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KidzSaver Savings Account
What's new
As part of our annual review of our existing products, please note that with effect from 1 Sept 2010, Passbook & KidzSaver Savings Accounts will no longer be available for new sign-ups. Existing account holders will not be affected. Please call our 24-hour Customer Service Hotline on 1800-HSBC NOW (4722 669).
Benefits and features
- Interest-earning savings account
- Complimentary debit card for for the parent
- Opportunity to convert to a joint statement savings account when your child turns 16 years old
- One month premium waiver on HSBC's ChildEnrich - a two-in-one endowment plan
Give your child a head start by opening a KidzSaver Savings account now. You can enjoy convenient access to your funds via HSBC’s global ATM network, 24-hour Phone Banking and Personal Internet Banking.
Eligibility
- Parent with children aged 16 and below.
- The account will be opened for the parent in trust for their child.
- Minimum initial deposit of S$1.
Fees
- Closure fee of S$50 is applicable if the account is closed within 6 months from opening date.
- Waiver of minimum balance fee of S$5 if average daily balance falls below S$2,000.
- For more details of fee and charges, please refer to the Personal Financial Services tariff guide
Required documents
- Identity Document/Passport
- Proof of address
- Original birth certificate of the child
Act now
- Phone: 1800-HSBC NOW (4722 669) in Singapore or (65) 6-HSBC NOW (4722 669) from overseas.
- Make an appointment with us today
Important notes
Under the provisions of the Deposit Insurance Act 2005 (the "Act"), Singapore dollar denominated deposits with HSBC held by individual depositors or charities will be insured by the Singapore Deposit Insurance Corporation Limited for up to the limit specified in the Act. For more information, click here.
On 16 October 2008, it was announced that the Singapore Government will offer protection under a guarantee of up to S$150 billion for all Singapore dollar and foreign currency deposits of individuals and non-bank customers in banks, finance companies and merchant banks licensed by the Monetary Authority of Singapore. This guarantee will remain in place until 31 December 2010. Media reports have stated that the Singapore Government guarantee does not cover structured deposits and pledged deposits. Accordingly, dual currency investments, structured deposits and deposits which are pledged, charged or secured as collateral are not covered by this guarantee.
With effect from 1 April 2010, your liability prior to debit card loss reporting will be capped at S$100 provided that you have not acted fraudulently, negligently or failed to report the card loss immediately. Click here for more details.
Next steps
Call us on 1800-HSBC NOW (4722 669) in Singapore or (65) 6-HSBC NOW (4722 669) from overseas
Highlights
