Best Joint Savings Accounts in Singapore 2025

In 2025, joint savings accounts in Singapore remain one of the most practical solutions for couples, families, and business partners to manage money together.

They streamline financial planning, budgeting, and saving strategies into one shared platform.

In this guide, we review 14 of the best joint bank accounts in Singapore, explain how they work, and highlight their pros and cons.

By the end, you’ll know which joint savings account Singapore offers is best suited to your needs.

{{cta-component}}

What Are Joint Accounts?

Joint accounts in Singapore function as a shared financial platform, enabling multiple individuals to deposit, withdraw, and manage funds collectively.

They are not just a means to pool resources but also a symbol of trust and shared responsibility among those who open them.

Typically utilised by couples, family members, or business partners, joint accounts serve a variety of purposes, from simplifying household expenses to planning for future investments.

Joint Account Types in Singapore

In Singapore, joint savings accounts are usually set up in two main ways:

• Joint-Alternate (“Either to Sign”) - Any one account holder can operate the account independently. This setup is common among couples or families who have a high level of trust, as it allows either party to make deposits, withdrawals, and payments without needing the other’s signature.
• Joint-All (“Both to Sign”) - All account holders must agree and provide their signatures for any transaction to be valid. This type is more common with business partners or in situations where strict shared control is necessary to avoid unilateral decisions.

Choosing between these two types depends on the level of independence and trust you want to maintain when managing shared finances.

How They Work

Joint accounts in Singapore operate on the principle of shared ownership, where all account holders have equal rights and responsibilities.

This makes them especially useful for managing shared expenses like household bills, mortgages, or education savings.

Here are the key features and operations offered:

^{*A mandate refers to the set of rules or instructions that govern how transactions are to be authorised and executed within the account. It essentially outlines who has the authority to operate the account and under what conditions.}

14 Best Joint Bank Accounts in Singapore 2025

In this section, we delve into the 14 best joint savings accounts offered by leading banks in Singapore.

The author of this article, Oleg Kryukovskiy, selected them based on their interest rates, minimum deposit requirements, accessibility, and other value-added features that make them stand out in the competitive banking landscape.

Let us explore each of these bank offerings in detail to help you make an informed choice for your joint financial accounts.

DBS/POSB Joint Accounts  

In 2025, DBS/POSB remains the most accessible choice thanks to its extensive ATM and branch network. Accounts like My Account and eMySavings suit everyday savers, while POSB SAYE offers a fixed 3.50% p.a. for consistent saving habits.

OCBC Joint Accounts  

In 2025, OCBC continues to stand out with accounts like 360 and FRANK. The 360 account rewards salary crediting and bill payments with higher rates, while FRANK caters to younger savers with lifestyle-friendly features.

UOB Joint Accounts  

UOB’s joint accounts in 2025 cater to different needs: the One Account offers competitive interest with credit card usage, while KrisFlyer UOB appeals to frequent travelers. Stash and Uniplus remain simple, low-yield options for those who prefer basic banking.

Standard Chartered Bank Joint Accounts  

In 2025, Standard Chartered’s Bonus$aver remains one of the highest-yielding options (up to 8.05% p.a.) for customers meeting spending and deposit criteria, while e$aver provides straightforward, no-frills online savings.

Maybank Joint Accounts 

Maybank’s iSAVvy Savings Plus continues to be a reliable mid-range option in 2025, offering up to 3.33% p.a. with incremental savings bonuses — attractive for couples steadily growing their funds.

Bank of China (BOC) SmartSaver Account 

BOC’s SmartSaver remains a top choice in 2025 for high-yield seekers, offering up to 5.35% p.a. on the first S$100,000 when criteria like salary crediting and card spending are met.

Citibank Joint Accounts

Citibank joined the competition with its Citi Wealth First account, offering some of the highest yields in 2025 for customers maintaining a wealth relationship and meeting activity criteria.

Comparison of 14 Best Joint Savings Accounts in Singapore 2025

Each comes with its own set of features, interest rates, and requirements, which can significantly impact your financial management and savings growth.

To aid in this comparison, we have compiled a table that outlines key details of some of the top joint savings accounts offered by major banks in Singapore.

This table will provide a clear overview, helping you to evaluate and choose an account that best suits your joint financial needs.

How to Choose a Joint Account?

Selecting the best joint account in Singapore requires careful consideration of several key factors. These factors should align with your financial objectives and lifestyle preferences.

Interest Rates

Look out for accounts with competitive interest rates as they can significantly enhance the growth of your savings over time. Higher interest rates mean more earnings on your deposited funds, which is crucial for long-term financial planning.

If high income is a priority for you - consider alternative investments with Kilde. You will read more details about alternative investing with Kilde later in this article.

{{cta-component}}

Fees

Be aware of any monthly maintenance fees, transaction fees, or penalties for not maintaining a minimum balance. These fees can eat into your savings if not managed properly.

Accessibility

Consider how easily you can access the account. Look for features like online banking, mobile apps, and a wide network of ATMs. Easy access is crucial for managing your joint finances efficiently.

Additional Benefits

Some offer extra perks like cashback, rewards points, or discounts on other financial products. If these benefits align with your spending habits, they can add substantial value.

