facebookI'm using DBS multiplier savings account and achieving >2 categories (salary credit, investment RSP, and credit card). Should i transfer the excess (from $50k since that's the cap) to SCB Jumpstarter? - Seedly

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Anonymous

21 Jan 2020

∙

Saving Hacks

I'm using DBS multiplier savings account and achieving >2 categories (salary credit, investment RSP, and credit card). Should i transfer the excess (from $50k since that's the cap) to SCB Jumpstarter?

Currently 26yo this year, would this be a good idea considering the recent changes in the DBS Multiplier account? If not the SCB Jumpstart, then which bank account should I be considering?

Discussion (3)

What are your thoughts?

Please be aware that there are some changes to the DBS Multiplier account from 1 Feb 2020. Salary and dividend credit will be grouped under income category. And cap of $25000 for salary + 1 other category interest rate.

Something you may want to think about after the 12 months recognition for the investment RSP ends.

Definitely yes, as the amount above $50k will be earning next to nothing in yout multiplier account. Transferring them to the SCB Jumpstart account would give you 2% per annum, so why not!

Mark Chan

Mark Chan

21 Jan 2020

Business Manager at Amobee

Hi Anon!

I would say that SCB Jumpstart is a gift to all aged between 18 - 26 years old. So yes, de...

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