Can foreigner open POSB bank account in Singapore?
Online account application is only available for Singaporeans, Permanent Residents and Foreigners with valid Singapore work pass (e.g. employment / S pass) or student pass.
How much do I need to open a POSB account?
“How much to open a POSB savings account” is a popular question you might have. Most of the accounts don’t require any minimum amount to open but you need to take note that some accounts do charge a fall-below fee. So, keep a minimum balance of $500 in your POSB savings account after the account is opened.
How do I open a POSB bank account?
How to apply for digibank?
- Download the digibank Mobile app from the App Store, Google Play or AppGallery.
- Launch the digibank Mobile app and tap on More.
- Under Apply, tap on New to digibank.
- Select your Identity Type, key in your Identity Number and input your Date of birth, click on Next.
How can a foreigner open a bank account in Singapore?
To open a bank account as a foreigner in Singapore you’ll need:
- Proof of Identity (Passport or ID card)
- Proof of Address (Utility bills, etc.)
- Employment Visa, S Pass, or Student Visa.
Can a 16 year old open a bank account without parents in Singapore?
What is the minimum age to open a bank account in Singapore. One can open a time deposit or current account in Singapore at the age of 18 years old. However , you may also open a savings account at the age of 15 years. Parents or kids guardians are also allowed to open accounts on behalf of those aged below 18.
How much do I need to open a bank account in Singapore?
Compare a range of banks accounts in Singapore
|Name||Monthly fee||Minimum Initial Deposit|
|OCBC Basic current account||S$0||S$1,000|
|Citibank Tap and Save Account||S$0||S$15,000|
Can I open a bank account with no money?
The short answer is yes. You don’t need a deposit to open a bank account, if you choose a bank that doesn’t require one. A handful of online-only banks and banks with online banking do not require a deposit.
Can I open 2 POSB accounts?
Yes, you may visit any DBS/POSB branch if you would like to add a joint person to convert the personal account into a joint account.
What is the minimum amount to open a DBS savings account?
|Account Type||Minimum Average Daily Balance (MADB)||Service Charge|
|DBS Savings Account (Opened before 12 September 2011)||S$500||S$2.00 per month|
|DBS Savings Account (Opened from 12 September 2011)||S$1,000||S$2.00 per month|
|DBS Multiplier Account*||S$3,000||S$5.00 per month|
Which bank has no minimum balance?
Latest Interest Rate for Zero Balance Savings Account
|Bank||Name of zero-balance savings account||Interest rate|
|Kotak Mahindra Bank||811||4% to 6%|
|Standard Chartered Bank||Basic Banking Account||0.5% to 4.90%|
|HDFC Bank||Basic Savings Bank Deposit Account||3.50% to 4%|
|Axis Bank||Basic Savings Account||3.50% to 4%|