POSB SAYE Account

Frequently Asked Questions

Can I have multiple POSB SAYE Accounts?

Each customer is only eligible to have one POSB SAYE Account.

What are the criteria that I must fulfill to receive the additional 3.5% p.a. interest from POSB SAYE Account?

To receive the additional 3.5% p.a. interest, you must fulfil the following 3 criteria:

  1. Credit your monthly salary into a POSB/DBS account and select it as the debiting account for the monthly savings contribution into the POSB SAYE Account. Salary must be credited via GIRO, with transaction reference codes 'SAL' or 'PAY'
  2. Successful monthly savings contribution to your POSB SAYE Account each month for 24 months
  3. Make no withdrawal from the POSB SAYE Account
What happens if I make a withdrawal from my POSB SAYE Account?

If a withdrawal is made in the month, this will result in the previously accumulated additional 3.5% p.a. interest to be forfeited.

When will POSB SAYE Account’s additional 3.5% p.a. interest be credited?

The additional 3.5% p.a. interest will be deposited in the 13th month & 25th month.

Is there a minimum balance requirement and service charge for the POSB SAYE Account?

No, there is no minimum balance required and no service charge for this account.

When will the monthly deduction happen?

You can select a debiting date between 1st to 25th of the month.


To avoid any failed deduction, please ensure that there are sufficient funds in the debiting account by 7pm, one day before the chosen monthly savings date. You may amend the monthly savings arrangement for your POSB SAYE Account via digibank online, find out more here.

What happens if there are failed deductions from my debiting account?

For POSB SAYE Account, you will receive base interest (tiered according to your monthly savings amount),


If there is failed deduction for the month, the base interest will be reverted to 0.05% p.a., and you will not be accorded the additional 3.5% p.a. interest for that month. Manually transferring funds into your POSB SAYE account will not be considered as successful contribution.


If there are 3 consecutives failed debiting attempts your POSB SAYE Account will be closed by the bank.

What happens if I would like to close the POSB SAYE Account early? Is there an early closure fee?

The accumulated additional 3.5% p.a. interest will not be accorded if the account is closed before 13th or 25th month of crediting. There are no early closure fees.

I opened my POSB SAYE Account prior to 1 November 2022, will I receive the additional 3.5% p.a. interest?

Existing POSB SAYE Account holders who fulfil the conditions will be eligible to receive the additional 3.5% p.a. interest from November 2022 onwards. Additional interest earned prior to 1 November 2022 will remain at 2.0% p.a.