DBS Savings Account Singapore

DBS offers different types of savings accounts, with each one designed to offer unique benefits. From a multi-currency account that lets you save and transaction in 12 foreign currencies, to a multiplier account that lets you earn higher interest based on the value of your monthly transactions, DBS offers lets you choose an account that works the best for you. Learn more about these accounts and various fees and charges associated with them.

Types of Savings Accounts Offered by DBS

  • DBS Multiplier Account
  • DBS Multi-Currency Account
    • eMulti-Currency Autosave (eMCA)
    • eMulti-Currency Autosave Plus (eMCA+)
    • Multi-Currency Autosave Plus (MCA+)
  • eMySavings Account

Features and Benefits

  • Earn up to 3.5% p.a.
  • Earn special interest rates on your salary without any minimum deposit or daily balance requirement.
  • Enjoy full access to 12 foreign currencies and buy them at favourable rates with DBS Multi-Currency Account.
  • Get updates on FX rates for your preferred currency.
  • You can link your credit/debit card with your savings account.
  • Track your qualifying transactions through iBanking and eStatements.
  • Enjoy cheque facilities.

Fees Applicable on the DBS Accounts

The kinds of charges you can incur are as follows:

  • Fall-below fee: A fall-below fee is a charge levied by the bank when your balance falls below the Minimum Average Daily Balance (MADB). This fee can range between S$2 and S$7.50 per month.
  • Account fee: This is a maintenance fee charged by DBS for keeping an account with the bank. DBS charges S$2-S$4 per month as monthly account fee.
  • Incidental overdraft interest charge on SGD balance: Overdraft interest is chargeable on your SGD balance only when you withdraw more than the amount your savings account holds. The interest is applied on the overdrawn amount in a month. DBS charges the Prime rate along with certain percentage on the excess amount withdrawn.
  • Minimum overdraft interest charge: Accounts with overdraft facility allow you to borrow cash up to a certain limit. This limit should be pre-approved and is a short-term credit facility. DBS will charge a nominal amount on this overdrawn amount.
  • Early account closure fee: If you close the savings account within six months of opening it, DBS will charge an early account closure or termination fee of S$30.


    Q. What is the minimum age requirement to open a savings account with DBS?

    A. You must be at least 18 years old to open a DBS savings account.

    Q. Who can apply for DBS savings account?

    A. Singapore citizens, Permanent Residents, and foreigners can apply for DBS savings accounts.

    Q. What documents are needed to open a savings account?

    A. Singaporeans and PRs need to submit their NRIC, while foreigners must submit their passport and any one proof of address to apply for a savings account.

    Q. What are the qualifying transactions other than salary credit that can attract higher interest rates?

    A. The eligible transactions that can earn interest rates are DBS credit card spends, home loan instalments, insurance premiums, and investments.

    Q. Is the fall-below fee waived for the DBS savings account customers?

    A. Yes, for certain savings accounts, the fall-below fee is waived for customers up to the age of 29.

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