Advertisement

Anonymous

12 Jun 2020

∙

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?

Based on my spending habits, I will probably spend <$500 on credit card so I was thinking of applying for a DBS Multiplier account. I intend to credit my salary to the DBS Multiplier account and spend minimally on cards which will yield 1.60%. This is much better than Jumpstart (1%) and OCBC360 (0.8%). But I am unsure if DBS Multiplier will cut their rates soon, so I am also unsure if I should go ahead with this plan.

Standard Chartered JumpStart Account OCBC 360 Account DBS/POSB Multiplier Account

1

Discussion (1)

What are your thoughts?

Learn how to style your text

Hong Foo Shen

12 Jun 2020

You got your answer there in terms of comparing interest rates based on your spending habit. I suggest you to just go ahead with your plan and worry about DBS changing terms later, nobody knows and it takes minimal effort to just inform your HR to change your salary crediting account. You can observe and make the change later, if necessary.

Reply

Save

Write your thoughts

Related Posts

I'm a fresh grad trying to decide which savings account to open. Was gonna go for DBS Multiplier until they revised their interest rates today. Any recommendations?

I’m a fresh graduate and am looking to open a savings account with good interest rates! OCBC360 or Singlife?

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?

With the cuts in interest rates across various banks (SC Jumpstart, DBS Multiplier), what other viable savings accounts are there that yield better returns?

DBS will cut interest rates on flagship Multiplier savings account again from Aug 1, amid a low interest rate environment and macro uncertainties. Will this push you to consider other banks instead?

Related Products

DBS/POSB Multiplier Account

4.4

321 Reviews

Up to 4.10% p.a.

INTEREST RATES

$0

MIN. INITIAL DEPOSIT

$0

MIN. AVG DAILY BALANCE

OCBC 360 Account

4.3

204 Reviews

Standard Chartered JumpStart Account

4.8

782 Reviews

Related Posts

I'm a fresh grad trying to decide which savings account to open. Was gonna go for DBS Multiplier until they revised their interest rates today. Any recommendations?

I’m a fresh graduate and am looking to open a savings account with good interest rates! OCBC360 or Singlife?

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?

With the cuts in interest rates across various banks (SC Jumpstart, DBS Multiplier), what other viable savings accounts are there that yield better returns?

DBS will cut interest rates on flagship Multiplier savings account again from Aug 1, amid a low interest rate environment and macro uncertainties. Will this push you to consider other banks instead?

Advertisement