CIMB JUNIOR SAVER ACCOUNT

1. When is the fund in period?

• 30 calendar days from the date of account application.

2. What is the holding period requirement for new Junior Saver Account customers?

• For new-to-JSA customers, the end-of-day balance of the qualifying account(s) must not fall below S$2,000 in fresh funds for three (3) consecutive calendar months (the “Holding Period”), starting from the date the initial S$2,000 fresh funds are first deposited (the “Fund-in Date”).

3. Do additional fresh fund deposits earn extra lucky draw entries?

• Yes. Any additional fresh funds deposited in multiples of S$1,000 to earn extra lucky draw entries must be deposited within the promotion period and maintained until 30 April 2026, regardless of the date of deposit.

4. Is there a limit to the number of Cash Credits available for New to JSA Customers during the Promotion Period?

• Cash Credit for New to JSA Customer(s) are limited to the first 500 Qualifying Accounts during the Promotion Period, and the first 500 Qualifying Accounts will be determined by the Fund-in Date. 

5. How many Nintendo Switch 2 is available?

• A total of three (3) Nintendo Switch 2 consoles are available as prizes for this lucky draw.

6. When the lucky draw will be conducted?

• The Lucky Draw will be conducted after 30 September 2026. The date, time, and place of the lucky draw will be published on CIMB Bank’s website prior to the draw.

7. How will customers be notified?

• Eligible winners will be notified within seven (7) calendar days of the lucky draw determination via Parent’s Push Notification through the CIMB Clicks App (or such other method as determined by the Bank in its sole discretion). To receive Push Notifications, customers must have logged into the CIMB Clicks Mobile App beforehand. Winners will receive a digital scratch card, which will reveal the prize upon scratching. Prizes will be pre-assigned through the lucky draw system, and winners must redeem their prize within the validity period stated in the notification. Failure to redeem within the stipulated timeframe will result in forfeiture of the prize, and CIMB Bank reserves the right to select a replacement winner. 

1. What is the main purpose of each account?

• Junior Saver Account (JSA): Designed to help children learn good savings habits and manage money independently with attractive interest rates.
• Child Development Account (CDA): A government-initiated savings scheme to support a child’s healthcare and education expenses, with dollar-for-dollar matching by the government (up to specified caps).

2. What are the interest rates?

• Junior Saver Account (JSA): Earns up to 1.58% p.a.* on savings.
• Child Development Account (CDA): Interest rates vary by bank (typically ~0.05% to 2.4% p.a., depending on the provider).

Rates of the Junior Saver Account (JSA) and Child Development Account (CDA) are accurate as at 15 September 2025 and are subject to change without prior notice. CDA rates are based on the publicly available rates of the local banks' CDA accounts in Singapore as at 15 September 2025. 

3. Are there fees or minimum balance requirements?

• Junior Saver Account (JSA): No fall-below fees and no lock-in period.
• Child Development Account (CDA): No fees, but funds are restricted for approved uses only.

4. Can I withdraw money freely?

• Junior Saver Account (JSA): Yes. Withdrawals for In-Trust account can only be performed at CIMB Branch, just like a normal savings account.
• Child Development Account (CDA): No. Funds can only be used at approved institutions (for example, registered childcare centres and kindergartens, specified healthcare institutions, etc.).

Withdrawals for In-Trust account can only be performed at CIMB branch and can be done by parent only. 

5. Are there any rewards for opening the account?

• Junior Saver Account (JSA): New-to-bank customers will receive S$50 cash credit and stand a chance to win a Nintendo Switch 2 when they open an account online and deposit S$2,000 within 30 calendar days (“Fund-in Period”). Earn additional chance for every fresh fund deposit in multiples of S$1,000. Existing customers will earn one chance to win a Nintendo Switch 2 for every fresh fund deposit in multiples of S$1,000.
• Child Development Account (CDA): Eligible for government matching contributions, depending on the amount deposited and child’s birth order.

6. Who can open the account?

• Junior Saver Account (JSA): Parents/guardians can open for children below 16 years old.
• Child Development Account (CDA): Opened automatically for Singapore citizen children upon birth registration (parents choose which bank to maintain the CDA with).

7. Which account is better for everyday savings?

• Junior Saver Account (SA): Great for building daily savings and teaching kids money management with easy access to funds.
• Child Development Account (CDA): Best suited for long-term support of education and healthcare expenses, not for daily withdrawals.

Information relating to the Child Development Account in this FAQ is based on the information on the following website accessed on 15 September 2025:

Child Development Co-Savings (Baby Bonus) Scheme

Whilst the Bank has taken all reasonable care to ensure that the information herein has been compiled from sources believed to be reliable and is not untrue or misleading at the time of this FAQ, the Bank assumes no responsibility and makes no representations or warranties, of any kind, as to the accuracy or completeness of this FAQ and this FAQ does not purport to contain all the information that a recipient 

Information is accurate as at 15 September 2025

Click here to view common pre-application FAQs.

*Interest accrued daily and credited monthly. Daily interest will be paid on the entire daily end-of-day balance, provided that the prevailing interest earned is at least $0.01 at the end of the month.

^#Fresh funds refers to funds that do not originate from any existing account with the Bank.

^Terms and conditions governing Junior Saver Account x Nintendo Switch 2 lucky draw account opening promotion apply. Click here for details. 

¹CIMB retains the discretion, without the obligation to provide any reason, to request a discretionary first-party fund-in (of an amount determined at its absolute discretion) for all applications for current/savings account. Initial deposit will be refunded to the originating account in the event deposit application is unsuccessful. Please expect a longer turnaround time in receiving the refund of the initial deposit if initial deposit was not sent using the accepted methods as stated above. If the originating account is not under the CIMB deposit applicant’s name, any request to refund the initial deposit to the applicant’s personal account requires a documentary proof i.e. bank statement. All incidental charges and foreign exchange arising from the refund will be borne by the customer. An indemnity form may be required to be completed by the applicant before any refund can be processed.

²Download our "CIMB Clicks Singapore" Mobile App to set up your Digital Token. Find out more here.

CIMB may have right of review (RoR) clauses in the terms and conditions governing your product and/or service relationship with our bank. Please refer to the Notification of Right of Review Clause for more information.

Deposit Insurance Scheme

Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$100,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.