The Deposit Insurance Scheme (“the Scheme”) was established in 2006 with the objective to provide insurance coverage for Singapore dollar deposits.
With effect from 1 May 2011, the Scheme administered by Singapore Deposit Insurance Corporation provides insurance coverage for up to SGD 50 000 in aggregate, to all non-bank customers in respect of their eligible Singapore dollar deposits. The enhancement to the Scheme was introduced by the Deposit Insurance and Policy Owners’ Protection Schemes Act 2011, which came into force on 1 May 2011.
Please note that any deposit denominated in a currency other than Singapore dollar, any investment product and any structured deposit (including dual currency investment) as defined in the Financial Advisers Act (Cap. 110) are not covered under the Scheme.
Insured Deposit Register
The following are deposit accounts which are eligible for deposit insurance coverage under the Deposit Insurance and Policy Owners’ Protection Schemes Act 2011 (“the Act”). Any Singapore dollar deposit in this list held by an individual or a non-bank corporation will be insured up to the limits specified in the Act.
- SGD SPB Current Account
- SGD Call Account
- SGD Statement Savings Account
- SGD Progress Saver Account
- SGD Wealth Multiplier Account
- SGD Current Account
- SGD Current Plus Account
- SGD Portfolio Finance Txn A/c
- SGD Time Deposit Account
- SGD Step-Up Time Deposit Account
- SGD Instant Interest Time Deposit Account
- ANZ Business Multiplier Account
- ANZ Term Deposit Account
- ANZ Current Account
- Basel III Compliant Account
The information provided herein is accurate as at the date hereof. ANZ Singapore may from time to time update and revise the insured deposit register.