social-enterprise

Social Enterprise Package

Solutions to help you focus on your cause, not the cost

Social Enterprise Package

Solutions to help you focus on your cause, not the cost

At a Glance
Specifically designed to address the needs of social enterprises, this low-cost banking solution leaves you free to focus on your cause.
currencies

Preferential transaction rates and no account fees

Get preferential transaction rates via DBS IDEAL. There is also no initial deposit or minimum monthly balance.

currencies

Multi-currency account

Transact in SGD and up to 12 foreign currencies

nature & ecology

Responsible Banking

We are the first and only bank in Singapore to offer solutions tailored for social enterprises as part of DBS Foundation.

Features & Benefits
Package details Social Enterprise Package Business Account

Min initial deposit

Nil S$3,000
Min average balance per month

Nil

S$10,000

Fall–below fee

Waived

S$40

Annual account service fee

Waived

S$40 per year

Inward Telegraphic Transfers

Waived

S$10 per transaction

Outward Telegraphic Transfers

A flat rate of S$18 per transaction (via DBS IDEAL)

Handling commission: 1/8% (min S$10, max S$120)

Commission–in–lieu of FX: 1/8% (min S$10, max S$120)

Cable charge: S$20

MAS Electronic Payment System (MEPS)

S$10 per transaction (via DBS IDEAL)

S$20 per transaction

GIRO

Waived (via DBS IDEAL)

S$0.20 per item

DBS IDEAL

Free

Free

DBS Visa Business Advance Debit Card

Free

Free

DBS Business Loan

Preferential loan interest rate of 5% p.a.

Waiver of S$500 processing fee, or 2% of the approved loan amount, whichever is higher

 

 

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.

How to Apply

Step 1: Apply online fuss-free! Retrieve your company’s information using CorpPass & MyInfo Business, OR your Business Registration Number.

Step 2: Inform the Bank your Social Enterprise Status. 

Step 3: A courier will pick up your Social Enterprise Package application form, raiSE membership letter and other documents, free of charge.

FAQs
What is a social enterprise?

Social enterprises are businesses that have a social mission at their core and use sustainable commercial models to achieve this social mission. Their primary objective is to achieve positive social, cultural, community, economic and/or environmental outcomes. They sustain themselves with earned revenue, with no reliance on philanthropic giving for their operations.

Traditional commercial models focus on delivering profits to shareholders and may contribute a portion of excess profits for social good; social enterprises focus on centering their operating models around achieving their social mission. Profits generated are committed towards strengthening their ability to create positive social impact and to clearly demonstrate such impact with measurement and reporting.

What funding is available for social enterprises?

The Social Enterprise can apply for:

  • Unsecured business loans at a preferential rate of 5% fixed p.a.

  • Project Grants to support meaningful initiatives

Please call us at 1800 222 2200 for more information.

Are deposits under social enterprise accounts insured?

DBS Social Enterprise Package Accounts are eligible for deposit insurance coverage. Learn more with our Deposit Insurance Scheme.