summary
Trust Bank Savings Account Review 2024
Trust Bank is a digitally-native bank, backed by a unique partnership between Standard Chartered Bank and FairPrice Group. This partnership brings together a leading international bank and a social enterprise with more than 200 years of combined experience in Singapore.
Trust Bank Exclusive Promotion: Receive a scratch card with sure-win cashback of up to S$1,000 when you refer your friend to Trust. T&Cs apply.
1) Key Features
- Comes with a debit card that has no foreign transaction fees! Maintain a daily average balance of S$100k and qualify for Trust+ to unlock special privileges
- Enjoy a high interest rate of up to 3.5% p.a. on the first S$1 to S$800,000 deposit balance in your savings account.
- This is made up of base interest of 1.25% p.a (no conditions), spend bonus interest of 1% p.a. with 5 qualifying card transactions, Balance bonus interest of 0.5% p.a. with S$100K Average Daily Balance (ADB) for the month, and Salary bonus interest of 0.75% p.a. if you credit minimum salary of S$1,500 in a single transaction through GIRO within the month.
- Balances above S$ 800,000 will earn 0.05% p.a. interest
- Earn up to 11% savings when you spend on groceries at FairPrice Group on your Trust Card
2) Interest Rate
- Base interest rate: 1.25% p.a
- Max interest rate: 3.5% p.a
3) Eligibility
- Age: 16 years old and above
- Citizenship: Singaporeans, PRs, and Foreigners
4) Fees
- Minimum average daily balance: N.A
- Fall below fee: S$0
- Account closure: S$0
- Monthly account fee: S$0
5) Application Process
How to apply?
- Apply for Trust Bank Savings Account on Trust Bank’s website
Supporting documents
- Singaporeans and PRs
- Mobile phone
- MyInfo via SingPass - Foreigners
- Upload or take a photo of your passport
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Summary
Trust Bank Savings Account Review 2024
Trust Bank is a digitally-native bank, backed by a unique partnership between Standard Chartered Bank and FairPrice Group. This partnership brings together a leading international bank and a social enterprise with more than 200 years of combined experience in Singapore.
Trust Bank Exclusive Promotion: Receive a scratch card with sure-win cashback of up to S$1,000 when you refer your friend to Trust. T&Cs apply.
1) Key Features
- Comes with a debit card that has no foreign transaction fees! Maintain a daily average balance of S$100k and qualify for Trust+ to unlock special privileges
- Enjoy a high interest rate of up to 3.5% p.a. on the first S$1 to S$800,000 deposit balance in your savings account.
- This is made up of base interest of 1.25% p.a (no conditions), spend bonus interest of 1% p.a. with 5 qualifying card transactions, Balance bonus interest of 0.5% p.a. with S$100K Average Daily Balance (ADB) for the month, and Salary bonus interest of 0.75% p.a. if you credit minimum salary of S$1,500 in a single transaction through GIRO within the month.
- Balances above S$ 800,000 will earn 0.05% p.a. interest
- Earn up to 11% savings when you spend on groceries at FairPrice Group on your Trust Card
2) Interest Rate
- Base interest rate: 1.25% p.a
- Max interest rate: 3.5% p.a
3) Eligibility
- Age: 16 years old and above
- Citizenship: Singaporeans, PRs, and Foreigners
4) Fees
- Minimum average daily balance: N.A
- Fall below fee: S$0
- Account closure: S$0
- Monthly account fee: S$0
5) Application Process
How to apply?
- Apply for Trust Bank Savings Account on Trust Bank’s website
Supporting documents
- Singaporeans and PRs
- Mobile phone
- MyInfo via SingPass - Foreigners
- Upload or take a photo of your passport
Savings Account by Trust
Savings Account by Trust
Up to 3.5%
INTEREST RATES
$0
MIN. INITIAL DEPOSIT
$0
MIN. AVG DAILY BALANCE
3.7
23 Reviews
Service Rating
Customer Support
Ease of online banking
High to Low
Posted 05 Nov 2024
Purchased
Savings Account by Trust
[Fuss Free] - No fees - No lock-in period - No minimum average daily balance or fall-below fee - No requirement for salary crediting - No minimum spends or fees for Link Debit Card [Application Process] Easy and simple, took less than 10 minutes to apply via Singpass [Interest and Cashback] - Calculated and credited at the end of each month - Must jump through hoops for extra interest [Online Banking] - App is easy and straightforward to use - App has a 'Rewards' tab that offers multiple various coupons and stamp cards; concept is similar to DBS PayLah! [Overall] Recommended for anyone looking to open a digital bank account; as compared to other digital banks, must jump through hoops for extra interest.0
What are your thoughts?Posted 02 Aug 2024
Purchased
Savings Account by Trust (For NTUC Union Members)
Best interest rates. For Union members Base is 1.5%. make 5 transactions of $30 each, and get another 1%. Add on salary and get 0.75%. Refer your friend and get $10 for each referral. Your friend also gets $10 using referral code. Use my referral code to jumpstart your savings: 7Y4U6RR10
What are your thoughts?Posted 15 Mar 2024
Purchased
Savings Account by Trust
