Singapore Dollar Savings Account

Benefits and features of savings accounts

Tiered daily interest with higher interest for balances above S$50,000
Personalised debit card
PhoneBanking and Internet Banking services

If all you want to do is keep your money safely, you can achieve just that with HSBC Savings Account*. To keep you updated of your monthly account transactions and interest earned, a comprehensive statement will be mailed to you. What's more, with your free debit card, PhoneBanking services and Internet Banking, you can carry out a wide range of banking transactions, 24 hours a day, 7 days a week.

Eligibility

Individuals (residents/non-residents) aged 16 and above.
Trust accounts will be opened for individuals below 16 years old, in the parent's/guardian's name.
Minimum initial deposit of S$1,000.

Savings account fees

Minimum balance fee of S$5 if average daily balance falls below S$2,000.
Closure fee of S$50 if account closed within 6 months from opening date.

Required documents

Identity Card/Passport
Proof of Address

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

Terms and conditions governing personal deposit accounts

* A minimum deposit of S$500 is required to open a savings account. You can open a basic bank account, which requires a minimum initial deposit of S$10 if you are a Singapore citizen or Permanent Resident earning a monthly income below S$2,000.

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.