Quick answer: The best kids savings accounts in Singapore come down to what matters most to you. POSB and OCBC are rock-solid for families using the Baby Bonus CDA, while CIMB’s Junior Saver offers up to 2.70% p.a. interest – no lock-ins, damn shiok for growing that nest egg fast. UOB and Maybank add insurance extras, giving peace of mind. Standard Chartered and Citibank offer digital-first, no-fuss accounts if you want flexibility without the hassle. For a wider look, see Savings Accounts in Singapore.
Best Baby, Kids & Pets in Singapore holds 18 guides in this category, if you want to see what else is out there.
POSB
You don’t need an atas setup – POSB is like that reliable neighbour who’s been here forever. Their My Account needs no minimum balance and pays daily interest up to 0.05% p.a. For newborns, the Smiley CDA is where the magic happens: dollar-for-dollar government matching up to S$15,000, plus up to 2% interest on balances up to S$50,000. The Smart Buddy watch adds a fun touch – kids can make contactless payments and track steps. Bundle it with your own POSB account and you unlock merchant deals on health and toys.
Great for families who want a straightforward, government-backed start and a bank with branches everywhere.
1800 339 6666 / +65 6339 6666 (overseas) | Blk 712A Ang Mo Kio Ave 6 #01-4066, Singapore 561712 | Mon–Fri 8:30am–4pm, Sat 8:30am–12:30pm, Sun closed | POSB Website
While you’re here: Best Baby High Chairs in Singapore — for when the baby outgrows being held through dinner.
OCBC
OCBC takes the CDA and turns it up a notch. Their Child Development Account earns up to 2.40% p.a. interest, and when you link it to the Mighty Savers Account (for kids up to 16), saving at least S$50 a month without touching it gets you an extra 0.30% on your balance. There are discounts at over 14 premium merchants, free coin deposits (no need lugging bags of coins sian-ly), and Sunday banking for the weekend warriors. The app makes tracking a breeze.
Editorial round-up, not a directory listing. Missed someone worth knowing about? Send it our way.
Ideal if you want rewards for consistent saving and like having a bank that makes the whole process feel a bit more rewarding.
1800 363 3333 / +65 6363 3333 (overseas) | [email protected] | OCBC branches islandwide – use their branch locator | Mon–Fri 9:30am–4:30pm, Sat 9:30am–12pm, Sun closed | OCBC
UOB
UOB’s Junior Savers Account needs a S$500 deposit to start and pays up to 0.10% p.a. on bigger balances. But the real draw is the free insurance coverage – up to 100% of the account balance, so you can sleep better at night. Their CDA adds 2% p.a. interest with no cap, government matching, and at age 15 it smoothly converts to a regular account with a debit card. Perfect if you’re planning for that overseas study fund.
For parents who want insurance built in and a clear path from child to teen banking.
1800 222 2121 | [email protected] | UOB Plaza, 80 Raffles Place, Singapore 048624 | Mon–Fri 9:30am–4:30pm, Sat 9:30am–12:30pm, Sun closed | UOB
CIMB
CIMB is for the kiasu parents chasing serious returns. The Junior Saver Account for under-12s requires S$1,000 to open, but then it’s smooth sailing: up to 2.70% p.a. on the first S$50,000, no fall-below fees, no lock-ins. Open it online and you might snag a S$100 voucher. The tiered rates reward you for piling up savings, so it’s die die must try if you’re aiming for a chunky education fund.
Best for families who can meet the initial deposit and want the highest interest without being penalised for withdrawals.
+65 6333 7777 | [email protected] | CIMB Plaza, 30 Raffles Place #04-01, Singapore 048622 | Mon–Fri 9am–4:30pm, Sat 9am–1pm, Sun & PH closed | CIMB
Maybank
Maybank’s Youngstarz Account is a sweet deal for under-16s – open with just S$10, earn up to 0.38% p.a., and get free personal accident insurance that even covers common illnesses like hand, foot and mouth disease. The old-school passbook brings back a bit of nostalgia, and birthday privileges make it feel special. It’s a solid pick if you want that extra layer of protection for your little one.
For health-conscious parents who appreciate the passbook and insurance perks.
1800 629 2265 | Maybank Tower, 2 Battery Road, Singapore 049907 | Mon–Fri 10am–6:30pm, Sat & Sun closed | Maybank
Standard Chartered
Standard Chartered keeps things simple with the e$aver Kids Account – no initial deposit, no fall-below fees, and interest up to 0.15% p.a. on balances above S$200,000. It’s fully digital, so you can withdraw anytime, making it damn convenient if you’re often overseas or just hate queuing at branches.
For jet-setting families who want zero hassle and a bank with a global presence.
