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Anonymous
What are the best options to switch to after the DBS multiplier account changes?
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Andy Sim
24 Feb 2020
HR Professional at a Financial Institution
OCBC 360 for me. Though interest might be lower compared to UOB (assuming ceteris paribus), it gives me more flexbility on CC spend as I may not be able to hit the $500 CC spend on UOB every month which is one of the criteria to get the high interest. For OCBC, if you can hit $500, then good, you'll have higher interest, but if you don't you'll still get a decent amount of interest, since CC spend is not a compulsory criteria
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Chin Guo Qiang (ITIL4 / CSPO / CSM)
19 Jan 2020
Assistant Vice President, IT Operations at Bank of China Limited
Back to OCBC 360 / CIMB FastSaver / Singapore Savings Bond trifecta combo.
Recent switched out of Citibank Citi Priority due to nerfed interest rate from 2.2% to 1.5% pa.
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Sharon
15 Jan 2020
Life Alchemist at School of Hard Knocks
Do note DBS gives a dividend yield of 4.6% p.a. if you're a shareholder. One may not need to switch bank.
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Either uob1 or ocbc360 could be a good alternative
However I really like dbs no minimum credit spend...
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OCBC360, if it's based on the salary crediting criteria alone since it has a higher limit cap of $70k. Alternatively, you might want to consider taking up a RSP with POSB investsaver to unlock the 2nd category (investment) for DBS Multiplier.
Might be helpful to use the calculators on the bank's website to have a better sense of the potential interest you can gain.