The eMySavings Account is an automatic monthly savings account offered by POSB to enhance control and flexibility over this account. The eMySavings Account or eMSA helps you maintain your monthly goals of saving by providing special rates of interest.
Features and Benefits of eMySavings Account:
- This savings account comes with a predetermined monthly savings amount allowing you to save an exact amount month on month on the saving date. You can choose any amount to save between S$50 and S$3000 in multiples of S$10. You can also choose any date as your saving date between the 1st and the 25th of the month.
- You have complete access to your savings account and the money using the widespread ATM network of POSB, the digibank app as well as the iBanking Service.
- You will receive quarterly eStatements of your account activity and transactions.
Interest Rate Structure for eMySavings Account:
Find below the deposit amounts and the corresponding interest rates offered for eMySavings Account by POSB:
|Deposit Amount||Interest Rates|
|$50 and up to $290||0.0500% p.a.|
|$300 and up to $790||0.2000% p.a.|
|$800 and up to $1,490||0.2500% p.a.|
|$1,500 and up to $3,000||0.2500% p.a.|
|If case of failed crediting on this monthly savings account, withdrawal made/account is closed within the month||0.0500% p.a.|
Eligibility Criteria for eMySavings Account:
To apply for eMySavings Account by POSB, you must meet the following eligibility criteria:
- You must be 16 years of age or above to apply for this savings account.
- You must be an existing POSB or DBS Current or Savings Account holder to be eligible to apply for this savings account.
Documentation Criteria for eMySavings Account:
To apply for eMySavings Account by POSB, you must provide the following documents:
- Singapore citizens and Permanent Residents must provide a copy of their NRIC.
- Foreigners must submit the following documents:
- A relevant pass that has been issued by Immigration as well as the Checkpoint Authority of Singapore.
- One of the following must be provided as Address Proof and must be issued within the last three months:
- IPA Letter (In-Principle Approval) issued by MOM (Ministry of Manpower.
- Telephone bill.
- Utility bill.
- Rental Agreement.
- Credit Card statement/bank statement/bank reference letter.
- Management fee bill.
- Letter issued by the HR department (Human Resource) of your current employer.
Applying for eMySavings Account:
You can apply for eMySavings Account by POSB through the following ways:
- Existing POSB customers can apply through the following ways:
- Apply through iBanking Service – you will need your User ID and PIN.
- Apply through your Debit Card or ATM Card PIN.
- New customers to POSB must apply for eMySavings Account directly at the nearest POSB bank branch. Please carry the required documents for account opening.