Best Regular Savings Plans in Singapore 2020

Regular savings plans (RSPs) are a handy way to regularly put away money for the future, while pursuing higher returns and the benefits of dollar-cost averaging. Our team has identified the best RSPs available to help you find one that suits your needs.

Regular Savings Plan Comparison

Regular Savings Plans (RSPs) are attractive to those that want to invest a set amount of money each month, without incurring high fees or worrying about timing the market. These plans come in a variety of forms, but all require monthly investments, which help individuals take advantage of dollar-cost averaging. Dollar-cost averaging is the technique of effectively purchasing more shares when prices are low and fewer shares when prices are high. This method helps individuals to lower their total cost of investing, compared to a one-time, lump sum investment.

The best regular savings plans come with low minimum contributions (S$50 - S$100) and affordable fees. For these reasons, they are popular among a wide range of consumers, including young adults, National Service Members, students and any individual seeking a long-term investment.

Best Managed Regular Savings Plan: Saxo Markets

Consider this if you prefer a regular savings plan with actively managed portfolios and competitive fees

Minimum Initial Investment S$2,000
Minimum Monthly Contribution S$100

Saxo's Regular Savings Plan gives individuals access to portfolios managed by Saxo Markets and BlackRock. Not only that, Saxo's savings plans come with competitive fees (0.75% annually) and a low minimum monthly contribution requirement (S$100). Additionally, Saxo gives customers flexibility in terms of their preference for risk, Saxo does require a minimum initial investment of S$2,000 (previously $10,000). However, given that Saxo's Regular Savings Plans are much cheaper than other types of managed portfolios (e.g. wealth managers).

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Initial Investment RequirementS$2,000
Minimum Monthly ContributionS$100
Annual Service Fee0.75%
Transaction FeesN/A

Cheapest Regular Savings Plan: FSMOne ETF RSP

Consider this if you seek the lowest cost option

FSMOne's ETF-based Regular Savings Plan (RSP) is a great option for those seeking to make small investments each month at a very low cost. FSMOne charges just 0.08% (min. S$1) per transaction and allows individuals to contribute as little as S$50 each month, which is lower than any other savings plan in our review. Additionally, FSMOne's RSP gives individuals access to more than 40 ETF counters listed international exchanges, which is wider market access than many of its competitors offer.

ETFsUnit TrustsManaged Portfolio
Initial Investment RequirementN/AN/AN/A
Minimum Monthly ContributionS$50S$100S$500
Annual Service FeeN/AN/A0.35% - 0.50%
Transaction Fees0.08% (min. S$1)N/AN/A
Platform FeeN/A0.05 - 0.0875% per quarterN/A

Best Promotion: DBS Invest-Saver Savings Plan

Consider this if seek a regular savings plan with a competitive promotion

The DBS Regular Savings Plan (DBS Invest-Saver) is currently offering up to S$125 cashback in the form of rebates on transaction charges, which is the most competitive promotion on the market. DBS's Regular Savings plan comes with a manageable minimum monthly contribution of S$100 and offers access to 4 ETFs and a range of unit trusts. DBS also offers a competitive savings account which can be seamlessly linked to its Invest-Saver Savings Plan. DBS does not charge the lowest fees among regular savings plans providers, but its promotion makes it an attractive option, especially for those with DBS Multiplier Savings Accounts.

Initial Investment RequirementS$1,000
Minimum Monthly ContributionS$100
Annual Service FeeN/A
Transaction Fees0.5% - 0.82%
Platform FeeN/A

Best Regular Savings Plan for Kids: POEMS Junior Share Builders Plan

Consider this if you want to open a regular savings plan for your child

The POEMS Junior Shares builder plan is a great choice for those seeking to open savings plans for their children. Unlike most other regular savings plans, the Junior Share Builders Plan allows individuals to begin investing for their children under the age of 18. This can be a good way to commit to regularly putting away money on behalf of your child.

Initial Investment RequirementS$100
Minimum Monthly ContributionS$100
Annual Service FeeN/A
Transaction FeesS$6-S$10

How to Choose a Regular Savings Plan

There are generally 3 categories of regular savings plans in Singapore. The plans are similar in that they all leverage dollar cost averaging and require a set contribution each month. They differ in terms of their investment approach and fee structure. Depending on your preferences, each type of plan has its advantages and drawbacks.

  • Regular Shares Savings (RSS) Plan
  • Regular Savings Plans (ETFs)
  • Managed Regular Savings Plans (Mutual Funds/Unit Trusts)

Regular Shares Savings Plans:

Regular Shares Savings plans allow individuals to invest in index funds or shares of companies, based on their monthly contributions. These are attractive to those that like to choose their own investments. These plans typically charge fees per transaction (usually on a monthly basis).

Regular Savings Plans - ETFs

In addition to investing in index funds and stocks, individuals can also choose to invest in ETFs. These are usually the lowest cost option, with slightly lower than average transaction costs. They also offer some level of diversification, since investors are able to invest in funds with a variety of compositions.

Actively Managed Regular Savings Plans

Last, investors can choose to contribute their funds to actively managed funds, such as unit trusts. These plans are noticeably different from the others because they charge a management fee based on the total account balance on an annual basis.

Regular Savings Plans in ValueChampion's Review
Citibank Regular Savings PlanDBS Invest-Saver
FSMOne RSP ETFFSMOne RSP Managed Portfolio
FSMOne RSP Unit TrustOCBC Blue Chip Investment Plan
POEMS Junior Share Builders PlanPOEMS Recurring Plan RSP
POEMS Share Builders PlanPOEMS Unit Trust Regular Savings Plan
POSB Invest-SaverSaxo Regular Savings Plan
Standard Chartered Regular Savings PlanUOB Regular Savings Plan
William Hofmann

William is a Product Manager at ValueChampion Singapore, focusing on banking and SMEs. He previously was an Economic Consultant at Industrial Economics Inc.

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