Singapore Banking — DBS, OCBC, UOB, PayNow, CPF

🏦 Major Banks

🏛️ Local Banks

• DBS: Southeast Asia's largest. "World's Best Digital Bank." DBS digibank app.
• OCBC: Oldest Singapore bank. Great savings accounts.
• UOB: Strong in ASEAN. Good for business banking.
• All 3 offer mobile-first banking

🌐 International Banks

• HSBC: Good for expats
• Standard Chartered: Competitive rates
• Citibank: Premium banking
• GXS Bank: Grab's digital bank
• Trust Bank: StanChart + FairPrice digital bank

📱 Digital & Fintech

• PayNow: Instant transfers by phone/NRIC — FREE!
• GrabPay: E-wallet + payments
• Revolut SG: Multi-currency, trading
• WISE: International transfers
• Syfe, StashAway: Robo-advisors for investing

📋 Opening Account

• Citizens/PR: NRIC + address proof. Instant!
• EP/S Pass holders: Passport + work pass + employer letter
• Can open online: DBS digibank (in-app)
• Minimum deposit: S$0-500 depending on account
• No forex control: Move money freely!

💰 CPF & Investing

CPF (Citizens/PR): Mandatory saving — Ordinary (2.5%), Special (4%), Medisave (4%). Used for housing + retirement.
Singapore Savings Bonds (SSB): Risk-free, 2-3% returns. Very popular.
REITs: Singapore is a REIT hub. High dividends. CapitaLand, Mapletree, Ascendas popular.
No capital gains tax: All investment gains are TAX-FREE!

📖 Explore More

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Singapore Banking & Finance Guide