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POSB Bank (or simply known as POSB) is a Singaporean bank offering consumer banking services and is the oldest bank in continuous operation in Singapore. Established on January 1, 1877 as the Post Office Savings Bank,[1] the bank now operates as part of DBS Bank, which acquired the institution and its subsidiaries on November 16, 1998.[2]
Prior to its acquisition, the bank was a major public 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. |
