Kids Online Account Opening Promotion

As the saying goes, good habits start young. Teach your child the importance of saving with My Account. Simply start off by helping your child save regularly, and be rewarded with a S$20 Cash Gift!

Apply now


How to be rewarded:

Promotion period is from 2 March 2020 to 30 June 2020.

Please refer to the Terms & Conditions for more details.


My Account for your child

For existing POSB/DBS account holders, you can apply for a joint alternate My Account with your child online, if your child is below 16 years old and does not own an existing joint alternate My Account.

Apply now

Please prepare the following required documents prior to your application.


Save regularly without hassle

Set up a standing instruction via digiBank Online to automatically transfers a fixed amount from your DBS/POSB account to your child’s My Account on a regular basis.
Simply follow these few simple steps.

 

Frequently Asked Questions

My child has an existing My Account, can he/she be entitled for the promotion?

Child who already has an existing My Account will not be eligible for the Promotion.

Can I deposit the total amount of S$1,800 during the first month instead of depositing S$300 consecutively for 6 months?

No, customers are only eligible for the promotion if there is an incremental balance of S$300 in the newly opened account for the next 6 consecutive months.

Can I withdraw from the account during the 6 months?

No withdrawals are to be made from the newly opened account for at least a 6-month Period.

When will I receive the Cash Gift?

You will receive the Cash Gift as per the dates stated in the table below:

Account Opening Month Fulfilment Period
(Incremental balance of S$300 for 6-month Period)
Cash Gift Crediting Date Notification Date
Mar 20 Apr – Sep 20 By end Oct 20 By end Oct 20
Apr 20 May – Oct 20 By end Nov 20 By end Nov 20
May 20 Jun – Nov 20 By end Dec 20 By end Dec 20
Jun 20 Jul – Dec 20 By end Jan 21 By end Jan 21

Deposit Insurance Scheme
Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Retirement Sum Scheme are aggregated and separately insured up to S$75,000 for each depositor per Scheme member. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.

 

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