Different types of financial institutions have varying eligibility requirements. Among the common eligibility requirements for banks is that you need to be a Singaporean or PR with at least 21 years old up to a maximum of 65 years old. Some banks may require at least $30,000 as a minimum annual income requirement. Some may only need at least $20,000. During the application, you must also prepare for NRIC or recent computerised payslip or within 12 months’ CPF Contribution History Statement.
For Foreigners, an annual income of at least $40,000 is needed and this may vary on some banks. You need to prepare for Singapore work pass, copy of your passport and utility bills.