Trust Bank Singapore Review 2026: Earn Up to 2.5% Interest

Last Updated: 12 Feb 2026

For years, I was a loyal DBS user, content with what I considered a decent banking experience. That was until I stumbled upon Trust Bank Singapore. Intrigued by the buzz and curious about the hype, I decided to give this new digital bank a try. Fast forward to 2026, and I’ve chucked my DBS app into the digital wastebasket and embraced Trust Bank as my go-to banking companion alongside my favourite UOB One Account. So, why the change of heart? Since switching in mid-2024, I’ve not only avoided fees but have earned over S$1,200 in interest and cashback—money that would have otherwise been left on the table. Let’s dive into my updated Trust Bank Singapore review for 2026 to find out.

Trust Bank has rapidly evolved since its launch in September 2022. It’s no longer just a new player; it’s a formidable force in Singapore’s digital banking scene, having surpassed 1 million customers by early 2024 . This review will dissect its comprehensive offerings, from its multi-tiered savings accounts to its new investment platform, and help you determine if it’s the right choice for your financial needs in 2026.

Quick Facts Summary (2026)

Feature	Details
Max Interest Rate	Up to 2.5% p.a. (until Feb 28, 2026), 2.4% p.a. (from Mar 1, 2026)
Deposit Cap	S$1,200,000
Savings Plans	Zen, Signature, and Flex plans
Premium Tier	Trust+ (for balances > S$100,000)
Key Products	Savings Account, Credit/Debit Card, Loans, Insurance, Investments
Investment Platform	TrustInvest (US Stocks, ETFs, Mutual Funds)
Key Feature	No foreign transaction fees
Insurance	SDIC insured up to S$100,000

Understanding Trust Bank’s Savings Plans

In late 2025, Trust Bank moved away from a one-size-fits-all approach and introduced a trio of savings plans: Zen, Signature, and Flex. This allows you to choose a structure that best aligns with your spending and saving habits. By default, all users are on the Signature plan, but you can switch between plans monthly via the Trust App .

Here’s a breakdown of how each plan works:

Plan	Max Rate (p.a.)	My Take	Who It’s Really For
Zen Plan	0.50%	Simple, but you’re leaving money on the table.	The “Set It and Forget It” Saver who hates thinking about requirements.
Signature Plan	1.30%	Good for salaried employees with a consistent routine.	The 9-to-5 Professional who credits their salary and has a high balance.
Flex Plan	2.50%	The best option for optimizers and those with irregular income, like me.	The Hands-On User who enjoys gaming the system for maximum returns.

The Flex Plan: Customise Your Interest

The Flex plan is Trust Bank’s most innovative offering, allowing you to earn up to 2.50% p.a. by completing three out of eight possible actions each month. This is perfect for those who want to actively manage their finances to maximize returns, similar to how you might optimize budgeting strategies for maximum savings.

Here are the 8 “scoops” of bonus interest you can choose from:

•+1.20% p.a. for referring a new credit card customer.

•+0.70% p.a. for purchasing S$20,000 in eligible TrustInvest funds.

•+0.50% p.a. for crediting a minimum S$1,500 salary via GIRO.

•+0.40% p.a. for maintaining a minimum S$100,000 Average Daily Balance (ADB).

•+0.30% p.a. for making 5 card spends of at least S$30 each (0.20% for non-union members).

•+0.20% p.a. for increasing your ADB by S$3,000 from the previous month.

•+0.20% p.a. for receiving S$1,500 in incoming PayNow transfers.

•+0.20% p.a. for spending S$500 in foreign currency.

Important Note: From March 1, 2026, the maximum achievable interest rate will be revised to 2.4% p.a. . While this is a slight reduction, it remains a highly competitive rate compared to traditional banks and even some high-interest savings accounts in Singapore.

Trust+: The Premium Tier for High-Balance Savers

For those with more substantial savings, Trust Bank offers Trust+, an exclusive premium tier. You automatically qualify for Trust+ in the following month if your total Average Daily Balance (ADB) across your savings account and/or TrustInvest account value is at least S$100,000 .

Being a Trust+ member gives you access to the highest interest rates and other exclusive perks, making it a compelling option for serious savers looking to maximize their earnings. Learn more about Trust+ benefits on the official page.

One Card, Two Functions: The Trust Credit & Debit Card

Trust Bank simplifies your wallet with a single card that functions as both a credit and debit card. You can seamlessly switch between the two functions within the app. For added security, the physical card is numberless, reducing the risk of your details being compromised if the card is lost or stolen .

Key Card Benefits for 2026

•High Savings at FairPrice Group: Get up to 21% savings on groceries and food at FairPrice, Unity, Cheers, and Kopitiam with the Link Credit Card.

•Significant Fuel Savings: Enjoy up to 20% fuel savings at Caltex stations islandwide.

•No Foreign Transaction Fees: A major advantage for frequent travelers or online shoppers, as Trust charges no FX fees or exchange rate markups on overseas spending—a feature that beats many traditional credit cards.

•Dual Card System: Choose between the Link Credit Card, which earns LinkPoints on all spending, and the Cashback Credit Card, which offers direct cashback.

Cashback Update: From March 1, 2026, the cashback structure will be simplified. Instead of a tiered system, you will earn up to 1% unlimited instant cashback on all eligible spending, including your preferred category .

Beyond Savings: A Full Suite of Financial Products

Trust Bank has expanded significantly beyond its initial savings and card offerings. It now provides a comprehensive suite of financial products, positioning itself as a true challenger to traditional banks.

TrustInvest: Investing from Just US$10

In January 2026, Trust Bank launched TrustInvest, becoming the first banking app in Singapore to offer fractional trading of US stocks and ETFs . This was a game-changer, allowing users to invest in over 7,000 US stocks and ETFs directly from their banking app, with a minimum investment of just US$10.

