facebookHow 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!? - Seedly

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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!?

Discussion (1)

What are your thoughts?

Jiayee

Jiayee

20 Nov 2020

Level 11Β·Salaryman at some company

From https://www.dbs.com.sg/personal/deposits/bank-e... there's home loan instalment, insurance and investment. But there are some additional terms:

For insurance:

  • The first 12 months of your regular premium policy will be recognised for higher interest on your Multiplier Account balance.

  • Regular premium due will be recognised once the policy is in-force, after the free-look/cancellation period.

For investment:

  • Valid for new DBS Invest-Saver purchased after opening your Multiplier Account.

  • The monthly contribution amount of Invest-Saver plan for Unit Trusts (UT) or Exchange Traded Funds (ETF) will be recognised for the first 12 consecutive contributions per investment fund.

  • Contribution must be made in cash, not using funds from your CPF or Supplementary Retirement Scheme (SRS) account.

Not something that can be maintained for a long time because of the "first 12 months" rule. As for the home loan, I have not taken such a loan so I'm not entirely sure what the actual terms really mean.

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