More students getting into the savings habit as POSB national drive surpasses halfway mark of SGD 35 million 'additional savings' target
Singapore.25 Jul 2025
Over the course of a year, students have saved an additional SGD 19 million, surpassing expectations
National savings habit bolstered by full installation and operationalisation of POSB Smart Buddy digital savings and payments infrastructure
Students also get newly enhanced smartwatches with stress management features and will undergo updated financial literacy curriculum
Singapore, 25 Jul 2025 - More primary and secondary students are getting into the savings habit, collectively setting aside an additional SGD 19 million over the course of a year via the POSB Smart Buddy digital savings and payments programme. This has enabled the bank’s national savings drive to surpass the halfway mark of its 2026 target since last year’s launch. POSB had set out to help more than one in three primary and secondary students collectively save an additional SGD 35 million by 2026 through a slew of supportive measures announced in July last year[1].
The bank’s multi-year effort to instil good savings habits in students is taking hold. After a three-year rollout, the Smart Buddy digital savings and payments infrastructure, including tap-and-pay terminals, is fully installed and is operational across participating junior colleges/Millennia Institute, secondary and primary schools in Singapore. POSB expects to engage 320,000 students across 335 schools by the end of the year, up from 230,000 students across 253 schools in 2024.
POSB’s national savings drive is getting another boost as the bank is progressively equipping students with new Smart Buddy watches that not only help them spend and save their pocket money wisely but also support their mental well-being. Among the other new features, each watch now comes with a ‘Breathe’ function that guides users through simple breathing exercises designed to reduce stress, improve focus and encourage mindfulness. Later this year, the bank will also roll out a new savings feature on its POSB Smart Buddy mobile app through which users can allocate savings across specific goals they set. More details will be announced in the fourth quarter of this year.
As part of a refreshed financial literacy curriculum, students will also learn about how black swan events and economic shocks can adversely impact one's finances. The bank’s financial literacy experts, who designed the syllabus, constantly look out for opportunities to turn real-world events – such as the ongoing tariff war –into teachable moments, helping students understand how matters beyond their control can potentially impact years of careful savings, and why being financially prepared matters.
Said Calvin Ong, Head of Consumer Banking Group, DBS Singapore: "Good money habits take time to take root. This means ensuring children understand the value of money and making saving instinctive, so they are motivated to keep up with the habit in both good and uncertain times. Our ongoing efforts include equipping young learners with the right tools, providing age-appropriate education and offering them real-world opportunities to practise healthy money habits. This holistic approach underscores our broader mission to help raise the next generation of savers in Singapore, who will grow up to become digitally-savvy adults confident with their money.”
Since launching its national savings drive, POSB has engaged more than 28,000 students through its financial literacy assembly talks and workshops. In just two months since the launch of this year’s matched savings campaign, over 26,000 students have benefited – collectively earning 570,000 digital stamps by saving a portion of their daily allowance via Smart Buddy. POSB has matched these efforts with SGD 285,000 in savings.
About the POSB Smart Buddy programme and new smartwatch
Launched in 2017, the POSB Smart Buddy programme was the world’s first in-school wearable tech savings and payments solution. From an initial rollout in just 19 schools, students today can use their Smart Buddy cards or watches to make payments not only at school vendors, but also at over 10,000 NETS merchants islandwide, including 7-Eleven, Popular Bookstore and Subway.
Recognising the need for accessible stress management tools for children, POSB has introduced a ‘Breathe’ feature in its latest smartwatch that helps users recognise signs of stress and build healthy coping habits from an early age. The third-generation Smart Buddy watch now comes with a suite of new features designed to support students' physical and emotional well-being:
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About POSB
A part of the DBS Group, POSB is the largest and oldest local bank in Singapore with over four million customers. Having served generations of Singaporeans for the past 148 years, it is known as the "People’s Bank", and prides itself on being "neighbours first, bankers second".
POSB takes pride in supporting the community's everyday needs and helping individuals, families, and businesses to become better savers. It stands at the forefront of change by providing pioneering financial solutions and services - across savings, borrowing, investment and insurance - that cater to the evolving needs of Singaporeans.
