You're right , it's ridiculously low, but it might be due to the tight labor market now. I guess you might also be comparing to BBs. Regionals like OCBC , BOC , Maybank usually start off below 5 if I'm not mistaken. The 3.5 - 4.5 is verbal and indicative only.... But if they officially offer 3.5 , I find it really low also.

Just thinking if the increment will be quick and if after probation there will be pay revision or not. I'm pretty sure the role is not for operations/support - pitch books , book building etc is incovolved in the role

In comparison the treasury role is for a car manufacturer MNC / conglomerate