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There is no limit to the amount you can invest and additional deposits can be made anytime. However, a monthly service charge will apply if your average balance falls below the amount stipulated above.
Daily interest at attractive rates
Interest on your Foreign Currency Savings Account is calculated daily on the balance in your account and paid monthly. This means that the bank pay you interest on the interest you have already earned. The interest earned is based on prevailing market rates, which may vary from time to time. The prevailing rates are displayed at all our branches, or you can call our Personal Banking Officers for information.
Tax free
For non residents, interest earned is not subject to Singapore withholding tax or income tax.**
Easy-to-read statement
For your convenience, a monthly statement detailing your transactions will be sent to you. If you wish, we can send your statement by air, at no extra cost.
Deposits and withdrawals of funds
Funds can be deposited or withdrawn at the bank branches in Singapore by remittance, cheque, draft, or foreign currency notes. A commission will be charged for cash deposits or withdrawals in foreign currency notes to cover the cost of obtaining and holding these notes, or repatriating surplus notes held.
Advance notice is required if you intend to make large cash withdrawals in foreign currency notes as this depends on the availability of the currency at the Bank.
24-hour banking convenience with an Automated Teller Machine (ATM) card
With your free ATM card, you can access your accounts via the Bank Group's ATM network worldwide, 24 hours a day, seven days a week.
The ease and convenience of PhoneBanking Services
With PhoneBanking Services, you can conduct your transactions 24 hours a day, seven days a week - wherever you are. With any touch-tone telephone you can check your account balance make third party payments (such as cashier's orders, demand drafts, telegraphic transfers) set up new time deposit accounts and many more services
Internet Banking
Our Internet banking service brings you closer to your accounts.
You can do your banking when and where it suits you and manage your money safely, quickly and effectively. It is fast, convenient, secure, easy to use and available 24 hours a day, seven days a week, all year round*.
Account Closure Fees
If the bank account is closed within 6 months of opening, the bank will charge US$40 or equivalent for account closure fees.
*Some transactions made outside working (or specific) hours will be processed the next working day.
** Singapore residents and Singapore citizen are subject to income tax on interest earned.
Documents Required by the Bank:
2 copies of the biographic pages of your passport duly authenticated AND verified by a staff of this bank.
Minimum Age Requirement: 21 years old.
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