Open a Joint-Alternate Bank Account Today with POSB

Open a joint account today!

At a Glance

Enjoy instant account opening

Skip the branch visit and open your joint account instantly through our digital platforms.

View your expenses and save together

Offers a view of shared expenses and savings for both account holders.

Find a joint account that meets your needs

Learn about the features and benefits of My Account, My Account with Child and eMySavings Account.

Features & Benefits My Account


Recommended for	Customers who want the ability to transact in multi-currencies and do not want to maintain a minimum balance in their account.
How it works	Both applicants do not need to have an existing account to apply for this product. With this account, you can hold and convert up to 12 foreign currencies with no foreign exchange conversion fees.
Nationality	Singaporeans, Permanent Residents and Foreigners
Minimum Age	16 years old
Interest rate	0.05% p.a. on SGD Up to 0.05% p.a. on USD
Fees	No initial deposit and you will not need to maintain a minimum daily balance.

Learn more about My Account.

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My Account with Child


Recommended for	Children below 16 years old.
How it works	Parents need to have an existing savings or current account. With this account, your child can begin saving at a young age. As a joint account holder (parent/guardian), you can take advantage of the ability to hold and convert up to 12 foreign currencies without any FX conversion fees.
Nationality	Singaporeans, Permanent Residents and Foreigners
Age	Child - Below 16 years old (As of the date of application) Parent - Above 18 years old
Interest rate	0.05% p.a. on SGD Up to 0.05% p.a. on USD
Fees	No initial deposit and you will not need to maintain a minimum daily balance.

Learn more about My Account with Child.

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eMySavings Account


Recommended for	Customers who would like to earn higher interest by setting a fixed amount to be saved each month. You can amend your savings amount and crediting date to suit your needs.
How it works	Both applicants do not need to have an existing savings or current account to open a joint account. To earn a higher interest from the eMySavings account, you need to pre-set a monthly savings amount that must be credited from one of the joint applicant's savings or current accounts. By depositing an amount between $50 to $3000 before the 25th of each month, you can earn a higher interest of up to 0.25%.
Nationality	Singaporeans and Permanent Residents
Minimum Age	16 years old
Interest rate	Monthly savings of: Below or equal to $290: 0.05% p.a. Between $300 to $790: 0.20% p.a. Between $800 to $3000: 0.25% p.a.
Fees	No initial deposit and you will not need to maintain a minimum daily balance.

Learn more about eMySavings Account.

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Deposit Insurance Scheme

Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$100,000 in aggregate per depositor per Scheme member by law. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Retirement Sum Scheme are aggregated and separately insured up to S$100,000 for each depositor per Scheme member. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.

Managing your account

The joint accounts (eMySavings, My Account and My Account with Child) are joint-alternate accounts. This means that either party can access, deposit and withdraw from the account without the consent of the joint account holder.

When opening a Joint eMySavings and My Account, each account holder will be provided with a debit card. Prior to using the card for payments, withdrawals, and transfers, both parties must activate the issued card.

In the case of Joint My Account with Child, no debit card will be issued. Instead, parents are required to log in to digibank to activate the account.

Frequently Asked Questions

Can I apply for a joint account with another person who currently does not have an account with the bank?

You can open a Joint eMySavings and My Account, as neither account requires the applicants to have an existing account.
To open a Joint My Account with Child, you will need to have an existing DBS/ POSB savings or current account.

Who will receive the status of the joint account application?

For Joint eMySavings and My Account, both the main and joint account holders will be notified via email.
For Joint My Account with Child, the parent or guardian applying with the child will be notified via email.

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