Partnering with Saxo, TrustInvest offers a seamless experience for both new and experienced investors.

Key Features of TrustInvest:

•Low Barrier to Entry: Start investing with as little as US$10.

•Zero Commission Promo: Enjoy zero commission on all trades until June 30, 2026. After the promotion, a competitive rate of 0.05% (min. US$2.99) applies.

•No Hidden Fees: There are no custody, platform, or settlement fees.

•Integrated Experience: Easily transfer funds between your savings and investment accounts within the same app.

•Savings Bonus: Purchasing S$20,000 in TrustInvest funds can earn you a +0.70% p.a. bonus on your savings with the Flex Plan.

For those interested in long-term investment strategies, you might also want to explore ETF investments like VWRA or compare CSPX vs. VOO for your portfolio diversification.

Loan and Insurance Services

Trust Bank also offers competitive loan and insurance products, further solidifying its position as a one-stop financial hub.

•Personal Loans: Access instant loans with rates starting from as low as 2.22% p.a. (EIR 4.22% p.a.) with no processing fees . Apply directly through the Trust Bank app.

•Insurance: A comprehensive suite of insurance products underwritten by NTUC Income is available, covering everything from travel and home to pet and family personal accidents .

Exclusive Merchant Offers & Partner Deals

One of the significant advantages of the Trust ecosystem is its deep integration with the FairPrice Group and other popular merchants. The merchant offers can be hit-or-miss, but some are genuinely good. I used the 1-for-1 Starbucks Grande drink offer last week with a friend—it saved me about S$8. It’s a nice little perk that adds up.

Merchant	Offer
Golden Village	1-for-1 Gold Class tickets
Mandai Wildlife Reserve	50% off admission fees
Pan Pacific Singapore	1-for-1 Buffet at Edge
Starbucks	1-for-1 Grande Drinks
Caltex	Up to 20% fuel savings
Agoda	Up to extra 20% off bookings
KFC, Deliveroo, CDG Zig	Up to extra 20% off

These specific, high-value deals are a major step up from the generic coupons offered at launch and provide tangible value to cardholders. For more ways to save money in Singapore, check out my guide on beating inflation and the GST hike.

A Transparent Look at Fees and Charges

Trust Bank prides itself on its fee-less structure, which remains one of its core attractions. Here is a clear breakdown of what you won’t have to pay for.

Fee Type	Cost
Monthly Account Fee	S$0
Minimum Balance Fee	S$0
Account Closure Fee	S$0
Card Replacement Fee	S$0
Foreign Transaction Fee	S$0
ATM Withdrawal Charges	S$0
Loan Processing Fees	S$0

This transparent, no-hidden-fees approach is a refreshing change from traditional banks and a key reason for its popularity.

Pros and Cons: A Balanced View for 2026

No bank is perfect. To give you a balanced perspective, here are the key pros and cons of using Trust Bank in 2026.

Pros	Cons
✅ Highly competitive interest rates (up to 2.5% p.a.)	❌ Top interest rates require meeting specific criteria (high balance, spending, etc.)
✅ Truly fee-less banking with no hidden charges	❌ Base interest rate (0.1% or 0.5%) is not the highest in the market
✅ Integrated investment platform (TrustInvest) from just US$10	❌ Interest rates are being revised downwards slightly from March 2026
✅ No foreign transaction fees on card spending	❌ The most rewarding Flex Plan requires active monthly management
✅ Comprehensive product suite (loans, insurance, investments)	❌ Customer service is primarily digital (no physical branches)
✅ Valuable merchant offers and fuel savings	❌ The S$1.2M deposit cap might be limiting for some high-net-worth individuals

How Does Trust Bank Compare to Other Digital Banks?

Singapore’s digital banking space is heating up, with competitors like GXS Bank and MariBank also vying for customers. Here’s how Trust Bank stacks up against them in 2026.

Feature	Trust Bank	GXS Bank	MariBank
Max Interest Rate	Up to 2.5% p.a. (tiered)	2.68% p.a. (on Savings Pockets)	2.88% p.a. (promotional)
Base Interest Rate	0.1% – 0.5% p.a.	2.38% p.a.	2.5% p.a.
Deposit Cap	S$1,200,000	S$75,000	S$100,000
Physical Card	Yes (Credit/Debit)	Yes (Debit)	No
Investment Offering	Yes (TrustInvest)	No	No
Ecosystem	Strong (FairPrice, LinkPoints)	Strong (Grab, Singtel)	Strong (Shopee, SeaMoney)

While GXS and MariBank may offer higher flat interest rates on smaller deposit amounts, Trust Bank’s key advantages are its much higher deposit cap (S$1.2M vs. S$75K/S$100K) and its integrated investment platform. This makes Trust a more suitable primary bank for those looking to consolidate larger savings and investments in one place.

My Verdict: Is Trust Bank Right for YOU?

After a thorough review of its 2026 offerings, it’s clear that Trust Bank is no longer just for early adopters. It has matured into a full-fledged digital bank suitable for a wide range of users.

You should consider Trust Bank if:

•You are a savvy saver who wants to actively manage your account to earn one of the highest interest rates in Singapore on a large deposit amount.

•You are a frequent FairPrice or Caltex customer and can benefit significantly from the high savings rates.

•You want to start investing in US stocks with a small amount of capital and prefer an integrated banking app.

•You travel or shop online internationally and want to avoid foreign transaction fees.

•You have over S$100,000 in savings and want to take advantage of the Trust+ premium tier.

However, if you prefer a simple, no-fuss savings account with a high flat interest rate on a smaller balance and don’t need the extra features, you might find GXS or MariBank more straightforward.

Frequently Asked Questions (FAQ)