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POSB Everyday Savings Account
Features & Benefits
- Earn daily interest, credited at the end of every month.
- Earn cashback on your DBS or POSB Debit Card.
- Monthly estatements are easily accessible via our secure iBanking portal, choice of paper statements is also available.
Eligibility & Fees
- Applicants must be at least 16 years old to open this account.
- No initial deposit is required.
- A monthly S$2 fall-below fee apply, if your average daily balance for the month falls below S$500
- Enjoy waiver on fall-below fee if you meet any of the following criteria:
- This is your first account with us and it is opened online.
- You are below 21 years old.
- You are 60 years old and above.
- You are a full-time National Service man (whose allowance /salary is credited to this account).
- You are a recipient of public assistance.
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.