DBS vs Trust Bank: Traditional Giant vs Digital Pioneer 2025
Comprehensive comparison between Singapore's largest traditional bank and its newest digital banking challenger. Explore digital features, savings rates, customer experience, and service offerings.
DBS Bank
Traditional Banking Leader
VS
Trust Bank
Digital Banking Pioneer
Quick Verdict
Choose DBS if you want:
- • Full-service banking (loans, investments)
- • Physical branch access when needed
- • Business banking services
- • Established track record and stability
Choose Trust Bank if you want:
- • Pure digital banking experience
- • Lower fees and no minimum balance
- • Simpler, more intuitive app interface
- • Focus on savings and spending only
Savings Account Analysis
DBS Multiplier
Up to 1.5% p.a.
DBS Multiplier with salary + credit card spending
Minimum Balance: S$1,000
Rate Structure:
Base Rate:0.05% p.a. base rate
With Salary:1.0% p.a. with salary credit
Maximum Rate:1.5% p.a. with salary + 3 product categories
Balance Tiers:
S$50,000
S$100,000
S$200,000
Pros
- • Higher balance coverage
- • Multiple bonus categories
- • No fall-below fees
- • Established system
Cons
- • Complex requirements
- • Minimum balance needed
- • Rate caps on tiers
- • Multiple products required
Trust Savings
Up to 1.5% p.a.
Trust Savings with deposit + spend requirements
Minimum Balance: S$0
Rate Structure:
Base Rate:0.05% p.a. base rate
With Deposit:1.0% p.a. with S$500 monthly deposit
Maximum Rate:1.5% p.a. with S$500 deposit + S$500 spend
Qualifying Balance:
S$75,000 max qualifying balance
Pros
- • No minimum balance
- • Simpler requirements
- • Pure digital experience
- • Fast account opening
Cons
- • Lower balance coverage
- • Limited to S$75K
- • Newer institution
- • Spend requirement needed
Annual Interest Earnings Comparison
Balance: S$30,000
Meeting all requirements
DBS: S$450
Trust: S$450
Equal annual earnings
Balance: S$75,000
Maximum Trust qualifying
DBS: S$1,125
Trust: S$1,125
Equal at Trust's limit
Balance: S$150,000
Above Trust limit
DBS: S$2,250
Trust: S$1,125
DBS advantage: S$1,125
Savings Winner: Depends on Balance
Both banks offer the same maximum rate (1.5%), but Trust Bank is limited to S$75,000 qualifying balance. For balances under S$75,000, they're equal. For higher balances, DBS wins significantly. Trust Bank wins on simplicity with no minimum balance requirement.
Digital Banking Innovation
DBS digibank
4.5/5
Core Features:
- AI-powered financial insights
- Biometric authentication
- Real-time spending analytics
- Investment portfolio tracking
- Bill payment automation
- PayLah! digital wallet integration
- Voice banking commands
- Augmented reality branch locator
Innovation Highlights:
- World's first voice biometric authentication
- AI chatbot for customer service
- Blockchain-based trade finance
- Open banking APIs
Awards & Recognition:
- • World's Best Digital Bank 2023
- • Most Innovative Bank Asia
Trust Bank App
4.3/5
Core Features:
- 100% digital account opening
- AI-driven personalized recommendations
- Real-time expense categorization
- Goal-based savings automation
- Instant money transfers
- Digital-first customer support
- In-app financial education
- Social banking features
Innovation Highlights:
- First fully digital bank in Singapore
- AI-powered financial wellness scoring
- Social spending insights
- Gamified savings challenges
Awards & Recognition:
- • Best Digital Bank Launch 2022
- • Fintech Innovation Award
Digital Banking Analysis
DBS Advantages:
- • More comprehensive feature set
- • Established track record and stability
- • Integration with full banking services
- • Advanced AI and voice banking
- • International recognition and awards
Trust Bank Advantages:
- • Simpler, more intuitive interface
- • Built digital-first from ground up
- • Focus on user experience over features
- • Social banking and gamification
- • Faster response to user feedback
Credit Card Offerings
DBS Credit Cards
DBS Altitude
Earning Rate
1.3 miles per S$1
Annual Fee
S$196 (waivable first year)
Bonus Category
2 miles per S$1 on travel/online
Key Benefits
- • Priority Pass
- • No foreign transaction fees
- • Travel insurance
DBS Live Fresh
Cashback Rate
1% cashback on all spend
Annual Fee
S$0
Bonus Category
5% on online shopping
Key Benefits
- • No minimum spend
- • Real-time cashback
- • No expiry
Trust Credit Card
Trust Credit Card
Cashback Rate
1% cashback on all spend
Annual Fee
S$0
Bonus Categories
Up to 3% on selected categories
Key Benefits
- • No foreign transaction fees
- • Instant approval
- • Digital-first management
Digital-First Features:
- 100% digital application and approval
- Real-time spending notifications
- Instant card lock/unlock
- AI-powered spending insights
- Contactless payments ready
Digital Advantages:
- • Instant approval and activation
- • Real-time spending insights
- • No physical paperwork required
- • Seamless app integration
Additional Banking Services
Home Loan Services
DBS Home Loans
Full range available
Rate: From 3.85% p.a.
