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Singapore Dollar 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 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
* A minimum deposit of S$1,000 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.
Next steps
Call us on 1800-HSBC NOW (4722 669) in Singapore or (65) 6-HSBC NOW (4722 669) from overseas
Highlights
