Monthly Savings Account - OCBC Singapore

Monthly Savings Account

Save monthly to earn higher interest

Start from as low as
S$50 monthly

Eligibility

Singaporeans, Permanent Residents, or Foreigners residing in Singapore aged 16 and above
Apply online

Save monthly to
earn higher interest

Start from as low as
S$50 monthly

Eligibility

Singaporeans, Permanent Residents, or Foreigners residing in Singapore aged 16 and above

Earn higher interest when you save regularly

Save with OCBC Monthly Savings Account (MSA) to earn interest of up to 0.40% per year. Set aside as low as S$50 through monthly contribution instruction using GIRO or Online Banking.

Chart 1
CDA

Exclusively for OCBC Child Development Account Holders

Earn up to 0.80% per year when you save regularly for your child with the additional CDA Advantage Bonus Interest of 0.40% per year.
*Not applicable to new accounts opened from 2 May 2018.

More details

Interest rate for OCBC CDA Holders

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Note: To enjoy the additional 0.40% per year CDA Advantage Bonus Interest, the account must be jointly held with your child. This exclusive bonus interest is applicable for up to two accounts.

What you need to know

Minimum Age
  • 16 years old
  • Nationality Singaporeans, Permanent Residents and Foreigners residing in Singapore
    Initial Deposit S$0
    Minimum average daily balance for the month S$500
    Fall below fee S$2 (Waived for first year)
    Monthly statements e-Statement

    Open your first OCBC Monthly Savings Account and get $20 cash reward.
    Promotion is valid for Singaporeans and PR who open an OCBC account from 1 August - 31 December 2019.
    Limited to the first 600 customers per month.
    Apply online instantly

    Apply online with MyInfo

    (For Singaporeans and Singapore PRs only)

    Account is opened immediately with MyInfo

    Branch icon

    At any branch

    Visit any branch near you. Account is opened immediately.

    What to bring

    1. For Singaporeans and Permanent Residents:
      • NRIC

      For Foreigners:

      • Passport
      • Employment Pass (EP); or S-Pass
    2. Additional documents
      Include any one of the following documents:
      • Phone bill
      • Half-yearly CPF statement
      • Any bank statement

    NEW
    Get a queue number before visiting the branch via Easy Q!

    NEW
    Get a queue number before visiting the branch via Easy Q!

    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.