Chart of the Day: 98% of Singaporeans have a bank account
Its rate still lags behind Japan and Israel.
This chart from Allianz Global Wealth report shows that 98% of Singaporeans aged 25 and above own a bank account, making it one of the highest rates in Asia. In 2011, 99% of Singaporeans had bank accounts.
The Lion City falls behind Israel where 98.9% aged 25 and above holds a bank account. Meanwhile, Japan saw the highest numbers of citizens with bank accounts as 99.2% of them have as of 2017.
Bank deposits were the most popular type of investment in Asia back in 2017, with 74.5% having a bank account.