Financial Goals and Lifestyle Needs

Your choice should reflect your joint financial goals, whether it is saving for a home, planning a vacation, or simply managing household expenses.

Couples may prefer flexible accounts with higher daily usability, families might look for simple budgeting tools, while business partners may benefit from Both-to-Sign mandates for accountability.

How to Open a Joint Account?

Opening a joint savings account in Singapore is a straightforward process, but it requires understanding who is authorised, what documents are needed, and the eligibility criteria.

Here is a detailed guide on how to get started.

Who Can Open a Joint Savings Account?

In Singapore, they can be opened by any two or more individuals. This includes:

• Spouses

Married couples often open joint accounts for easier management of household finances.

• Family Members

Siblings, parents, and children (above a certain age) can also opt for joint accounts to manage shared family expenses.

• Business Partners

For business-related finances, partners may open a joint account for transparency and ease of transactions.

What You Need to Open a Joint Savings Account?

The following documents are typically required:

1. Identification Documents: NRIC or passports of all parties involved.
2. Proof of Address: Utility bills or bank statements that show your current address.
3. KYC Information: Banks may require additional information to comply with Know Your Customer regulations.

Do Both Parties Have to Be There to Open a Joint Savings Account?

In most cases, the physical presence of all parties is necessary. This is for identity verification and to ensure mutual consent and understanding of the terms.

Exceptions include situations where it is not feasible for all parties to be physically present (e.g., one party residing overseas), where remote verification options can be used instead.

However, it is important to note that these exceptions are not the norm and are subject to the discretion of each bank.

In 2025, some banks such as DBS and OCBC also allow partial or full digital applications, reducing the need for physical branch visits.

{{cta-component}}

Eligibility for Opening a Joint Savings Account

Common eligibility criteria include:

• Age:

Most banks require individuals to be at least 18 years old.

• Residency Status:

Both residents and non-residents can open joint accounts, although the latter might face additional requirements.

• Minimum Initial Deposit:

Some may require a minimum opening deposit.

Pros of Having a Joint Account in Singapore

They offer several advantages:

Simplified Money Management: 

Joint accounts eliminate the need for multiple transfers, making it easier to cover shared commitments like bills, groceries, and mortgage payments.

This setup streamlines budgeting and ensures expenses are paid on time.

Shared Financial Goals:

They provide a single platform for couples or partners to save toward major goals such as buying a home, taking a vacation, or investing together.

Both parties can contribute regularly and stay accountable.

Ease in Tracking Expenses:

All spending and saving activity is visible in one place.

This makes it simpler to track patterns, stick to budgets, and avoid overspending.

Enhanced Financial Responsibility:

Operating a joint account requires cooperation and transparency.

It encourages regular conversations about spending habits, savings targets, and long-term planning.

Emergency Access:

Both holders can access funds quickly in emergencies, whether it’s medical bills, urgent repairs, or other unexpected costs.

This provides financial security and peace of mind.

Estate Planning Benefits:

In the event of one account holder’s passing, joint accounts may allow the surviving holder quicker access to funds compared to individual accounts.

{{cta-component}}

Cons of Having a Joint Account in Singapore

While joint accounts offer several advantages, there are also some potential drawbacks to consider:

Reduced Financial Privacy:

All transactions are visible to every account holder.

This transparency may feel intrusive if you prefer more independence.

Potential for Disagreements:

Differences in spending priorities can create tension and strain relationships.

Risk of Mismanagement:

If one holder overspends or makes poor financial decisions, the consequences affect everyone.

Complications in Separation or Divorce:

Dividing funds in the event of a breakup can be legally complex and emotionally difficult.

Vulnerability to Credit Issues:

If one holder faces debt problems, creditors may be able to make claims against the joint account.

Tax Considerations:

For non-residents, joint account interest may have tax implications depending on their home country’s reporting requirements.

It is important to weigh these cons against the pros when considering whether a joint account is suitable for your financial situation and relationship dynamics.

Final Thoughts about Joint Accounts in Singapore

In 2025, joint savings accounts in Singapore remain practical tools for couples, families, and partners to manage shared finances.

They provide stability for everyday expenses and shared savings goals.

At the same time, it’s worth balancing this stability with higher-yield opportunities. Kilde, for example, offers up to 15% p.a. from secured private debt products.

Combining the safety of a joint account with investment platforms like Kilde helps create a more resilient and diversified wealth strategy for 2025 and beyond.

This blended approach caters to immediate money management needs while also supporting long-term growth and financial security.

‍

Sources:

1. dbs.com.sg
2. ocbc.com
3. uob.com.sg
4. sc.com
5. maybank2u.com.my
6. bank-of-china.com

‍

^{***KILDE PTE LTD (“Kilde”) is incorporated in Singapore (registration no. 201929587K) is licenced and regulated by the Monetary Authority Singapore and holds a Capital Markets Services Licence (CMS101016) and an Exempted Financial Advisor License under the Financial Adviser Act. The information provided in this marketing material is intended for “accredited investors” and “institutional investors” (collectively “qualified persons”) only. This marketing material, and any information in this marketing material, or any documentation that Kilde provides in relation to this marketing material is provided without any representation or any kind of warranties whatsoever (whether express or implied by law).}

^{This advertisement has not been reviewed by the Monetary Authority of Singapore.}