- SINGAPORE
Unlocking The Top Kids Savings Accounts In Singapore: Maximizing Benefits For Your Child’s Financial Future
Start Your Kids On Their Financial Literacy Journey
It is never too early to start saving for your kids. Gone are the days where kids are expected to drop coins in their piggy banks. With the effect of compounding interest associated with putting money in a savings account, it can help to magnify the returns of your hard-earned savings for your kids. This can eventually go a long way in financing their education or perhaps wedding dowry. Here are some of the best kids savings accounts in Singapore to help you stretch that dollar!
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UOB JUNIOR SAVINGS ACCOUNT *Best Kids Savings Accounts In Singapore
Suitable For Children Aged 16 & BelowThe UOB Junior Savings Account is one of those accounts that grow with your child. With a minimum of SG$500, you can open a joint account with your kid and enjoy free insurance coverage of up to 100% of the account balance. In addition to the free insurance coverage, you can enjoy daily interest on the balance in the savings account. Once your child turns 15, the account can be converted into a regular savings account - giving your child a head start on their savings!
UOB Junior Savings Account, www.uob.com.sg/personal/save/kids-accounts/junior-savers-account.page
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OCBC MIGHTY SAVERS KIDS ACCOUNT *Best Kids Savings Accounts In Singapore
Open A Savings Account With Just SG$50!Teach your child the importance of savings with OCBC Mighty Savers Kids Account. All you need is just SG$50 to open the account. OCBC Mighty Savers Kids Account also allows you to enjoy higher interest rates on top of the base interest of 0.05% by saving at least SG$50 a month with no withdrawals! Earn up to 0.30% on the entire Mighty Savers balance! This account is ideal for any kids aged 16 and below.
OCBC Mighty Savers Kids Account, www.ocbc.com/personal-banking/deposits/mighty-savers-child-savings-account
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CIMB JUNIOR SAVER ACCOUNT *Best Kids Savings Accounts In Singapore
Highly Competitive Interest RatesThe CIMB Junior Saver Account offers one of the most competitive interest rates when it comes to kids saving accounts. Ideal for kids aged 12 and below, enjoy a base interest rate of 0.20% for the first sg$200,000 and 0.40% for the next SG$800,000 On top of the attractive interest rates, you get to enjoy attractive discounts, promotions and invitations to exclusive events from time to time!
CIMB Junior Saver Account,www.cimb.com.sg/en/personal/banking-with-us/accounts/savings-accounts/cimb-junior-saver-account.html
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MAYBANK YOUNGSTARZ ACCOUNT *Best Kids Savings Accounts In Singapore
SG$10 Is All You Need To Open An Account!With just SG$10, you can open a passbook savings account for your child or teen under 16 years old! Benefits of this savings account include exclusive birthday privileges during your child's birthday month as well as free accident insurance for you and your child. It also covers hospitalization and outpatient insurance for hand, foot and mouth disease, which occurs frequently among young kids.
Maybank Youngstarz Account, www.maybank2u.com.sg/en/personal/accounts/savings/Youngstarz-Account.page
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POSB MY ACCOUNT *Best Kids Savings Accounts In Singapore
Exclusive Perks For KidsPOSB My Account offers one of the most attractive perks when it comes to savings accounts, with no minimum balance and age - it is an account that grows with your kid! The account comes with a SG$1 gift deposit upon opening, with no minimum deposit required! Earn daily interest of up to 0.05% on the account balance!
POSB My Account, www.posb.com.sg/personal/deposits/savings-accounts/my-account-kids
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STANDARD CHARTERED E$AVERS KIDS *Best Kids Savings Accounts In Singapore
Suitable For Kids Up To 18 Years OldThe Standard Chartered e$avers Kids is another attractive savings account with no minimum initial deposit required and no fall-below fee. The best part of there is no lock-in period, which means that you have the flexibility to withdraw funds anytime when you need!
Standard Chartered e$avers Kids, www.sc.com/sg/save/savings-accounts/esaver-kids/
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CITIBANK JUNIOR SAVINGS ACCOUNT *Best Kids Savings Accounts In Singapore
Easy Tracking Of Funds On ATMS & Online BankingOnline banking is all the rage these days and there is no better way to start them off than with Citibank's Junior Savings Account! The account offers a separate monthly statement to facilitate ease of funds tracking. Once your child turns 15 years of age, that's when you and him/her can start accessing the account conveniently through online banking!
Citibank Junior Savings Account, www.citibank.com.sg/personal-banking/deposits/savings-account/children-savings-account/
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ICBC ELITE KIDS ACCOUNT *Best Kids Savings Accounts In Singapore
Ideal For Kids Under 16 Years OldThe ICBC Elite Kids Account is also another kids saving account that offers fairly competitive interest rates for kids under 16 years of age. Enjoy an interest rate of 0.10% and an additional bonus interest rate of 0.10% with a minimum increment of SG$500 increment in the daily average balance compared to the previous month.
ICBC Elite Kids Account, www.icbc.com.sg/en/column/1438059017468788808.html
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POSB Smiley Child Development Account *Best Kids Savings Accounts In Singapore
Attractive Interests Rates & Exclusive Merchant DealsThe POSB Smiley Child Development Account (CDA) is a special savings account for your newborn, with dollar-for-dollar matching from the government. You also get to enjoy attractive interest rates of up to 2.0% for up to SG$50K! Aside from that, you can also enjoy exclusive merchant deals across health and toys categories as well as bundle your child's CDA account with their savings account for more perks!
POSB Smiley Child Development Account, www.posb.com.sg/personal/deposits/savings-accounts/child-development-account
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OCBC CHILD DEVELOPMENT ACCOUNT *Best Kids Savings Accounts In Singapore
Unique Merchant Privileges On Top Of Competitive Interest RatesThe OCBC Child Development Account is another kids saving account that is part of the Baby Bonus Scheme. Enjoy up to 2.40% interest per year and up to 50% discount at over 14 merchants! You can also link this account to the OCBC Mighty Savers Account to enjoy higher interest rate of 0.30%.
OCBC Child Development Account, www.ocbc.com/personal-banking/deposits/child-development-account
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