20 Mar 2020
What are the best savings accounts for students? Is SCB Jumpstart really the best for those under 26?
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.
SCB Jumpstart is a good account for your situation. It should come with internet banking, if not you...
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Standard Chartered JumpStart Account
Up to 1% p.a.
MIN. INITIAL DEPOSIT
MIN. AVG DAILY BALANCE
DBS Multiplier Account
OCBC FRANK Account