As a trusted member of the community, it is also committed to giving back to and standing alongside Singaporeans. From inculcating healthy financial habits to promoting digital literacy, POSB seeks to enrich neighbourhoods and uplift the community.
For more information, please visit www.posb.com.sg.
The bank’s multi-year effort to instil good savings habits in students is taking hold. After a three-year rollout, the Smart Buddy digital savings and payments infrastructure, including tap-and-pay terminals, is fully installed and is operational across participating junior colleges/Millennia Institute, secondary and primary schools in Singapore. POSB expects to engage 320,000 students across 335 schools by the end of the year, up from 230,000 students across 253 schools in 2024.
POSB’s national savings drive is getting another boost as the bank is progressively equipping students with new Smart Buddy watches that not only help them spend and save their pocket money wisely but also support their mental well-being. Among the other new features, each watch now comes with a ‘Breathe’ function that guides users through simple breathing exercises designed to reduce stress, improve focus and encourage mindfulness. Later this year, the bank will also roll out a new savings feature on its POSB Smart Buddy mobile app through which users can allocate savings across specific goals they set. More details will be announced in the fourth quarter of this year.
As part of a refreshed financial literacy curriculum, students will also learn about how black swan events and economic shocks can adversely impact one's finances. The bank’s financial literacy experts, who designed the syllabus, constantly look out for opportunities to turn real-world events – such as the ongoing tariff war –into teachable moments, helping students understand how matters beyond their control can potentially impact years of careful savings, and why being financially prepared matters.
Said Calvin Ong, Head of Consumer Banking Group, DBS Singapore: "Good money habits take time to take root. This means ensuring children understand the value of money and making saving instinctive, so they are motivated to keep up with the habit in both good and uncertain times. Our ongoing efforts include equipping young learners with the right tools, providing age-appropriate education and offering them real-world opportunities to practise healthy money habits. This holistic approach underscores our broader mission to help raise the next generation of savers in Singapore, who will grow up to become digitally-savvy adults confident with their money.”
Since launching its national savings drive, POSB has engaged more than 28,000 students through its financial literacy assembly talks and workshops. In just two months since the launch of this year’s matched savings campaign, over 26,000 students have benefited – collectively earning 570,000 digital stamps by saving a portion of their daily allowance via Smart Buddy. POSB has matched these efforts with SGD 285,000 in savings.
About the POSB Smart Buddy programme and new smartwatch
Launched in 2017, the POSB Smart Buddy programme was the world’s first in-school wearable tech savings and payments solution. From an initial rollout in just 19 schools, students today can use their Smart Buddy cards or watches to make payments not only at school vendors, but also at over 10,000 NETS merchants islandwide, including 7-Eleven, Popular Bookstore and Subway.
Recognising the need for accessible stress management tools for children, POSB has introduced a ‘Breathe’ feature in its latest smartwatch that helps users recognise signs of stress and build healthy coping habits from an early age. The third-generation Smart Buddy watch now comes with a suite of new features designed to support students' physical and emotional well-being:
- Guided breathing exercises to help reduce stress, improve focus and encourage mindfulness
- Advanced fitness tracking with 20 built-in sports modes tailored for active teens
- Magnetic contact charging for enhanced durability and protection against water damage
- Quick QR pairing for easy connection with the Smart Buddy app
- A sleek, modern design that appeals to children of all ages
For more information, please visit the POSB Smart Buddy webpage.
[END]
About POSB
A part of the DBS Group, POSB is the largest and oldest local bank in Singapore with over four million customers. Having served generations of Singaporeans for the past 148 years, it is known as the "People’s Bank", and prides itself on being "neighbours first, bankers second".
POSB takes pride in supporting the community's everyday needs and helping individuals, families, and businesses to become better savers. It stands at the forefront of change by providing pioneering financial solutions and services - across savings, borrowing, investment and insurance - that cater to the evolving needs of Singaporeans.
As a trusted member of the community, it is also committed to giving back to and standing alongside Singaporeans. From inculcating healthy financial habits to promoting digital literacy, POSB seeks to enrich neighbourhoods and uplift the community.
For more information, please visit www.posb.com.sg.
