DBS, POSB Savings Accounts Rates Decline

DBS, POSB Savings Accounts Rates Decline

DBS bank has revised downwards its interest payment for its range of savings accounts including POSB Passbook, DBS Autosave (Personal) Accounts..

The latest DBS, POSB savings accounts rates details are here:

The previous DBS, POSB savings accounts rates are below:

The interest rates for POSB Passbook, POSB MySavings, DBS Savings Plus, DBS Autosave have been affected in the latest round of changes.

Thank you for reading Singapore Savings Account Rates, where we update you on the changes in the savings accounts interest rates in Singapore.

DBS Savings Accounts 2009

DBS Savings Accounts 2009
as at 13 February 2009

An avid reader of Singapore Savings Account Rates asked us why we do not keep track of all savings and current accounts for each bank in Singapore. We did not think anyone would be interested to learn what are ALL the interest rates of savings and current accounts for a particular bank in Singapore through our site.

But now that a reader has brought it up, we shall start a series on savings and current account interest rates of individual banks in Singapore.

Today we shall scrutinize DBS (Singapore) savings and current account rates.

DBS savings and current accounts with the highest and best interest rates are listed here.

DBS Savings Plus, 0.475%
DBS Autosave (Personal), 0.6%
DBS Autosave (Non-personal), 0.45%
POSB Passcard, 0.475%
POSB Passbook, 0.475%
MySavings Account (Non-Treasures), 1.5%
MySavings Account (Treasures
Preferential), 1.6%
Corporate Current Account, 0%

The various account deposit ranges and their respective interest rates payable are listed in the table. If you wish to know the current bank rates before investing money, check out the Internet front page of DBS bank.

Thank you for reading Singapore Savings Account Rates. If you wish us to feature any bank’s savings and current account rates,

DBS Autosave Account Rates

DBS Autosave Account Rates

DBS Autosave Account is an interest-paying chequeing facility. That means that it functions like a savings account and a current account.

DBS Autosave Account earns daily interest on the full balance. You can expect to automatically receive a new chequebook each time you're down to your last few cheques.

Detailed monthly statement of all your transactions are provided in the DBS Autosave Account. It comes with a DBS BankCard that's activated instantly where access to over 800 DBS/POSB ATMs and 12,500 NETS outlets is available in Singapore.

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.

Overdraft facility is provided with DBS Autosave account if your annual income is at least S$30,000.

The usual self-service banking facilities like ATMs, Cash Deposit Machines and Quick Cheque Deposit Boxes or Phone Banking and iBanking services are also available.

Fees to use DBS Autosave apply such as a S$2 monthly account fee and $7.50 fall-below fee if the average daily balance falls below S$3,000.

Applicants to the DBS Autosave account must be at least 21-years-old. with a minimum initial deposit of S$3,000.

DBS Autosave Account rates are:
First $3000 = 0.25% p.a.
Next $47000 = 0.35% p.a.
Next $50000 = 0.45% p.a.
Above $100000 = 0.6%

DBS Savings Plus Account

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)

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.

Singapore's DBS, OCBC, UOB Savings Account Rates

Singapore's DBS, OCBC, UOB Savings Account Rates
(as at 14 June 2008)
(please check respective sites for latest rates)

These are the rates quoted by the three major local banks in Singapore. DBS, OCBC and UOB have rates that are very close to one another for the smaller sums of cash deposits.


Note that there are many other types of saving accounts provided by DBS, OCBC and UOB. The terms and conditions on use of the various saving accounts must be read carefully before choosing to open an account. Rates are only one aspect on the choice of opening or closing a savings account.

These are OCBC's savings account rates:



These are UOB's saving account rates: