DBS Multiplier Account

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Rating: 4.0/5.0 (1 Reviews)
Interest Rate Up to 3.65%
Min. Deposit $0
Review on DBS Multiplier Account
Pros

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

Cons

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

Sponsored Links

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  1.5% cashback on all spend OR
  5% cashback with min. deposit
  Signup gift of $80 cashback

  Up to 3.5% cashback on all spend
  Entertainer App which unlocks 1-for-1 deals
  Signup gift of Samsonite luggage OR
  Signup gift of $150 cashback

Deposit Details 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

 

Deposit Interest Rates 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 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

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1 Reviews
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Rating:
4.0/5.0 (1)
4.0/5.0 (1)
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