While children get to learn about money management in subjects like Character and Citizenship Education, parents still remain as the most influential educators at home. A 2024 MoneySmart survey 54% of Singaporean adults believe their parents had a strong influence on their financial habits, and 62% of respondents copy their parents’ good financial habits.
Early Financial Literacy Matters, Here’s How You Can Advocate It
From the first coin dropped into their first piggy bank to watching savings grow over time, financial habits formed in early childhood shape discipline, self-confidence, and decision-making. When children learn to save with purpose, they begin to appreciate not just the value of money but the satisfaction of reaching a goal. These lessons don’t need to be complex. Everyday moments like discussing allowance, capitalising on discounts and promotions, can spark a lifelong mindset of financial awareness.
When financial literacy is nurtured at home, children are more likely to:
And one of the most effective ways to reinforce these lessons? Give your child their own savings account.
A Rewarding Way to Start: The CIMB Junior Saver Account
To support families in building smart money habits from the start, CIMB Bank offers the Junior Saver Account, a children’s savings account that’s secure, flexible, and rewarding.
It’s more than just a place to save money. It’s their first foray into personal finance management.
Here’s why thousands of parents in Singapore trust CIMB with their children’s early savings journey:
1. Attractive Interest Rates
Up to 2.50%* p.a. interest on balances up to S$50,000. Interest is calculated daily and credited monthly, so your child can see their money growing month after month.
2. No Lock-In, No Fall-Below Fees
This account offers complete flexibility, with no lock-in period and no fall-below balance fees, available to withdraw anytime for whatever use.
3. Easy Online Application
Use MyInfo to submit your application online.
No branch visits are required.
4. A Fun Reward to Celebrate Their First Step
Ready to start? Get a S$100* ActionCity voucher with a S$3,000 placement and a holding period of 3 months, once your account is approved!
*T&Cs apply. While stocks last.
CIMB Bank: A Trusted Partner for Families
CIMB Bank is the trusted choice for parents planning their family’s future. The bank is known for balancing innovation with stability, making it easy to manage money while ensuring your savings are safe.
And most importantly, you’ll have peace of mind knowing that SGD deposits are insured up to S$100,000 by SDIC.
- Visit the official CIMB Junior Saver Account page
- Click “Apply now.”
- Log in with MyInfo and complete the online form
- Receive your child’s account number within 5 business days.
*T&Cs apply. SGD deposits are insured up to S$100k by SDIC.
Sponsored content by CIMB Bank Berhad, Singapore Branch (“CIMB”). The information shared is provided strictly on a non-reliance basis and does not constitute any form of advice from CIMB. You should make your own assessment of your financial situation and needs and whether any product is suitable for you.
