POSBank
Encyclopedia : P : PO : POS : POSBank
POSBank (or POSB) (Chinese: 邮政储蓄银行) is a brand of consumer banking services offered by DBS Bank in Singapore, after it was acquired by the later in November 1998. Prior to this, it was a major public bank which began life as the Post Office Savings Bank, offering low-cost banking services to Singaporeans. DBS Bank attempts to continue this tradition by promising to keep costs low for basic savings accounts, and to exempt children, full time students below the age of 21 years and full time National Servicemen from bank charges.
History
The former Post Office Savings Bank was renamed as POSBank in March 1990. It was subsequently fully acquired by DBS Bank on 16 November 1998, at the same time, ceased to exist as a statutory board under the Ministry of Finance. POSBank still operates one the highest number of bank branches in Singapore, especially in the suburban neighbourhoods, and operates the highest number of ATM outlets throughout Singapore. The integration of both banks allowed customers of either bank to share the facilities; DBS Bank depositors may use the Cash Deposit Machine installed islandwide in POSBank branches, likewise for POSBank depositors.Banking services
Deposit accounts
- Children Development Account (CDA)
- POSBkids Account
- POSB Passbook Savings
- POSB Save-As-You-Earn (SAYE) Bonus Scheme
- POSB Current Account
- S$ Fixed Deposit
- 5-Year Deposit Account
- Premier Income Account
- Safe Deposit Box
Personal loans
- POSB HDB Home Loan
Cards
- POSB ATM Card
- POSB MasterCard Debit
- POSB Everyday Credit Card
See also
External links
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