9 best business savings accounts in Singapore (2026): Rates & fees compared
Cherie Foo
Growth Content Manager
Key takeaways:
Business savings products in Singapore vary widely, from traditional fixed deposits with fixed terms and minimum placements to flexible cash-management products with no lock-in period.
The right option depends on how you plan to use your surplus cash: fixed deposits offer a set term and stated interest rate, while flexible accounts and investment products give you easier access to your funds, with returns that may vary.
Airwallex Yield lets you invest your SGD and USD balances with no minimum investment amount or lock-in period.
Finding the best business savings account in Singapore depends on what you need from your surplus cash.
Some accounts offer fixed returns but require you to lock your money away, while others give you easier access to your funds but may offer variable returns.
This guide compares nine business savings accounts and cash-management options available in Singapore, looking at minimum deposits, balance requirements, lock-in periods, and current SGD rates.
We’ll also look at how each option works so you can see which type fits your business's cash needs.
What is a business savings account?
A business savings account is a deposit account designed to hold surplus funds and earn interest, separate from the operating account your business uses for day-to-day transactions.
While your main business account handles frequent inflows and outflows such as payroll, supplier payments, and card transactions, a savings account is built to park cash you don't need immediately.
In Singapore, business savings accounts and personal savings accounts operate under different terms.
Business accounts typically come with higher minimum deposit requirements, fewer promotional rate incentives, and features oriented around cash flow management rather than personal finance goals.
What to look for in a business savings account in Singapore
Not all business savings accounts are built the same. Before comparing rates, it's worth getting clear on what actually matters for your business's cash management needs.
Interest rates and yield
The headline rate is the obvious starting point, but look closely at the conditions attached to it. Some accounts only offer their best rate at high balance tiers, while others pay a flat rate regardless of balance.
If the provider invests your funds in a money market fund rather than holding them as a deposit, the rate will also fluctuate, so factor in whether you need a guaranteed rate or can accept some variability.
Minimum initial deposit, balance requirements and fees
Several traditional bank products in Singapore require a substantial minimum initial deposit just to open. If your business doesn't consistently hold those balances, you may also face fall-below fees that eat into your returns.
Beyond that, check for early withdrawal fees, monthly maintenance fees, and early closure fees.
Looking for a savings option with no minimum deposit? Airwallex Yield has no minimum investment amount or lock-in period, so you can put surplus cash to work without committing to a large initial placement.
Lock-in periods and liquidity
Fixed deposits and time deposits offer predictability, but they tie up your cash. Most traditional bank products in Singapore lock funds in for anywhere from one week to 36 months, with penalties for early withdrawal.
If your business has variable cash flow, such as seasonal revenue, irregular large expenses, or growth-stage unpredictability, a lock-in period can create real operational risk.
Flexible accounts and money market-based solutions let you access funds more readily, though some still require a notice period of days or weeks.
SDIC coverage
The Singapore Deposit Insurance Corporation (SDIC) insures deposits up to S$100,000 per depositor per Deposit Insurance Scheme member institution1.
This applies to savings accounts and fixed deposits held at MAS-licensed banks and finance companies, but not to money market funds or investment products, which carry their own risk profile.
Returns on foreign currency balances
If your business handles foreign currency (for example, paying overseas suppliers or receiving revenue from overseas customers), check whether a provider lets you earn returns on those balances too, not just SGD.
9 best business savings accounts in Singapore
The options below cover the full range of what's available to businesses in Singapore, from traditional fixed deposits to flexible fintech alternatives.
Here’s a quick overview before we go into the details:
| Type | Min. initial deposit | Min. placement | Lock-in period | SGD rate (p.a.) |
|---|---|---|---|---|---|
Airwallex Yield | Fintech |
|
|
| Up to 1.19% |
DBS Business Fixed Deposit2 | Traditional bank | S$5,000 | S$5,000 | 1 week – 12 months | On request |
UOB FlexiYield Account3 | Traditional bank | S$50,000 / US$50,000 | S$8,000 / US$1,000 | None (31 days notice) | 0.10% |
OCBC SGD Time Deposit4 | Traditional bank | S$5,000 | Not stated | 1 – 12 months | 0.05%–0.50% |
Wise Interest5 | Fintech |
|
|
| 1.01% |
Aspire Yield6 | Fintech |
|
|
| 0.94% |
ANEXT Fixed Deposit7 | Digital bank | S$250,000 / US$5,000 | Not stated | 1 – 12 months | From 0.85% |
Syfe for Business8 | Digital wealth mgmt | S$100,000 |
| None (Flexi) / 1–12 months (Guaranteed) | 1.5% (Flexi) / 1.00–1.30% (Guaranteed) |
StashAway Corporate9 | Digital wealth mgmt |
|
| 1 month (Simple Fixed) / None (Simple) / 12 months+ (Simple Plus) | 1.05% (Simple Fixed) / 1.5% (Simple) / 2.7% YTM (Simple Plus) |
This information is based on publicly available information accessed on 23 Sep 2026. Information reflects Airwallex's own research and has not been independently verified.
All SGD rates shown are net of any applicable provider fees. For example, Aspire displays a 1.19% p.a. return before its 0.50% annual fee, so we've shown the net rate of 0.69% p.a. in the table.
1. Airwallex Yield
Airwallex Yield is a multi-currency investment service that lets Singapore businesses invest SGD and USD balances in money market funds.
Where it stands out against traditional bank products is in accessibility: there's no minimum investment amount, no minimum balance, and no lock-in period. Standard withdrawals generally settle within one business day, subject to cut-off times.
For businesses that want competitive returns without committing to a fixed term or meeting high balance thresholds, it removes the main trade-offs that come with time deposits.
Key features
Earn returns on SGD and USD balances: up to 1.19% SGD and up to 3.85% USD (Accelerate plan, rates accurate as of 23 Sep 2026)
Invest through money market funds managed by Fullerton Fund Management and Goldman Sachs Asset Management
No minimum investment account or lock-in period
2. DBS Business Fixed Deposit Account
The DBS Business Fixed Deposit Account is designed for businesses that have surplus cash they don't need immediately and want to lock it away for a fixed period in exchange for a predetermined interest rate.
Unlike a standard business savings or operating account, the funds are placed for a set tenure, while businesses can choose from 11 currencies including SGD, USD, EUR and GBP.
Businesses can view the latest available rates and place fixed deposits online through DBS IDEAL. Existing DBS business customers will still need to open a Fixed Deposit Account separately before making a placement.
Key features
Multi-currency fixed deposits in SGD, AUD, CAD, CHF, CNH, EUR, GBP, HKD, JPY, NZD and USD
Latest rates available when placing a deposit through DBS IDEAL
Tenures from 1 week to 12 months for online placements via DBS IDEAL
Minimum deposit of S$5,000 for SGD placements or 5,000 units of the respective foreign currency
Separate Fixed Deposit Account required, including for existing DBS business customers
Information in this section is based on DBS’s official website as of 23 Sep 2026.
3. UOB FlexiYield Account
The UOB FlexiYield Account is designed for businesses looking to earn returns on surplus funds without committing to a fixed maturity date. Unlike a traditional fixed deposit, there's no set end date, but you'll need to give 31 calendar days' notice before withdrawing funds.
The account has a relatively high entry requirement, with a minimum first placement of S$50,000 or US$50,000. It is available in SGD and USD, with interest rates varying by currency and balance tier.
Key features
No fixed maturity date; withdrawals require 31 calendar days' notice
Minimum first placement of S$50,000 or US$50,000
Minimum average balance of S$8,000 or US$1,000; fall-below fee applies
Early withdrawal penalty applies
Early closure fee applies
SGD deposits covered by SDIC, subject to the applicable limits and conditions
Information in this section is based on UOB’s official website as of 23 Sep 2026.
4. OCBC SGD Time Deposit
The OCBC SGD Time Deposit is a straightforward option for businesses that want to set aside surplus Singapore dollars for a fixed period. This product is specifically for SGD, with terms from 1 to 12 months and a minimum placement of S$5,000.
The account also offers automatic renewal at the prevailing rate when the deposit matures, so businesses can continue their placement without having to open a new time deposit each time. Early withdrawal is subject to fees.
Key features
SGD-only time deposit
Tenures from 1 to 12 months
Minimum deposit of S$5,000
Automatic renewal for the same period at the prevailing rate
Available for all businesses with SGD time deposit accounts
Early withdrawal fees apply
Information in this section is based on OCBC’s official website as of 23 Sep 2026.
5. Wise Interest
Wise Interest lets businesses earn variable returns on eligible balances while keeping the money accessible for spending and transfers.
Unlike a fixed deposit, there's no lock-in period: returns are applied every working day, and businesses can continue using their Wise Business account while their money is invested in an interest-earning fund.
It's available for SGD, USD, EUR and GBP balances in Singapore. Note that this isn't a bank deposit: the money is invested in funds, so returns aren't guaranteed and capital is at risk.
Key features
Earn variable returns on SGD, USD, EUR and GBP balances
No minimum deposit or lock-in period
Returns applied every working day
Continue to spend and send money while earning returns
Integrated directly into the Wise Business account
Funds invested in short-term money market instruments
Not covered by SDIC deposit insurance; capital is at risk
Information in this section is based on Wise’s official website as of 23 Sep 2026.
