GoBear is now part of Finder

Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

List of banks in Singapore

Looking for a bank or credit co-op that operates in Singapore? You’ll find it here.

On this page, you’ll find a comprehensive list of the banks and credit co-ops that operate in Singapore. Search the tables below for more information about all the financial institutions that offer banking products to Singaporean customers.

Local banks

Full banks are licensed under and governed by the Banking Act, which allows them to provide any of the permissible financial services, including:

  • Deposit-taking
  • Cheque services and lending
  • Financial advisory services
  • Insurance broking
  • Capital market services

Currently, there are five locally incorporated full banks in Singapore, owned by three banking groups:

BankLocal address
Bank of Singapore (part of OCBC Bank)63 Market Street
DBS Bank12 Marina Boulevard
POSB (Part of DBS Bank)12 Marina Boulevard
OCBC Bank65 Chulia Street
United Overseas Bank (UOB)80 Raffles Place
Back to top

Digital banks

On 4 December 2020, the Monetary Authority of Singapore (MAS) unveiled the winners of Singapore’s first digital bank licenses.

Two digital full bank (DFB) licences were awarded to Grab-Singtel consortium and SEA Group. In addition, two digital wholesale bank (DWB) licences were granted to Ant Group and a consortium comprising Greenland Financial Holdings, Linklogis Hong Kong, and Beijing Co-operative Equity Investment Fund Management.

These new digital banks are expected to commence operations from early 2022, so we can expect exciting new offerings in the coming years.

Digital banks in Singapore

Back to top

Foreign banks

Under the Singapore Banking Act, foreign banks may be granted the following types of license in order to operate in Singapore: full bank licence, wholesale bank licence and offshore bank license (currently being phased out).

Full bank

Full banks can engage in the full range of Singapore dollar and non-Singapore dollar-denominated banking business as a local bank but are restricted in terms of the number of branches and automated teller machines (ATMs).

Here’s the list of foreign banks in Singapore with full bank licenses:

BankIncorporated inLocal address
Standard Chartered SingaporeSingapore8 Marina Boulevard
Bangkok Bank Public Company LimitedThailand180 Cecil Street
Bank of America, National AssociationUnited States50 Collyer Quay
Bank of China LimitedPeople’s Republic of China4 Battery Road
Bank of East Asia Limited, TheHong Kong SAR137 Market Street
Bank of IndiaIndia138 Robinson Road
Bank of Tokyo-Mitsubishi UFJ Limited, TheJapan9 Raffles Place
CalyonFrance168 Robinson Road
CitibankUnited States3 Temasek Avenue
Hongkong and Shanghai Banking Corporation LimitedHong Kong SAR21 Collyer Quay
Maybank Singapore LimitedMalaysia2 Battery Road
Hong Leong Bank BerhadMalaysia1 Wallich Street
Indian BankIndia3 Raffles Place
Indian Overseas BankIndia64 Cecil Street
JPMorgan Chase Bank, National AssociationUnited States168 Robinson Road
PT Bank Mandiri (Persero) Tbk.IndonesiaAsia Square Tower 2
PT Bank Negara Indonesia (Persero) Tbk.Indonesia39 Robinson Road
RHB Bank BerhadMalaysia90 Cecil Street
Southern Bank Berhad **Now CIMB BankMalaysia39 Robinson Road
Sumitomo Mitsui Banking CorporationJapan3 Temasek Avenue
UCO BankIndia3 Raffles Place
Ping An BankChina80 Pasir Panjang Road

Qualifying full banks

In October 1999, the Singapore Government created a new sector for foreign banks, known as the Qualifying Full Bank (QFB) scheme.

Banks that are granted QFB privileges are permitted to operate at more locations, share their ATM networks, provide services via the EFTPOS network and relocate their branches freely. QFBs are also allowed to provide the Central Provident Fund’s Supplementary Retirement Scheme and Investment Scheme accounts and to accept CPF fixed deposits.

