POSB Bank

POSB Bank, often known as POSB, is a Singaporean bank offering consumer banking services and is the oldest local bank in continuous operation in Singapore. Established on 1 January 1877 as the Post Office Savings Bank, the bank now operates as part of DBS Bank, which acquired the institution and its subsidiaries on 16 November 1998.

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.