Savings Accounts

POSB eSavings Account

An all-in-one savings account with Debit Card, iBanking and eStatements for your day-to-day banking needs

POSB eSavings Account

With POSB eSavings, you can do so much more:

  • Bank on-the-go with POSB iBanking and mBanking. It's real time banking with no queue!
  • Monthly eStatements, the faster and easier way to view your transactions anytime, anywhere via iBanking.
  • Receive cashback on your DBS/POSB Debit Card - an enhanced ATM Card.
  • Earn daily interest, credited at the end of every month.
  • No initial deposit required.
  • Enjoy hassle-free conversion if you are an existing POSB savings account holder.

Eligibility and Requirements

You are eligible for this account if you are at least 16 years old. You have the choice of personal or joint-alternate account type. If you are below 16 years old, you may open a POSBkids Account.

Fees

A $2 fall-below fee will apply if your average daily balance for the month falls below $500. Enjoy a waiver of the $2 fall-below fee if you meet any of the following criteria:

  • 21 years old and below.
  • 62 years old and above.
  • Full-time National Service man (whose allowance/salary is credited to this account).
  • A recipient of public assistance.

Please refer to the Deposits Guide for the complete list of fees

How to Apply

  • Existing POSB Savings Account holders

    Convert to POSB eSavings in 3 simple steps:

    Step 1: Login to iBanking
    Step 2: Select Service Request > Request for POSB Passbook Conversion on the left panel
    Step 3: Confirm your account details and click submit

    Login now

  • Other POSB/DBS Account holders

    Login now

  • New to POSB?

    Make an appointment

Note:

  • Your account number and all other services will not be affected by the conversion.
  • If you do not currently have a debit card, you will receive a POSB GO! Debit Card to replace your ATM card that is linked to your POSB eSavings account (if any) upon conversion.
  • If you already hold a debit card, POSB eSavings will be the new primary account for your existing debit card and ATM card if linked to your POSB savings account. If your debit /ATM card primary account is another account(s), there will be no change.