Providing basic banking services to low-income Singaporeans, operating just like a Passbook Savings Account.
Basic Bank Account Features
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Convenient Withdrawals
Make cash withdrawals quickly and easily at our wide network of branches.
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Island-Wide NETS Payments
Make NETS payments island wide with your ATM card.
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Free Withdrawals
Withdraw funds for free at more than 200 atm5 machines in Singapore Look for the atm5 logo.
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International Recognition
Use your ATM card to enjoy 24-hour global access to cash through the Cirrus and Maestro networks.
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Standing Instructions
Standing instructions for regular payments.
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Local Bill Payments
Make easy online payments to over 360 local billing organisations who have registered with us. Pay with your SC credit card or direct from your account.
-
Convenient Withdrawals
Make cash withdrawals quickly and easily at our wide network of branches.
-
Island-Wide NETS Payments
Make NETS payments island wide with your ATM card.
-
Free Withdrawals
Withdraw funds for free at more than 200 atm5 machines in Singapore Look for the atm5 logo.
-
International Recognition
Use your ATM card to enjoy 24-hour global access to cash through the Cirrus and Maestro networks.
-
Standing Instructions
Standing instructions for regular payments.
-
Local Bill Payments
Make easy online payments to over 360 local billing organisations who have registered with us. Pay with your SC credit card or direct from your account.
|
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
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.