Deposits
Business Account Built for Singapore SMEs and Companies
SingFinance’s corporate current account provides overdraft facility access (subject to eligibility) to manage cash flow gaps and lets you earn interest on account balances.
Get The Head Start You Need With Our Business Account
The SingFinance Business Current Account is designed for companies, SMEs, sole proprietors, and corporate entities operating in Singapore. Access overdraft facilities (subject to eligibility), earn interest on balances, manage payments with free Internet Banking onboarding via SIF BIZ, and process FAST transfers for daily operations. Singapore dollar deposits are SDIC-insured up to $100,000 per depositor. All overdraft and account facilities are subject to eligibility and assessment.
SingFinance Business Current Account
Built to support day-to-day corporate cash flow with the flexibility of overdraft access when needed and the added benefit of earning interest on idle balances.
Our Features
Access to overdraft facilities
(subject to eligibility)
Bridge short-term cash flow gaps with a pre-arranged credit line linked directly to your current account. Draw funds beyond your available balance up to an approved limit, subject to credit assessment and eligibility requirements.
Earn interest on account
balances
Put idle corporate funds to work without locking them into term deposits. Interest is calculated on a blocked basis. Rates are subject to change without prior notice.
Free Internet Banking
onboarding via SIF BIZ
Manage your business account online at no onboarding cost. SIF BIZ provides secure access to account balances, transaction history, fund transfers, and payment approvals through Business Internet Banking.
Interbank funds transfer
via FAST
Process same-day interbank payments with FAST network connectivity. Transfer funds across participating banks and non-financial institutions (NFI) in Singapore efficiently.
SDIC-insured up to $100,000
per depositor
Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation (SDIC), for up to $100,000 in aggregate per depositor per Scheme member by law.
Flexible Overdraft Facilities to Support Your Business Cash Flow
An overdraft facility is a pre-arranged credit line linked to your business current account that allows your company to draw funds beyond the available account balance, up to an approved limit. Overdraft access helps manage short-term cash flow gaps such as bridging payroll, supplier payments, or operational costs between receivables.
The SingFinance Current Account provides access to overdraft facilities subject to eligibility and credit assessment. Interest rates for approved overdraft facilities are determined on a case-by-case basis during the credit assessment process and will be confirmed upon approval.
Enquire NowFor businesses requiring additional financing beyond overdraft limits, SingFinance also offers unsecured business loans and accounts receivables financing as complementary cash flow solutions.
Earn Interest on Your Corporate Account Balance
The SingFinance Business Current Account earns interest on balances, allowing companies to put idle cash balances to work even within a transactional account. Interest is calculated on a blocked basis by balance level, with rates applied to the corresponding balance as detailed in the table below.
| Account Balance | Interest Rate |
|---|---|
| $30,000 to below $500,000 | 0.030% p.a. |
| $500,000 to below $1,000,000 | 0.050% p.a. |
| $1,000,000 & above | 0.030% p.a. |
* The above rates are subject to change without prior notice.
For businesses looking to maximise returns on surplus cash alongside the current account, SingFinance offers competitive rates on fixed deposit placements.
Calculate Your Interest
Use the interest calculator below to estimate potential earnings on your corporate current account balance. Enter your projected account balance to see how much interest your business could earn across the blocked rate structure.
*This calculator provides an estimate only. Actual interest earned may vary based on daily balance fluctuations and rate changes. Interest rates are subject to change without prior notice.
