If you’re looking to open a bank account in Singapore, DBS offers a range of account types to suit your needs. From savings accounts to current accounts and fixed deposit accounts, DBS has a variety of options to help you manage your finances. In this article, we’ll explore the different types of DBS accounts available in Singapore, as well as some special accounts for unique needs.
When it comes to opening a DBS account, the process is straightforward and can be done online. You’ll need to provide some basic personal information, such as your name, address, and identification documents. Once your account is open, you can start managing your finances with ease. With DBS, you can also take advantage of a range of banking tools and resources to help you maximise your finances.
Whether you’re looking to save for the future, manage your daily expenses, or invest in a fixed deposit account, DBS has an account type to suit your needs. By exploring the different options available and getting started with the account opening process, you can take control of your finances and achieve your financial goals.
Key Takeaways
- DBS offers a range of account types to suit your financial needs in Singapore.
- Opening a DBS account is a straightforward process that can be done online.
- With DBS, you can take advantage of special accounts for unique needs and a range of banking tools and resources to maximise your finances.
Exploring DBS Account Types
If you are looking for a bank with a wide variety of account types to meet your financial needs, DBS is a great option. Here are some of the account types available to you:
Savings Account Options
DBS offers a range of savings accounts to help you save and earn interest on your money. Some of the options available to you include:
DBS Multiplier Account: This account is designed to help you maximise your savings and earn higher interest rates. You can earn up to 3.8% p.a. on your account balance if you meet certain criteria, such as maintaining a minimum monthly deposit and spending on your DBS credit card.
DBS eMySavings Account: This account is perfect if you prefer to manage your savings online. You can open an account in minutes and enjoy competitive interest rates.
Current Accounts and Their Benefits
DBS also offers a range of current accounts to help you manage your day-to-day finances. Some of the benefits you can enjoy include:
- No minimum balance requirement
- Free cheque book and debit card
- Online banking and mobile banking services
Fixed Deposit Account Insights
A fixed deposit account is a great option if you want to earn a higher interest rate on your savings. DBS offers fixed deposit accounts with competitive interest rates and flexible tenures to meet your needs.
Multi-Currency and Multiplier Accounts
If you frequently travel or need to make transactions in foreign currencies, DBS offers multi-currency accounts to help you manage your money. You can hold up to 13 different currencies in a single account and enjoy competitive exchange rates.
DBS also offers a range of multiplier accounts that allow you to earn higher interest rates on your savings. These accounts are designed to reward you for maintaining a high account balance and using other DBS products and services.
Overall, DBS offers a wide range of account types to meet your financial needs. Whether you are looking for a savings account, current account, fixed deposit account, or multi-currency account, DBS has you covered. So why not explore your options and find the account that is right for you?
Getting Started With Account Opening
If you’re interested in opening a DBS account in Singapore, you’ll need to meet certain eligibility requirements and provide some documents. Here’s what you need to know to get started.
Eligibility Requirements
To open an account with DBS in Singapore, you must be at least 18 years old and either a Singapore citizen, permanent resident, or a foreigner with a valid work or student pass. You’ll also need to have a valid NRIC or FIN, and a SingPass account.
Documents Needed for Account Opening
When you’re ready to open an account, you’ll need to provide some documents to verify your identity and address. Here’s what you’ll need:
- A valid NRIC or FIN
- Proof of address, such as a utility bill or rental agreement
- Your SingPass account details
Once you have these documents ready, you can apply for an account online or in person at a DBS branch. If you’re applying online, you’ll need to download the DBS digibank mobile app and follow the instructions to complete your application.
Overall, opening a DBS account in Singapore is a straightforward process, as long as you meet the eligibility requirements and have the required documents. With a variety of account types to choose from, including day-to-day accounts, special savings accounts, and fixed deposit accounts, you’re sure to find an account that meets your needs. So why not get started today and enjoy the benefits of banking with DBS?
Special Accounts for Unique Needs
If you’re a foreigner or expat in Singapore, DBS offers a range of accounts that cater to your unique needs. These accounts are designed to help you manage your finances easily and efficiently, regardless of your employment status or visa type.
Accounts for Foreigners and Expats
For foreigners and expats who are looking to open a bank account in Singapore, DBS offers a range of options. You can choose from a savings account, current account, or fixed deposit account, depending on your needs. To open an account, you’ll need to provide your passport and employment pass or IPA (In-Principle Approval) letter from the Ministry of Manpower.
Joint Accounts and Shared Banking
If you’re looking to share your banking experience with a partner or family member, DBS offers joint accounts that allow you to do just that. With a joint account, you can manage your finances together, making it easier to split bills and manage your expenses. You can also set up shared banking, which allows you to share access to your account with a trusted friend or family member.
Youth and Student-Focused Accounts
For young adults and students, DBS offers a range of accounts that cater to your unique needs. These accounts are designed to help you save and earn interest on your money, while also providing you with easy access to your funds. You can choose from a savings account, current account, or fixed deposit account, depending on your needs. Plus, with features like no minimum balance requirements and no fall-below fees, you can save money while still enjoying the benefits of a full-service bank.
Overall, DBS has a range of account types that cater to a variety of unique needs. Whether you’re a foreigner or expat, looking to share your banking experience with a partner or family member, or a young adult or student, DBS has an account that’s right for you.
