paradox Dec 2022 AD Singapore

Family Life

Best Kids Savings Accounts In Singapore To Set Up For Your Child

For The Little Bankers & Financiers!

Top Kids Savings Accounts In Singapore

Getting kids to start saving early and being mindful of their money is important. After all, it’s more than just putting coins into a piggy bank! To help you and your little one embark on your savings journey, many banks offer various kids’ savings accounts for you to choose from. We’ve narrowed down the best options available so you can kickstart your kids’ financial future!

  • UOB Junior Savings Account For Kids In Singapore

    UOB JUNIOR SAVERS ACCOUNT: Kids Savings Account In Singapore

    Until 16 years old

    Parents can open a UOB Junior Savers joint account with kids aged 16 and below, with a minimum initial deposit of S$500 to start things off. The account will need a minimum deposit of S$500 though, with a 0.05% interest rate p.a. Once they’re all grown up at 16 years old, the account will automatically convert to a regular savings account so they’ll get a headstart for adulthood!

    UOB Junior Savers Account,


    UOB CHILD DEVELOPMENT ACCOUNT: Kids Savings Account In Singapore

    Until 12 years old

    A Child Development Account (CDA) is a government-initiated bank account to help with baby expenses. Opening one with UOB will provide an initial S$3,000 grant, and you’ll get interest of 1% p.a. for the first S$25,000, 2% p.a. for the next S$25,000 and 0.05% p.a. for anything above S$50,000. Take note that the account can only be open until your kiddo turns 12 years old, with the savings only applicable for spending on educational and health purposes.

    UOB Child Development Account,

  • OCBC MIGHTY SAVERS KIDS ACCOUNT: Kids Savings Account In Singapore

    OCBC MIGHTY SAVERS KIDS ACCOUNT: Kids Savings Account In Singapore

    Until 16 years old

    All you need to do is put SG$50 in your child’s OCBC Mighty Savers Kids Account to enjoy a 0.05% interest to set a good example for your little one. But don’t withdraw any money to get an additional 0.05% and opt to link it up with a OCBC Child Development Account to get another 1%, resulting in a total 2% interest p.a. to make the savings grow even more!

    OCBC Mighty Savers Kids Account,

  • CIMB JUNIOR SAVER ACCOUNT: Kids Savings Account In Singapore

    CIMB JUNIOR SAVER ACCOUNT: Kids Savings Account In Singapore

    Until 12 years old

    For a more competitive interest rate, the CIMB Junior Saver Account offers higher interests of 0.3% p.a. for the first SG$200,000, 0.5% p.a. for the next SG$800,000 and 0.3% for anything above $1,000,000. The best part? There are no fall-below fees to maintain the account, and you can set up the account online within 10 minutes to get started – it’s super convenient!

    CIMB Junior Saver Account,


    CITIBANK JUNIOR SAVINGS ACCOUNT: Kids Savings Account In Singapore

    Until 18 years old

    Before your little one grows up and turns of legal age, a Citibank Junior Savings Account will help introduce them to their financial journey. Interest rates are 0.05% p.a. for the first SG$30,000 and 1% for everything above. To get them acquainted with personal banking, kids will also receive their first ATM card and access to online banking from 15 years old, so they can take charge of their own money!

    Citibank Junior Savings Account,


    HSBC PREMIER LITE SAVINGS: Kids Savings Account In Singapore

    Until 18 years old

    Since kids are not likely to have a lot of money when they’re young, a HSBC Premier Lite Savings account will be suitable for them. Parents who have an existing HSBC Premier account will be able to open the account, and let it reap the benefits of an interest rate up to 1.85% p.a. As a bonus, HSBC also has 24-hour phone banking services and global support so you can get help any time, anywhere.

    HSBC Premier Lite Savings,

  • Maybank Youngstarz Savings Account For Kids In Singapore

    MAYBANK YOUNGSTARZ ACCOUNT: Kids Savings Account In Singapore

    Until 16 years old

    S$10 is all you need to open a Maybank Youngstarz Account for your little one! With interest rates of 0.1875% p.a. for the first S$3,000, 0.3125% p.a. on the next S47,000 and 0.3750% p.a. for anything above S$50,000, it’s one of the most competitive accounts available too. You and your kiddo will also enjoy many benefits, such as Popular bookstore vouchers with a minimum S$6,000 deposit and exclusive birthday privileges like discounts at kid activity places and free ice cream!

    Maybank Youngstarz Account,


    STANDARD CHARTERED E$AVER KIDS: Kids Savings Account In Singapore

    Until 18 years old

    If flexibility is what you’re looking for, the Standard Chartered eSaver Kids account is for you and your family. There is no minimum initial deposit, minimum average daily balance, fall-below fee or even early account closure fee! The only catch? Parents will need to GIRO a monthly deposit of at least SG$50 into the account, ensuring that the account will continue to grow. Interest rates start from 0.1% for the first SG$50,000, 0.15% above S$50,000 and 0.25% for amounts above S$200,000.

    Standard Chartered E$aver Kids,


    POSB MY ACCOUNT: Kids Savings Account In Singapore

    Until 16 years old

    Consider opening a POSB My Account for your little one, which works as a joint account where you can help them grow their finances. There’s up to 3.8% interest p.a. but that’s not all – all kids will also get a complimentary Popular bookstore 1-year student membership to enjoy discounts on books and stationery! The POSB Smart Buddy feature will also come in useful to automatically save their pocket money and teach them the importance of saving.

    POSB My Account,


    POSB SMILEY CDA: Kids Savings Account In Singapore

    Until 12 years old

    If you’ve got a new bundle of joy, the POSB Smiley CDA is perfect for them! The first S$10,000 will reap 1% p.a., next S$40,000 2% p.a. and anything above S$50,000 will get 0.05% p.a. Don’t forget, the government will also assist every family with an initial S$3,000 deposit. Deal-hunting parents, you’ll also get exclusive deals with the Baby Bonus NETS card, like discounts on family restaurants and baby toy stores!

    POSB Smiley CDA,

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