Privacy Policy

Singapore Deposit Insurance Corporation (SDIC) will exercise proper care in handling any personal data that you provide us, with a view to protecting your privacy, including putting in place the necessary controls to safeguard such data.

If you choose to send us a request, enquiry or an application that contains personal data, for us to process your request, enquiry or application or to render you a service, your personal data will be dealt with according to this policy.

In the normal course of business, SDIC does not collect or use any personal data from individuals.

There may be a need to collect and use personal data from you should you send in any request, enquiry or an application or if the Monetary Authority of Singapore (MAS) notifies SDIC to make payments out of the protection funds administered by SDIC for the benefit of the insured depositors or insured policy owners of a Scheme member 1 under the Deposit Insurance and Policy Owners’ Protection Schemes (DI-PPF Act). SDIC may then need to collect such personal data as is necessary to reply to your request enquiry or application or to provide specified services to insured depositors or insured policy owners of the Scheme member concerned.

We may share relevant data within SDIC, with our agents and service providers, or other Government agencies, so as to serve you more efficiently and effectively. We may also need to disclose personal data as required by law or a court order. We will not share your personal data with private organisations, except when such entities have been authorised to carry out specific services. We will retain your personal data only as necessary for the effective performance of our mandate under the DI-PPF Act.

SDIC may change or update this privacy policy without prior notice, in order to satisfy any new legal, operating or technology requirements which SDIC becomes subject to.

If you have a question on this policy, you may write in to SDIC’s Data Protection Officer at

1Definition of Scheme members:

  • DI Scheme members – All full banks and finance companies in Singapore are members of the Deposit Insurance (DI) Scheme, except those exempted by the Monetary Authority of Singapore.
  • PPF Scheme members – All insurers registered by MAS to carry on direct life business (other than captive insurers) or direct general business (other than captive insurers or specialist insurers) are members of the Policy Owners’ Protection (PPF) Scheme. MAS may, however, exempt life or general insurers from being members of the PPF Scheme.

Personal Data Protection Complaints Procedure

1. SDIC’s Policy on Personal Data Protection

SDIC is committed to managing your personal data in compliance with the Personal Data Protection Act 2012 (Act 26 of 2012). This document sets out the procedure through which SDIC manages complaints on personal data protection.

If you have any questions about your data protection rights, get in touch with us at

2. Types of complaints

All complaints about how SDIC manages personal data will be dealt with in accordance with the procedure set out below. Some examples of complaints that might be raised include:

  • Unlawful processing of Personal Data;
  • Misuse of Personal Data;
  • Unauthorised access to Personal Data; or
  • Loss of Personal Data

If your complaint falls outside the scope of this complaint procedure, you will be notified of the most appropriate process to be followed.

3. Rights under the Personal Data Protection Act

Under the Personal Data Protection Act, your personal data can only be collected, used or disclosed for specific purposes with your consent. In addition, you are entitled to know what data is held about you and how the information is being used; and where personal data is recorded incorrectly or not up-to-date, to have such personal data rectified.

A request to have access to information held about you will be handled in accordance with the Privacy Policy.

4. What to do if you have a complaint

If you have any concerns or problems with the way your personal data has been handled, please contact SDIC’s Data Protection Officer at To assist us in dealing with your complaint, please provide the following:

  1. Full name of the person lodging the complaint;
  2. Contact details;
  3. Name of the officer, employee (and his/her division) by whom the Personal Data was collected;
  4. Details of the complaint;
  5. Time frame over which the suspected wrongdoing occurred; and
  6. Documentary evidence in support of the complaint.

5. Complaints procedure

Upon receiving your complaint, SDIC’s Data Protection Officer will confirm that your complaint will be investigated and provide you with an estimate of how long you should expect to wait to receive a full response. While SDIC endeavours to respond as promptly as possible, response times will vary depending on the nature of the complaint.

SDIC’s Data Protection Officer will liaise with the relevant departments to investigate your complaint. You will be notified of the investigation outcome in writing within reasonable time and any action(s) taken if your complaint has been upheld, or your right of appeal where your complaint has been rejected.

6. Appeals process

If you are of the opinion that your complaint has not been resolved satisfactorily by SDIC’s Data Protection Officer, you may appeal to the CEO of SDIC within fourteen (14) days of receipt of the written notice of the Data Protection Officers informing you of the outcome of the investigations into your complaint.

*Personal data is defined in the Personal Data Protection Act 2012 (Act 26 of 2012) as data, whether true or not, about an individual who can be identified:

  1. from that data; or 
  2. from that data and other information to which the organization has or is likely to have access.