Type: 3-year fixed then SORA + 0.75%
Processing: 0.5% of loan amount
Features:
- • Free legal fees up to S$2,500
- • Free valuation
- • Rate conversion options
- • Offset account facility
- • Flexible repayment schedules
Trust Bank Home Loans
Not available
Digital bank focus on deposits and payments
Current Alternatives:
- • Partner referrals to other lenders
- • Mortgage broker connections
- • Financial advisory for property purchases
Business Banking
DBS Business Banking
Comprehensive SME banking
Market Strengths:
- • Largest SME market share in Singapore
- • Digital Business Class platform
- • Trade finance excellence
- • Regional connectivity
- • Supply chain financing
Key Products:
- • Business accounts with attractive rates
- • Corporate credit cards
- • Trade financing solutions
Trust Bank Business
Personal banking focus only
No business banking services
Digital-first strategy focused on individual consumers
Current Focus:
- • Referral partnerships with business lenders
- • Focus on gig economy workers
- • Freelancer-friendly personal accounts
Customer Support & Service
DBS Customer Support
Support Channels:
- • 24/7 phone banking hotline
- • Live chat on digibank app
- • Video banking appointments
- • Email support
- • 130+ physical branches
- • 1,100+ ATMs nationwide
Response Time
Phone: Immediate, Chat: 2-5 minutes
Languages
English, Mandarin, Malay, Tamil
Expertise: Full-service banking specialists
Trust Bank Support
Support Channels:
- • In-app chat support
- • WhatsApp customer service
- • Email support
- • Video call assistance
- • No physical branches
- • Partner ATM network access
Response Time
Chat: 1-3 minutes, Email: 4-6 hours
Languages
English, Mandarin
Expertise: Digital banking specialists
Fees & Security
Fee Structure Comparison
| Fee Type | DBS | Trust Bank |
|---|---|---|
| Account Maintenance | S$0 (with min balance) | S$0 |
| Fall Below Fee | S$0 | N/A (no minimum balance) |
| ATM Withdrawal | Free at DBS/POSB ATMs | Free at partner ATMs up to 5 times/month |
| Foreign ATM | S$5 per withdrawal | S$3 per withdrawal |
| Wire Transfer | S$15-25 depending on destination | Not available |
| Replacement Card | S$10 | S$0 |
Security Features
DBS Security
Authentication:
- • Biometric login (fingerprint/face)
- • SMS OTP
- • Secure device pairing
- • Digital token
Protection:
- • 24/7 fraud monitoring
- • Real-time transaction alerts
- • Liability protection for unauthorized transactions
- • Secure card controls
Established since 1968, zero major security breaches
Trust Bank Security
Authentication:
- • Biometric login (fingerprint/face)
- • SMS OTP
- • App-based authentication
- • Device binding
Protection:
- • AI-powered fraud detection
- • Real-time spending alerts
- • Instant card freeze/unfreeze
- • Zero liability fraud protection
Digital-native security architecture, launched 2022
Comprehensive Recommendation
For Full-Service Banking
DBS wins clearly with comprehensive services including home loans, business banking, investments, and international services.
For Digital-Only Banking
Trust Bank excels with simpler interface, lower fees, and pure digital-first experience for basic banking needs.
For Cost-Conscious Users
Trust Bank saves money with no minimum balance, lower fees, and no account maintenance charges.
Choose DBS if you:
- Need home loans or business banking
- Want access to physical branches
- Have higher savings balances (>S$75K)
- Require comprehensive investment options
- Value established banking relationships
Choose Trust Bank if you:
- Only need savings and spending accounts
- Prefer 100% digital banking experience
- Want to minimize banking fees
- Have savings under S$75,000
- Value simplicity over comprehensiveness
Final Verdict
The choice depends on your banking needs. DBS is ideal for comprehensive banking relationships with multiple products and services. Trust Bank excels for young professionals or digital natives who only need basic banking with minimal fees. Consider your current and future banking requirements when choosing.