Anonymous

12 Apr 2020

∙

Does USD in multiplier account earn interest?

I hold some foreign currency in my DBS Multiplier account, and was wondering if the money earns interest too? If it doesn't, I am thinking of changing it back to SGD but could incur forex risk.

DBS/POSB Multiplier Account

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Cherie Julianne Tan

12 Apr 2020

Marketing at MoneyOwl

It does earn you interest. However, it ranges from a mere 0.03% to 0.1% sadly.

Screenshot from their product page:

If you're afraid to incur the forex fees at the moment, would suggest that you look at other alternatives (similar to deposit accounts) like Fixed Deposits:

SCB: 1.3% p.a. (realistic) for 6 months
UOB: 1.2% p.a. for 6 months
CIMB: 1.65% p.a. for 6 months

Woah, honestly CIMB is quite attractive... Anyway, just do what your heart is most comfortable with, so you can sleep with a peace of mind. All the best!

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DBS/POSB Multiplier Account

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Up to 4.10% p.a.

INTEREST RATES

$0

MIN. INITIAL DEPOSIT

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MIN. AVG DAILY BALANCE

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Do I earn Multiplier interest on my other DBS savings account if I have a Multiplier account?

How do I increase my interest rate in the DBS multiplier account? I have credited my salary and linked a credit card to this DBS account. What else can I do to earn more interest rates? Thank you!?

Currently I have a POSB eSavings account and MySavings account and I intend to have a higher interest earned for thr savings account. Do I open the DBS multiplier acct? If I do, do I close one acct?

How do I check how much interest % is my DBS Multiplier Account earning for me?

I am planning to start a new RSP using DBS invest in order to earn higher interest on my multiplier account. I alrdy have Nikko AM STI ETF and Nikko AM Straits Trading Asia Ex Japan REIT.