9 best business savings accounts in Singapore (2026): Rates & fees compared
Cherie Foo
Growth Content Manager
Key takeaways:
Business savings accounts in Singapore vary significantly in structure, from traditional fixed deposits that lock up your funds for up to 12 months, to flexible fintech alternatives that let you earn daily returns with no minimum deposit.
The best option depends on your priorities: fixed deposits offer predictable returns, while flexible accounts and investment platforms offer liquidity without sacrificing yield.
With Airwallex Yield, you earn daily returns on SGD and USD with no minimum deposits and no fixed terms.
When your business builds up surplus cash, leaving it in a zero-interest operating account means leaving money on the table. A business savings account can put that idle cash to work while keeping it accessible when you need it.
In Singapore, businesses have more options than ever. Traditional banks like DBS, UOB, and OCBC offer fixed deposits and time deposits with predictable returns, though often with minimum deposits and lock-in periods.
Fintech platforms and digital wealth managers like Aspire, Syfe, and StashAway have expanded the market with more flexible, lower-barrier products. And solutions like Airwallex Yield sit in a different category altogether, offering daily returns on SGD and USD balances with no minimums and no lock-in, directly within a business account.
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: UOB FlexiYield, for example, only unlocks competitive USD rates at balances above US$100,000.
Others pay a flat rate regardless of balance, which is more predictable for smaller businesses. 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 deposit, balance requirements and fees
Several traditional bank products in Singapore require a substantial minimum deposit just to open: S$5,000 for DBS and OCBC time deposits, S$50,000 for UOB FlexiYield, and as high as S$250,000 for ANEXT's SGD fixed deposit.
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.
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.
If capital protection is a priority for your business, confirm whether the product you're considering is SDIC-covered or not.
Returns on foreign currency balances
If your business handles foreign currency — paying overseas suppliers or receiving revenue in USD, EUR, or GBP — check whether a provider lets you earn returns on those balances too, not just SGD.
Top 9 business savings accounts in Singapore
Whether you're looking to grow a cash reserve, manage treasury across currencies, or simply avoid leaving idle funds in a zero-interest account, 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. balance | Lock-in period | SGD rate (p.a.) | USD rate (p.a.) | Instant withdrawals | Other currencies |
|---|---|---|---|---|---|---|---|---|
Airwallex Yield | Fintech |
|
|
| Up to 1.05% | Up to 3.74% |
| — |
DBS Business Fixed Deposit2 | Traditional bank | S$5,000 | S$5,000 | 1 week – 12 months | On request | On request |
| AUD, CAD, CHF, CNH, EUR, GBP, HKD, JPY, NZD |
UOB FlexiYield Account3 | Traditional bank | S$50,000 / US$50,000 | S$8,000 / US$1,000 | None (31 days notice) | 0.10% | 0.10%–3.75% (tiered) |
| — |
OCBC SGD Time Deposit4 | Traditional bank | S$5,000 | S$5,000 | 1 – 12 months | 0.05%–0.50% | — |
| — |
Wise Interest5 | Fintech |
|
|
| 1.13% | 3.42% |
| EUR, GBP |
Aspire Yield6 | Fintech |
|
|
| ~0.74% | ~3.18% |
| — |
ANEXT Fixed Deposit7 | Digital bank | S$250,000 / US$5,000 | S$250,000 / US$5,000 | 1 – 36 months | From 0.85% | From 2.50% |
| EUR |
Syfe for Business8 | Digital wealth mgmt | S$100,000 |
| None (Flexi) / 1–12 months (Guaranteed) | 1.7% (Flexi) / 1.00–1.30% (Guaranteed) | 3.8% (Flexi) / 3.65% (Guaranteed, 1-month) |
| — |
StashAway Corporate9 | Digital wealth mgmt |
|
| None (Simple) / Not recommended <12 months (Simple Plus) | From 1.25% | From 3.7% |
| — |
The information in this table has been reviewed to be accurate as of 12 March 2026. Wise Interest rates are after their annual fee of 0.68% (SGD) and 0.44% (USD/EUR/GBP). Aspire Yield rates are after their annual fee of 0.50% (SGD and USD) and are approximate. All other rates are deposit or investment product returns with no separate platform fee.
