DBS/POSB launches $10m support package for Singaporeans

DBS/POSB has announced a SGD 10 million initiative aimed at easing cost pressures for Singaporeans and supporting small and medium-sized enterprises (SMEs) amid ongoing economic uncertainty.

The bank will offer consumers more than three million cashback redemptions when clients use DBS/POSB cards or the relevant app for purchases at hawker centers, heartland shops, and supermarkets from August to December.

The measure aims to help them defray the cost of everyday items such as groceries and food.

For businesses, the bank is expanding its support to help local SMEs accelerate their adoption of artificial intelligence (AI) and strengthen their resilience.

The initiatives come shortly after the Singapore government’s SGD 1 billion support package and are designed to provide practical help as cost-of-living pressures mount.

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