Advertisement

Anonymous

09 Mar 2020

∙

What is the interest rate after the first 25k on DBS multiplier? Is it 0.05% (standard bank interest rate)? If so, should i park my money (in excess of 25k) elsewhere for higher interest?

Assuming I only have SALARY + 1 category spend. Are there other bank accounts that I should be considering?

DBS/POSB Multiplier Account

3

Discussion (3)

What are your thoughts?

Learn how to style your text

Andy Sim

09 Mar 2020

HR Professional at a Financial Institution

Yep you should definitely park your excess funds out of Multiplier. You can consider SCB Jumpstart or CIMB Fastsaver.

Reply

Save

MT2020

09 Mar 2020

If you are between the age of 18-26, you can consider creating a standard chartered jumpstart accounts which pays an interest of 2% per annum.

Reply

Save

Pang Zhe Liang

13 Feb 2020

Lead of Research & Solutions at Havend Pte Ltd

It will be based on the prevailing interest rate, currently at 0.05% per annum.

It depends on wheth...

Write your thoughts

Related Posts

I am currently enjoying the highest interest rate possible on the DBS multiplier (2 categories). Should I get another savings account or invest the excess money (amount above 50k) into digiportfolio?

Parking money in deposits with high interest rate or low-risk money funds with higher interest rate?

Would you save your money in an investment plan (projected interest rate at ~7-10%) or save it in the bank (interest rate at 0.05%) or save it in a savings plan (interest rate at 3%)?

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?

I currently have $20k in my DBS mulltiplier earning 1.6%, intending to use this money in near future e.g. 3 to 4 years time. Where else will be good and secure to park this money for higher interest?

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

Standard Chartered JumpStart Account

4.8

782 Reviews

OCBC FRANK Account

4.7

212 Reviews

Related Posts

I am currently enjoying the highest interest rate possible on the DBS multiplier (2 categories). Should I get another savings account or invest the excess money (amount above 50k) into digiportfolio?

Parking money in deposits with high interest rate or low-risk money funds with higher interest rate?

Would you save your money in an investment plan (projected interest rate at ~7-10%) or save it in the bank (interest rate at 0.05%) or save it in a savings plan (interest rate at 3%)?

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?

I currently have $20k in my DBS mulltiplier earning 1.6%, intending to use this money in near future e.g. 3 to 4 years time. Where else will be good and secure to park this money for higher interest?

Advertisement