We take a deep dive into the Deposit insurance Scheme (DI) and Policy Owners’ Protection Scheme (PPF) administered by the Singapore Deposit Insurance Corporation (SDIC) to find out if your deposits with a Singapore bank account are insured. What is deposit insurance? As responsible savers, it's important to understand the measures in place to protect your hard-earned money. The Deposit Insurance (DI) Scheme is your safety net when it comes to protecting your hard-earned savings. It’s like a safety blanket that covers small depositors in case of a bank failure. Don’t get us wrong, Singapore's banking system is renowned for its safety and regulation. The Deposit insurance is just another layer of protection for small depositors. Having a mechanism in place to guarantee the safety of your deposits can provide a sense of security and comfort, should unforeseen circumstances arise. This scheme is administered by the Singapore Deposit Insurance Corporation (SDIC) and it offers...