POSB Bank (Post Office Savings Bank) is a Singapore-based bank that offers consumer banking services. Established on January 1, 1877, it is one of the oldest operating banks in Singapore.
POSBs currently operates as part of DBS Bank, which acquired the institution and its subsidiaries on November 16, 1998.
The POSB bank is known for offering low-cost banking services while keeping costs particularly low on basic savings accounts and for children, full-time students under 21, and national military personnel working full-time, offering products and services to meet the financial needs of all Singaporeans.
In addition to the network of bank branches, you can also bank with the company using its Digital Lobby branches for 23 POSB VTMs, ATMs, and cash deposits or 864 ATMs to withdraw cash across the island, as well as online & mobile banking.
Among the POSB Singapore services are personal banking products such as savings accounts, investments, insurance, personal loans, and online banking.
POSB Bank Singapore: Frequently Asked Questions
- Phone: 1800 111 1111 or +65 6327 2265 from overseas
- Online at www.dbs.com.sg/bankonline
- Using digibank mobile app
- In one of DBS or POSB Bank Branches
- Using POSB Contact Centre at 1800 111 1111
- POSB Cashback Bonus Account This type of account does not require minimum account balance and allows to earn up to 130 SGD/month.
- POSB My Account This type of account is the simplest way to start with POSB Bank.
- eMySavings Account Special savings account with an option to save money with POSB every month easily.
- POSB SAYE Account This account allows getting an extra 2% interest annually when crediting salary.
- POSB Payroll Account This type of account is designed especially for ex-pats with Work Permit in Singapore to receive salary payments.
- POSB Payroll Account for Foreign Domestic Workers This account is designed to receive salary payments via online fund transfers and comes with POSB ATM NETS Contactless Card.
- POSB Smiley Child Development Account (CDA) This is a savings account for parents with a newborn, where the government of Singapore will match the savings amount, up to a certain limit. It allows earning up to 2% interest rate annually.
- POSB Smart Buddy This account is designed specifically for children and comes with in-school savings and payments using a card/watch. Parents can manage daily allowance, monitor expenses, track savings, auto-transfer savings to kid’s account, and set alarms and reminders.
Through online applicationChoose a type of account at https://www.posb.com.sg and click "APPLY NOW" to apply for a personal or joint-alternate account variation.
Apply for digibank Online- Go to https://internet-banking.dbs.com.sg - Then open your digibank savings account in just a few minutes - Then Download the digibank application - Fill in your personal details and complete KYC - Activate the digibank savings account through the app.
Branch applicationLocate a Branch by using POSB Bank Locator and make an appointment.