1. Airwallex Yield
Airwallex Yield is a multi-currency investment solution that places your funds into low-risk money market funds (Goldman Sachs Asset Management for USD, Fullerton Fund Management for SGD) to generate daily returns. Because it sits directly within the Airwallex Business Account, there's no separate application or manual transfer required to put your idle cash to work.
Where it stands out against traditional bank products is in accessibility: there's no minimum deposit, no minimum balance, and no lock-in period. Funds can be withdrawn within one business day. 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
Daily returns on SGD and USD balances: up to 1.05% SGD and up to 3.74% USD (Accelerate plan)
Funds invested in low-risk money market funds: Goldman Sachs (USD) and Fullerton Fund Management (SGD)
Integrated within the Airwallex Business Account, no separate application required
No minimum deposit, no minimum balance, no lock-in period
2. DBS Business Fixed Deposit Account
The DBS Business Fixed Deposit Account lets businesses earn interest on surplus funds across multiple currencies for a set period. Rates are not published online, so you’ll have to request for a quote either through a relationship manager or via the DBS IDEAL online banking platform.
One thing to note is that even if you already have a DBS Business Account, you'll need to apply for the Fixed Deposit account separately.
Key features
Multi-currency fixed deposit available in SGD, AUD, CAD, CHF, CNH, EUR, GBP, HKD, JPY, NZD, and USD
Interest rates quoted on request via relationship manager or DBS IDEAL
Choice of deposit terms from 1 week to 12 months
S$5,000 minimum initial deposit (or foreign currency equivalent)
Separate account application required even for existing DBS business customers
SDIC-covered for SGD deposits
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 high barrier to entry: a minimum initial deposit of S$50,000 or US$50,000 is required to open. SGD rates are modest at 0.10% across all balances. USD rates are tiered and only become competitive at much higher balance levels.
Key features
No fixed maturity date; withdraw funds with 31 calendar days' notice
Minimum initial deposit of S$50,000 or US$50,000
SGD rate: 0.10% across all balances
USD rate: tiered from 0.10% (below US$100,000) up to 3.75% (US$10,000,000+)
Minimum average balance of S$8,000 or US$1,000; fall-below fee applies
Early withdrawal penalty and early closure fee apply
SDIC-covered for SGD deposits
4. OCBC SGD Time Deposit
The OCBC SGD Time Deposit is a straightforward fixed deposit product for businesses looking to park SGD funds for a set period. However, the published rates are low, ranging from just 0.05% to 0.50% depending on tenure and balance tier. Funds are locked in for the chosen term, and early withdrawal incurs penalties and loss of interest.
Note that this is a SGD-only product. If you need to earn returns on foreign currency balances, you'll need a separate product.
Key features
SGD only; lock-in period of 1–12 months
Rates from 0.05% to 0.50% depending on tenure and balance tier
S$5,000 minimum initial deposit
Early withdrawal incurs penalties and loss of interest
Separate application required even for existing OCBC business customers
SDIC-covered
5. Wise Interest
Wise Interest lets businesses earn returns on balances in four currencies — SGD, USD, EUR, and GBP — directly within the Wise Business Account. There's no separate application, no minimum deposit, and no lock-in period. If your business holds EUR or GBP balances, Wise is one of the few options on this list that lets you earn returns on those too.
That said, Wise is not a full business account. To use Wise Interest, you'd need to transfer funds from your main business account, which adds a step every time you want to put cash to work or access it.
