Which salary crediting saving accounts are you guys using and why?

For those who are not using, why not?

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thefrugalstudent

01 Aug 2021

Founder at thefrugalstudent.com

Hi Anon,

I'm using DBS multiplier! Personally, it's because it awards bonus interest without needing any credit card spending - PayLah spending qualifies as well, though the interest is capped at 0.4%. But the interest elsewhere isn't much higher, if at all.

It also allows you to earn higher interest using a joint account with your partner if you have credit card spending.

I wrote about this on my blog, you can check out the following posts if you'd like!

https://www.thefrugalstudent.com/dbs-multiplier...

https://www.thefrugalstudent.com/the-2-best-sav...

Hope this helps!

Regards,
thefrugalstudent

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Standard Chartered JumpStart Account

4.8

778 Reviews

Maximum Interest: 2.50% p.a. for balances up to S$50,000

INTEREST RATES

MIN. INITIAL DEPOSIT

MIN. AVG DAILY BALANCE

DBS/POSB Multiplier Account

4.4

321 Reviews

OCBC FRANK Account

4.7

211 Reviews

How do you split your money into separate bank accounts for savings, investing, spending, salary credit and which bank accounts are you using?

What are your thoughts on credit card standard chartered smart? And with 3k savings is it achievable to meet 10k with just normal savings account in Singlife? & salary of 2.8k to use a cc is it safe?

I am a working adult with a monthly salary, and I use my credit card quite heavily. With the upcoming changes, what are the savings accounts with bonus interests that I can consider?