e$aver Kids!
Now there’s a smarter way to save for your kids. It’s e$aver Kids! – the only savings account for kids that earns high interest rates. Read more about it here.
At a glance
- Trust account where you’ll maintain complete control
- High interest rates
- Minimum deposit of $50 every month to help your savings grow
- No lock-in period
- No monthly fees
- No minimum balance
- No statements to file and no passbook or ATM card to lose
Account Features
| Benefits |
|
Account Opening Requirements
- Trustee to complete e$aver Kids! Trust Account Opening Form
- Trustee to sign Declaration of Trust
- Trustee to submit NRIC/Passport of Trustee of which a copy will be retained.
- Trustee to submit the Birth Certificate of Beneficiary of which a copy will be retained
- Trustee must complete a GIRO or Standing Instruction Application Form for monthly deposits of at least S$50 into account (must be from bank account in Trustee’s name)
Eligibility
- Trustee (Parents) must be 21 years old and above
- Beneficiary (Child) must be below 21 years old
- Singaporeans, Permanent Residents or Foreigners
Note: Only 1 Trustee (main account holder) and 1 Beneficiary are permitted under the account.
Key Charges
| Service | Charges |
| Minimum initial deposit | S$0 (Note: Trustee must complete a GIRO / Standing Instruction Form for monthly deposit of minimum S$50 into the e$aver Kids! account) |
| Minimum average daily balance | S$0 (Note: If account is in $0 balance for 5 consecutive months, it will be closed automatically) |
| Fall-below fee | S$0 |
| Early account closure fee (within 6 months) | S$0 |
For more information, please call our 24-hour Phone Banking on 1800 747 7000 or click on My Request to schedule an appointment to open an account at one of our 18 branches.
Important Note:
- Only the Trustee can operate the account and instruct the Bank to close the account and issue payment to either the Trustee or the Beneficiary.
- Trustee cannot use the account to place Fixed Deposits online, open other transactional accounts online or make bill payments online (including credit card bills).
- Trustee cannot link the account to his/her other Standard Chartered deposit accounts’ ATM cards or Standard Chartered credit cards.
- The account has no maturity date such that once the Beneficiary turns 21 years old, the Trustee and the Beneficiary can jointly instruct the Bank to convert the account into a Joint/Or e$aver account (whereby the Beneficiary will be the joint account holder) or an individual e$aver account in the Beneficiary’s name.
- Cash withdrawals at branch counters will incur a S$5 service charge.
- Any Singapore dollar deposits held by non-bank depositors in eligible savings, fixed deposit and current accounts will be insured up to S$50,000 per depositor in accordance with the Deposit Insurance And Policy Owners' Protection Schemes Act.