Trust Bank has launched Flex, a new savings plan that allows customers to customise how they earn interest, offering a market-first approach to personal finance in Singapore.

The Trust Flex savings plan enables customers to select how they grow their money — through spending, saving, or investing — with the flexibility to adjust their choices at any time. Customers can earn up to 2.5 per cent per annum on deposit balances of up to S$1.2 million.

Customisable savings built for flexibility

Flex introduces a new level of personalisation to savings accounts in Singapore. Customers can build their own plan by choosing three bonus interest categories from a list of eight options based on their financial habits and goals. These may include salary crediting, PayNow transfers, or foreign exchange spending.

Unlike many savings accounts that reward specific behaviours, Flex lets customers decide which actions earn them higher interest. If financial priorities shift, users can easily switch their interest categories in the Trust app, with changes taking effect the following month.

Trust said customer feedback highlighted a gap in the market: while existing products reward specific activities, they offer limited flexibility for those whose priorities change over time.

Inspired by Singapore’s “caifan concept”

The design of Flex drew inspiration from the local “caifan” (mixed rice) meal — allowing customers to “pick and mix” their preferred benefits. The bank likened it to choosing ice cream scoops, where users can select the combination that best suits their financial tastes.

Flex joins Trust’s other two savings options: Signature and Zen. The Signature plan mirrors Trust’s original account structure, suited for customers seeking consistency. Zen offers a single base rate with no conditions, appealing to those who prefer simplicity.

All three plans provide interest on balances of up to S$1.2 million, higher than most local headline limits.

Strong early uptake

Since its launch in September, the Flex plan has seen encouraging adoption. Trust reported that 10 per cent of customer balances have already moved to the new plan. Popular categories include foreign currency spending, salary crediting, and PayNow usage.

Aditya Gupta, Chief Product Officer at Trust, said: “The Flex plan started with a simple idea — to let customers build their own savings account. With Flex, they get flexibility, transparency and control to grow their money in a way that fits their lifestyle.”

The Flex plan is available now through the Trust app. Singapore dollar deposits of non-bank customers remain insured up to S$100,000 under the Singapore Deposit Insurance Scheme.

Trust said it will continue refining its savings products to offer “personalised, rewarding and delightfully different” experiences for customers in Singapore.