+65 6747 7000 | Marina Bay Financial Centre Tower 1, 8 Marina Blvd #01-01, Singapore 018981 | Mon–Fri 10am–5pm, Sat & Sun closed | Standard Chartered
Citibank
Citibank’s Junior Savings Account is all about grooming financial independence. For under-18s, it pays up to 0.10% p.a. on amounts above S$30,000, and from age 15 your child gets separate statements and an international ATM card to manage. It’s a good way to teach money sense without leaving Singapore.
Parents who want their teens to start banking smart and have global access.
+65 6224 5757 | Asia Square Tower 1, 8 Marina View #21-00, Singapore 018960 | Mon–Fri 9:30am–6pm, Sat & Sun closed | Citibank
How to choose
Start by asking what you’re really after. If you’re tapping the Baby Bonus, POSB, OCBC, and UOB all offer a CDA with government matching – compare the interest rates and extra goodies like insurance or merchant discounts. If raw interest growth is your goal, CIMB’s Junior Saver is hard to beat at 2.70% p.a., but you’ll need S$1,000 upfront. Maybank’s low S$10 entry and illness coverage might suit cautious parents, while Standard Chartered and Citibank keep everything light and digital, perfect if you rarely visit a branch. Fair price range: you can open with $0 at several banks, or up to $1,000 at CIMB; after that, consistent monthly savings matter more than a flashy rate for building the pot.
When comparing, look past the headline interest – check if there are fall-below fees, minimum monthly deposits to earn bonus interest, and whether the account can link to your own banking for extra perks. Also think about the long game: UOB auto-converts to a teen account at 15 with a debit card, while Citibank gives older kids controlled access earlier, which can be a steady way to let them learn.
| Bank | Account Name | Age Limit | Minimum Deposit | Interest Rate (p.a.) | Key Perks |
|---|---|---|---|---|---|
| POSB | My Account / Smiley CDA | My Account: all ages; CDA: newborns | $0 | My Account: up to 0.05%; CDA: up to 2% on first S$50k | Govt matching up to S$15k, Smart Buddy watch |
| OCBC | CDA / Mighty Savers | Up to 16 | $0 | CDA: up to 2.40%; Mighty Savers: bonus 0.30% with S$50 monthly save | Free coin deposits, Sunday banking, merchant discounts |
| UOB | Junior Savers / CDA | Under 16 | S$500 | Junior Savers: up to 0.10%; CDA: 2% | Free insurance up to 100% balance, auto-conversion at 15 |
| CIMB | Junior Saver | Under 12 | S$1,000 | Up to 2.70% on first S$50k | No fall-below fee, no lock-in, online voucher |
| Maybank | Youngstarz | Under 16 | S$10 | Up to 0.38% | Personal accident insurance, illness cover, passbook |
| Standard Chartered | e$aver Kids | Under 18 | $0 | Up to 0.15% on balances over S$200k | No fall-below fee, digital, anytime withdrawals |
| Citibank | Junior Savings | Under 18 | $0 | Up to 0.10% on balances over S$30k | Separate statements, ATM card at 15, global access |
Editorial round-up, not a directory listing. Missed someone worth knowing about? Send it our way.
Summary
From CDA-linked powerhouses to high-interest challengers, there’s a kids account for every family. Whichever you pick, starting early is half the win. For more options, browse our lists on Online Savings Accounts in Singapore and Savings Accounts with High Interest Rates in Singapore.
Disclaimer: Details like interest rates and perks can shift; double-confirm directly with the bank before opening an account.
Frequently asked questions
Can I open a kids savings account with no minimum deposit?
Yes, POSB My Account, OCBC Mighty Savers, Standard Chartered e$aver Kids, and Citibank Junior Savings all have no minimum deposit. Some may require a minimum balance to earn interest or avoid monthly fees.
Which kids account offers the highest interest rate?
CIMB Junior Saver offers up to 2.70% p.a. on the first S$50,000, the highest among these options. OCBC’s CDA gives up to 2.40% when linked with Mighty Savers, and POSB’s CDA up to 2%.
Is the Baby Bonus CDA only available at certain banks?
The CDA is offered by POSB, OCBC, and UOB in Singapore. You can open it with any of these, but you must choose one bank as the CDA trustee.
Do these accounts come with insurance coverage?
UOB Junior Savers includes free insurance up to 100% of the account balance. Maybank’s Youngstarz account covers personal accident and common childhood illnesses. Other accounts may not offer insurance.
Can my child access the account before age 16?
Typically, parents or guardians have full control until the child reaches the age specified by the bank. Citibank allows separate statements and an ATM card from age 15; other banks require guardian operation until 16 or 18.
Are there any fees if the balance drops below a certain amount?
Accounts like POSB My Account, CIMB Junior Saver, and Standard Chartered e$aver Kids have no fall-below fees. Others, like UOB Junior Savers, may have a minimum balance requirement (S$500) to avoid service charges. Always confirm with the bank.
