Singapore banks compared: DBS, OCBC, UOB and others

A Singapore bank comparison is useful only once you know which products you are eligible for. Banks publish broadly similar fee structures (an initial deposit, a minimum balance and a monthly charge if the balance falls below it), but they differ much more on who may open an account and through which channel: shareholder nationality, whether directors hold Singpass, and where the company is incorporated. This page compares published terms at DBS Bank (DBS), Oversea-Chinese Banking Corporation (OCBC), United Overseas Bank (UOB) and, for priority tiers, HSBC Bank (Singapore), Standard Chartered Bank (Singapore) and Bank of Singapore.

All figures are as published on each bank's website, checked in October 2026. Banks change tariffs without notice and different pages of the same bank may differ; confirm the current pricing guide before applying. Nothing here is a ranking or a recommendation.

How to read this comparison

Use three filters in order.

1. Can this customer open this product? For individuals: pass type, Singpass and country of residence. For companies: place of incorporation, shareholder nationality, director residency and Singpass, and whether a corporate shareholder sits in the chain.
2. Which channel applies? Instant online, online with review, remote via the app or a relationship manager, or in a branch.
3. What will it cost at your expected balance? Most monthly fees fall away above a minimum balance, so the relevant figure is the fee at the balance you will actually hold.

Approval is a separate question. Every bank performs customer due diligence under MAS Notice 626 and decides on each application; meeting published criteria does not mean an account will be opened. See KYC and customer due diligence.

Personal accounts: DBS, OCBC and UOB

The higher-balance accounts at each bank (for example DBS Multiplier, with a S$3,000 minimum and S$5 fall-below fee, or DBS expatriate accounts at S$5,000 and S$7.50) follow the same pattern. Interest rates are deliberately left out because they change often and depend on bonus conditions. For the Chinese-language deep dive on personal accounts, see bankaccount.sg; for routes by residency status, see personal accounts.

Business accounts: DBS, OCBC and UOB

UOB states that a Singapore-registered company with foreign directors can apply online, but a Singaporean Singpass holder must log in and start the application; its general online eligibility also requires at least one owner or director who is a Singapore citizen or PR (UOB eBusiness page, checked October 2026), so a company with only foreign founders falls outside this route. Some UOB pages advertise different minimum-balance terms from the product page; this table follows the product page. Fee categories and SDIC cover for company deposits are explained in business fees and deposit insurance.

Foreign-owned and overseas-incorporated companies

Ownership and place of incorporation change both the product and the price.

Remote availability is about channel, not outcome: the same due diligence applies, including beneficial owners above the bank's threshold and evidence that the company has real activity connected to Singapore. See corporate accounts and the document checklist.

Priority and private banking entry levels

These are each bank's published criteria, not regulatory thresholds, and meeting them does not guarantee acceptance. Priority and private relationships usually involve deeper source-of-wealth review (see source of funds and wealth). Private banking services and lending are covered by hnwsolution.com.sg.

Where digital banks fit

Digital banks are compared on their own page because their eligibility rules differ so much. In summary, MAS issued digital full bank licences to GXS Bank and MariBank Singapore, and digital wholesale bank licences (for SMEs and other non-retail customers) to ANEXT Bank and Green Link Digital Bank. The MAS Financial Institutions Directory lists Trust Bank Singapore as a Full Bank, not one of the four (entry updated 25 August 2026). Business accounts at GXS and MariBank generally require citizen or PR ownership, or Singpass access, at the director and major-shareholder level, so foreign-owned companies usually need a traditional bank. See digital banks compared.

Dimensions that matter more than headline fees

Before comparing monthly charges, check these points against each bank's current terms:

• Ownership eligibility: are any shareholders with 25% or more foreign nationals, or companies?
• Director residency and Singpass: can a director start an online application, or must another person do so?
• Place of incorporation: does the bank need a foreign-company product with a set-up fee?
• Currencies and corridors: which currencies and countries will payments involve?
• Expected balance: will the account sit above the fee-waiver threshold?
• Channel: is a branch visit, video verification or relationship manager required?
• Statements and records: will the bank's statements serve auditors, tax filings and CRS reporting?

The answer is rarely one bank for all needs. If you need help reading tariffs against your own structure, you can register an enquiry through the contact options on this site.