The best high-yield savings accounts offer annual percentage yields (APYs) that can be up to ten times higher than the typical savings rates found across Asia Pacific. For savers looking to maximise their returns, these accounts are the perfect place to park money and let it grow.
While rising interest rates have increased the appeal of savings accounts, many of the options featured below offer robust APYs, ideal for both short-term and long-term savings goals. Whether you're based in Singapore, Hong Kong, Australia, or other major financial hubs in the Asia-Pacific region, there are accounts that cater to various needs and balances.
Here are some of the best high-yield savings accounts available:
Best high-yield savings accounts in Asia-Pacific as of December 2024
| Bank/Institution | APY | Additional information |
| Citi Max Savings Account | 4.30% | Available to residents in Singapore & Hong Kong |
| HSBC Premier Savings Account | 4.55% | Must meet monthly deposit criteria |
| ANZ Online Saver | 3.65% | Available in Australia, no minimum to earn APY |
| DBS Multiplier Savings | 1.50% | Popular in Singapore, multiple tier options available |
| OCBC 360 Account | 4.65% | Singapore-based, includes cashback offers |
| UOB One Account | 3.50% | Bonus is offered based on spending patterns |
| Macquarie Savings Account | 5.50% | Offers competitive rates for Australian residents |
Reasons to open a high-yield savings account
When interest rates are low, high-yield savings accounts could be an option for creating your emergency fund more efficiently. Many countries in Asia Pacific are seeing interest rates increase, making it the right time to receive higher returns from savings.
Take those points below in mind before opening such an account:
Minimum balance: Confirm that you would be able to meet that minimum balance requirement so as to earn your way to higher APY.
Bonus offers: Some of those accounts usually feature a sign-up bonus or rewards for achieving certain requirements.
Country-specific regulation: Interest rates on accounts differ from one country to the other, hence it is worth confirming that the account is open for people residing in your location.
You can use these high yield savings accounts to save for emergencies, the purchase of a big item, or simply increasing your income from idle cash. They offer competitive APYs, have low minimum balance requirements, and even bonuses upon opening.