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Anonymous
Is there a way to get around this? Any other savings accounts that I should be considering?
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Andy Sim
02 Mar 2020
HR Professional at a Financial Institution
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DBS Multiplier did a revision in Feb20 for its 'Salary' category, now called 'Income' which could also be fulfilled using dividends credited into your DBS/POSB accounts.
Alternatively, you can consider creating a joint account and have the joint account holder credit his/her salary there - the salary credit will count for both of your individual DBS multiplier accounts.
If you are look for an alternative savings account, CIMB Fastsaver provides an interest of 1% with no minimum required and criteria needed.
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Hi Anon, Geraldo is right on the recent revision of the Multiplier account.
But you may also want to consider other no frills account such as CIMB Fastsaver or SCB Jumpstart account if you are 27 or below.