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Anonymous
What are the best savings accounts for students? Is SCB Jumpstart really the best for those under 26?
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Gabriel
20 Mar 2020
Undergraduate at National University of Singapore
Hey Anon, the SCB Jumpstart account is the best savings account for youngsters in my opinion as it offers 2% interest p.a with no other conditions such as salary crediting and minimum deposit/balance/spending. It works like any other bank and is also insured under the SDIC for deposits up to $75k. I've been using it since it was introduced and I have no complains nor regrets. It is both a good account for your salary and savings as well as easy to transfer funds to other banks.
On a personal note, I've moved all of my funds over to JumpStart from DBS (which I've been using for many years) and it is now my main account on a daily basis for my expenses etc. The iBanking platform, both website and mobile is also very user-friendly, looks aesthetically pleasing and gets the job done! Honestly, I think it is on par or maybe even better than DBS.
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SCB Jumpstart is a good account for your situation. It should come with internet banking, if not you should request for it, and performing transaction into other bank account's shouldn't be an issue.
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Yes, SCB jumpstart is a high yield saving account at 2%pa, and its easy to transfer to any banks in Singapore as long as you have the online banking account.
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Pang Zhe Liang
09 Mar 2020
Fee-Based Financial Advisory Manager at Financial Alliance Pte Ltd (IFA Firm)
Yes, it is a good account for the start. This is because it gives an interest rate of 2% per annum f...
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