The Ledger

Deposit Insurance in Singapore: What SDIC Covers, Up to S$100,000

Posted by eduKate Asia on

By The Ledger desk · Last verified 28 September 2026

If a bank or finance company in Singapore failed, the Singapore Deposit Insurance Corporation (SDIC) would repay your Singapore-dollar deposits up to S$100,000 per bank. The limit covers all your accounts at that bank together, not each account separately. Savings, current and fixed deposit accounts are covered. Foreign-currency deposits, structured deposits and investment products are not. The limit rose from S$75,000 on 1 April 2024.

Quick facts

  • Up to S$100,000 per depositor per bank, since 1 April 2024.
  • Singapore-dollar savings, current and fixed deposits are covered.
  • SRS accounts count towards the same S$100,000.
  • CPF Investment Scheme and Retirement Sum Scheme money is insured separately, up to another S$100,000.
  • Foreign currency, structured deposits and investments aren’t covered.
  • All full banks and finance companies are members, unless exempted by MAS.

What’s covered?

Singapore-dollar money held with a member bank or finance company in:

  • Savings, current and fixed deposit accounts.
  • Supplementary Retirement Scheme (SRS) accounts.
  • Money under the CPF Investment Scheme and CPF Retirement Sum Scheme, insured separately.
  • Trust and client accounts, insured up to S$100,000 per account.

What isn’t?

Foreign-currency deposits, dual-currency investments, structured deposits and other investment products.

How does the limit add up?

It’s per person, per bank. SDIC’s own example: someone with S$30,000 in savings, S$80,000 in fixed deposits and S$20,000 in SRS at one bank has S$130,000 there. S$100,000 is insured and S$30,000 isn’t. Opening more accounts at the same bank doesn’t raise the limit; spreading money across different member banks does, up to S$100,000 at each.

Why does it exist?

To protect small depositors and prevent bank runs. With the S$100,000 limit, about 91 per cent of depositors are fully covered. Compensation would be paid from a fund built up from premiums that member banks pay every year.

The WahLiao Verdict

For most people, S$100,000 per bank is more than enough. If your Singapore-dollar savings at one bank go well above that, and bank failure worries you, spreading them across banks is the simple fix. Don’t assume a product is insured because a bank sold it: check whether it’s a deposit or an investment.

Questions people ask

Are my US dollar savings covered?

No. Only Singapore-dollar deposits are insured.

Is a digital bank covered?

Yes, if it’s a scheme member. Digital banks such as Trust and MariBank list their insured deposits.

Does interest count?

Yes. Principal and interest together count towards the S$100,000.

How do I check if my account is covered?

Each member bank publishes a register of its insured deposit accounts.

Sources: SDIC, Deposit Insurance Scheme consumer guide (August 2024); CMS Holborn Asia on the increase to S$100,000; Dollars and Sense on SDIC facts; Standard Chartered, insured deposit register; MariBank on deposit protection; Trust Bank, deposit insurance. The Ledger explains; it does not advise.

Read next: This Month’s Fixed Deposit and Savings Rates · The Shared Responsibility Framework · Back to The Ledger

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