Disclaimer

This is to inform that by clicking on the hyperlink, you will be leaving sc.com/sg and entering a website operated by other parties.

Such links are only provided on our website for the convenience of the Client and Standard Chartered Bank does not control or endorse such websites, and is not responsible for their contents.

The use of such website is also subject to the terms of use and other terms and guidelines, if any, contained within each such website. In the event that any of the terms contained herein conflict with the terms of use or other terms and guidelines contained within any such website, then the terms of use and other terms and guidelines for such website shall prevail.

Thank you for visiting www.sc.com/sg


Proceed
Person, Human, Pc

Operating just like a Passbook Savings Account, Basic Bank Account provides affordable basic banking services to low-income Singaporeans

Features

Electronics, Phone, Mobile Phone
Sg cashone stories

Key Charges

Service
Charges
Minimum initial deposit S$20*
Minimum average daily balance S$0
Fall-below fee S$0
Monthly service charge S$2* (regardless of balance)
Early account closure fee (within 6 months) S$30
Passbook replacement fee S$30
* Waived for beneficiaries under of the MSF Public Assistance Scheme/Special Grant Scheme.

Eligibility & Documents

Eligibility

  • Nationality: Singapore citizen under Government’s Public Assistance Scheme / Special Grant Scheme
  • Age requirement: Minimum 15 years old
  • Initial deposit
    • $0

Documents Required

  • Mandatory supporting documents for Singapore citizens:
    • NRIC (front and back)

     

  • Government’s Public Assistance Scheme / Special Grant Scheme Card and/or Letter

Deposit Insurance Scheme

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.