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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. [1] Established on 1 January 1877 as the Post Office Savings Bank (Chinese: 郵政儲蓄銀行; pinyin: Yóuzhèngchǔxù Yínháng), [2] it currently operates as part of DBS Bank after being acquired on 16 November 1998.
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APYs can be fixed or variable, depending on the type of deposit account. Fixed rates don't fluctuate when, say, the Fed rate changes, while variable APYs do. Confirm the type of rate for the ...
A fixed deposit (FD) is a tenured deposit account provided by banks or non-bank financial institutions which provides investors a higher rate of interest than a regular savings account, until the given maturity date. It may or may not require the creation of a separate account. The term fixed deposit is most commonly used in India and the ...
Singapore, later renamed POSB Bank; Kenya, also known as the Kenya Post Office Savings Bank; Austra, also known as the Österreichische Postsparkasse; Zimbabwe, later renamed the People's Own Savings Bank; Note that some of these institutions are no longer affiliated with a postal service, often as a result of privatization
By 1976, POSB had one million depositors, while deposits crossed the S$1 billion mark. The bank was then renamed POSBank in 1990, before being acquired by DBS Bank on 16 November 1998 for S$1.6 billion (first announced on 24 July 1998), [ 17 ] [ 18 ] giving it a dominant market share with over four million customers. [ 19 ]
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Here's how FDIC national deposit rates on a $10,000 minimum deposit compare between October and November 2024 on traditional low-interest deposit accounts. Savings and deposit account National ...