Key features
Returns on SGD (1.13%), USD (3.42%), EUR (1.74%), and GBP (3.48%)
No minimum deposit, minimum balance, or lock-in period
Integrated within the Wise Business Account — no separate application required
Not SDIC-covered
6. Aspire Yield
Aspire Yield allows businesses to earn returns on SGD and USD balances, with funds invested in low-risk money market funds managed by Fullerton Fund Management. Like Wise, it's integrated directly into the Aspire Business Account with no minimum deposit or lock-in period, and funds are accessible the next business day.
The main drawback is similar to Wise: if you don't already use Aspire as your primary business account, you'll need to transfer funds in from elsewhere to use Yield, adding operational friction.
Key features
Returns on SGD (~0.74%) and USD (~3.18%) — after Aspire's 0.50% annual fee
Funds invested in Fullerton Fund Management money market funds
No minimum deposit, minimum balance, or lock-in period
Integrated within the Aspire Business Account — no separate application required
Not SDIC-covered
7. ANEXT Fixed Deposit
ANEXT is a digital bank licensed by MAS, and its Fixed Deposit product is available directly from the ANEXT Business Account without a separate application. However, it carries the usual constraints of a fixed deposit: funds are locked in for the chosen term, and higher returns require significantly larger deposits.
At S$250,000 minimum for SGD, the barrier to entry is prohibitively high for most SMEs. This product is only realistic for businesses with large, predictable cash surpluses they can afford to lock away.
Key features
Fixed deposit available in SGD, USD, and EUR
Lock-in period of 1–36 months
SGD rates from 0.85%, USD rates from 2.50%
High minimum deposit: S$250,000 (SGD) or US$5,000 (USD)
Accessible directly from the ANEXT Business Account
SDIC-covered for SGD deposits
8. Syfe for Business
Syfe for Business is a wealth management platform offering two types of cash management solutions: Cash+ Flexi, which has no fixed term and offers projected returns, and Cash+ Guaranteed, which locks funds in for 1–12 months (SGD) or 1 month (USD) in exchange for guaranteed returns.
The main barrier is the S$100,000 minimum initial deposit, which puts it out of reach for smaller businesses.
Key features
Cash+ Flexi: no lock-in, projected returns of 1.7% (SGD) and 3.8% (USD)
Cash+ Guaranteed: guaranteed returns of 1.00–1.30% (SGD, 1–12 months) and 3.65% (USD, 1 month)
S$100,000 minimum initial deposit required
No minimum balance requirement after initial deposit
T+1 withdrawals for Cash+ Flexi
Not SDIC-covered
9. StashAway Corporate Account
StashAway is a wealth management platform, and its Corporate Account gives businesses access to two SGD cash management solutions — Simple and Simple Plus — as well as a USD Cash Yield portfolio. Simple offers higher liquidity with no recommended minimum holding period, while Simple Plus targets higher returns but is not recommended for holding periods under 12 months.
There's no minimum deposit requirement, but the trade-off is that Simple Plus carries slightly more risk than a typical money market fund, as it invests in a broader range of fixed income assets.
Key features
Simple: from 1.25% SGD, fully liquid
Simple Plus: higher projected returns, not recommended for holding periods under 12 months
USD Cash Yield: from 3.7% USD
No minimum deposit or minimum balance
Not SDIC-covered
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
Most of the options on this list require a trade-off: competitive returns come with lock-in periods or high minimum deposits, while flexible products often mean managing a separate platform on top of your existing business account.
Airwallex Yield is built for businesses that want to avoid both trade-offs. There's no minimum deposit, no lock-in period, and Yield sits directly within the Airwallex Business Account. That means your idle cash earns daily returns in the same platform you use for payments, FX, Expense Management, and Corporate Cards.
For businesses operating across borders, you can earn competitive returns on both SGD and USD balances without opening additional accounts.
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://www.ocbc.com/business-banking/sgd-fixed-deposit-interest-rates
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 does it substitute seeking such advice, and makes no express or implied representations / warranties / guarantees regarding content accuracy, completeness, or currency. 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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