Key information about Singapore Gross Savings Rate

• Singapore Gross Savings Rate was measured at 47.5% in Dec 2024, compared with 47.5% in the previous year.
• Singapore Gross Savings Rate is updated yearly, with data available from Dec 1960 to Dec 2024, and an average rate of 47.5%.
• The data reached an all-time high of 47.5% in Dec 1997 and a record low of -2.1% in Dec 1960.
• CEIC calculates Gross National Savings Rate from annual Gross National Savings and annual Gross National Income. The Singapore Department of Statistics provides Gross National Savings in local currency and Gross National Income in local currency.
• In the latest reports, Singapore GDP expanded 0.4% YoY in Mar 2023.
• Singapore Nominal GDP reached 120,606.6 USD mn in Mar 2023. Its GDP deflator (implicit price deflator) fell 0.0% in Mar 2023.
• Singapore GDP Per Capita reached 90,689.0 USD in Dec 2024.

Singapore Personal Saving Rate: sa data was reported at 35.300 % in Dec 2024. This records an increase from the previous number of 33.500 % for Sep 2024. Singapore Personal Saving Rate: sa data is updated quarterly, averaging 21.400 % from Mar 1980 (Median) to Dec 2024, with 180 observations. The data reached an all-time high of 55.700 % in Jun 2020 and a record low of 6.700 % in Sep 1988. Singapore Personal Saving Rate: sa data remains active status in CEIC and is reported by Singapore Department of Statistics. The data is categorized under Global Database’s Singapore – Table SG.A089: Personal Disposable Income and Personal Saving: Current Prices: Seasonally Adjusted.

The gross savings as a share of the GDP in Singapore decreased by 0.7 percentage points (-1.68 percent) in 2023 in comparison to the previous year. Gross savings are calculated as gross national income minus total consumption, plus net transfers.Find more statistics on other topics about Singapore with key insights such as net trade in goods and services, gross capital formation, and annual growth of gross capital formation.

Gross domestic savings (% of GDP) in Singapore was reported at 57.92 % in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. Singapore - Gross domestic savings (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

In a financial wellness survey conducted in Singapore in 2022, working adults in their twenties reported saving ** percent of their monthly income in cash savings. In comparison, the same survey found that working respondents aged 55 to 65 set aside ** percent of their income.

Singapore SG: Savings Rate data was reported at 0.160 % pa in 2017. This records an increase from the previous number of 0.140 % pa for 2016. Singapore SG: Savings Rate data is updated yearly, averaging 2.140 % pa from Dec 1977 (Median) to 2017, with 41 observations. The data reached an all-time high of 10.002 % pa in 1981 and a record low of 0.100 % pa in 2013. Singapore SG: Savings Rate data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Singapore – Table SG.IMF.IFS: Lending, Saving and Deposit Rates: Annual.

In 2020, the interest rate on bank savings deposits in Singapore was 0.09 percent. This rate gradually increased, reaching 0.16 percent in 2017, before declining to the lowest level observed over the last year of the measured period.

Deposit Interest Rate in Singapore remained unchanged at 0.12 percent in June from 0.12 percent in May of 2021. This dataset includes a chart with historical data for Deposit Interest Rate in Singapore.

Adjusted savings: gross savings (% of GNI) in Singapore was reported at 50.3 % in 2021, according to the World Bank collection of development indicators, compiled from officially recognized sources. Singapore - Adjusted savings: gross savings (% of GNI) - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

Qatar, Singapore, and Norway were among the countries with the highest gross savings rate in 2021, which was between ** and ** percent. Gross savings in the United States amounted to over ** percent of its gross domestic product (GDP). There were also several countries with negative savings rates, which means that the gross national income was lower than the total consumption in those territories.

Singapore SG: Deposit Rate data was reported at 0.140 % pa in 2017. This records a decrease from the previous number of 0.190 % pa for 2016. Singapore SG: Deposit Rate data is updated yearly, averaging 2.737 % pa from Dec 1977 (Median) to 2017, with 41 observations. The data reached an all-time high of 10.710 % pa in 1981 and a record low of 0.136 % pa in 2012. Singapore SG: Deposit Rate data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Singapore – Table SG.IMF.IFS: Lending, Saving and Deposit Rates: Annual.

