POSB is one of the oldest bank in Singapore. It is the 1st bank that I have an savings account with.
The interest rates they offered is not great at the moment, I only mantain them for the purpose of paying bills through GIRO.
POSB Opening Account Eligibility and Requirement:
– At least 16 years old to open a personal or joint account.
– If you are below 16 years old, you may open a POSBkids Account.
– The minimum initial deposit is S$500. (The minimum initial deposit is $1 for individuals up to 21 years old or 62 years old and above.