How to open an account as a Singapore citizen/PR?
Use your Singpass to verify identity via our app or website. Fill in basic details, upload a selfie, and your account is usually opened within 5 minutes. You will receive a digital account number immediately, and the physical debit card arrives in 3 business days.
Can foreigners open a Singapore Bank account?
Absolutely. Foreigners can apply with a valid passport, employment pass (EP), or student pass. You will also need proof of overseas residential address (e.g., utility bill). Once approved, you get full access to multi‑currency accounts and remittance services. Non‑resident accounts have the same digital features but may have slightly different fee structures.
What is the minimum balance for savings accounts?
Our basic Save account has zero minimum balance and no fall‑below fee. For higher‑interest accounts like SavePlus, you need to maintain SGD 3,000 to earn bonus interest, but no fee is charged if the balance drops – you just don’t earn the bonus for that month.
How do I perform a FAST transfer?
Log in to the app, select 'Transfer', choose 'FAST', enter recipient's mobile number or bank account. Funds arrive within seconds, 24/7 including weekends and public holidays. Maximum FAST limit is SGD 250,000 per transaction (default lower limit can be increased via app with 2FA).
What is PayNow and how do I register?
PayNow links your mobile number or NRIC/FIN to your bank account. In the app, go to 'PayNow Profile' and register your details. Then anyone can pay you using just your mobile number – no need to share account number. Businesses can register a VPA (Unique Entity Number) for corporate PayNow.
Does Singapore Bank support Apple Pay / Google Pay?
Yes, all our Visa and Mastercard credit/debit cards are compatible. Add your card to Apple Wallet or Google Pay and tap to pay at any contactless terminal. You can also withdraw cash from selected ATMs using your phone.
What are the interest rates for fixed deposits?
Fixed deposit rates vary with market conditions. Currently, 6‑month SGD fixed deposit offers 3.2% p.a., 12‑month offers 3.4% p.a. (promotional rates for fresh funds). We also offer dual‑currency deposits and step‑up deposits that allow you to increase rate if interest rates rise.
How to apply for a credit card?
Eligible applicants (annual income ≥ SGD 30,000 for Singaporeans/PR, SGD 45,000 for foreigners) can apply via the app in under 3 minutes. Upload income docs (payslips/income tax assessment) if required. Many cards are approved instantly and you can start using a virtual card immediately via Apple Pay/Google Pay.
What insurance products are available?
We offer a full suite: travel insurance with COVID‑19 coverage, integrated shield plans for hospitalization, mortgage‑reducing term insurance, and investment‑linked policies. All policies are underwritten by leading insurers like AIA, Prudential, and Great Eastern, but purchased and managed through your Singapore Bank app.
How do I block a lost card?
Immediately via the app: go to 'Cards', select the lost card and tap 'Block Card'. You can also call our 24/7 hotline. A replacement card is issued free and delivered within 2 working days. While waiting, you can use Google Pay with the virtual card if you had previously added it.
Are there any foreign transaction fees?
For debit cards, there is a 1.5% fee on transactions in non‑SGD currencies. Credit cards have no foreign transaction fee on our Travel Elite card; other cards charge 2.5% but this is partly offset by higher miles/cashback on foreign spend. We also offer a multi‑currency account where you can pre‑load 10 currencies and spend like a local with zero conversion fees.
What makes Singapore Bank different from other local banks?
We combine the agility of a digital bank with the reliability of a full‑service institution. Our products are designed with customer feedback – no hidden fees, transparent pricing, and human support when you need it. We also actively support green financing and financial literacy programs in schools. Being slightly smaller allows us to innovate faster; for example, we were the first to launch real‑time cross‑border transfers to Malaysia and Indonesia.
