DBS/POSB to provide S$23 million worth of savings to ease living & business costs through SG60 initiatives

In commemoration of SG60, DBS/POSB will be providing S$23 million worth of savings through various year-long SG60 initiatives.

The initiatives will help ease living and business costs, and have been progressively launched since March 2025.

The news was announced at the DBS/POSB Community Pop-Up event held at One Punggol Hawker Centre on Jul. 12.

Deputy Prime Minister Gan Kim Yong, who is also the Grassroots Adviser for Punggol GRC was present as the guest-of-honour.

He was accompanied by fellow Punggol GRC Members of Parliament (MP) Janil Puthucheary and Yeo Wan Ling.

S$23 million

The S$23 million support includes an initiative where users can redeem S$3 in cashback rewards when making purchases at participating hawker stalls, wet markets, and heartland shops every Saturday.

The cashback is only available for the first 160,000 people who make purchases via DBS PayLah! on Saturdays, from now to Sep. 27.

There is also a S$0.60 deal for a 1kg pack of rice and 500ml bottle of oil at Sheng Siong Supermarket.

Between March and June 2025, POSB cardmembers enjoyed more than S$1 million worth of savings on rice and oil.

Singaporeans who register and credit their salary to any DBS/POSB account will also get rewarded with S$300 cash.

Additionally, full-time National Servicemen (NSFs) can also enjoy the S$300 cash reward by crediting a minimum of S$500 monthly NS allowance.

DBS was the first corporation in Singapore to offer weekly hawker meal subsidies (via PayLah!) in 2023.

Last year, the bank subsidised over S$14 million worth of everyday purchases and hawker meals in the heartlands.

Coping with the cost of living

During the event, Gan said that the government is doing its part to support Singaporeans with cash rollouts and CDC vouchers.

Singaporeans aged 21 and above will also soon receive the SG60 vouchers.

"We want to do our part to help Singaporeans cope with the cost of living," Gan said.

"We hope to continue to partner [with] DBS in serving the people and reaching out [to] the community."

He added: "At the end of the day, it's important for us to help one another, to be self-reliant, to also stay united as one community, one society and one nation."

Top image via Azrizal Abu Che/Mothership and DBS