Advertisement
Should I migrate funds from DBS Multiplier?
7
Discussion (7)
Learn how to style your text
Jiayee
02 Dec 2020
Salaryman at some company
Reply
Save
Elijah Lee
01 Dec 2020
Senior Financial Services Manager at Phillip Securities (Jurong East)
Hi Freddy,
I expect that most banks will be cutting rates across the board over the next few months.
DBS has made the first move this time.
Personally, I will just look for an account where I can regularly meet the qualifying criteria without much hassle. For example, since I can regularly save mroe than $500/mth and credit my salary, OCBC 360 is pretty much a no brainer for me. Even if the interest rates drop, the hassle of changing salary crediting accounts every few months may not be worth it. If I had a DBS credit card, and a DBS home loan, then yes, I would probably go with DBS multiplier since I can reliably meet most of the criteria.
You can consider CIMB also, as there are no criteria to their fastsaver account. Personally, salary crediting is about the only hoop that I will jump through, anything else like forcing me to spend or invest or insure with the bank and I will have to give it a miss
Reply
Save
I donβt think Maybank & OCCB 360 have better rates, maybe just +0.2%Pa compare to DBS. Suggest you t...
Read 1 other comments with a Seedly account
You will also enjoy exclusive benefits and get access to members only features.
Sign up or login with an email here
Write your thoughts
Related Articles
Related Posts
Related Products
4.4
321 Reviews
Up to 4.10% p.a.
INTEREST RATES
$0
MIN. INITIAL DEPOSIT
$0
MIN. AVG DAILY BALANCE
3.5
10 Reviews
4.3
203 Reviews
Related Posts
Advertisement
The alternatives tend to slash their interests soon after so I may stay put.