- Day to Day
- Accounts
- Heartland Merchant Banking Package
Heartland Merchant Banking Package
Curated to serve your business across generations
- Day to Day
- Accounts
- Heartland Merchant Banking Package
Heartland Merchant Banking Package
Curated to serve your business across generations
Singapore's heartland businesses hold a unique place in our daily lives, fostering a sense of community and enhancing cohesion. The Heartland Merchant Banking Package is tailor-made to meet your business banking requirements, offering insurance coverage and solutions for sales collection.
Multi-Currency Account
Transact in SGD and up to 12 foreign currencies with no initial deposit or minimum balance and unlimited free local transfer (Starter Bundle).
Select+
Secure your business with free insurance coverage against legal liabilities, public injuries and property damage stemming from your operations. Enjoy your first year of coverage on us, underwritten by Chubb.
Working Capital Loan
Kickstart your business with unsecured loans with 50% off processing fees.
Impact Programmes
Start Digital Programme – Kickstart your digitalisation journey with a suite of digital solutions for your business needs – from Accounting, HR to Digital, Marketing – supported by Enterprise Singapore and Infocomm Media Development Authority under SMEs Go Digital Programme.
SME Skills Booster Programme – Develop skills that are aligned with your business aspirations. Through this programme by SkillsFuture Singapore and DBS, SME business owners and employees can develop their knowledge and capabilities in areas such as sustainability, digitalisation, cyber wellness, and finance.
Get started with the Heartland Merchant Multi-Currency Account and apply for the additional services you may require.
Step 1: Register your interest for the Heartland Merchant Banking Package.
Once you have applied for the Banking package, you may select the solutions that you are interested in.
Step 2: Open a new Business Multi-Currency account online.
Step 3: Once your Business Multi-Currency Account has been opened successfully, a DBS representative will contact you to guide you through the application process for the remaining solutions you have indicated interest for.
For a SME Working Capital Loan, you will be required to submit an online application here. Enter promo code HMLOAN before you confirm and submit your application.
To be eligible for the Heartland Merchant Banking Package, your company simply needs to be in the heartland retail business and meet the following requirements*:
- Business nature of heartland retailer; AND
- Be registered and incorporated in Singapore with at least 30% local shareholding (Singaporeans or Permanent Residents); AND
- Have an annual sales turnover (at group level) of not more than S$100 million or employment size not exceeding 200 employees
*Applicable to only companies with first business account to be opened with us.
Designed to address the needs of businesses creating impact, this low-cost banking solution leaves you free to focus on your cause.
Preferential transaction rates and unlimited free local transfers
Get preferential transaction rates via DBS IDEAL. No initial deposit or minimum monthly balance for Business Multi-Currency Account (Starter Bundle).
Multi-currency account
Transact in SGD and up to 12 foreign currencies.
Community Banking
We are the first and only bank in Singapore to offer solutions tailored for heartland merchants.
Features and Benefits
Package details | Business Multi-Currency Account (Starter Bundle) For companies incorporated less than 3 years. | Business Multi-Currency Account |
---|---|---|
Minimum initial deposit | NIL | S$1,000 |
Minimum average balance per month | NIL | S$10,000 |
Fall–below fee | Waived | S$40 |
Account service fee | S$10 or equivalent monthly | S$50 per year |
S$10 per transaction | S$10 per transaction | |
A flat rate of S$30 per transaction (via DBS IDEAL), excluding Agent Bank charges | A flat rate of S$30 per transaction (via DBS IDEAL), excluding Agent Bank charges | |
GIRO: Waived (via DBS IDEAL) | Via DBS IDEAL: | |
OTC Charges* | OTC transaction @ S$40 per transaction | OTC transaction @ S$20 per transaction |
Free | Free | |
Free | Free |
*Over-The-Counter (OTC) charges are applicable to cheque encashments, cash deposits and cash withdrawals done over the branch counter only and is subject to the banks review.
Note: Fees are inclusive of GST where applicable. View the Pricing Guide for details.
Deposit Insurance Scheme
Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured. Click here to read more.
Select+ is a package insurance, underwritten by Chubb Insurance Singapore Limited, that provides public liability coverage.
Benefits
Public Liability
DBS Select+ Insurance provides coverage up to S$10,000 in property damage and S$100,000 in public liability. Designed to meet the needs of smaller enterprises, it's an affordable solution which provides ample coverage.
All benefits are subject to the terms and conditions of the Policy. Please refer to the Policy Wording for the full insuring clauses, definitions, schedule, extensions, terms, conditions, exclusions and limits of liability of the Policy.
Promotion
Enjoy Free Cover for the 1st Year!
For a limited time only, enjoy free 6 months complimentary coverage (worth $30), maintain a minimum eligible balance in your account to enjoy another 6 months free.*
*refer to FAQ
Helping businesses that are creating impact to kickstart their journey with unsecured loans with preferential interest.
Borrow up to SGD 500,000*
Support your operational expenses or business expansion.
*Loan amount is approved based on the bank's assessment.
Flexible loan repayment
Enjoy a flexible repayment period of up to 5 years.
Lower processing fees
Enjoy up to 50% off your processing fees.
Start Digital Programme
Going digital is essential to power business growth and expansion. Here at DBS, kick start your digitalisation journey by offering you a suite of Digital Solutions for your business needs.
From Accounting, HR to Digital Marketing, Digital Transactions, Digital Collaboration and Cybersecurity, sign up for any two digital solutions to enjoy a free subscription of 6 months minimum.
Our suite of digital solutions under the Start Digital Programme are designed in partnership with our key partners and is supported by Enterprise Singapore and Infocomm Media Development Authority under SMEs Go Digital programme.
In addition, we have in-house digital solutions like DBS MAX which is an all-in-one merchants’ platform for all your merchant needs. Through DBS MAX, you can enjoy an end-to-end cashless collections experience, gain business insights and more. Click here to find out more about DBS MAX.
Additional eligibility criteria for Start Digital Programme
To qualify for the deals offered in the DBS Start Digital Pack, your business must:
- Be a first-time applicant for Start Digital under IMDA’s SMEs Go Digital Programme.
- Be a new solution subscriber.
SME Skills Booster Programme
To help SMEs future-proof their workforce, DBS has partnered SkillsFuture Singapore (SSG) to launch the DBS SME Skills Booster Programme. With resources from SSG and DBS BusinessClass Academy, DBS aims to help SMEs improve productivity and efficiency by creating a learning and development (L&D) plan that is aligned with their business aspirations.
Through the programme, SME employees can hone their skills and capabilities in areas such as digital and transformation, sustainability, banking and finance, and cyber wellness.
How can I better understand what Impact Programme has to offer? | |
You may refer to the webpage link Start Digital Programme and SME Skills Booster Programme to understand more. Should you need to understand more, fill up the interest page for us to contact you. |