At a glance: digital bank landscape in Singapore
Singapore’s digital banking scene has evolved rapidly, with incumbent banks (DBS digibank, OCBC Frank, UOB Mighty) competing alongside newer full digital banks (Trust Bank, GXS Bank, MariBank). Each offers distinct features: DBS digibank targets high earners with integrated investing, OCBC Frank focuses on youth, UOB Mighty rewards everyday spending, Trust Bank uses a partnership model for higher savings rates, GXS aims at gig workers with flexible loans, and MariBank (by Sea Group) ties into Shopee and Sea ecosystem. This comparison focuses on six leading options for working adults and young professionals managing personal finances in Singapore.
At a glance: key differences
| Bank | Base savings rate | Minimum deposit | Annual fee | Key integration |
|---|---|---|---|---|
| DBS digibank | 0.05% base; up to 4.1% with salary credit+spend | $0 | $0 | DBS Nav planner, robo-advisor |
| OCBC Frank | 0.05% base; up to 2.88% with min $500 spend | $0 | $0 | Frank credit card, OCBC Pay Anyone |
| UOB Mighty | 0.05% base; up to 3.0% with salary+spend | $0 | $0 | UOB One card, TMRW app |
| Trust Bank | 1.0% base; up to 3.0% with spend | $0 | $0 | FairPrice Group, Linkpoints |
| GXS Bank | 0.08% base; up to 2.68% on savings pockets | $0 | $0 | Grab, Singtel |
| MariBank | 2.5% base (promotional); variable after | $0 | $0 | Shopee, SeaMoney |
Feature-by-feature comparison
Pricing and fees
All six digital banks offer no minimum deposit and no annual fees for basic accounts. DBS digibank, OCBC Frank, and UOB Mighty are extensions of traditional banks, so they charge standard fees for services like cashier’s orders or overdrafts (varies by plan). Trust, GXS, and MariBank are pure digital banks with no physical branches, so they avoid most fees but may charge for expedited transfers or foreign currency conversions (varies by plan). Savings rates vary: DBS digibank’s multi-tier system (salary credit, credit card spend, investment) can reach up to 4.1% for high earners. OCBC Frank’s bonus rate (up to 2.88%) requires at least $500 monthly spend. UOB Mighty’s up to 3.0% needs salary credit and $500 spend. Trust Bank offers a competitive 1.0% base (no conditions) plus up to 2.0% bonus with FairPrice spend. GXS’s up to 2.68% applies to “savings pockets” (locked funds). MariBank’s 2.5% base is promotional and subject to change. All rates are subject to caps and terms.
Ease of use
DBS digibank app is feature-rich but can feel cluttered; it has a robust dashboard for spending tracking, investment, and insurance. OCBC Frank app is streamlined for younger users, with a clean interface and goal-setting tools. UOB Mighty app offers a simple overview but lacks advanced budgeting. Trust Bank app is intuitive, with quick account opening (via Singpass) and instant card issuance. GXS app is minimal, focusing on savings pockets and small loans. MariBank app integrates with Shopee for seamless payments but has fewer financial management tools. All apps support biometric login and contactless payments via Apple Pay/Google Pay (varies by bank).
Integrations
DBS digibank connects with DBS Nav Planner (robo-advisor), DBS Vickers (trading), and insurance products—best for all-in-one finance. OCBC Frank integrates with OCBC Pay Anyone and Frank credit card rewards. UOB Mighty links to UOB One card and TMRW (its regional digital bank). Trust Bank is deeply integrated with FairPrice Group (NTUC, Sheng Siong, etc.) and Linkpoints program, earning rewards on groceries. GXS is integrated with Grab and Singtel, offering cashback on rides and telco bills. MariBank is tied to Shopee, SeaMoney, and ShopeePay, ideal for e-commerce users. Integration depth varies; DBS offers the broadest ecosystem, while Trust and MariBank excel in specific merchant partnerships.
Customer support
DBS digibank provides 24/7 hotline, in-app chat, and branch support (for complex issues). OCBC Frank offers phone and email support with extended hours but no 24/7. UOB Mighty has 24/7 hotline and limited branch access. Trust Bank support is via in-app chat and email, with no phone support (response times vary). GXS offers in-app chat and email, with slower resolution for non-standard issues. MariBank provides in-app chat and email, with phone support only for premium tiers (varies by plan). Incumbent banks generally have faster support due to larger teams; pure digital banks rely on automated systems.
Best for
DBS digibank: best for high earners wanting integrated investing and credit card rewards. OCBC Frank: best for young professionals starting out, with simple savings and lifestyle rewards. UOB Mighty: best for users who already use UOB One card for cashback. Trust Bank: best for FairPrice shoppers and those wanting a no-conditions savings rate. GXS Bank: best for gig workers needing flexible loans and Grab/Singtel users. MariBank: best for Shopee frequent shoppers and Sea ecosystem users.
Verdict: which one for whom
For most working adults and young professionals in Singapore, the best digital bank depends on your spending habits and financial goals. If you earn above $5,000/month and can meet salary credit and spending criteria, DBS digibank offers the highest potential savings rate (up to 4.1%) and a comprehensive financial suite. For those who shop at FairPrice regularly, Trust Bank’s 1.0% base rate with no conditions is attractive, and bonus rates from grocery spend make it a strong contender. If you are a frequent Shopee user, MariBank’s promotional rate and seamless integration with ShopeePay provide convenience and decent returns. For users who want a simple, no-frills experience with flexible savings pockets, GXS Bank is a solid choice, especially if you use Grab. OCBC Frank and UOB Mighty are best for those who already have a relationship with OCBC or UOB and want a consistent rewards structure. None of these banks are bad options, but the optimal choice hinges on your primary spending category and whether you value ecosystem integration over pure rate. For a balanced approach, Trust Bank offers the best base rate with minimal effort, while DBS digibank rewards active financial management.