Your question: How can I open POSB account in Singapore?

Can foreigner open POSB bank account in Singapore?

Online account application is only available for Singaporeans, Permanent Residents and Foreigners with valid Singapore work pass (e.g. employment / S pass) or student pass.

How much do I need to open a POSB account?

“How much to open a POSB savings account” is a popular question you might have. Most of the accounts don’t require any minimum amount to open but you need to take note that some accounts do charge a fall-below fee. So, keep a minimum balance of $500 in your POSB savings account after the account is opened.

How do I open a POSB bank account?

How to apply for digibank?

  1. Download the digibank Mobile app from the App Store, Google Play or AppGallery.
  2. Launch the digibank Mobile app and tap on More.
  3. Under Apply, tap on New to digibank.
  4. Select your Identity Type, key in your Identity Number and input your Date of birth, click on Next.

How can a foreigner open a bank account in Singapore?

To open a bank account as a foreigner in Singapore you’ll need:

  1. Proof of Identity (Passport or ID card)
  2. Proof of Address (Utility bills, etc.)
  3. Employment Visa, S Pass, or Student Visa.
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Can a 16 year old open a bank account without parents in Singapore?

What is the minimum age to open a bank account in Singapore. One can open a time deposit or current account in Singapore at the age of 18 years old. However , you may also open a savings account at the age of 15 years. Parents or kids guardians are also allowed to open accounts on behalf of those aged below 18.

How much do I need to open a bank account in Singapore?

Compare a range of banks accounts in Singapore

Name Monthly fee Minimum Initial Deposit
OCBC Basic current account S$0 S$1,000
UOB i-ACCOUNT S$2 S$3,000
Citibank Tap and Save Account S$0 S$15,000
SC SuperSalary S$0 S$0

Can I open a bank account with no money?

The short answer is yes. You don’t need a deposit to open a bank account, if you choose a bank that doesn’t require one. A handful of online-only banks and banks with online banking do not require a deposit.

Can I open 2 POSB accounts?

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.

What is the minimum amount to open a DBS savings account?

DBS Account

Account Type Minimum Average Daily Balance (MADB) Service Charge
DBS Savings Account (Opened before 12 September 2011) S$500 S$2.00 per month
DBS Savings Account (Opened from 12 September 2011) S$1,000 S$2.00 per month
DBS Multiplier Account* S$3,000 S$5.00 per month

Which bank has no minimum balance?

Latest Interest Rate for Zero Balance Savings Account

Bank Name of zero-balance savings account Interest rate
Kotak Mahindra Bank 811 4% to 6%
Standard Chartered Bank Basic Banking Account 0.5% to 4.90%
HDFC Bank Basic Savings Bank Deposit Account 3.50% to 4%
Axis Bank Basic Savings Account 3.50% to 4%
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