Trust Bank review
Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Trust Bank suits savers in Singapore who want instant access and a fee-free account, paying a variable headline rate of 2.4% on the Personal Savings Account. The yield trails Wise at 3.29%, so the case rests on the running costs and the app rather than the rate.
Key facts
- Best for
- On-demand savings with no monthly fee and no minimum deposit to open.
- Headline rate
- 2.4%↗
- Rate type
- Variable↗
- Term
- 3 to 60 months↗
- Minimum deposit
- SGD 0↗
- Access terms
- Personal Savings Account by Trust, on-demand access via the Trust App, no minimum balance and no fall-below fee↗
- Monthly fee
- SGD 0↗
- Account kind
- Easy access↗
- Legal entity
- Trust Bank Singapore Limited↗
- Headquarters
- Singapore↗
- Support channels
- Chat, Phone, Help-centre↗
- Pricing model
- No monthly fee
- Official website
- trustbank.sg
Loans
- APR
- 18.9% to 29.9%↗
- Loan amount
- SGD 500↗
- Arrangement fee
- 0.88% first year annual fee on loan amount↗
- Credit check
- Hard↗
- Funding time
- deposited into your Trust savings account in seconds↗
- Lender type
- Direct lender↗
- Free early repayment
- No↗
- Eligibility
- Age 21-65; annual income S$30,000 for Singapore citizen or permanent resident, S$60,000 for foreigner with a valid work pass↗
- Origination fee (%)
- 0.88%↗
- Loan types
- Personal, Credit-line, Debt-consolidation↗
- Features
- Travel
Credit cards
- Annual fee
- SGD 0↗
- Currency conversion fee
- 0%↗
- Rewards type
- Cashback↗
- Rewards rate
- 3% stockback, or 1.3 miles per S$1, or up to 1.5% unlimited cashback or up to 15% bonus cashback↗
- Balance transfer intro period
- 1 to 12 months↗
- Balance transfer fee
- 0.98% to 3.91%↗
- Perks
- 0% foreign transaction fee, One payment to settle both Trust credit cards, Choose your repayment date, Switch rewards every quarter with no fees or penalty, Instant approval, Digital app with in-app card lock and fraud alerts↗
- Card kind
- Credit↗
Debit cards
Facts checked September 26, 2026, 12 sources
Apps and profiles
- Get the app
- App Store
Pros and cons
Pros
- No minimum balance and no fall-below fee, with on-demand access through the Trust App.
- The minimum deposit of SGD 0 puts it at rank 1 of 379 on the site's minimum deposit table.
- Instant loan funds are deposited into your Trust savings account in seconds, and Trust Bank is a direct lender.
- Extras listed with the card include 0% foreign transaction fee, One payment to settle both Trust credit cards and Choose your repayment date.
Cons
- Free early repayment is not available on the instant loan.
- The free ATM allowance is SGD 0, so cash withdrawals cost from the first one.
- The card's APR of 18.9% to 29.9% sits above the 15.5% site median, and the instant loan adds an origination charge of 0.88%.
Who it suits
- Singaporean savers who want on-demand access without a monthly charge.
- Travellers who pay no currency conversion charge, at 0% on the linked card.
- Card shoppers comfortable with an APR of 18.9% to 29.9% who want cashback rewards.
Who should look elsewhere
- Readers who want the highest rate: Wise pays 3.29%, ahead of Trust Bank.
- Savers who leave money untouched and only chase the rate: bunq's 3.01% is higher.
Fees and currency costs
Keeping the Personal Savings Account open costs nothing: the monthly fee is SGD 0 and the minimum deposit is SGD 0. An account can therefore be opened and funded at whatever level suits the holder and left there without a charge appearing each month. A monthly charge and an opening threshold are what usually eat into what a balance earns, and Trust Bank asks for neither.
How Trust Bank compares
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Where Trust Bank is available
- Available
- Singapore
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What rate does the Trust savings account pay?+
The Personal Savings Account pays a headline rate of 2.4% and it is variable, so the return can move rather than being locked. Against the 3% site median, that places it at rank 305 of 488 brands on rate, which is the clearest reason to look elsewhere for yield.
Is there a minimum deposit or a monthly charge?+
There is no minimum deposit: the figure is SGD 0, and there is no fall-below fee either. The monthly fee is SGD 0 as well, and the account runs on a no monthly fee basis, so holding it costs nothing. That matters most for savers keeping a small buffer, since a minimum or a monthly charge would eat into the interest the balance earns.
How do I get at my money?+
Access is on demand through the Trust App, which is how the Personal Savings Account is meant to be used. The account is classed as easy access, so there is no notice period or fixed term to serve, and no fall-below fee when the balance drops. Support runs on chat, phone and help centre when the app is not enough.
What does the linked debit card cost to use?+
The linked card is a debit card on the visa network, accepted wherever that network is used. Currency conversion is free, at 0%, which suits the travel spending the account targets. Cash machine withdrawals are the weak spot: the free allowance is SGD 0.
What does the Freedom credit card cost?+
The Freedom card is a credit card with an annual fee of SGD 0. Its cashback reward depends on the option picked, with stockback, miles per dollar spent or a cashback rate listed for each option. The card's APR is 18.9% to 29.9%, and extras listed include 0% foreign transaction fee, One payment to settle both Trust credit cards and Choose your repayment date.
Can I borrow from Trust Bank, and what does it cost?+
Trust Bank is a direct lender, covering personal, credit line and debt consolidation lending through its instant loan. The amount starts at SGD 500 and the term runs 3 to 60, with funds deposited into your Trust savings account in seconds. Applications carry a hard credit check and an origination charge of 0.88% in the first year, and free early repayment is not available.
Sources
- trustbank.sg/balance-transfer checked September 26, 2026
Backs: Balance transfer fee, Balance transfer intro period
“Our low fees start from ... 1 mth 0.98% ... 11 mths 3.91%”
- trustbank.sg/contact-us checked September 26, 2026
Backs: Support channels
“Get 24/7 help via in-app chat or call ... Call us at +65 313-TRUST (+65 3138 7878) ... Tap Help Centre”
- trustbank.sg/credit-card checked September 26, 2026
Backs: Rewards rate
“3% stockback on local and foreign spends* OR 1.3 miles per dollar on local and foreign spends OR Earn up to 1.5% unlimited Cashback OR up to 15% bonus Cashback on what you love”
- trustbank.sg/freedom-credit-card checked September 26, 2026
Backs: Perks, Rewards type
“$0 foreign transaction fee ... $0 annual card fee ... Two cards. One payment. Have both Freedom and Trust Link credit cards? A single card payment conveniently pays off the outstanding balance for...”
- trustbank.sg/great-exchange-rates checked September 26, 2026
Backs: Features
“Goodbye, FX fees. Hello, stress-free travels! Score the best rates from us on your overseas spend with Trust card.”
- trustbank.sg/instant-loan checked September 26, 2026
Backs: Credit check, Eligibility, Funding time, Lender type
“All loan applications will be subjected to the bank's credit checks for loan eligibility.”
- trustbank.sg/legal checked September 26, 2026
Backs: Loan types
“Debt Consolidation Plan - Product Terms and Key Facts Sheet”
- trustbank.sg/legal/general-terms-and-conditions checked September 26, 2026
Backs: Legal entity
“Our terms are between you and us (Trust Bank Singapore Limited)”
- trustbank.sg/legal/key-facts-sheet-and-product-terms-savi... checked September 26, 2026
Backs: Access terms, Account kind, Free ATM withdrawals, Card type, Currency conversion fee, Minimum deposit, Pricing model, Monthly fee, Card network
“Fall-below fee None! ... You can start using your account as soon as it has been opened for you with an account number assigned.”
- trustbank.sg/legal/key-facts-sheet-for-instant-loan checked September 26, 2026
Backs: Loan amount, Free early repayment, Arrangement fee, Origination fee (%), Term
“The minimum amount for each loan application is S$500.”
- trustbank.sg/legal/trust-freedom-credit-card-key-facts-sheet checked September 26, 2026
Backs: Annual fee, APR, Card kind
“Annual fee charges None!”
- trustbank.sg/savings-account checked September 26, 2026
Backs: Headline rate, Rate type
“Earn up to 2.40% p.a. interest on deposits up to S$1.2M. Our savings account now offers 3 plans.”
- trustbank.sg/who-we-are checked September 26, 2026
Backs: Headquarters
“Built in Singapore, for Singapore”
Compiled from 13 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Deposit protection.
Trust Bank
On-demand savings with no monthly fee and no minimum deposit to open.