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Singapore Dollar Savings Account

A simple and convenient way to save

What's new

As part of our annual review of our existing products, please note that with effect from 1 Mar 2012, Savings RE Account 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).

 

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.

Find out more

Eligibility

  • Individuals (residents/non-residents) aged 16 and above.
  • 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

Act now

 

 

* 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

Premature withdrawal of any Time Deposit is subject to the Terms and Conditions Governing Personal Deposit Accounts. Effective 1 September 2011, premature withdrawal charges will be imposed on premature withdrawal of Time Deposits prior to maturity. For all premature withdrawal of Time Deposits, interest payments (if any) will be calculated at the Bank's discretion. Customers should note that they may receive an amount less than the original Time Deposit placement amount upon premature withdrawal for their Foreign Currency Time Deposits. Currently, for Singapore Dollar Time Deposits, customers will receive not less than their original placement amount upon premature withdrawal.

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.

Deposit Insurance Scheme
Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.