DBS Bank Savings Account

DigiSavings

Digibank makes banking hassle free and a lot easier for you. DBS is a zero balance savings account, which brings a complete digital banking ecosystem to your mobile and allows you to open your bank account without any paperwork or signatures. You can set up an e-wallet in just 90 seconds and can instantly convert to digiSavings with Aadhaar OTP to earn interest on your funds and enjoy various features on your savings as well. You will also get answers to all your banking queries instantly with the 24 x 7 virtual assistant.

For a digiSavings account, all you need is your Aadhaar card and PAN card details. You can verify your details using an OTP on your Aadhaar linked registered mobile number and your digiSavings account will be opened instantly. You can enjoy all the features and benefits of digiSavings with biometric verification at any of their partner stores or by calling their agent to visit you within one year. You can upgrade to digiSavings instantly without any paperwork at all.

Features & Benefits of DBS digiSavings account

Listed below are the several features and benefits of digibank by DBS:-

• Opt for a digiSavings account and earn interest up to 7%* p.a. on your savings
• Enjoy cashback of up to 10% on shopping from a wide range of online merchants
• Enjoy a no strings attached zero balance savings account
• Get unlimited free withdrawals at over 2 lakhs ATMs only with digibank
• With digibank, you can purchase, track and redeem mutual fund investments
• Mutual Funds on the go along with starting of SIPs seamlessly
• UPI on digibank enables you to manage all your bank accounts from one single app, you can send and receive money using a virtual payment address
• Make payments using your digibank application at all Bharat QR enabled stores and websites
• Budget optimiser lets you make budget, track expenses, analyse purchasing patterns and provides advice by looking at your behaviour and preferences
• Enjoy discounts and offers with your digibank VISA debit card at partner restaurants
• Enjoy cashless, contactless, PINless payments with your digibank debit card. Now just wave your digibank debit card at a payWave enabled machine to pay for transactions up to Rs 2000.

*Earn 6% interest p.a. on balance up to Rs 1 lakhs, 7% interest p.a. on your savings account balance incremental amount over and above Rs 1 lakhs and up to Rs 2 lakhs. Any balance over and above Rs 2 lakhs and up to Rs 5 lakhs will earn you 5% interest p.a. on the incremental amount and 4% interest p.a. on any balance over and above Rs 5 lakhs.

Eligibility Criteria

• Individual of age 18 years and above
• Resident Indian

Documents Required

To apply for digibank by DBS savings account you should have:

• Aadhaar card
• PAN card

Fees & Charges

Check the fees and charges of the digibank savings account by DBS

Miscellaneous Fees	digiSavings
Account closure (within 6 months of opening)	Rs 500
Debit card replacement (lost, stolen, damaged)	Rs 150
Debit card annual fee (second year onwards)	Rs 150
International cash withdrawal	Rs 125
International balance enquiry	Rs 50
FX Mark up	3.5%
Ad hoc balance/TDS/interest certificates	Rs 75
Ad hoc issuance of miscellaneous certificates	Rs 75
Investments in Mutual Fund through digibank – Transaction Fees*	NIL

How to open digibank by DBS savings account online

Applying for a Savings Account at Paisabazaar.com involves two simple steps:

Step 1: In the first step, fill a Savings Account form on Paisabazaar with required personal data like annual income range, name, email id, contact number and city. Once submitted, the Savings Account tool will automatically furnish personalized Savings Account options.

Step 2: In the second step, the applicant can compare various Savings Account options offered by the tool interface and apply for the digibank by DBS (digiSavings Account). You will be provided with a link to digibank app on your mobile number. There you will be required to provide your basic and personal details to open your bank account in no time.

Basic Savings Bank Deposit Account

Going by its name, Basic Savings Bank Deposit Account from DBS is a simple, basic account to carry out day to day banking transactions. Basic Savings Bank Deposit Account is offered under the Pradhan Mantri Jan Dhan Yojana.

Features & Benefits of DBS Basic Savings Bank Deposit Account

Listed below are the several features and benefits of Basic Savings Bank Deposit Account:-

• Opt for a Basic Savings Bank Deposit Account and earn interest up to 7%* p.a. on your savings
• No minimum balance requirement
• Maximum of four withdrawals allowed in a month across all channels, including ATM withdrawals
• Basic banking services and cheque books will be made available
• No limit on the number of deposits that can be made in a month
• Free Debit Card
• Free Passbook
• The account can be used for day to day needs like deposit, withdrawal, remittances, etc.

*Earn 6% interest p.a. on balance up to Rs 1 lakhs, 7% interest p.a. on your savings account balance above Rs 1 lakhs and up to Rs 2 lakhs. Any balance over and above Rs 2 lakhs and up to Rs 5 lakhs will earn you 5% interest p.a. and 4% interest p.a. on any balance over and above Rs 5 lakhs.

Applying for a Offline Savings Account from DBS Bank

If you want to open Basic Savings Deposit Account from DBS Bank which is listed above, then you can do so by visiting the nearest DBS Bank branch.

Development Bank of Singapore savings accounts interest rate for offline accounts is 6% per annum on balance up to Rs 1 lakhs. For savings account balance above Rs 1 lakhs and up to Rs 2 lakhs, you can earn a 7% interest per annum. Earn 5% p.a. interest on any balance over and above Rs 2 lakhs and up to Rs 5 lakhs and 4% interest p.a. on any balance over and above Rs 5 lakhs. Development Bank of Singapore savings account interest rates and charges are subject to renewal on the basis of bank’s policy.

The documentation for DBS Bank savings account is listed below. You might have to carry photocopy of all the documents (with their originals) and are required to be presented at the time of submitting the account opening form.

Individuals:

1. Proof of identity:

• Aadhaar card / letter issued by unique identification authority of India (UIDAI) containing details of address, name and father’s name (Mandatory)
• PAN card or Form No. 60 / 61 (as applicable) (Mandatory)
• Voter’s identity card
• Passport
• Driving license

2. Proof of address: Any one or two of the following as mandated by the bank

• Electricity bill / telephone bill
• Bank account statement
• Letter from any recognised public authority
• Rent agreement indicating the address of the customer accordingly registered with state government or similar registration authority
• Letter issued from employer (satisfaction of the bank)