[Application Process] I just used my friend's referral code and got rewarded with a $10 voucher. The app is intuitive and easy to get the grasp of. [Interest] Easy to use the card five times a month to qualify for the higher 2.0% interest rate [Others] Love its referral program. I have gained $50 in NTUC vouchers as a result of my efforts to recruit newbies to Trust!0
What are your thoughts?Posted 30 Aug 2023
Purchased
Savings Account by Trust (For NTUC Union Members)
Between 1.5% to 2.5% interest earned on daily basis, on amounts up to 125k. It's tagged to credit/debit card transactions and NTUC link card, which can also introduce savings at Kopitiam.0
What are your thoughts?Posted 11 Jun 2023
Purchased
Savings Account by Trust (For NTUC Union Members)
easy to sign-up just download app then use Singpass. Interest rates considered not bad. their customer service was helpful when i called to enquire on their product. waiting time was short, call was answered within 1 minute. overall good👍. would recommend it..😊..0
What are your thoughts?Posted 27 Apr 2023
Purchased
Savings Account by Trust (For NTUC Union Members)
[Application Process] Seamless onboarding via SingPass [Fuss Free] Tracking of Link Points and bonus interest earned all within a couple of tabs on the app. Very good UX/UI! [Others] Particularly like the new update where spending for previous and current months get classified into cute icons with animation :D0
What are your thoughts?Posted 02 Feb 2023
Purchased
Savings Account by Trust
It took less than five minutes and no hassle to get my account set up and ready to go. Their app provides an intuitive user experience that is a delight to use. But it was extremely difficult to reach their customer support team.0
What are your thoughts?Posted 27 Jan 2023
Purchased
Savings Account by Trust (For NTUC Union Members)
[Fuss Free] Online application was done very quickly. Was quite surprised. [Interest] For NTUC members (silver card), there is basic interest of 1.5% for first 75k, with an additional 1.0% (if you spend 5 times using the card) . [Credit/ Debit Card Switching] The card itself can switch from debit to credit card in a button, pretty cool function! At first I was confused why the card kept deducting from my savings account, but I found out that the credit card function was not activated. You can use trust card on apple pay as well! You can use the app to purchase NTUC Income Travel insurance for additional 5% discount on top of whatever discounts you have, there are other rewards you can redeem too! This card is good for NTUC members and frequent NTUC shoppers with extra cash lying around and don't mind earning 2.5% interest, if that is you, refer below! On top of these, you still get the benefits of the NTUC member- such as UTAP, etc ! [Others] If you found this useful, you can use my referral code- NS7HKHQQ, and you will be rewarded with an additional $10 NTUC vouchers to spend more on snacks! Upon signing up and after first spend, you will also be rewarded with $25 to spend on even more snacks!0
What are your thoughts?Posted 24 Jan 2023
Purchased
Savings Account by Trust
[Fuss Free] Easy signup with good benefits [Interest] Quite good interest rate with no min spend [Application Process] Easy application process via singpass0
What are your thoughts?Posted 28 Nov 2022
Purchased
Savings Account by Trust (For NTUC Union Members)
[Fuss Free] Its very straight forward and transparent [Customer Service] I tried it once very responsive and polite customer service [Application Process] Very fast and the best thing about it is the vouchers dont have minimum spend ! Its a really enticing way to gain customers/ clients If anyone's interested to join you can use my referral code : EAU8Z9BX So you get $10 ntuc voucher. And whe you use the card (no minimum spent) you get additional $25 voucher from ntuc !0
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Savings Account by Trust Key Information
The most rewarding Savings Account (comes with a debit card!) for your everyday needs - designed for simplicity and transparency.
Maintain a daily average balance of S$100k and qualify for Trust+ to unlock special privileges
Open an account instantly and never miss out on bonus rewards again because the Trust App lets you know where you are against your reward targets in real-time.
Fund your savings account in 2 easy ways:
1. Register for PayNow and receive money directly into your savings account
2. Send money from another bank account using FAST into your savings account you have the freedom to select the preferred credit limit you want.
Savings Account by Trust
Minimum initial deposit: None
Minimum monthly balance: None
Account Closure Fee: None
Monthly Fee: None
Maximum deposit amount: N.A.
Ability to use FAST and Paynow: Yes
Ability to withdraw cash: Yes at one ATM located in Fairprice at Vivocity or any of the 19 Standard Chartered ATMs.
Link to Google Pay/Apple Pay: Yes
How to sign up for the Savings Account
Download the Trust App via App Store or Play Store to sign up for Savings Account by Trust
Contact Information
Get 24/7 help via in-app chat or call, OR Call us at +65 313-TRUST (+65 3138 7878).
You can also come say hello to our friendly customer support team at Trust Experience Centre located at FairPrice Xtra VivoCity, #B2-23 from 11.00am to 7.00pm daily.
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