A friend of mine, Ms. Rica has a daughter who is 15 years of age. She wants her child to open a bank account and have a debit card for security purposes for her daughter. They want their daughter to know the value of money while she is in a minor age. I want to know if she can be qualified to open one.
Up Account allows for a base interest which is the basic interest that you will earn, just like with your normal savings account.This account will give you a base rate of 0.01% p.a. Step up interest is a unique component in addition to your base interest. This is innovatively designed to reward you more as you increase your savings with them
Citibank Step-Up Account / Citibank Singapore
As people’s lives grow more digital, it has only served to make it easier for hackers and cybercriminals to access more and more personal information and identity. They can open utility accounts, get a cell phone, or apply for a credit card, all using your name. Citi offers a free Identity Theft Solutions that can help you in the event that your identity is ever stolen. The service comes free with your Citibank Basic Banking Checking Account. Dealing with identity theft can be a massive pain, but Citi’s expert team can make it a little bit easier.
Citibank Basic Banking Account / Citibank Singapore
I like that with the Citibank MaxiSave account the first check book upon account opening will be issued upon request, at no charge.Subsequent check books however are automatically replenished at S$15 each. Also the free check imaging printed on monthly statements for easy monitoring and tracking
Citibank MaxiSave Account / Citibank Singapore
Maybank Passbook Savings Account is remarkably simple in terms of its interest rates structure, but has a few unique features when considering eligibility. To begin with, savings earn interest according to tiers within the balance. In other words, the first S$50,000 of a balance earns at 0.1875% p.a. interest, and any remaining balance beyond S$50,000 earns 0.25% p.a. In terms of eligibility, that may be a bit odd.
Maybank Passbook Savings Account / Maybank Singapore
This is a decent account for kid with ages 18 and below as there are no minimum deposit, fall below fee, monthly fee or lock-in period. However, as a parent you are required to pay $50 into the account by GIRO every month. The interest rates aren’t the best but they’re not that bad either as you recieve 0.1% interest on the first $50,000, 0.15% on amounts above $50,000 up to $200,000, and 0.25% on amounts above $200,000.
Standard Chartered e$aver Kids / Standard Chartered Bank Singapore
They allow eligibility for children aged 18 and below with a minimum initial deposit of S$1. With the HSBC Premier Lite Savings account as their first savings account, they will not only start saving early, but also receive a recognition card that offers worldwide emergency support wherever they may be. Apart from the exclusive HSBC Premier interest rates, you also have the convenience of accessing your account via the Global view facility, or through HSBC’s global ATM network and 24-hour Phone Banking Services.
HSBC Premier Lite / HSBC Bank Singapore
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Every parent always want their children to have an emergency money that they can easiliy access anytime they need it. One of those the easy accesses for them to send money to their children when away is through a debit card. But not every child can get an account or have a debit card from a bank they must be at least 16 years old to apply for a Debit Card.
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