DBS or Development Bank of Singapore is one of the leading banks across the globe that offers great financial services and products. They are designed to meet the changing needs and requirements of the customers. The DBS eMySavings Account is a unique financial product that allows you to save money on a monthly basis. Maintaining this account is hassle free and you can also earn special rates of interest on your money.
Features and Benefits of DBS eMySavings Account:
There are several features and benefits that come with the DBS eMySavings Account. They are follows:
- You can enjoy special rates of interest with the DBS eMySavings Account.
- It is an extremely convenient way of saving your hard earned money. The amount that you wish to save can be preset. Thus, on the savings date some amount will get saved. The dates between which you can save money in the account are 1st and 25th of every month. The amount can be anything starting from S$50 up to S$3,000 per month. The amount should be in the multiples of S$10.
- You can enjoy great flexibility with DBS eMySavings Account. You can amend your crediting date and the savings account.
- Avail access to your account through a wide range of ATM (automated teller machine) network. You can also choose to access your account using the digibank application your phone or via iBanking (online banking).
- You can enjoy e-statements that get delivered to you on quarterly basis.
Rates of Interest:
|Amount of deposit||Rates (per annum)|
|S$50 to S$290||0.0500%|
|S$300 to S$790||0.2000%|
|S$800 to S$1490||0.2500%|
|S$1500 to S$3000||0.2500%|
|In case of account closure during the month, any withdrawal or failure of crediting of the monthly savings.||0.0500%|
How to apply?
If you wish to apply for DBS eMySavings Account, you can do it in the following ways:
- You can apply for this account via iBanking.
- You can apply via Debit Card / ATM and PIN.
There are several documents that are required when you want to apply for DBS eMySavings Account. They are as follows:
- Citizens of Singapore and permanent residents of Singapore must produce their NRIC at the time of application for DBS eMySavings Account.
- The foreigners must produce passes that are issued by Checkpoint Authority of Singapore and the Immigration office.
- Either one of the following documents is required as a proof of address:
- Utility bills.
- Approval letter issued by the MOM (Ministry of Manpower).
- Telephone bills.
- Rental agreement.
- Credit Card Statements / Bank Statements / Bank Reference Letter.
- Management Fee Bills.
- Human Resource letter from the current company of employment.
To apply for the DBS eMySavings Account, you must meet the following eligibility criteria:
- Your minimum age must be at least 16 years when you wish to apply for this savings account.
- You must already have a Savings Account or a Current Account associated with the Development Bank of Singapore (DBS) or Post Office Savings Bank (POSB).