6. Aspire Yield
Aspire Yield lets businesses earn returns on surplus SGD and USD funds without locking the money away for a fixed term.
Unlike a traditional fixed deposit, the funds are invested in money market funds managed by Fullerton Fund Management and can be redeemed with next-business-day access. The Yield account is integrated directly into the Aspire Business Account, so businesses can move funds between their operating and Yield accounts without opening a separate account with another provider.
Note that this is an investment product rather than a bank deposit, so returns are not guaranteed and capital is at risk.
Key features
Returns on SGD and USD balances
Funds invested in Fullerton SGD Cash Fund Class A or Fullerton USD Cash Fund Class A
No minimum investment or lock-in period
Next-business-day access to funds for redemption requests made before the applicable cut-off time
Integrated directly with the Aspire Business Account
0.50% annual Aspire fee, charged based on the average daily NAV
Not an SDIC-insured deposit; capital is at risk
Information in this section is based on Aspire’s official website as of 23 Sep 2026.
7. ANEXT Fixed Deposit
ANEXT Fixed Deposit lets businesses lock surplus cash into a fixed-term deposit directly from their ANEXT Business Account.
Unlike traditional bank fixed deposits that may require a separate application, the ANEXT Fixed Deposit is built into the digital banking platform, with placements available in SGD, USD and EUR.
The product offers terms from 1 to 12 months and allows businesses to withdraw before maturity without an early termination fee. However, an early withdrawal means the funds earn the prevailing ANEXT Business Account interest rate instead of the fixed-deposit rate.
Key features
Fixed deposits available in SGD, USD and EUR
Placement terms of 1, 3, 6, 9 or 12 months
Minimum deposit of S$250,000, US$5,000 or €5,000
No early termination fee
Multiple fixed-deposit placements can be made under one Fixed Deposit Account
SGD deposits are not covered by SDIC
Information in this section is based on ANEXT’s official website as of 23 Sep 2026.
8. Syfe for Business
Syfe for Business is a cash-management platform that gives businesses two ways to put surplus cash to work: Cash+ Flexi, which has no fixed term and invests in money market funds and government bonds, and Cash+ Guaranteed, which places funds into fixed deposits with MAS-regulated banks for a selected term.
This gives businesses a choice between keeping their funds flexible or locking them in for a guaranteed return.
The main barrier is the S$100,000 minimum initial deposit for a Syfe business account. Syfe is also not a bank, so these products are investment portfolios rather than conventional bank deposits and are not covered by SDIC.
Key features
Cash+ Flexi: no fixed term, with T+1 access to funds
Cash+ Guaranteed: fixed terms from 1 to 12 months for SGD
Cash+ Guaranteed: 1-month term for USD under the current business offering
Minimum initial deposit of S$100,000
Cash+ Flexi invests in money market funds and government bonds
Cash+ Guaranteed invests in fixed deposits with MAS-regulated banks
Not SDIC-covered
Information in this section is based on Syfe’s official website as of 23 Sep 2026.
9. StashAway Corporate Account
StashAway's Corporate Account gives businesses access to cash-management portfolios designed for different liquidity and return needs.
Simple is designed for highly liquid cash, while Simple Plus invests in a broader range of fixed-income assets and is intended for businesses that can leave their money invested for longer. StashAway also offers USD Cash Yield for businesses looking to earn returns on USD balances.
Unlike a traditional savings or fixed-deposit account, these are investment portfolios rather than bank deposits. Returns are therefore not guaranteed, and the value of the underlying investments can fluctuate.
Key features
Simple: SGD cash management portfolio with high liquidity
Simple Plus: SGD cash management portfolio with a broader fixed-income portfolio
USD Cash Yield: cash management option for USD balances
No minimum deposit or minimum balance requirement
Simple offers access to funds without a recommended minimum holding period
Simple Plus is designed for longer holding periods
Not covered by SDIC deposit insurance
Information in this section is based on StashAway’s official website as of 23 Sep 2026.
Do I need a business savings account?
Not every business needs a dedicated savings account. In the early stages, most companies run everything through a standard business account: it's simple and does the job.
But as your cash reserves grow, leaving surplus funds in a zero-interest operating account means leaving money on the table.
If your business is sitting on cash earmarked for future expansion, a tax bill, or a slower season ahead, putting it in an interest-earning account is a straightforward way to generate returns while you wait.
If you do decide to use a business savings account, here are a few questions to help narrow down the right product.
How much surplus cash do you consistently hold?
If your balance fluctuates significantly month to month, a product with a high minimum balance or lock-in period may create more problems than it solves. Flexible options with no minimums are better suited to businesses with variable cash flow.
