The Singapore Deposit Insurance Corporation (SDIC) administers the Deposit Insurance Scheme in Singapore (Scheme). SDIC is a company limited by guarantee under the Companies Act. The board of directors is accountable to the Minister in charge of the Monetary Authority of Singapore.
In the event a Scheme member bank or finance company fails, all of your eligible accounts with that member are aggregated and insured up to S$20,000, net of your liabilities to the member.
Moneys held in bank deposits under the CPF Investment Scheme are separately insured up to S$20,000.
How do I know if my deposits are covered by deposit insurance?
Is your bank or finance company a member of the Deposit Insurance Scheme?
