Formal Savings Statistics in Singapore (2026)
According to World Bank Global Findex data, 60% of adults in Singapore saved at a formal financial institution in 2021. Down from 66.9% in 2017 to 60% in 2021 (−6.9 percentage points). Singapore ranks #5 of 16 economies in East Asia & Pacific on this measure, and #17 of 142 globally.
Key Statistics
- Latest value (2021)
- 60% (2021)
- Formal Savings in Singapore as of 2021, the most recent observation in World Bank Global Findex data.
- Change since 2017
- −6.9 pp (2021)
- Down from 66.9% in 2017 to 60% in 2021 (−6.9 percentage points).
- Earliest value in this dataset (2011)
- 58.4% (2011)
- Earliest observation in this dataset, which covers 1990 onward (the source series may begin earlier). Up from 58.4% in 2011 to 60% in 2021.
- Peak value (2017)
- 66.9% (2017)
- Highest value in the available series; the 2021 value is 60%.
- Rank in East Asia & Pacific
- #5 of 16 (2021)
- Singapore ranks 5 of 16 countries in East Asia & Pacific with data, based on each country's latest value.
- Global rank
- #17 of 142 (2021)
- Singapore ranks 17 of 142 countries with data globally.
- East Asia & Pacific average
- 42.9% (2021)
- Singapore (60%) is above the average of 42.9% across the 16 countries in East Asia & Pacific with data.
- Among women (2021)
- 58.8% (2021)
- Value for women in Singapore, same 2021 World Bank Global Findex data.
- Among men (2021)
- 61.3% (2021)
- Value for men in Singapore, same 2021 World Bank Global Findex data.
- Gender gap (women minus men)
- −2.5 pp (2021)
- In 2021, the figure was 58.8% for women and 61.3% for men — 2.5 percentage points lower among women.
- Among the poorest 40% (2021)
- 51.4% (2021)
- Value for adults in the poorest 40% of households in Singapore in 2021.
- Poorest-40% gap vs national
- −8.6 pp (2021)
- The poorest 40% (51.4%) are 8.6 percentage points below the national figure (60%).
- Internet use in Singapore (2024)
- 94.4% (2024)
- 94.4% of the population in Singapore used the internet in 2024 (World Bank); shown for context only.
- Population (2024)
- 6 million (2024)
- Singapore had a population of 6 million in 2024 (World Bank); shown for scale only.
Trend, 2011–2021
| Year | % of adults (age 15+) | Change |
|---|---|---|
| 2021 | 60% | −6.9 pp |
| 2017 | 66.9% | +20.7 pp |
| 2014 | 46.2% | −12.2 pp |
| 2011 | 58.4% | — |
Frequently asked questions
What share of adults in Singapore saved at a formal financial institution?
60% of adults in Singapore saved at a formal financial institution in 2021, according to World Bank Global Findex data.
When did formal savings in Singapore peak?
The highest value in the available series was 66.9% in 2017; the latest (2021) value is 60%.
How recent is the formal savings data for Singapore?
The most recent observation is from 2021. World Bank Global Findex data is reported with a lag, so 2021 is the latest available year for Singapore.
Source & methodology
Source: World Bank Global Findex, indicator
fin17a, retrieved .
Figures are shown exactly as published in the source dataset; only the change column of the trend table is computed from adjacent published values.Read more on the methodology page. All figures are estimates and projections; this is not financial advice.
Last updated .