Benefits of a Cheque & Save Account
| Service | Charges |
|---|---|
| Minimum initial deposit | S$5,000 (Personal and Corporate) |
| Fall-below fee | S$7.50 per month if average daily balance for the month falls below S$5,000 |
| Monthly service charge | S$2 |
| Unarranged overdraft | Prime +5%, minimum S$5 |
| Early account closure fee (within 6 months) | S$30 (Personal) S$50 (Corporate) |
| Cheque book | S$10 for each cheque book requested |
Eligibility
Documents Required
- NRIC (front and back)
Mandatory supporting documents for foreigners:
- Passport
- Employment Pass
- Any of the following documents:
- Utility bill within the last 3 months
- Bank statement within the last 3 months
- Letter from the human resource department of current employer stating address
- Government-issued documents stating address (e.g. IRAS, CPF, ICA)
- Telecommunications bill within the last 3 months
- Tenancy agreement
Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$100,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.
