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High interest rate
No minimum monthly salary credit or credit card spend
High 3.65% p.a. interest for accounts with min. $30,000 transaction amount
Higher interest rates subjected to fulfilling at least 1 transaction from specific categories
Unlikely to fulfill transactions from 3 categories to receive highest interest rate possible
Low minimum deposit cap of $25,000 for Income + 1 category
Low 0.05% p.a. base interest rate
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Deposit Details
No initial deposit required. No monthly account fees.
Fall below fee of S$5 will be charged if average daily balance falls below S$3,000
No foreign exchange fees when you transact directly from your foreign currency wallets
Interest Computation
| Income + 1 Category (1st $25k) | Income + 2 Category (1st $50k) | Income + 3 Category (Next $50k) | |
|---|---|---|---|
| Below $2k | 0.05% p.a. | 0.05% p.a. | 0.05% p.a. |
| $2k to <$2.5k | 1.40% p.a. | 1.80% p.a. | 2.00% p.a. |
| $2.5k to <$5k | 1.60% p.a. | 2.00% p.a. | 2.20% p.a. |
| $5k to <$15k | 1.80% p.a. | 2.20% p.a. | 2.40% p.a. |
| $15k to <$30k | 1.90% p.a. | 2.30% p.a. | 2.50% p.a. |
| $30k & above | 2.00% p.a. | 3.50% p.a. | 3.80% p.a. |
^ Income includes salary and dividends from CDP (previously under investments) via Giro
Earn higher interest on the first $100,000 in this account, with no lock-in period. Highest effective interest rates is 3.65% p.a (To be revised to highest effective rates of 3.30% p.a. from 1 Aug)
Deposits in excess of $100,000 will earn interest according to the prevailing base interest rate for that month
Interest rates on your DBS Multiplier Account balances is based on total transaction amount that includes your salary and transaction amount in 1 or more categories
The 4 categories include (excluding Income which is a pre-requisite to earn higher interest)
Spending with any DBS Credit Cards or POSB Credit Cards
Home loan installments with DBS home loan or POSB home loan
Monthly insurance premiums with DBS or POSB
Investing with DBS or POSB via unit trusts or DBS Vickers Online (Excluding dividends which will be qualified under Income category instead)
Promotions
Open a DBS Multiplier Account online and up to 6,000 DBS points (or 12,000 air miles) when you invest with DBS Vickers and start a new digiPortfolio on digiBank (min. $1000) and remain invested for next 6 months OR
Receive up to 1,000 DBS points (or 2,000 air miles) when you open a joint-alternate account online instantly now via MyInfo and deposit and maintain fresh funds of $3,000 for the next 6 consecutive months (Until 31 Aug 2020)
Click here to go to DBS website for more details
There are several current and savings accounts in Singapore that offer a higher interest rate...
What are the best and highest interest rates for deposits in Singapore?
