DBS Savings Plus Account
source: DBS website.
Today in Singapore Savings Account Rates blog, we highlight a savings account of one of the big three local banks in Singapore. The DBS Savings Plus Account is a savings account that earns you daily interest on your deposits. What makes it the ‘plus’ account is that this savings account comes bundled with a bankcard.
The major feature of the DBS Savings Plus Account that differentiates it from a normal savings account is the DBS BankCard feature. This bankcard is activated instantly when you apply.
In Singapore, the DBS BankCard lets you access over 800 DBS/POSB ATMs and 12,500 NETS outlets. Overseas, you can withdraw cash at over 180,000 PLUS ATMs and enjoy cashless shopping at about 240,000 retail outlets that display the VISA Interlink sign.
The DBS Savings Plus Account offers self-service banking facilities. This saves time and you can do your banking at ATMs, Cash Deposit Machines and Quick Cheque Deposit Boxes or via Phone Banking and iBanking services.
The other feature of DBS Savings Plus Account is the standard ATM services that are similar to other banks in Singapore. These are:
Cash Withdrawal
Account Balance Enquiry
Funds Transfer
Bill Payment
Electronic Share Application (ESA)
Telco Top-Up/Purchase
PIN change/Application
Cashline Application
Electronic Payment for Shares (EPS)
source: DBS website.
Today in Singapore Savings Account Rates blog, we highlight a savings account of one of the big three local banks in Singapore. The DBS Savings Plus Account is a savings account that earns you daily interest on your deposits. What makes it the ‘plus’ account is that this savings account comes bundled with a bankcard.
The major feature of the DBS Savings Plus Account that differentiates it from a normal savings account is the DBS BankCard feature. This bankcard is activated instantly when you apply.
In Singapore, the DBS BankCard lets you access over 800 DBS/POSB ATMs and 12,500 NETS outlets. Overseas, you can withdraw cash at over 180,000 PLUS ATMs and enjoy cashless shopping at about 240,000 retail outlets that display the VISA Interlink sign.
The DBS Savings Plus Account offers self-service banking facilities. This saves time and you can do your banking at ATMs, Cash Deposit Machines and Quick Cheque Deposit Boxes or via Phone Banking and iBanking services.
The other feature of DBS Savings Plus Account is the standard ATM services that are similar to other banks in Singapore. These are:
Cash Withdrawal
Account Balance Enquiry
Funds Transfer
Bill Payment
Electronic Share Application (ESA)
Telco Top-Up/Purchase
PIN change/Application
Cashline Application
Electronic Payment for Shares (EPS)
DBS Savings Plus Account allows you to use the Cash Acceptance Machine Services to deposit cash into your account without queuing at a bank counter. These machines allow depositors to cash deposit in 3 different denominations (S$10, S$50 and S$100). The maximum of 100 notes per deposit applies. Depositors can cash deposit into own account as well as other DBS/POSB accounts.
Do not forget that there are fees for using DBS Savings Plus Account. There is a S$2 fall-below fee if the average daily balance falls below S$500.
DBS Savings Plus Account requires that depositors must be at least 12-years-old. The minimum initial deposit is S$500 to open a DBS Savings Plus Account.
For Singapore Savings Account Rates readers, we know you are mainly interested in the interest rates of the DBS Savings Plus Account. What are the interest rates?
DBS Savings Plus Account Interest Rate:
Amount / Percent Per Annum
First $3000 0.2500
Next $47000 0.2750
Next $50000 0.3750
Remaining balance above $100000 0.4750
While the interest rates may appear unattractively low when compared to rates for Singapore Fixed Deposits and Singapore Treasury Bills, those who want safety and stability in a bank in light of financial turmoil in global banks, may wish to bank with confidence on this DBS Savings Plus Account.
Read more in Singapore Savings Account Rates.
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