Eligibility & Requirements
SingFinance Business Current Accounts are available to eligible corporate entities registered in Singapore. Review the requirements below before applying.
| Account eligibility | For corporate customers only |
| Initial deposit | Initial Deposit of $5,000 is required to open account |
| Minimum balance | Minimum Average Daily balance $5,000 |
| Who Can Apply | Companies, SMEs, partnerships, sole proprietors, and other corporate entities registered in Singapore. Overdraft and account facilities are subject to SingFinance’s credit assessment and approval. |
| Documents Required | Business registration documents (ACRA BizFile), identity cards of all authorised signatories/directors/connected parties, company constitution/partnership agreement, board resolution authorising account opening, and any additional documents requested during the application process. |
| Country of Registration | Singapore-registered entities only. |
| Terms and Conditions | Annual fee of $40 applies from the second year onwards (waived for the first year). Fall-below fee of $35 per month applies if the minimum average daily balance requirement is not met. Early account closure fee of $50 applies for accounts closed within 6 months of opening. Full terms and conditions are available here. |
Fees & Charges
The SingFinance Business Current Account includes free Internet Banking access via SIF BIZ at no onboarding cost. The annual account fee of $40 is waived for the first year. The initial deposit requirement is $5,000, and the minimum average daily balance is also $5,000 to avoid the fall-below fee. Review the full fee schedule below.
| Current Account | Fees & Charges |
| Minimum average daily balance | $5,000.00 |
| Annual fee | $40.00; waived for 1st year |
| Fall-below fee | $35.00 per month |
| Incidental OD interest charge | Prime + 5% on overdrawn amount (min. $30.00) |
| Early account closure fee | $50.00 (for account closed within 6 months of opening) |
| Cheque clearing fees | First 30 cheques free per month $0.50/cheque for subsequent cheques cleared per month |
| Direct marking of cheque | $100.00 per cheque |
| Outward returned cheque | $30.00 per cheque |
| Payment-stopped cheque | $30.00 per cheque; $100.00 per range |
| Cancellation of cheque | Same as payment-stopped cheque |
| Single/Recurring Interbank Transfer via FAST | Transaction Fee – $0.50 per item |
| Purchase of Cashier’s Order | $10.00 |
| Cancellation of Cashier’s Order | $10.00 |
| Payment-stopped Cashier’s Order | $30.00 |
| Cheque retrieval – cheque image | $50.00 + GST per cheque |
| Service charge for large cash deposit | Waived for first $25,000.00 Subsequent amount will be charged at 0.1% (subject to minimum charge of $10.00 per account per day) |
| Coin deposit/withdrawal/exchange service | Every subsequent 100 pieces or part thereof above 50 pieces – $5.00 |
| Audit confirmation fee | $50.00 per account (for current/preceding year) $70.00 per account (for period more than 1 year ago) |
How to Open Your SingFinance Business Account?
Opening a business current account with SingFinance in Singapore is straightforward. Follow the steps below to get started.
Eligible businesses may also explore government-backed financing options such as the Enterprise Financing Scheme (EFS) for additional working capital support.
Why Choose SingFinance Business Account?
SingFinance is a licensed finance company regulated by the Monetary Authority of Singapore (MAS), providing corporate current accounts and SME banking services to businesses across Singapore.
Singapore dollar deposits held in the SingFinance Current Account by non-bank depositors, including companies, SMEs, partnerships, and sole proprietors, are insured by the Singapore Deposit Insurance Corporation (SDIC) for up to S$100,000 in aggregate per depositor per Scheme member by law, under the Deposit Insurance and Policy Owners’ Protection Schemes Act 2011. The SDIC deposit insurance protection applies to business accounts held at licensed finance companies in Singapore in the same way it applies to business accounts held at Singapore banks.
Coverage is calculated per entity, not per director or shareholder. For corporate entities, the SDIC coverage applies to each separate legal entity and is not aggregated across a group of related companies. A holding company and its subsidiaries each receive separate coverage of up to S$100,000 per entity. Full details are available on the SingFinance Deposit Insurance page and the SDIC website.
SingFinance was incorporated in Singapore in 1964 and has been SGX-listed since 1983. Beyond business current accounts, SingFinance provides a comprehensive SME financing suite, including fixed deposits for surplus cash management and eGuarantee@Gov, an MAS-recognised digital service for government contract guarantees. Learn more about our story and institutional track record.
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.
Other Related Products
Frequently Asked Questions About
Current Accounts
Visit our main FAQs page for more frequently asked questions.