Safe Deposit Box

Product Benefits | Eligibility and Requirement | Fees

Frequently Asked Questions

1. What are your requirements to open a Safe Deposit Box?
   
   You must be at least 21 years old and maintain a DBS Savings Plus/ POSB Savings/ Current/ Autosave Account with us. The DBS Savings Plus/ POSB Savings/ Current/ Autosave account will facilitate the debit of annual rental rates. Companies, Partnership, Sole Proprietorship and Association are also eligible to maintain a Safe Deposit Box.



2. Are foreigners eligible to have a Safe Deposit Box?
   
   Yes. Further to the above requirement, you must hold an Employment Pass/ Student Pass/ Dependant Pass and you must have an account with a Singapore residential address with us that was opened more than a year ago.



3. Can I include my child's name in my existing Safe Deposit Box as a mandatee*?
   
   Yes. To be a Safe Deposit Box Mandatee, your child must be at least 21 years old.
   
   *A mandatee has full authority to use the key(s) and has access to the box but is not authorized to close the safe deposit box.



4. Do I need to place a key deposit or Fixed Deposit as collateral?
   
   No, the bank does not require any collateral for our Safe Deposit Box facility.



5. How many Safe Deposit Boxes may I have?
   
   There is no limit to the number of Safe Deposit Boxes you may have.



6. What are the sizes and rental rates of your Safe Deposit Boxes?
   
   We have four types of box sizes: Extra Small, Small, Medium and Large. The rentals vary according to the size of the boxes. Our Safe Deposit Box rental rates are as follows:
   
   

   Box Size		Rental Rates (p.a.)
   X-Small	(3" x 5" x 24")	$125.00
   Small	(3" x 10" x 24")	$180.00
   Medium	(5" x 10" x 24")	$250.00
   Large	(10" x 10" x 24")	$400.00

   
   Note:
   1. All rental rates are before GST.
   2. The above rates are effective from 1st Oct 2007. For existing Safe Deposit Box customers, the above rates are applicable from 1st Jan 2008 upon deduction of the next annual rental.


7. What if I lose the Safe Deposit Box keys?
   
   All safe deposit box holders who lose the keys have to visit the branch where you maintain the Safe Deposit Box to report the loss. Subsequently, we will replace the lost set with a new set of keys. The fees for replacement of lost keys are as follow:
   
   For loss of 1 Key: $150.00 (subject to GST)
   For loss of 2 Keys: $250.00 (subject to GST)



8. Should I terminate my Safe Deposit Box before the next rental due date, will I receive a refund?
   
   This is an annual fee paid upfront. There is thus no refund for closure of the box during the year.

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