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Anonymous
Is there a minimum sum needed when opening the SCB Jumpstart account? Is it possible to open the account without putting any money inside?
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Gabriel
20 Mar 2020
Undergraduate at National University of Singapore
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Rais M
08 Mar 2020
Accountant at SME
Yes you can open to capitalise on the age limit. However, even though there is no minimum deposit required and no fall-below fee, I would suggest to park at least some money into the account to prevent any situations where the bank would want to close your account due to zero balance after x number of months.
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Andy Sim
08 Mar 2020
HR Professional at a Financial Institution
Yep you can, there's no min balance required for any fall below fee. So open it while you still can ...
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Hey Anon, yea you should seize the opportunity and open the account since the interest of 2% p.a is said to continue even after your pass the age of 26. Besides, there's no minimum balance, deposit or other fees. Just ensure to there's some form of transactional activity since most banks will automatically close your account if it's inactive for 6 months.