Savings Accounts

POSBkids Account

Impart the virtue of thrift to your child with POSBkids Account and receive attractive welcome gifts.

POSBkids Account - Kids Savings Accounts

  • Earn daily interest
  • No minimum deposit and fall-below fee until your child turns 21 years old.
  • Waiver of coin deposit fee till your child turns 16 years old.
  • Free automatic funds transfer from the parent's account.
  • Monthly eStatements for you to track your transactions and account balance.
  • Attractive account opening gifts:

    • A S$1 gift deposit

    • Free 6-month POPULAR Bookstore membership card for your child where he/she enjoys 10% off all POPULAR Bookstores#

# Applicable for children aged between 7 and 15 at the point of account opening. Eligible customer with email address registered with the Bank will receive an email within 2 months of account opening. While stocks last. Merchant's conditions on use of card apply.To find out more on Popular Card Discount Privileges, please click here.

Eligibility and Requirements

Available as a joint-account that allows you and your child to manage the account together. For children up to 15 years old.

Documentation For MinorsChild's AgeSingaporeanForeign Student
Parent / Legal GuardianGuardian in S'pore
FATCA Self CertificationBelow 15Form signed by Parent/Legal Guardian in person with proof of relationship (for non account holder);
OR
Form signed by Parent/Legal Guardian with attached copy of proof of relationship (signature verified against bank record)
Form signed by Guardian in person (for non account holder);
OR
Form signed by Guardian with attached letter signed by guardian stating his/her relationship with student will suffice (for account holder)
PDPA Marketing Preference13 & below
Consent Form For Use of ATM Card FacilityBelow 15Form signed by Guardian in person (for non account holder);
OR
Form signed by Guardian with attached letter signed by guardian stating his/her relationship with student will suffice (for account holder)
OR
Form signed by School Principal with Institution Stamp affixed.

Fees

Please refer to the Deposits Guide for the list of fees applicable.

How to Apply

Open a POSBkids Account conveniently today!

  • Existing POSB/DBS Account holders?

    Apply now

  • New to POSB/DBS?

    Make an appointment

    Bring along your NRIC/passport together with:

    • your child's birth certificate or student identification pass, if your child is a Singaporean/PR; and

    • your child's passport, if your child is a foreigner.

Terms and Conditions Governing POPULAR Bookstore Voucher Promotion

Frequently Asked Questions

What is this Coin Deposit Machine?

This is a new 24-hour self-service terminal that allows you to deposit coins at our selected branches/Electronic Banking locations.

Who can use this Coin Deposit Machine?

Customers who wish to deposit coins into any DBS Current/Autosave Account, DBS Savings Plus Account, POSB Current Account, POSB Savings Account may use this machine.

Can I deposit my coins to more than 1 account for each coin deposit transaction?

At any one time, you may deposit the coins into one account only.

What are the accepted denominations and currencies?

Only Singapore Dollar Currency is accepted. The accepted denominations are 1 cent, 5 cents, 10 cents, 20 cents, 50 cents and 1 dollar (Singapore coins - Second Series (floral) and Third Series (national icons and landmarks)).

How much coin can I deposit each time?

There is no minimum or maximum amount for each coin deposit. The maximum number of pieces deposited is however, subject to the load capacity of the machine.

Do I need to sort the coins according to denominations before depositing at the machine?

No, your coins can comprise a mixture of the accepted denominations of 1 cent, 5 cents, 10 cents, 20 cents, 50 cents, 1 dollar (floral series only).

Can I change the amount of my coin deposit after placing them into the coin deposit machine?

You may retrieve coins that are still in the coin tray and not inserted into the machine. Once the coins are inserted into the machine, it will be counted and deposited accordingly.

When will my account be credited?

Collection time is daily at 2pm (except Saturdays/Sundays/Public Holidays). Deposits before collection time will be credited on the same business day before 8pm while deposits after collection time will be credited on the next business day before 8pm.

Are there any charges levied for coin deposits?

The coin deposit fee through the coin deposit machine is S$0.012 per piece, and total fee rounded to the nearest one cent. The coin deposit fee for coins deposited into a POSBkids Account is waived until the child turns 16 years old. To enjoy the waiver, please drop the coin deposit receipt with your account number and mobile number into the Quick Cheque Deposit Box. Refund will be processed by the next business day (Monday-Friday excluding public holiday).

Who can help me if I encounter a problem using the machine?

You may call us at :
DBS Phone Banking : 1800-111-1111
POSB Phone Banking : 1800-339-6666