Can a student open a CDP account? Or wait till I graduate and have an actual job? - Seedly

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Asked by Anonymous

Asked on 03 Aug 2018

Can a student open a CDP account? Or wait till I graduate and have an actual job?

Looking at the required documents needs, both my CPF and Tax statements does not amounts much, while my bank statement amounts to about 5k. Will my application be rejected? Or should I wait till I get an actual job? Planning to start investing in SSB with $500 for now, and more when I start to graduate in about 8 months time.

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Adrian Goh Jun Wei
Adrian Goh Jun Wei, Product at Nodeflair
Level 4. Prodigy
Answered on 04 Aug 2018

Yes you can! According to my friend, if you are an NTU student, you can open one through OCBC in North Spine :)

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Jay Liu
Jay Liu, Diploma in Accountancy at KHEA
Level 6. Master
Answered on 04 Aug 2018

As long as you're above 18 you can apply for a CDP account.

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Marcus Goh
Marcus Goh
Level 3. Wonderkid
Answered on 04 Aug 2018

As long as you are above 18, you can open a CDP account to start on investing SSB. I would encourage you to open a brokerage account too as they can help you open both brokerage and CDP account together to save time and hassle in case in the future you would like to invest or trade in the financial markets.

Here is the link from Seedly for the different brokerages in terms of fees and reviews:

https://blog.seedly.sg/the-ultimate-cheatsheet-cheapest-stock-brokerage-in-singapore/

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Age above 18 and you can open a CDP account for free.

If the account is for buying SSB, rmr to link the CDP account to your main Saving/Active Bank account so when you Buy from ATM there wun be an issue.

Hope this helps.

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Yong Kah Hwee
Yong Kah Hwee
Level 6. Master
Answered on 17 Sep 2018

Yes you can! It takes a few weeks for the process to finish so you should consider opening it early!

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HC Tang
HC Tang, Financial Enthusiast, Budgeting at The Society
Level 8. Wizard
Answered on 17 Sep 2018

Hi! As long as you're above 18, you can open a CDP account to start investing on SSB. Cheers.

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Good Day Every Day
Good Day Every Day
Level 6. Master
Answered on 15 Sep 2018

Yes you can and you should.

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Gabriel Tham
Gabriel Tham
Level 8. Wizard
Updated on 15 Sep 2018

Are you above 18 years old? If so, you can open a CDP account.

They dont care about the AMOUNT in your CPF or tax statements. It is just used to verify your address and that you are not a fake person opening an account. Opening CDP is free of charge and doesn't matter rich or poor anyone can open it.

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