How quickly might you need access to the funds?
Fixed deposits offer higher predictability but tie up your cash. If there's any chance you'll need the funds at short notice, prioritise liquidity over rate.
Do you hold foreign currency balances?
If your business receives revenue in USD, EUR, or GBP, look for a provider that lets you earn returns on those balances too; otherwise you're leaving additional yield on the table.
Earn daily returns without the trade-offs
Many business savings products require a trade-off between flexibility and returns. Fixed-term products tie up your cash, while flexible cash-management solutions may require you to move your surplus cash to another platform and manage it separately.
In contrast, Airwallex Yield is designed to give businesses more flexibility. There’s no minimum investment amount or lock-in period, and Yield is integrated into the Airwallex WebApp.
Once you move funds into Yield, they can earn variable returns while you continue managing your payments, expenses and cards through Airwallex. You can invest both SGD and USD balances without opening an account with another provider.
Frequently asked questions (FAQs)
What is the difference between a business savings account and a fixed deposit?
A business savings account (or a flexible yield product) lets you deposit and withdraw funds freely while earning returns on your balance. A fixed deposit locks your money in for a set period, typically between one month and 36 months, in exchange for a guaranteed rate. The trade-off is straightforward: fixed deposits offer rate certainty but limit access to your cash, while flexible accounts offer liquidity but returns may fluctuate.
Are business savings accounts covered by SDIC in Singapore?
It depends on the product. Savings accounts and fixed deposits held at MAS-licensed banks and finance companies are covered by the Singapore Deposit Insurance Corporation (SDIC) up to S$100,000 per depositor per member institution. However, money market funds and investment products, including those offered by fintech platforms and digital wealth managers, are not SDIC-covered.
Is interest earned on a business savings account taxable in Singapore?
Generally, yes. Interest income earned by a company in Singapore is considered taxable income and should be declared in your corporate tax filing. However, tax treatment depends on your specific circumstances: for example, whether the account is held as part of your trade or business. We recommend consulting a qualified tax professional for advice specific to your situation.
What is a money market fund and is it safe?
A money market fund is a type of investment fund that holds short-term, high-quality assets such as treasury bills, certificates of deposit, and commercial paper. They are designed to preserve capital and provide liquidity while generating modest returns. Several products on this list, including Airwallex Yield, Aspire Yield, and Wise Interest, invest your funds in money market funds rather than holding them as bank deposits.
What is the difference between a business savings account and a personal savings account?
Business savings accounts (also known as corporate savings accounts) are designed for companies rather than individuals. They typically come with higher minimum deposit requirements, fewer promotional rate incentives, and features oriented around cash flow management. Personal savings accounts in Singapore often offer tiered bonus interest tied to salary crediting or card spend — conditions that don't apply to businesses.
How much money should a business keep in savings?
A common rule of thumb is to hold enough to cover three to six months of operating expenses as a cash reserve. Beyond that buffer, surplus funds are good candidates for a savings account or yield product. The right amount will vary depending on your business's cash flow predictability, upcoming capital commitments, and growth plans.
Sources:
https://www.sdic.org.sg/
https://www.dbs.com.sg/sme/day-to-day/accounts/fixed-deposit-account
https://www.uob.com.sg/business/accounts/uob-flexiyield-account.page
https://www.ocbc.com/business-banking/smes/accounts/singapore-dollar-time-deposit
https://wise.com/sg/business/interest
https://aspireapp.com/yield
https://anext.com.sg/bank/fixed-deposit/
https://www.syfe.com/syfe-for-business
https://www.stashaway.sg/corporate
This publication does not constitute legal, tax, or professional advice from Airwallex nor substitute seeking such advice, and makes no express or implied representations / warranties / guarantees regarding content accuracy, completeness, or currency. This publication is not intended to be relied on for the purpose of making a decision about a financial product and users should verify details independently. This advertisement has not been reviewed by MAS. It is for general information only.
All comparisons and information contained in this publication reflect only Airwallex’s own research using public documentation on the stated dates and have not been independently validated.
Product features, pricing and other details are subject to change. All third-party names, products, and logos are trademarks of their respective owners and are referred to for identification and compatibility purposes only. If you would like to request an update, feel free to contact us at [[email protected]].
Airwallex (Singapore) Pte. Ltd. (201626561Z) is licensed as a Major Payment Institution and regulated by the Monetary Authority of Singapore.
Cherie Foo
Growth Content Manager
Cherie is a Growth Content Manager at Airwallex, where she develops content for businesses in Singapore and across Southeast Asia. She focuses on turning complex topics like cross-border payments, business accounts, and spend management into clear, practical guides that help founders and finance teams make confident decisions.
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