POSB Savings Account Minimum Balance, Opening a bank account should be simple, fast and convenient, without having to visit the Branch.
Have an existing Savings or Current account?
Simply log in with your ATM/Debit Card & PIN or digibank (Online/Mobile), and apply online instantly
Do not have an existing Savings or Current account?
Open online now and there will be no minimum average daily balance required!
For Singaporeans/Singapore PRs
Get instant approval and access to your new account with MyInfo – no paperwork and document upload required.
For Other Nationality
Simply complete the online application, upload the required documents and we will take care of the rest.
Once your application has been successfully processed, the debit card will be mailed to you.
Use the debit card number to activate both your new account and card at the same time.
Fall Below Service Fee
Reflected as “SC” in your statement, this is an administrative fee we charge when your balance falls below the Minimum Average Daily Balance. To avoid incurring the Fall Below Service Fee, ensure that your account meets the Minimum Average Daily Balance:
(Unsure of your account type? Check via digibank Online)
|POSB Accounts||Minimum Average Daily Balance |
|POSB eSavings Account POSB Everyday Savings Account POSB Passbook Savings Account||S$500||S$2.00 per month|
|POSB Savings – SPEP Account||S$1,000||S$2.00 per month|
|POSB Current/eCurrent Account||
(Maintained in linked POSB Savings Account)
|S$2.00 per month|
|POSB Savings – AF Account||S$5,000||S$2.00 per month|