Late cheques will be taken into account for interest computation from the next clearing date after the day of deposit. Exchange rate quoted (if any) is the indicative rate as at the last business day of the month. Any transactions performed after our cut-off time for statement printing will be reflected in the following month's statement of account. Overdraft interest denotes the interest charge on (a) the amount overdrawn due to there being insufficient funds in your account to meet payments (subject to a minimum charge of S$20 for personal account) or (b) the overdraft amount utilised for accounts with an overdraft facility (subject to a minimum charge of S$10).For full list of banking statement terms and codes, please click here.
The principal amount and interest in your fixed deposit will be renewed at maturity in accordance with your instructions. If maturity instructions are absent or cannot be implemented, we may at our discretion place it for any tenor and renew the principal and interest at the prevailing rate at the time of maturity. If you wish to change your maturity instruction, please approach any branch, 2 business days before the maturity date. Please note that if the fixed deposit is withdrawn before the maturity date, you may receive lower or no interest and charges may be imposed.
From 1 January 2016, the annual SRS contribution cap has been increased to:
Your SRS contribution cap shall be calculated at the rate applicable to Singapore Citizens unless we receive from you the documentation required under the Regulations to evidence that you are a foreigner. In calculating your SRS contribution cap, we shall be entitled to rely only on information/documents received by us in accordance with the Regulations.
Personal income tax relief cap of S$80,000 will apply from Year of Assessment 2018 to SRS contributions made on or after 1 Jan 2017. This cap applies to the total amount of all tax reliefs claimed, including any relief on SRS contributions.
For SRS contributions to be eligible for tax relief in the following year, they must be performed via iBanking or mBanking by 7.00pm on the last working day of December.
You must not have more than 1 account under the SRS at any point in time, whether with DBS or any other SRS Operator. Market values of investments shown are as of the fourth last business day of the month and obtained from sources which are believed to be reliable and accurate as at date ofretrieval. We do not represent, warrant or guarantee their accuracy or completeness. Where applicable, the provision by us of market prices or values does not imply that an actual trading market exists for that investment or transaction or that it is appropriate toassume (for accounting or other purposes) that such a trading market exists. The market prices and values provided herein may differ significantly from actual trading prices(if any) for entering into, purchasing, redeeming or terminating an investment or transaction as a result of various factors, including prevailing credit spreads, market liquidity,position size, transaction and financing costs, hedging costs and risks and use of capital and profit. Such market prices or values may also differ from the valuations adopted by us for purposes of determining the collateral value of any asset provided by you by way of security. We have not advised you as to the appropriateness of any particular use of the market prices and values provided and we do not accept any liability whatsoever arising from your reliance or use thereof. You should consult your own advisors as to the appropriateness of any particular use of such market prices and values, whether in connection with the preparation of your financial statements, fulfilling reporting obligations or otherwise. The current interest rate for CPFIS and SRS account is 0.05% p.a. Please visit us at www.dbs.com/sg for more details. Interest will be credited at the end of each month. The prevailing CPF Ordinary Account (OA) interest rate is 2.5% p.a. An extra 1% interest is paid on the first $60,000 of your combined CPF balances (with up to $20,000 from OA). If you are aged 55 and above, the first $30,000 of your combined CPF balances (with up to $20,000 from the OA) also earns an additional 1% Extra Interest. You can invest savings in excess of the first S$20,000 in your Ordinary Account (OA). However, you can continue to service your existing regular premium insurance policies as well as pay your agent bank fees using your OA savings even if it falls below S$20,000. Your CPFIS investment proceeds will be credited into your CPF Investment Account (IA). You can transfer the cash balance in your CPF IA to your CPF Ordinary Account (OA) using our banking facilities (e.g. ATM or counter). We will automatically transfer any cash balance in your CPF IA to your OA at the end of the month if your IA has been inactive for two consecutive months. If you have invested in Singapore incorporated shares or property funds (excluding Business Trust companies), you can now directly attend and vote at shareholder meetings. You do not need to register your attendance through us anymore. In addition, from 1 March 2016, CPF savings cannot be invested in securities under the Singapore Exchange watch-list, as these securities could potentially be delisted. If you have already invested in these securities, you can choose to hold or sell them. You may continue to use your CPF savings to participate in corporate actions related to these securities, subject to prevailing CPFIS rules and limits.Please note that CPF Investment Scheme (CPFIS) investments are not covered under CPF nomination. When a member passes away, his CPFIS investments* and any cash balance in his Investment Account will form part of his estate. This allows beneficiaries of the deceased’s estate to decide how best to manage CPFIS assets, including preferred timing for the sale of assets, which could affect the value of CPFIS investments. *Except for insurance policies where the member had an insurance nomination with the respective insurance company.
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