Welcome to IOB

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.'

Savings account in SGD/USD/GBP can be opened for individuals, either singly or jointly,(above 21 years). Foreign curreny accounts are subject to bank's approval.

Minimum initial deposit/Charges

The following minimum deposit[subject to review] is to be maintained during the currency of the account. Fall-below fee of S$10/- shall be levied for balances below the minimum amount.SGD500/USD500 /GBP500.

A fee of S$50/- shall be levied on savings account which is closed within six months of operation.

Required Documents

(The following documents submitted at the time of opening the account, are indicative/non- exhaustive, and approval is subject to the Bank's discretion/satisfaction)

Individuals

Recent passport size photograph of applicant/s.
Savings Account opening form is to be signed in our presence by single or joint applicants.
Passbook is to be signed in our presence.
Customer Profile form (KYC) is to be completed and signed.
Original identification documents, i.e identity card/employment pass/passport.
Letter of employment by work permit/Employment pass applicants to be submitted, duly signed.

SAVINGS BANK ACCOUNT

Individuals