Does POSB have fall below fee?
Your deposit account will incur this service charge when your balance falls below the minimum average daily balance….POSB Account.
| Account Type | Minimum Average Daily Balance (MADB) | Service Charge |
|---|---|---|
| POSB Current/eCurrent Account | S$1,500 (Maintained in linked POSB Savings Account) | S$2.00 per month |
Is DBS Savings same as POSB savings?
Is DBS Savings same as POSB savings? If you are looking for personal savings accounts, you will be able to apply for either DBS savings accounts if you are an existing POSB customer and vice versa. The terms and conditions, interest rates, and mechanics of the accounts will be the same.
What is POSB passbook savings account?
POSB Passbook Savings Account A savings account for your day-to-day banking needs, issued with a passbook. Fees and charges: Service charge. (if average daily balance falls below. S$500)
How much interest does POSB savings give?
Let your salary bring you more from the moment it gets credited. POSB Save As You Earn (SAYE) Account gives you an additional 2% p.a. interest on the amount that you decide to save monthly from your salary to help you achieve your financial goals.
Can I have 2 POSB savings account?
Yes, you may visit any DBS/POSB branch if you would like to add a joint person to convert the personal account into a joint account.
Is POSB part of DBS?
Established on 1 January 1877 as the Post Office Savings Bank, the bank now operates as part of DBS Bank, which acquired the institution and its subsidiaries on 16 November 1998. Prior to its acquisition, the bank was a major public bank offering low-cost banking services to Singaporeans.
Does POSB issue passbook?
No. This is a complimentary service.
Can I replace POSB passbook at DBS?
Hi Sarina, replacement is available at DBS/POSB branches or via our hotline (1800 111 1111) / Live Chat (https://go.posb.com.sg/2rktKPY).
How do I check my POSB interest?
- View current and past month Bank & Earn Summary by tapping on your preferred month.
- View your interest tier and bank balance on the dashboard.
- Tap on the down arrow for number of categories applied for, interest earned this year and your eligible transactions tier.
What is a fall below fee POSB?
Fall-below fee. A fall-below fee is a type of fee incurred when your account’s daily or monthly balance drops below a stipulated level. The fee is S$2 for the POSB Current Account and S$0 for the My Account. Monthly fee. Select POSB current accounts come with monthly fees, such as the POSB Current Account’s S$2 a month charge.
Who is the POSB everyday savings account for?
Overall, POSB Everyday Savings Account is set to benefit those who maintain balances below S$500, including full-time NSFs (who for the most part, aren’t offered fee waivers elsewhere). If you’re a low income adult likely to maintain a balance below S$500, look no further than POSB Everyday Savings Account.
Is there a monthly fee for a POSB current account?
Select POSB current accounts come with monthly fees, such as the POSB Current Account’s S$2 a month charge. In the case of the POSB My Account, the monthly fee is waived for children below the age of 16 years old and seniors above the age of 60 years old.
How can I avoid the fall below fee?
To avoid incurring the Fall Below Fee, ensure that your account meets the Minimum Average Daily Balance. *Total SGD$ equivalent Minimum Average Daily Balance (MADB) across all currency wallets. Effective 16 June 2019, POSB Savings – SPEP Account and POSB Savings – AF have been renamed as POSB Everyday Savings Account.