Why is GXS adjusting the interest rate after increasing the deposit cap to S$75,000?

As a growing digital bank, GXS is constantly iterating our products to better meet your needs.

We’ve been paying attention to how you use your GXS Savings Account for Grab and Singtel Dash transactions to earn 1.2x reward points from eligible transactions. As these funds are debited through the Main Account of the GXS Savings Account, we have received feedback that our customers would like to earn higher interest while still enjoying the benefits of our ecosystem rewards programme.   

Our latest iteration of the GXS Savings Account will see an adjusted interest rate for the Main Account from 0.08% per annum to 2.38% per annum. Interest earned in the Saving Pockets will be adjusted from 3.48% per annum to 2.68% per annum. This change will come into effect on 17 August 2023.

We hope these changes will better meet your needs and make your banking experience with us even better!