These foreign banks currently hold a QFB license in Singapore:

BankIncorporated inLocal address
Australia and New Zealand Banking Group LimitedAustraliaRaffles Place
BNP ParibasFrance20 Collyer Quay
Citibank International Personal Bank Singapore (Citibank Singapore Limited)Singapore23 Church Street
Citibank Singapore LimitedSingapore3 Temasek Avenue
HSBCHong Kong21 Collyer Quay
Maybank Singapore LimitedMalaysia2 Battery Road
Standard Chartered BankUnited Kingdom6 Battery Road
State Bank of IndiaIndia135 Cecil Street
ICICI Bank LimitedIndia9 Raffles Place
Bank of ChinaChina4 Battery Road
Industrial and Commercial Bank of ChinaChina6 Raffles Quay
Back to top

Wholesale banks

Foreign banks with wholesale bank licenses are allowed to conduct the same range of services as full banks, except that they can only have one main branch and will not be permitted to deal with banking activities in the Singapore Dollar.

The following banks are granted wholesale bank licenses in Singapore:

BankIncorporated inLocal address
Australia and New Zealand Banking Group LimitedAustraliaRaffles Place
ScotiabankCanada20 Collyer Quay
Barclays Bank PLCUnited Kingdom23 Church Street
Bayerische Hypo- und Vereinsbank AktiengesellschaftGermany3 Temasek Avenue
BNP Paribas Private BankFrance21 Collyer Quay
Chiao Tung Bank Company LimitedTaiwan2 Battery Road
Commerzbank AktiengesellschaftGermany6 Battery Road
Credit SuisseSwitzerland135 Cecil Street
Deutsche Bank AktiengesellschaftGermany9 Raffles Place
EFG BankSwitzerland4 Battery Road
First Commercial Bank LimitedTaiwan6 Raffles Quay
Fortis Bank S.A./N.V.Belgium & the Netherlands63 Market Street
Habib Bank LimitedPakistan3 Phillip Street
HSBC Private Bank (Suisse) SASwitzerland21 Collyer Quay
Industrial and Commercial Bank of ChinaPeople’s Republic of China6 Raffles Quay
ING Bank N.V.The Netherlands9 Raffles Place
KBC Bank N.V.Belgium30 Cecil Street
Korea Exchange BankSouth Korea30 Cecil Street
Landesbank Baden-WuerttembergGermany25 International Business Park
Mizuho Bank LimitedJapan168 Robinson Road
Moscow Narodny Bank LimitedUnited Kingdom50 Robinson Road
National Australia Bank LimitedAustralia5 Temasek Boulevard
National Bank of Kuwait SAKKuwait9 Raffles Place
Norddeutsche LandesbankGermany6 Shenton Way
Northern Trust Company, TheUnited States1 George Street
RabobankThe Netherlands77 Robinson Road
Royal Bank of Scotland PLC, TheUnited Kingdom50 Raffles Place
Sanpaolo IMI S.P.A.Italy6 Temasek Boulevard
Société GénéraleFrance80 Robinson Road
State Street Bank and Trust CompanyUnited States168 Robinson Road
UBS AGSwitzerland5 Temasek Boulevard
UFJ Bank LimitedJapan6 Raffles Quay
WestLB AktiengesellschaftGermany3 Temasek Avenue
Back to top

Offshore banks

Banks operating under an offshore banking licence are limited when dealing with Singapore residents. Since April 2016, MAS has stopped issuing Offshore Bank licenses and will be converting all existing offshore banks to wholesale banks over time.

The following are offshore banks in Singapore:

