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Timothy Foo

20 Jul 2021

∙

Do DBS Multiplier Account interest calculation fluctuate every month?

Or you have to maintain the number of categories throughout?

For e.g. if my insurance premiums are only charged a few months in the year, then the rest of the year it doesn't help in my category. Then would I only get the higher interest for the months I pay my insurance premium?

DBS/POSB Multiplier Account

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Chris

21 Jul 2021

Owner and Writer at Tortoisemoney.com

Disclaimer: I don't have a DBS multiplier account so this is merely my interpretation of their FAQ hahaha. Do contact DBS directly for confirmation.

According to DBS' FAQ (link at the bottom), if your premiums are paid quarterly/annually, the insurance category is still filled for the eligible duration (usually 12 months) where the premium amount will be adjusted to a monthly figure to compute your interest for the month. E.g., if you pay $300 per quarter, that would register as a transaction under the insurance category for $100 every month. If $1,200 per year, then $100 per month.

https://www.dbs.com.sg/iwov-resources/pdf/depos...

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