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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.
- 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 and Policy Owners’ Protection Schemes Act 2011 (the “Act”), Singapore dollar denominated deposits with The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch (“HSBC”) held by a non-bank depositor (“Insured Depositor”) will be insured by the Singapore Deposit Insurance Corporation Limited or such other company as may be designated as the deposit insurance and policy owners’ protection agency for the purposes of the Act (the “Agency”), for up to S$50,000 per Insured Depositor, or such other limit as may be specified in the Act.
In addition, Singapore dollar denominated deposits:
(i) with HSBC which are held by an Insured Depositor, as trustee under a trust account, or held on trust in a client account, will be insured by the Agency for up to S$50,000 per account, or such other limit as may be specified in the Act; and
(ii) placed with HSBC by an Insured Depositor under the Central Provident Fund Investment Scheme and/or the Central Provident Fund Minimum Sum Scheme will be insured for up to S$50,000 per Insured Depositor, or such other limit as may be specified in the Act.
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.
Next steps
Call us on 1800-HSBC NOW (4722 669) in Singapore or (65) 6-HSBC NOW (4722 669) from overseas
Highlights