BankIncorporated inLocal address
Absa Group LimitedSouth Africa9 Temasek Boulevard
Agricultural Bank of ChinaPeople’s Republic of China80 Raffles Place
Arab Bank PLCJordan80 Raffles Place
Banca di Roma S.p.AItaly9 Raffles Place
Banca Monte dei Paschi di Siena S.P.A.Italy10 Collyer Quay
Bank of CommunicationsPeople’s Republic of China50 Raffles Place
Bank of New York Mellon, TheUnited States1 Temasek Avenue
Bank of TaiwanTaiwan80 Raffles Place
Bumiputra-Commerce Bank Berhad **Now CIMB BankMalaysia7 Temasek Boulevard
Canadian Imperial Bank of Commerce
Canada16 Collyer Quay
Chang Hwa Commercial Bank LimitedTaiwan1 Finlayson Green
China Construction Bank CorporationPeople’s Republic of China9 Raffles Place
Shinhan BankSouth Korea50 Raffles Place
Clariden LeuSwitzerland80 Raffles Place
Commonwealth Bank of AustraliaAustralia3 Temasek Avenue
Crédit Agricole (SUISSE) SASwitzerland168 Robinson Road
Crédit Industriel et CommercialFrance12 Marina Boulevard
Banque Internationale à Luxembourg SALuxemboug9 Raffles Place
DNB Bank SANorway8 Shenton Way
DZ Bank AG Singapore BranchGermany50 Shenton Way
Hana BankSouth Korea8 Cross Street
Hang Seng Bank LimitedHong Kong SAR21 Collyer Quay
HSH Nordbank AGGermany3 Temasek Avenue
Hua Nan Commercial Bank LimitedTaiwan80 Robinson Road
International Commercial Bank of China, TheTaiwan6 Battery Road
Korea Development Bank, TheSouth Korea8 Shenton Way
Krung Thai Bank Public Company LimitedThailand65 Chulia Street
Land Bank of TaiwanTaiwan80 Raffles Place
Lloyds Bank plcUnited Kingdom1 Temasek Avenue
Mitsubishi Trust and Banking Corporation, TheJapan50 Raffles Place
NatixisFrance50 Raffles Place
Nordea Bank Finland PLC, Singapore BranchFinland3 Anson Road
Norinchukin Bank, TheJapan80 Raffles Place
Philippine National BankPhilippines304 Orchard Road
PT Bank Mandiri (persero) Tbk.Indonesia3 Anson Road
Raiffeisen Zentralbank Oesterreich AGAustriaOne Raffles Quay
Royal Bank of CanadaCanada20 Raffles Place
Siam Commercial Bank Public Company Limited, TheThailand16 Collyer Quay
Skandinaviska Enskilda Banken ABSweden50 Raffles Place
State Bank of IndiaIndia135 Cecil Street
Sumitomo Trust and Banking Company Limited, TheJapan8 Shenton Way
Svenska Handelsbanken ABSweden65 Chulia Street
Toronto Dominion Bank, TheCanada1 Temasek Avenue
Union de Banques Arabes et FrancaisesFrance6 Temasek Boulevard
Westpac Banking CorporationAustralia77 Robinson Road
Woori BankSouth Korea5 Shenton Way
Back to top

Credit co-operatives

Credit co-operatives (also known as credit co-ops or credit unions) are member-owned, non-profit financial institutions with a social mission. They operate and provide affordable financial solutions for its members through pooled resources.

Here are some of the most popular credit co-ops in Singapore:

Credit Co-OpsLocal address
TCC Credit Co-Operative95 Killiney Rd
Straits Times Co-Op1000 Toa Payoh North
Singapore Government Staff Credit Co-Operative Society Ltd1 Sophia Rd
AUPE Credit Co-Operative295 Upper Paya Lebar Rd
SSBEC T&L Society Ltd11 Cantonment Road
Back to top

Compare current accounts offered by Singapore banks

Name Product Monthly fee Minimum Initial Deposit Fall below monthly fees Mobile payments
S$19.99
S$0
S$0
Apple Pay, Google Pay

Get 20% cashback on all eligible public transport expenses in Singapore when you pay with Revolut. Valid until 31 December 2021.

An exclusive premium contactless card that allows for unlimited currency exchanges, a free Lounge Pass, and 1% cashback on expenses.
S$9.99
S$0
S$0
Apple Pay, Google Pay

Get 20% cashback on all eligible public transport expenses in Singapore when you pay with Revolut. Valid until 31 December 2021.

On top of standard Revolut perks, this debit card comes with unlimited spending and free overseas ATM withdrawals, up to $700 per month.
S$0
S$0
S$0
Apple Pay, Google Pay
Wise (formerly TransferWise) is an international account for over 50 currencies, with instant, super-cheap money transfer, a card to spend in any currency, bank details to get paid in 30 different countries and multi-currency direct debits.
S$0
S$0
S$0
Apple Pay, Google Pay

Get 20% cashback on all eligible public transport expenses in Singapore when you pay with Revolut. Valid until 31 December 2021.

Enjoy no monthly fees, competitive currency conversion rates, and spend in over 150 currencies with Revolut’s Standard card.
loading

Compare up to 4 providers

Disclaimer: Interest rates are applicable for deposits between S$1,000 and S$49,999. Interest rate and initial deposit are shown in Singapore dollars. Please check with the provider for deposits and rates in other amounts and currencies.

Learn more about different banking products

Compare the above banks’ services side by side. Click on the product or service you’re interested in below to view our handy comparison tables.

Back to top

More guides on Finder

Ask Finder

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy Policy and Terms.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site