Which is the best joint account for couple saving for flat and wedding?

Hi Anon,

What I'm proposing isn't exactly going to utilise the purpose of a joint account, but you may find it useful anyway so I'll just share it!

You and your significant other can open a DBS My account as a joint account, and also individually open a DBS Multiplier account. Both of you can credit your salaries into the joint account and then transfer it into your Multiplier accounts to earn bonus interest. The rationale for this is that you may be able to bump your Multiplier interest tier up to the next tier because the total amount that both of you would have for salary crediting will now be the sum of both of your salaries as compared to your individual salaries. This works because DBS counts any salary being credited into an account with your name as your salary. But the money needs to be transferred into the Multiplier account because only the balance in this account will earn bonus interest.

Of course, this would mean that instead of using the joint account for savings as a couple, you'd be using both of your Multiplier accounts, which is why I said it doesn't really utilise the purpose of a joint account.

All the best and congrats to both of you!!

Regards,

thefrugalstudent​​​