Benefits of an e$aver Kids Account
No minimum deposit
Open an account for your child with no minimum initial deposit
No minimum balance
Maintain any balance you desire as every child’s savings habits is unique.
No Lock-In Period
Enjoy the flexibility to withdraw funds anytime
No Monthly Fees
With no monthly fees payable, you can build up your savings faster
SERVICE
| CHARGES
|
|---|---|
| Minimum initial deposit | S$0 |
| Fall-below fee | S$0 |
| Minimum average daily balance | S$0 |
| Early account closure fee (within 6 months) | S$0 |
ELIGIBILITY
- Trustee to complete e$aver Kids Trust Account Opening Form
- Trustee to sign Declaration of Trust
- Trustee to submit NRIC/passport of Trustee of which a copy will be retained
- Trustee to submit the birth certificate of beneficiary of which a copy will be retained
- Trustee must complete a GIRO or Standing Instruction Application Form for monthly deposits of at least $50 into account (must be from bank account in Trustee’s name)
- Trustee (Parents) must be 21 years old and above
- Beneficiary (Child) must be below 18 years old
- Singaporeans, permanent residents or foreigners
DOCUMENTS REQUIRED
- NRIC (front and back)
s:
- Passport
- Employment Pass
- Any of the following documents:
- Last 3 months’ utility bill
- Last 3 months’ bank statement
- Letter from the human resource department of current employer stating address
- Government-issued documents stating address (e.g. IRAS, CPF, ICA)
- Telecommunications bill
- 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.
