Basic Bank Account Features

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

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

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.