Demographics: Diverse population of Chinese, Malay,
Indian and other races, covering a wide spectrum of
religions, cultures, and languages living harmoniously
together. The synergistic mix of ethnic groups offer
international students a wide spectrum of choices for living
and playing in Singapore.
Climate: Singapore has a warm and humid climate all
year-round, with temperatures ranging from 23 to 33 degrees
centigrade. Sunshine is the norm, with occasional rain,
especially during the year-end periods.
Cost of Living
The standard of living in
Singapore is amongst the highest in Asia. Compared to
countries in western continents, the cost of living here is
relatively low, and basic items like food and clothing are
very reasonably priced. An international student in
Singapore spends on average about S$750 to S$2,000 a month
on living expenses. This amount of course, varies depending
on your individual lifestyle and course of study.
These
estimated cost ranges below give a rough guide of the basic
expenditure an international student may incur per month:
The local currency is Singapore
dollars and cents. Other than the Singapore dollar, the US
and Australian dollar, Yen and British pound are also widely
accepted, at major shopping centres and restaurants.
A 5% Goods
and Services Tax (GST) is imposed on all purchases. Tipping
is not practised in Singapore as most hotels and restaurants
already levy a 10% service charge on bills.
Major credit
cards are generally accepted by establishments, including
American Express, Diners Card, JCB, MasterCard and Visa.
Another
widely-used method of payment is NETS, which allows you to
make payment with your Automated Teller Machine (ATM) card.
Banking
Most banks handle travellers'
cheques and change foreign currencies. Passports are
required when cashing travellers' cheques. A nominal
commission may be charged. Apart from banks and hotels, you
may change money at outlets which display the sign "Licensed
Money Changer".
Most banking
hours are usually from Mondays to Fridays, 9.30am - 3pm and
Saturdays, 9.30am - 11am/1pm. Some banks offer late night
banking and have extended hours on Saturdays. Some banks in
Orchard Road even open on Sundays. It is best to check with
individual banks on their operating hours.
You may need
to open a savings or checking account while in Singapore.
You will need to bring a minimum initial deposit (usually
$100) if you are below 21 years of age, as well as your
passport and Student's Pass/ letter of admission to your
educational institution. Upon opening your account, you will
be given an ATM card which gives you the added convenience
of being able to withdraw money from any ATM machine
operated by your bank. The ATM card also entitles you to
make payment via NETS (Singapore's cashless payment system).
You may
receive additional funds using bank drafts made out in
Singapore dollars and drawn from a Singapore bank. These may
be credited to your account and withdrawn in one to two
days. Cheques drawn on banks with no branches in Singapore
may take up to three weeks to clear.
