Trust Bank Launches Freedom as Singapore’s First Stockback Credit Card

Introductory Stockback Rate

The introductory stockback rate offered on eligible spending until 31 December 2026.

Investment Threshold

S$10

The minimum amount of rewards needed before they can be invested in a US stock or ETF.

Young Investors Starting Early

74%

Percentage of active investors aged 18 to 24 who made their first investment by age 20.

§ 01 Executive Snapshot

What: Trust Bank has launched the Freedom Card, Singapore’s first credit card to offer stockback rewards.
Who: Trust Bank, CEO Dwaipayan Sadhu, Visa.
Why it matters: This innovation aims to encourage investment among young Singaporeans by allowing them to invest rewards from everyday spending into US stocks and ETFs.

Trust Bank offers an introductory 3% stockback on eligible local and overseas spending until 31 December 2026.
Customers can switch between stockback, bonus cashback, or unlimited cashback every quarter, with bonus cashback offering up to 15% on selected categories.
The Freedom Card allows investments in 50 eligible US stocks or ETFs once rewards reach S$10.

The Freedom Card is an evolution of Trust’s Cashback Card, enhancing the customer experience by integrating investment opportunities into everyday spending.
Trust Bank’s Everyday Investor Report 2026 highlights a trend of younger Singaporeans investing earlier, indicating a shift in investment attitudes among the youth.

The launch may disrupt traditional credit card offerings by blending rewards with investment opportunities, appealing to a younger demographic.
Long-term, this could foster a culture of investing among young adults in Singapore, potentially leading to increased market participation.

Potential risks include customer hesitation due to a lack of investment confidence, with 44% of non-investors citing fear of losing money.
Competition from other fintech solutions that also aim to simplify investing could pose a challenge to the Freedom Card’s adoption.

Future developments to watch include the introduction of miles as a reward option and any uptake metrics for the Freedom Card.
Monitoring the impact of the card on young investors' behavior and the overall investment landscape in Singapore will be crucial in assessing its success.

§ 07

What is the Freedom Card?

The Freedom Card is Singapore’s first credit card launched by Trust Bank that offers stockback rewards for everyday spending.

How does the stockback reward system work?

Customers earn an introductory 3% stockback on eligible spending, which can be invested in 50 eligible US stocks or ETFs once rewards reach S$10.

Why is the Freedom Card significant for young Singaporeans?

It encourages investment among young Singaporeans by allowing them to invest rewards from their spending, reflecting a shift in investment attitudes.

Who launched the Freedom Card?

The Freedom Card was launched by Trust Bank, under the leadership of CEO Dwaipayan Sadhu, in partnership with Visa.