UPDATED AS OF 21 Sep 2021
UPDATED AS OF 21 Sep 2021
Lowest Business Banking Facilities
SMART-TOWKAY.COM
Lowest Temporary Bridging Loan Rate
3.25%
Per year
Lowest Business Term Loan Rate
6%
Per year
Lowest Home Loan Rate
0.98%
Per year
Lowest P2P Biz Loan Rate
1%
Per month
Lowest Commercial Property Rate
1.235%
Per year

What are the required documents for Corporate Account Opening?

Generally speaking, there are a few required documents.


A Completed Corporate Account Opening Form with the bank in question, signed by the signatories as listed in the board resolution.


A Board of Directors Resolution that would sanction and authorize the opening of the account by the authorized signatories.


A Certified True Copy of Resolution that would sanction and authorize the opening of the account by the authorized signatories. Most banks will have their own format.


Certified True Copy of Certificate of Incorporation, certified by company’s secretary or director(s).


Certified True Copy of Company’s Business Profile from Company Registrar by company’s secretary or director(s).


Certified True Copy of Company’s Memorandum and Articles of Association (MAA) by company’s secretary or director(s).


Certified True Copies of Passport (or Singapore IC) and Residential Address Proof of the Directors, Signatories, and Ultimate Beneficiary Owners.

For more info on the required documents: Click here

What are the main benefits of opening a Business Current Account?

A Business bank account would allow your company to better organize your finances so that you can pay and receive funds in a joint account that is linked to the company, instead of the individual.


 With a business bank account, you can delegate the payment of transactions to your secretary, and allow them to complete payments authorized by you. Alternatively you can give an agent authority over the account and allow them to complete transactions themselves.


 

Are there any additional fees I need to be aware of?

Please do refer to the individual bank’s terms and conditions for more information, it should also be stated in our comparison.

How long is the whole application process?

While the process for applying for a business bank account is usually quite easy, you may face additional documentation and process requirements. For residents of the following country, you may face longer waiting times.


Iran


Democratic People’s Republic of Korea (DPRK)


Algeria


Ecuador


Indonesia


Myanmar

So I heard there's a CASH Incentive signing up with Smart-Towkay?

Yes, we work with our partners regularly to give additional incentive for our users when signing up corporate accounts through our site.



Check out our ongoing promotion here!



Have questions regarding our promotion? 


Contact us through our whatapps or email and our friendly consultants will guide you


 

I can't decide which business bank account is suitable for me, can you help?

Check out our blog on the Best Business Banking Account in Singapore 2021!



Else contact us through our whatapps or email and our friendly consultants will guide you.

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