- At the time of Nationalisation (1969)
- Savings Bank accounts can be opened by individuals either singly or in joint names
- Savings Bank account can be opened in SGD and USD
- Photo Copies of Passport / IC / Employment Pass to be submitted. Original documents should be shown at the time
of verification
- Minimum deposit of S$ 500/- for opening Savings Bank account in SGD and USD $ 500 for opening Savings Bank
account in USD
- Minimum balance of SGD $100/- and/or USD $100/- should be maintained
- Interest is paid half yearly in the months of June/December at prevailing rate
- Cash Withdrawal by way of a cash withdrawal form
- If Minimum Balance is not maintained, Bank has the discretion to close the a/c and refund the balance after deducting
our service charges
- Savings Bank account should be strictly maintained as personal account and not for business transactions
- Customers to advise change of address promptly.
- Notification to customers will be by post and the last given address will be deemed to be the actual address.
- Customers have to keep track of their accounts and make sure deposits or withdrawals are made periodically once
every three months at least in order to keep account operative. Charges will be levied to keep account operative once
account becomes inactive.
- For closing an account there will be a fee of SGD10/-
- Bank reserves the right to recover or adjust any incorrect entry to account.
- Customers are requested to check all entries in passbook and will be deemed to be correct if not notified within 14 days.
- For USD accounts, deposits in USD will be subjected to lieu of exchange of 1% and withdrawal in US Dollars depends on
the availability of US Dollars with bank.
- Cheques can be deposited into these accounts for local clearing / foreign collection.
|