Maximising Your Finances
When it comes to managing your finances, it can be difficult to know where to start. With DBS in Singapore, you have access to a range of account types that can help you maximise your savings and grow your wealth. Here are a few things to keep in mind when choosing and using your DBS account.
Interest Rates and Savings Growth
One of the most important things to consider when choosing a bank account is the interest rate. With DBS, you can enjoy an interest rate of up to 4.10% p.a. with the DBS Multiplier account. This account rewards you for growing your savings and making regular salary credits. You can also earn higher interest rates by investing in other liquid assets like fixed deposits and Singapore Savings Bonds. By choosing the right account and making smart investments, you can grow your savings and achieve your financial goals faster.
Salary Crediting and Perks
To get the most out of your DBS account, it’s important to take advantage of the perks and benefits that come with it. For example, by crediting your salary to your DBS account, you can enjoy higher interest rates and other rewards like cashback and discounts on dining and shopping. You can also earn rewards points by using your DBS debit or credit card for everyday purchases. By taking advantage of these perks, you can make your money work harder for you and enjoy more of the things you love.
Leveraging Digital Banking Services
DBS offers a range of digital banking services that can help you manage your finances more easily and efficiently. With digibank, you can access all your accounts and investments in one place, track your spending and savings goals, and even get personalised financial advice. You can also use digibank to make payments, transfer funds, and invest in stocks and other securities. By leveraging these digital banking services, you can save time and money and stay on top of your finances wherever you are.
In conclusion, DBS offers a range of account types and services that can help you maximise your savings and grow your wealth. By choosing the right account, taking advantage of the perks and benefits, and leveraging digital banking services, you can achieve your financial goals faster and more easily. So why wait? Start exploring your options with DBS today and take control of your finances.
Banking Tools and Resources
As a DBS account holder in Singapore, you have access to a variety of banking tools and resources to help you manage your finances with ease. In this section, we’ll explore some of the most useful tools and resources available to you.
Understanding Online Banking with Digibank
Digibank is DBS’s online banking platform that allows you to manage your account from anywhere, at any time. With Digibank, you can check your account balance, view transaction history, transfer funds, pay bills, and more. You can access Digibank via the web or through the mobile app, which is available for both Android and iOS devices.
To get started with Digibank, simply log in using your account credentials. From there, you can explore the various features and tools available to you. If you need help, you can access the support resources available on the DBS website.
Debit Cards and Payment Solutions
DBS offers a range of debit cards and payment solutions to make your banking experience even more convenient. With a DBS debit card, you can make purchases both online and in-store, withdraw cash from ATMs, and more. You can also link your debit card to payment services like PayLah! to make payments to friends and family.
Financial Planning and Support Services
DBS offers a range of financial planning and support services to help you achieve your financial goals. Whether you’re looking to save for the future, plan for retirement, or invest in the stock market, DBS has resources to help you. You can access financial planning tools and calculators on the DBS website, as well as connect with financial advisors for personalized support.
My Account
My Account is a feature available on Digibank that allows you to customize your banking experience. With My Account, you can set up alerts for account activity, view your account summary, and manage your account settings. You can also view your eStatements and download your transaction history.
Wise
Wise is a multi-currency account offered by DBS that allows you to hold and manage multiple currencies. With Wise, you can exchange currencies at the mid-market rate, saving you money on exchange fees. You can also use Wise to make international transfers, pay bills, and more.
Overall, DBS offers a range of banking tools and resources to help you manage your finances with ease. From online banking with Digibank to debit cards and payment solutions, DBS has everything you need to take control of your finances.
Frequently Asked Questions
How can I open a DBS account in Singapore and what are the requirements?
Opening a DBS account in Singapore is easy and straightforward. You can visit any of the DBS branches or apply online. To open an account, you need to be at least 18 years old and have an identification document such as an NRIC or passport. If you’re a foreigner, you’ll also need to provide proof of address and employment.
What’s the minimum balance to maintain in a DBS Singapore account?
DBS offers a range of account types with varying minimum balance requirements. For instance, the DBS Multiplier account requires a minimum balance of $3,000, while the DBS Savings Plus account requires a minimum balance of $1,000. You can find out more about the minimum balance for each account type on the DBS website.
Could you tell me about the interest rates for DBS accounts in Singapore?
DBS offers competitive interest rates for its accounts in Singapore. For example, the DBS Multiplier account offers up to 3.8% p.a. interest on your savings, depending on your account balance and transaction activity. Other account types such as the DBS Savings Plus account also offer attractive interest rates. You can find out more about the interest rates for each account type on the DBS website.
What exciting features does the DBS Multiplier account offer?
The DBS Multiplier account is a popular choice among customers because of its attractive interest rates and exciting features. With the DBS Multiplier account, you can earn bonus interest on your savings by fulfilling certain criteria such as salary crediting, credit card spend, and investment. You can also enjoy cashback on your daily essentials with DBS PayLah! and DBS Visa Debit Card.
How do I find out which DBS account type I currently have?
You can easily find out which DBS account type you currently have by logging in to your DBS digibank app or internet banking. Once you’re logged in, you can view your account details and transaction history.
Is it possible to switch to a different DBS account type, and how would I do it?
Yes, it’s possible to switch to a different DBS account type if you find that your current account doesn’t suit your needs. You can visit any DBS branch or apply online to switch to a different account type. However, do take note that there may be certain requirements or fees involved in the process. You can find out more about switching your account type on the DBS website.