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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.

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