Trust Savings Account Review: Interest rates, plans and features

🧧 Stand a chance to win

Trust Bank¹ is a popular digital bank in Singapore, brought to you by a partnership between Standard Chartered and FairPrice Group. Trust offers some great ways to manage your money with just your phone - including the Trust Bank savings account², which has high interest options and a linked card for easy access.

Not sure if it’s right for you? This Trust Bank savings account review covers all you need to know. We'll also introduce the Wise account, a handy companion to make your money go further with low, transparent fees.

What is the Trust Bank Savings Account?

The Trust Bank Savings Account is one of the core products offered by Trust, allowing you to save in an easy access account which has a linked debit card for spending and withdrawals. You can get the account in 3 different tiered plans, which all offer their own interest-earning opportunities:

• Zen Plan - flat rate account with no fuss
• Signature Plan - bonus interest opportunities depending on how you transact
• Flex Plan - build your own suite of features to earn maximum interest monthly

All of these accounts offer easy ways to manage your money through the Trust app, which is simple to use and has high-level security to keep your money safe. Keep reading for your full Trust Bank Singapore review, including a closer look at the savings interest rates, account features and benefits.

What are the Trust Bank Savings Account interest rates?

The Trust Bank Savings Account interest rates which apply to your account depend on the account plan you select, and also how you transact during the month. When you open your account, you’re assigned the Signature Plan, but you can change to one of the other plans at any time in the Trust app.

There are no ongoing fees for any of the account plans - the only real difference is how the Trust Bank Savings Account interest rates are calculated and applied:

*Details correct at time of research - 3rd December 2025
**NTUC Union Members get 0.30% p.a. while others get 0.20% p.a.

All account tiers have a maximum balance of 1.2 million SGD to earn the top rates available. Interest on amounts above this is paid at 0.05% p.a. Your interest is credited to your account monthly.

Trust Bank Savings Account: Main features and benefits

The Trust Bank Savings Account is the core account product from Trust and offers a large suite of features and benefits, and very few fees. Here’s a summary of the important things to know.

Trust Bank Savings Account features and rewards

Open your Trust Bank Savings Account and get a linked debit card for easy spending. Your account has no lock-in period, so you can add money when you choose to, and then spend or make cash withdrawals as you need. Any balance in your account is eligible for the interest tier based on your account plan and the way you choose to transact.

There’s also a great reward-earning opportunity with your Trust Bank debit card. When you spend, you can earn Linkpoints, which you can redeem against spending in Fairprice Group stores and partner merchants. The earning opportunity depends on whether or not you’re an NTUC member, with members rewarded up to 9% and non-members getting up to 4%. Eligibility rules, including minimum spend on different categories, apply.

Before you sign up for the Trust Bank Savings Account, it’s important to also consider the drawbacks. One issue for some customers is that you can’t send a payment overseas with Trust Bank. This can be a problem if you need to pay overseas bills or send money to family abroad. We’ll look at how the Wise Account could help here in just a moment.

Trust Bank Savings Account fees

*Details correct at time of writing - 3rd December 2025

Trust Bank Savings Account pros and cons

Still not sure if the Trust Bank Savings Account is for you? Here are a few key pros and cons to consider:

💡 Thinking about how Trust compares with other digital banks?
See our full guide on how GXS compares with Trust Bank to understand the differences in features, interest rates, and fees.

How to open a Trust Bank savings account

You can open a Trust Bank savings account by downloading the Trust app and using your Singpass and Myinfo to complete most of the required details:

1. Download the Trust app.
2. Select the option to sign up for a new account.
3. Follow the prompts to complete the application with Myinfo.
4. If requested, upload an image of your passport (foreign residents).

Once your account is verified, you can add money and transact. This can be quick or instant, or may take a few days.

Requirements for opening a Trust Bank savings account

You can open a Trust Bank savings account as long as you meet the eligibility criteria⁴:

• You must be 16 or older
• You must be a Singapore citizen, PR or foreign legal resident with a work pass

How to top up your Trust Savings Account

You can deposit money into your Trust account using bank transfer (FAST) or PayNow. In both cases, you’ll initiate the payment digitally from your bank for a speedy transfer into your Trust account.

Is the Trust Savings Account safe?

It’s sensible to wonder if Trust Bank is safe - but you can rest assured it’s a licensed digital bank overseen by MAS. Your savings account deposits with Trust are insured by the Singapore Deposit Insurance Corporation up to 100,000 SGD per depositor.

Need to spend, send, or hold money beyond SGD? Use Wise for international money management

The Trust Savings Account is designed for saving and spending in SGD, but it doesn’t support holding foreign currencies or sending money overseas. If you regularly deal with international payments, you may want an additional option.

The Wise account is an easy way to hold and exchange 40+ currencies, including SGD, MYR, EUR, CNY, and more. All you need to do is create a free account to get started.

With Wise, you can exchange currencies at the mid-market rate each time, with low, transparent conversion fees from 0.26% and absolutely no markups. Plus, you can order a linked Wise card for convenient spending without any foreign transaction fees, and up to 2 free ATM withdrawals to the value of 350 SGD when you're overseas. You'll even get 8+ local account details to get paid conveniently to your Wise account in SGD and a selection of other major global currencies.

What's more, you can activate Wise Interest to earn returns* on your eligible balances while keeping your money available to spend.

*Growth is not guaranteed. Capital at risk.

Sending money or making payments abroad? Wise also offers fast, low cost transfers to 140+ countries - you can track your transfer in your account and your recipient will also be notified when a transfer reaches them.

🚀 Get Started with Wise

Summary: Who is the Trust Savings Account best for?

The Trust Savings Account is a good option for anyone in Singapore looking for a local savings product they can manage with just a phone. As Trust is a digital bank you can’t pay in cash or walk into a branch to get face to face service - but you can earn decent interest if you have a higher tier account and complete specified transaction types monthly to unlock bonus interest.

Bear in mind that Trust doesn’t offer all the services you may get from a bank with a physical network - and you can’t send money overseas with Trust either. If you need to make a payment in a foreign currency, receive foreign currencies, or hold a balance in foreign currencies, the Wise Account could be a good addition to your toolbox alongside Trust for local spending.

Sources:

1. Trust Bank
2. Trust Bank savings account
3. Trust Plus
4. Trust FAQ