How to Open a CDP Account in Singapore

If you want to buy Singapore Savings Bonds, T-bills or shares listed on the Singapore Exchange with cash, the first step is to open a CDP account in Singapore — the Central Depository Securities account that holds those investments in your own name. It is free to open, the process is now almost entirely online, and most of the work is gathering the right documents and setting up one bank-account link. Here is who qualifies, what you need, and how each route works.

What a CDP account is

A CDP (Central Depository) Securities account is the account that safekeeps securities you buy on SGX — shares, REITs and Singapore Government Securities — directly under your name, rather than with the broker you traded through. MoneySense describes it as providing “integrated clearing, settlement and depository functions for account holders.” Because the holdings sit with CDP, you can view and manage them in one place even if you trade through several brokers.

Do you need a CDP account

For cash purchases of Government securities, yes. The Monetary Authority of Singapore (MAS) states that “CDP is the custodian for Savings Bonds” and that “you will need to have an individual CDP Securities account to hold your Savings Bonds if you are applying with cash.” The same individual CDP account holds T-bills you buy with cash, and it is where SGX shares are deposited.

There is one common way to avoid a CDP account: hold investments in a broker’s custodian (nominee) sub-account instead. That route can be cheaper for frequent share trading, but it cannot be used for the cash tranche of Savings Bonds or T-bills, which require the securities to sit in your own individual CDP account.

Who can open a CDP account

The eligibility bar is low but firm. According to MoneySense, before opening a CDP account you must:

Be 18 years old or above — MAS confirms “you need to be at least 18 years old to open an individual CDP Securities account.”
Not be an undischarged bankrupt.
Hold a savings or current bank account with one of these banks: Citibank, DBS/POSB, HSBC, Maybank, OCBC, Standard Chartered Bank or UOB. This bank account is what you will later link for payouts.

Foreigners and non-residents are not shut out: asked whether a foreigner can buy Savings Bonds, MAS answers “Yes.” Non-citizens simply use a different application route and provide more documents, covered below.

Documents you need

For an online sign-up, MoneySense lists two things:

A soft copy of either your Identity Card or passport (or 11B and passport for a full-time national serviceman).
One supporting document dated within the last three months: a bank statement from any MAS-licensed bank, a CPF statement, or your latest Notice of Assessment from IRAS.

If you have a tax residency outside Singapore, you will also declare it and provide a Tax Identification Number (for US persons, the relevant tax form) so CDP can meet its reporting obligations. Citizens and PRs applying through Singpass usually only need to upload a signature image, because Myinfo supplies the rest.

How to open a CDP account, step by step

There are three routes in; pick the one that matches your status.

Card comparing three CDP account routes: Singpass or Myinfo, manual online form, and through a broker, with who each suits

The three ways to open a CDP Securities account and who each suits. Source: MoneySense and SGX, Nov 2026.

Online with Singpass / Myinfo (citizens and PRs). Log in to the SGX CDP account-opening portal with Singpass. Myinfo pre-fills your particulars, so you mainly confirm details, upload a signature image, and nominate your bank account. This is the quickest route.
Online form with documents (foreigners, or anyone without Myinfo). Enter your particulars manually and upload your primary ID plus the secondary document listed above. Approval takes longer because the documents are checked by hand.
Through a securities broker. When you open a brokerage trading account, the broker can submit your CDP application for you at the same time. MoneySense lists 10 SGX member broking firms to choose from, including DBS Vickers, OCBC Securities, UOB Kay Hian, Phillip Securities, Maybank Kim Eng and iFAST.

Once your application is approved, CDP notifies you and issues your CDP Securities account number, which you will quote when you buy bonds or link a broker.

Setting up Direct Crediting Service (DCS)

DCS is the plumbing that pays money into your bank account. MAS explains that “DCS allows CDP to credit your Singapore-dollar cash entitlements such as dividends and interest payments into your designated bank account,” and — crucially — “your CDP Securities account must already have a DCS bank account linked up before you can apply for the Savings Bonds.”

You can set up or update your designated DCS bank account two ways, per MoneySense:

By phone: call 6535 7511, choose your language, then Option 5, with your identification number, CDP account number and bank account number ready.
Online: through the SGX Investor Portal, using your CDP internet account and bank account number.

Linking a trading account

A CDP account by itself does not let you trade shares — it only holds them. To buy and sell SGX-listed shares you also open a cash trading account with a broker and link it to CDP. The documents MoneySense lists for a trading account are a completed Trading Account Application Form, a completed CDP Linkage Form, a copy of your NRIC/IC or passport, and a document showing your name and address.

You can link more than one broker to the same CDP account, which lets you shop for the best commissions. Note the timing: MoneySense warns that once a trading account “has been successfully linked (which may take up to two weeks), you will be able to start trading.” For buying bonds with cash you do not need a trading account at all — the bank’s own channels (ATM, app, internet banking) handle SGS bond and T-bill applications straight from your CDP account.

Account types and the bond rule

CDP offers individual, joint and corporate accounts, but only the individual account can hold Savings Bonds and T-bills bought with cash — the rejection of joint CDP accounts for bonds is the single rule that trips people up most. If you want to invest jointly with a spouse, each person opens their own individual CDP account and invests separately, or you use SRS instead. SRS has its own route: Savings Bonds and T-bills can be bought with SRS funds through your SRS operator, with no CDP account required for the SRS tranche.

How long it takes and what it costs

Opening the CDP account itself carries no charge; you only pay brokerage commission and clearing fees when you actually trade shares, and those are set by your broker and SGX. Approval is a matter of a few business days for a clean Singpass application and longer when documents are checked manually — SGX confirms your account by email or post. Build in extra time before a specific bond issue closes: between CDP approval, DCS activation and (for shares) broker linkage of up to two weeks, the setup is not something to leave to the last day.

Frequently asked questions

Is it free to open a CDP account? Yes — there is no fee to open the CDP Securities account. You pay brokerage and clearing fees only when you trade shares; buying Government securities through a bank carries the bank’s own charges.

Can a foreigner open a CDP account? Yes. MAS confirms foreigners and non-residents can buy Savings Bonds; non-citizens apply through the manual online form and provide their passport plus a supporting document.

Do I need a CDP account to buy T-bills or SSB? For cash applications, yes — an individual CDP account with DCS activated. Joint CDP accounts are rejected. If you invest with SRS instead, you apply through your SRS operator without a CDP account.

Can I open a CDP account through my bank or broker? Yes. The 10 SGX member broking firms can submit your CDP application when you open a trading account, which is convenient if you also plan to trade shares.

How long before I can start trading shares? After your broker links the trading account to CDP, linkage “may take up to two weeks,” so allow for that on top of the CDP account approval time.

General information on opening a CDP Securities account, not financial advice. Eligibility, documents and procedures change; confirm the current steps and any fees with SGX, CDP and your bank before applying.