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At a Glance
Enjoy special savings rates
Preset monthly savings amount and crediting date
Amend your savings amount and crediting date anytime via iBanking
Features & Benefits
- A preset monthly savings account
(Flexible to save any amount from S$50 to S$3,000, in multiples of S$10, and a date1 between the 1st and 25th of the month)
- Earn interest on your monthly savings
- Change your savings amount and crediting date anytime via iBanking.
1To avoid any failed deduction, please ensure that there are sufficient funds in the debiting account by 7pm, one day before the monthly savings date.
Eligibility & Fees
- You must be at least 16 years old to open this account, and already have a DBS/POSB Savings/Current Account.
(Applicants below 18 years old must have a valid iBanking login or ATM/Debit Card to apply online)
- No applicable fees
Documents Required at Branch
- Original Singapore NRIC
- Original passport and relevant pass issued by the Immigration and Checkpoint Authority of Singapore; and
- Either one of the documents below for proof of address (issued within last 3 months)
- In-Principle-Approval letter issued by Ministry of Manpower (MOM); or
- Utility bill; or
- Telephone bill; or
- Bank or credit card statements/bank reference letter; or
- Letter from the human resource department of current employer
- Letters issued by government of other public bodies regulated for AML practices in a FATF member country.
- Letter from regulated insurance companies in a FATF member country.
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$75,000 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$75,000 for each depositor per Scheme member. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.