I also want to open a bank account in SG with the lowest min balance with no annual fees.

Any suggestion?

reading from a few pages back i heard, opening with the reason of "trading account" is doable not sure though. Hope any sifus here can verify

The steps is quite simple, go to both banks and open both accounts. Once its done, every first day of the month you just transfer money from one account to another, so that it "thinks"its fresh funds and you gain the bonus interest. Do keep in mind the minimum account balance to avoid the fall below fee.

Do note confuse trading accounts and CDP. Most Singapore banks are hesitant allow foreigners to just open savings account (i dont know why, probably because they cant earn money off you). To overcome this, you tell them you want to open a trading account. When you do this, they automatically have to open a savings account for you to fund your trading account with money to buy shares.

Some bank trading account needs CDP, which is used to store your shares. Some bank dont need CDP, and they act as a custodian to your shares. Again, CDP is not a factor here. The key is the trading account.

So we can just open an trading account together with a saving account without actually trading on the stock markets? Then just open two account and all problem solved, right?

Hi Qwister,...

Well, that's the rate I've been using all this while.

YES, you need to declare that you do not have loans inside the country if you are going to select 'Investments' as the reason that you are sending your funds overseas. This is in the Form P.

If you going to use the reason of paying for a purchase, you need to show the invoice from the overseas supplier.

I am in the legal industry.

Hoped to be able to advise more in future,...

That leads to an important question. If I have many loans in Malaysia, does that mean that I cannot TT to Singapore? Why other reason can I use apart from "Investment"?

Recommend DBS bank for Malaysian to open bank account in Singapore. Easy to open, excellent service (much better than Malaysian banks  ), just 10-15 minutes, they even fill in the bank opening form for you. Also instantly eligible for ATM/debit card, internet banking and secure device.

Requirements :

1. Malaysian IC
2. SGD 500 minimum deposit

Benefits:
1. Platinum ATM/VISA debit card, free of charge
2. Will send statement every month to your Malaysian home address, free of charge
3. Can use internet banking anywhere (using a secure device), free of charge
4. Can register your Malaysian HP no for internet banking message, free of charge
5. Online bank fraud refund guarantee. 

Cons:
1. No Malaysian bank presence
2. SGD 2 fee per month of your account value falls below SGD 500

*In Singapore now. Maximum cash to carry before need to declare is SGD 20,000.

Tried to open trading account together with saving account at Standard Chartered Bank but rejected by that bank. Then I went to UOB, managed to open saving account after agreeing to take up Prudential insurance saving account of about 2% interest per annum, mature at 10 years. Saving account minimum balance SGD 1000, else charges of SGD 2 per month. Insurance premium minimum SGD 6670 per year for 5 years. Monthly premium payments accepted but that will attract a small administrative fee.

Insurance pays you 5% of your capital paid plus refund your capital in the event of death.

Thank you for the update,... looks like things are getting harder by the days to open an account,...

You took up an insurance package, but can we claim in the event of situations occuring, because as foreigners in Sgp, there are certain restrictions towards claims by foreigners. I'm wary of the benefits that we can enjoy,...

To perform stock investments, you still need to open a trading account.

What were the reasons provided by Standard Chartered when they refused to open a trading account and savings account for you ?

I was told by Standard Chartered bank I need to have a saving account first before opening trading account. To open a saving account need employment pass.

I was told by Standard Chartered bank I need to have a saving account first before opening trading account. To open a saving account need employment pass.

Which Standard Chartered branch did you go to, bro ??

saw the FAQ. it's says Singaporeans 

Not really. I am a Malaysian, and made a small initial investment in Singapore Savings Bond, a month ago.

____
The interest gained in investing in Singapore Savings Bonds is around 2 %. It is not much, but it is slightly better than the Fixed Deposit in Singapore.

Then again, should I invest instead in Sreits, if the risk in Sreits is manageable? 

Any advice from any experts here is very much appreciated here. 

*In Singapore now. Maximum cash to carry before need to declare is SGD 20,000.

Tried to open trading account together with saving account at Standard Chartered Bank but rejected by that bank. Then I went to UOB, managed to open saving account after agreeing to take up Prudential insurance saving account of about 2% interest per annum, mature at 10 years. Saving account minimum balance SGD 1000, else charges of SGD 2 per month. Insurance premium minimum SGD 6670 per year for 5 years. Monthly premium payments accepted but that will attract a small administrative fee.

Insurance pays you 5% of your capital paid plus refund your capital in the event of death.

Kart,... learn the instruments in the SGX. With such knowledge, you will earn more per Dollar that you deploy into the mkt,... Deploying into SG FD and the SSB are,... to me,... 'overkills' on safety.

Thanks for your insight, Hansel.

I realize the need to balance between the potential gain (or interest), with the tolerable risk I may face. For sure, with such great amount of knowledge you have, you know where to invest your money to maximize gain, while minimizing pitfall and loses.

For a newbie like me, I have a lot to know to learn from you all. 

By saying 'instruments in the SGX', are you suggesting to invest in stocks in SGX?

I may go Singapore UOB to open.