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Anonymous

18 Apr 2019

∙

How does the calculation of interest work with DBS Multiplier? Does the balance from the other DBS savings account included?

I have a POSB Savings and DBS Multiplier; and wondering if the amount in POSB Savings will earn the 1.85% interest as well. I use the POSB Savings as a spending account and hope to transfer monthly budget (few thousands) into it but am afraid it will lose the 1.85% interest

DBS/POSB Multiplier Account

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HC Tang

23 Sep 2018

Financial Enthusiast, Budgeting at The Society

No. POSB and DBS accounts all works separately as indepedence.

DBSM (DBS Multiiplier) accounts interest were only given for the $ save in the DBSM a/c, not including any other a/c and those other a/c will have their own interest.

So to earn the 1.85%, transfer all you savings / $ into the DBSM a/c.

See DBSM account T&C: https://www.dbs.com.sg/iwov-resources/pdf/depos...

Interest calculation is at page 8, section C in the T&C above.

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Yong Kah Hwee

23 Sep 2018

Only the balance in your multiplier account is qualified for the higher interest.
An alternative would be to use a spreadsheet to keep track of how much you can spend

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Isabella Jo

26 Jul 2018

No, the balance from the other DBS savings account is not Included. Only the balance inside your M...

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I have open a DBS multiplier account to enjoy the interest. Previously I was using POSB saving account with 0.05% of interest. Should I close my old account,now that I have the DBS multiplier account?

I am a fresh graduate who is about to commence work. I have the Jumpstart and OCBC360 savings account but the interest rates plunged so I am thinking of opening DBS Multiplier. Should I?

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

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?

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