DBS will cut interest rates on flagship Multiplier savings account again from Aug 1, amid a low interest rate environment and macro uncertainties. Will this push you to consider other banks instead?

Can consider Sif, RHB, CIMB, SingLife or Trust Bank.

Hi Clara,

The hassle involved with switching accounts every time a bank changes interest rate is probably going to deter me from doing so. I'm with OCBC by the way.

To me, even if OCBC follows suit and cuts again, I have no problem meeting the criteria for extra interest (Just need to credit salary). Since time is money, trying to figure out every 2-3 months which bank would give a better interest each time and then going through the paperwork with HR, and waiting for approval, is probably going to detract me from my job, and all that for an extra $10-$20 a month maybe? Doesn't seem worth it to me. I'd rather spend that time analyzing what's my next step in my investment plan, like which stock I'd like to add on to my portfolio, for example.