Bank deposit interest rate, percent in Singapore, March, 2025 The most recent value is 2.05 percent as of March 2025, a decline compared to the previous value of 2.15 percent. Historically, the average for Singapore from January 2000 to March 2025 is 0.8 percent. The minimum of 0.29 percent was recorded in January 2012, while the maximum of 2.46 percent was reached in January 2000. | TheGlobalEconomy.com

The statistic shows the results of a survey about the share of people saving for old age in Singapore in 2017, by type of population. In the period surveyed, the highest share of respondents saving for old age was among employed with about 59 percent, compared to only about 20 percent of the surveyed people who were aged between 15 and 24 years.

The deposit interest rate in Singapore decreased by 0.1 percentage points (-55.56 percent) compared to the previous year. Therefore, 2021 marks the lowest deposit interest rate during the observed period. Deposit interest rate is the rate paid by commercial or similar banks for demand, time, or savings deposits.Find more statistics on other topics about Singapore with key insights such as domestic credit to the private sector as a share of GDP, broad money as a percentage of GDP, and real interest rate.

Personal Saving Rate：SA在12-01-2024达35.300%，相较于09-01-2024的33.500%有所增长。Personal Saving Rate：SA数据按季更新，03-01-1980至12-01-2024期间平均值为21.400%，共180份观测结果。该数据的历史最高值出现于06-01-2020，达55.700%，而历史最低值则出现于09-01-1988，为6.700%。CEIC提供的Personal Saving Rate：SA数据处于定期更新的状态，数据来源于Singapore Department of Statistics，数据归类于全球数据库的新加坡 – Table SG.A089: Personal Disposable Income and Personal Saving: Current Prices: Seasonally Adjusted。

Tabungan Bruto Singapura dilaporkan sebesar 47.5 % pada 2024. Rekor ini turun dibanding sebelumnya yaitu 47.7 % untuk 2023. Data Tabungan Bruto Singapura diperbarui tahunan, dengan rata-rata 44.2 % dari 1960 sampai 2024, dengan 65 observasi. Data ini mencapai angka tertinggi sebesar 52.7 % pada 1997 dan rekor terendah sebesar -2.1 % pada 1960. Data Tabungan Bruto Singapura tetap berstatus aktif di CEIC dan dilaporkan oleh CEIC Data. Data dikategorikan dalam Global Economic Monitor World Trend Plus – Table: Gross Savings Rate: Annual.

Singapore Weighted Average Rate: Outstanding: Saving Deposits: ≥ $75K data was reported at 0.620 % in Dec 2024. This records an increase from the previous number of 0.600 % for Sep 2024. Singapore Weighted Average Rate: Outstanding: Saving Deposits: ≥ $75K data is updated quarterly, averaging 0.420 % from Sep 2021 (Median) to Dec 2024, with 14 observations. The data reached an all-time high of 0.690 % in Mar 2024 and a record low of 0.150 % in Jun 2022. Singapore Weighted Average Rate: Outstanding: Saving Deposits: ≥ $75K data remains active status in CEIC and is reported by Monetary Authority of Singapore. The data is categorized under Global Database’s Singapore – Table SG.M002: Deposits Rates.

Interest rate spread (lending rate minus deposit rate, %) in Singapore was reported at 5.1283 % in 2021, according to the World Bank collection of development indicators, compiled from officially recognized sources. Singapore - Interest rate spread (lending rate minus deposit rate, %) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

The statistic shows the results of a survey about the share of people saving any money in Singapore in 2017, by type of population. In the period surveyed, the highest share of respondents saving any money in the past year was among people in labor, with around 83 percent, while only about 61 percent of surveyed respondents with primary education or less saved any money.

This data is used for article of macroeconomic of some Asian countries in long period which explained about four Asian countries, such as Indonesia, Malaysia, Singapore, and South Korea. This data has taken from World Bank Development Indicators (WDI) database and is formed by Vector Auto Regression (VAR) model, then empirical result is executed by Granger causality model on E-views 11 program to gauge the relationship between gross domestic product, exchange rate, inflation rate, foreign direct investment, net export, government expenditures, unemployment rate, and savings. The results showed that most of gross domestic product of sample and other macro-economy variables have not causality relationship.