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Jumpstart kv new
  1. Employee Banking
  2. Employee Banking JumpStart

JumpStart Account

A savings account for young adults aged between 18 and 26 years old  

JumpStart Account Benefits1

  • 0.40% p.a.

    on deposit balances up to $20,000

  • No fees

    and minimum deposit balance required

  • 1% p.a.

    cashback on eligible debit card spends

1 JumpStart Product Terms apply.


Additional benefits on your JumpStart account

Quick Application Process

Beat the queue and apply online. Enjoy an even simpler application process with MyInfo.

Banking Online or On The Go

Manage your money easily with our award-wining Online and Mobile Banking platform and get access to over 300 billing organisations. SC Mobile is available on the iPhone, iPad and Android mobile devices.

Convenient Withdrawals

Withdraw your cash easily from our extensive network of ATMs plus get access to cash at over 1000 merchants, including 7-Eleven, with our mobile banking app.

Mobile Payment

Easy to pay; add your debit card to Apple Pay, Google Pay™, or Samsung Pay.

Eligibility & Documents

ELIGIBILITY

  • To apply for a JumpStart account
    • You need to be between 18 and 26 years old

DOCUMENTS

  • To apply for a JumpStart account online with MyInfo

    For Singapore citizens and permanent residents, no documents are required

  • To apply for a JumpStart account at any of our branches, you need to have these documents ready

    Singapore citizens and permanent residents

    • Original Singapore NRIC

    Foreigners residing in Singapore

    • Passport
    • Valid student/long term/employment pass
    • Any of the following documents:
      • Last 3 months’ utility bill
      • Last 3 months’ bank statement
      • Telecommunications bill
      • Tenancy agreement
      • Government-issued documents stating address (e.g. IRAS, CPF, ICA)

JumpStart is a simple and high-interest savings account that offers 0.40% p.a. interest for account balances up to S$20,000, all year round.

No lock-in. No minimum spends. No requirement for salary-crediting.

You have the flexibility to access your funds anytime AND earn competitive interest rates.

It comes with a Cashback debit card with no monthly or annual fees.

To open a JumpStart Account, you must be between 18 and 26 years old at the time that you apply for the account.

You need to have a valid SingPass with a MyInfo Profile, a Singapore mobile number and email address to open the account.

You may continue to maintain the JumpStart Account after you turn 27 years old.  You will continue to receive prevailing interest on your JumpStart account balances.

You can only open one JumpStart Account.

You can open a JumpStart account in your name only.

You will receive prevailing interest on your JumpStart account balances. Prevailing interest will be credited to your JumpStart account at the end of each month.

You will earn 0.40% p.a. on your first S$20,000 account balance in your JumpStart account, and you will earn 0.10% p.a. on any incremental balances above S$20,000 in your JumpStart account.

There is no cap to the amount of interest that you can receive on the balances in your JumpStart account.

Your interest will be reflected in your eStatement, Online Banking and Mobile Banking transaction history as “CR INTEREST”. Interest is credited into your JumpStart Account at the end of each month.

If you close your JumpStart Account before the end of the month, prevailing interest will be paid up to the day before account closure.

There is NO minimum deposit requirement.

There is NO monthly fee.

There is NO fall-below fee.

No, there is no annual fee for the Cashback debit card.

You will receive your Cashback debit card 5 to 7 working days from the opening date of your JumpStart savings account.

1% cashback on qualifying Mastercard transactions on the Cashback debit card. Monthly cashback is capped at S$60 per account (which is linked as the primary account to the Cashback debit card). Cashback is calculated at the end of each calendar month, based on transaction posting date. Cashback for debit card spends will be credited on the first working day of the following month. Refer to JumpStart Account Product Terms for the qualifying transactions and excluded transactions.

For details, please click here.
For details, please click here.

Deposit Insurance Scheme

Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.

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