facebookWhat 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? - Seedly

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Anonymous

09 Mar 2020

Saving Hacks

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?

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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.

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.

Pang Zhe Liang

13 Feb 2020

Fee-Based Financial Advisory Manager at Financial Alliance Pte Ltd (IFA Firm)

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

It depends on wheth...

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