(1) Current Deposit
Corporate current account is a kind of deposit account that has no fixed term and is mainly transacted through cash or transfer. It provides customers with ease of access to deposits and withdrawals. The current account may be denominated in currencies such as USD, SGD, RMB, etc.
(2) Time Deposit
Time deposit is a deposit where the terms and interest rate are agreed upon by both the bank and depositor prior to the placement of the deposit. The time deposit may be used for settlement or withdrawn via cash or transfer. For temporary uses, customers may apply for advance drawing or partial advance drawing.
(3) Deposit Insurance Scheme
Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.
Insured Deposit Register