facebookTrust Bank Savings Account Reviews and Comparison - Seedly

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Savings Accounts/Trust Bank Savings Account
Savings Accounts/Trust Bank Savings Account
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Summary

Trust Bank Savings Account

Account Features & Details

1) Key Features

  • Base interest rate of 1.50% p.a for deposits up to S$75,000 and interest rate of 1.0% p.a for deposits above S$75,000
  • Earn bonus interest rate 0.5% p.a when you make 5 purchases on your Trust Card in the same month on deposits up to S$75,000. NTUC Union Members will be awarded a bonus of 1.0% p.a
  • Earn up to 11% savings when you spend on groceries at FairPrice Group on your Trust Card
  • Ditigal Trust cards that enables you to switch between credit or debit cards. Access card conveniently on the Trust app anytime
  • Access to 24/7 Customer Care assistance 
  • No minimum average daily balance and zero fees 
NTUC Link Card (For NTUC Union Members)
  • Trust Credit Card: Up to 21% savings when you spend at least S$350 monthly outside FairPrice Group
  • Trust Debit Card: Up to 11% savings when you spend at least S$200 monthly outside FairPrice Group 
Trust Link Card (Non-NTUC Union Members) 
  • Trust Credit Card: Up to 15% savings when you spend at least S$450 monthly outside FairPrice Group
  • Trust Link Debit Card: Up to 5% savings when you spend at least S$200 monthly outside FairPrice Group

2) Interest Rate

  • Base interest rate: 1.5% p.a (for balances up to S$75,000); 0.05% p.a (for balances above S$75,000)
  • Max interest rate: 2.5% p.a

3) Eligibility

  • Age: 18 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?
Supporting documents
How to apply?
Supporting documents
  • Singaporeans and PRs
    - Mobile phone
    - MyInfo via SingPass
  • Foreigners
    - Upload or take a photo of your passport

...see more

Popular Products

Plans (2)

Savings Account by Trust (For NTUC Union Members)

Up to 2.5%

INTEREST RATES

$0

MIN. INITIAL DEPOSIT

$0

MIN. AVG DAILY BALANCE

Savings Account by Trust (For Non NTUC Union Members)

Up to 2.0%

INTEREST RATES

$0

MIN. INITIAL DEPOSIT

$0

MIN. AVG DAILY BALANCE

Savings Account by Trust (For NTUC Union Members)

Up to 2.5%

INTEREST RATES

$0

MIN. INITIAL DEPOSIT

$0

MIN. AVG DAILY BALANCE

Reviews (7)

4.4

7 Reviews

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      Posted 11h ago

      Purchased

      Savings Account by Trust (For Non NTUC Union Members)

      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 6d ago

      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 9d ago

      Purchased

      Savings Account by Trust (For Non NTUC Union Members)

      [Fuss Free] Easy signup with good benefits [Interest] Quite good interest rate with no min spend [Application Process] Easy application process via singpass

      0

      What are your thoughts?

      Posted 04 Jan 2023

      Purchased

      Savings Account by Trust (For NTUC Union Members)

      [Interest] The product advertises that 2.5%pa interest will be paid for union members with simplicity and transparency. However, seems that the actual interest rate is effectively lower. This is because the bonus interest rate of 1% on top of the base 1.5% is only paid after the 5 transactions are posted for that month. So if you make 5 transcations on the first day and they are posted say 3-4 days later, you will be paid 2.5% interest for 25 days. Their faqs also don't seem to illustrate this properly. Quote for their faq below: "How much interest will I earn on my Savings Account by Trust? For example, if you maintain a deposit balance of SGD 80,000 daily and have completed 5 eligible card transactions on 5 December, your interest earned for the month of December is:​ Union Member: First $75K: Base: $75,000 x 1.5% x 31/365 = $95.55​ Bonus: $75,000 x 1% x 31/365 = $63.70" The above section is incorrect based on my own tracking. I was only paid bonus interest after the five transcations. So the bonus interest should be $75,000 x 1% x 26/365.

      0

      What are your thoughts?

      Posted 02 Jan 2023

      Purchased

      Savings Account by Trust (For NTUC Union Members)

      Best feature: ease of application with no minimum fee deposit. Able to link up with NTUC linkpoints easily too. Recommend for people who shops often at NTUC. Con: 1) not suitable for people who are not so tech savvy and requires to withdraw physical cash.

      0

      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

      What are your thoughts?

      Posted 22 Nov 2022

      Purchased

      Savings Account by Trust (For NTUC Union Members)

      [Fuss Free] - Transparent and easy to apply and see. [Customer Service] - Didn't really try but all information was gotten quite easily. [Interest] - I would think the highest in the market now.

      0

      What are your thoughts?

    Discussions (0)

      No Posts Found.

      Popular Products

      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.

      On top of the 1% p.a. interest* for deposits up to S$50K, you can easily earn bonus interests simply by making 5 Trust card transactions (yes can be your Credit Card too!)

      Aside from that, as an NTUC Union Member, you can get up to 11% savings in Linkpoints!

      For everyone else, you can get up to 5% savings in Linkpoints which you can use to redeem at FairPrice Group entities!*

      *Insured up to S$75K by SDIC.

      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

      +65 313 TRUST (+65 313 87878)

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