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Where can your child keep their savings?

A joint account you open with your child. Check the first deposit and who can open, then the interest on your balance.

On S$1,000, interest differs by S$12.30 a year: S$0.50 to S$12.80 at base rates. OCBC and DBS/POSB: not worked out (see below). 2 of 4 need no first deposit.

Step 1 Your details

Your child is a

We hide figures that don’t apply.

Step 2 Your results

Your setup: S$1,000 balance · Citizen child · A to Z

4 accounts, A to Z.

CIMB Junior Saver Account

Interest a year on your S$1,000

About S$12.80

Estimate, base rate

First deposit

S$1,000 to open

Interest
  • First S$25,0001.28%
  • S$25,000 to S$50,0001.58%
  • Above S$50,0000.5%

Source: CIMB Junior Saver page ↗ (opens in new tab)Data period: Rates as at 15 September 2025Last checked:

Gift or offer: S$50 ActionCity voucher · until 31 December 2026

Conditions & source
First deposit details

S$1,000 to open, in one FAST transfer from your own account at another Singapore bank. No fall-below fee.

Source: CIMB Junior Saver page ↗ (opens in new tab)Data period: Information as at 15 May 2026Last checked:

Who can open

Opened by a parent or guardian for a child. CIMB's page says both 16 and below and below 16, so check your child's age with CIMB.

Source: CIMB Junior Saver page ↗ (opens in new tab)Data period: Information as at 15 May 2026Last checked:

Fees and extras

No fall-below fee and no lock-in. Withdrawals from an in-trust account are made by the parent at a CIMB branch.

Source: CIMB Junior Saver page ↗ (opens in new tab)Data period: Information as at 15 May 2026Last checked:

How to open

Online with MyInfo. CIMB says the account opens within 7 business days of your deposit and documents; there may be a video call to verify you.

Source: CIMB Junior Saver page ↗ (opens in new tab)Data period: Information as at 15 May 2026Last checked:

Cards

CIMB's page does not mention a card for the child; the account is managed in the CIMB OCTO app.

Source: CIMB Junior Saver page ↗ (opens in new tab)Data period: Information as at 15 May 2026Last checked:

S$50 ActionCity voucher

Open the account online and add at least S$2,000 in fresh funds within 30 days. Keep it there for three months to get a S$50 ActionCity voucher.

First 500 qualifying accounts. Fresh funds and a three-calendar-month holding period from the first S$2,000 deposit.

Source: CIMB ActionCity promotion page ↗ (opens in new tab)Data period: Offer until 31 December 2026Last checked:

CIMB’s page ↗ (opens in new tab)

OCBC Mighty Savers Account

Interest a year on your S$1,000

Not worked out

Figure last checked 12 October 2026.

First deposit

S$0 to open

Source: OCBC Mighty Savers page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

Interest

0.05% on the whole balance

Source: OCBC deposit rates page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

No opening gift listed when we checked.

Conditions & source
First deposit details

No initial deposit and no minimum average daily balance.

Source: OCBC Mighty Savers page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

Who can open

Child below 16, with a parent or legal guardian as joint owner; both living in Singapore.

Source: OCBC Mighty Savers page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

Fees and extras

eStatements only. Free coin deposits at selected OCBC ATMs. Other charges are in OCBC's fees and charges guide.

Source: OCBC Mighty Savers page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

How to open

At any OCBC branch. Bring your NRIC or passport, your child's birth certificate (and permit for PR children) and proof of address.

Source: OCBC Mighty Savers page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

Cards

OCBC's page does not mention an ATM or debit card for the child. Your child can receive eligible payouts by PayNow to this account.

Source: OCBC Mighty Savers page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

OCBC’s page ↗ (opens in new tab)

POSB My Account (Kids)

Interest a year on your S$1,000

Not worked out

POSB’s kids page does not state the interest rate.

First deposit

S$0 to open

Source: POSB My Account (Kids) page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

Gift or offer: S$1 welcome gift · no end date published

Conditions & source
First deposit details

No initial deposit and no minimum balance.

Source: POSB My Account (Kids) page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

Interest, in the bank’s words

Interest is paid monthly; POSB's kids page does not state the rate.

Source: POSB My Account (Kids) page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

Who can open

Child below 16; parent 18 or older. A joint account with your child.

Source: POSB My Account (Kids) page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

Fees and extras

No service charge. Paper statements S$2 a month, waived while the account holder is 16 or younger. Coin deposits free at coin deposit machines.

Source: POSB My Account (Kids) page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

How to open

Existing POSB customers apply online from the product page; new customers apply in the digibank app.

Source: POSB My Account (Kids) page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

Cards

From 12, your child can get a DBS/POSB ATM card at a branch. From 16, digibank access and a DBS Visa Debit Card.

Source: POSB My Account (Kids) page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

Why we haven’t compared its Interest

The product page gives no rate and POSB's rates page did not load on 10 October 2026. Ask POSB for the current My Account rate.

S$1 welcome gift

POSB puts S$1 into the new account as a welcome gift for your child.

No end date is published on the page.

Source: POSB My Account (Kids) page ↗ (opens in new tab)Data period: No end date publishedLast checked:

DBS/POSB’s page ↗ (opens in new tab)

UOB Junior Savers Account

Interest a year on your S$1,000

About S$0.50

Estimate, base rate

First deposit

S$500 to open

Source: UOB Junior Savers page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

Interest

0.05% on the whole balance

Source: UOB SGD deposit rates page ↗ (opens in new tab)Data period: indicative rates, no date statedLast checked:

No opening gift listed when we checked.

Conditions & source
First deposit details

S$500 to open. S$2 fall-below fee in any month the average balance is under S$500.

Source: UOB Junior Savers page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

Who can open

Child 16 or younger, as a joint account with a parent or legal guardian. From 15 it can convert to a regular savings account.

Source: UOB Junior Savers page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

Fees and extras

S$2 a month if the average balance falls below S$500. eStatements. Free insurance covers 50% to 100% of the average balance, up to S$150,000 per parent. It starts once you keep S$3,000 or more on average for six months. It ends when the parent turns 65 or the child turns 17.

Source: UOB Junior Savers page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

How to open

Book an appointment and open it at a UOB branch.

Source: UOB Junior Savers page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

Cards

From 15, your child can ask for an ATM card at a UOB branch with an updated specimen signature.

Source: UOB Junior Savers page ↗ (opens in new tab)Period: not stated by the sourceLast checked:

UOB’s page ↗ (opens in new tab)

Accounts we couldn’t compare for your inputs

  • OCBC Mighty Savers Account: Figure last checked 12 October 2026.
  • POSB My Account (Kids): POSB’s kids page does not state the interest rate.

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Our method

We read each bank’s kids’ account page, rates page and promotion page, and record the source and date for every figure. The interest estimate uses base rates only, applied to the slice of your balance in each band. Bonus rates and their conditions are shown in words.

You choose the order. An account joins a sort only if we checked the bank’s page in the last 30 days. Its figure must also be published and consistent. Offers that have ended drop off.

Every source we read

Confirm rates, fees and gift terms with the bank before you open an account.