Yes, you can open a bank account for a baby in Singapore. Most banks in Singapore offer accounts specifically designed for minors. These accounts are usually opened by the parent or legal guardian on behalf of the child.
To open a bank account for a baby in Singapore, you’ll typically need:
- Documentation: The child’s birth certificate and the identification documents of the parent or guardian opening the account.
- Minimum deposit: Some banks might require an initial deposit to open the account, so be prepared for this.
- Guardian’s information: Details of the parent or legal guardian, including their identification and contact information.
It’s a good idea to research different banks and their offerings to find an account that best suits your needs, considering factors such as interest rates, fees, accessibility, and any specific benefits or features tailored for children’s accounts. Additionally, some accounts might come with facilities like a passbook or online banking access, allowing you to manage the account conveniently.