facebookWill PhD stipends be considered as salary crediting for DBS Multiplier Account (or any other similar accounts)? Also, will PhD's student status qualify them for credit cards? - Seedly

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Will PhD stipends be considered as salary crediting for DBS Multiplier Account (or any other similar accounts)? Also, will PhD's student status qualify them for credit cards?

Discussion (3)

What are your thoughts?

Hao Yu

Hao Yu

04 Sep 2018

Advisory Specialist at MoneyOwl

Nope. DBS will only recognize transaction with under the category “Salary”. A stipend from a scholarship will not be classified under “Salary”. In addition, some stipends maybe credited at a semi-annual basis instead of monthly basis. :) as for credit card, it should be no issue if u can hit the min salary!

Don't think it is because:

Your research scholarship stipend and top-ups / augmentations are not subjected to income tax.

However, if you are also receiving income under the Part-time Teaching scheme, these payments will be subjected to income tax.

http://www.nus.edu.sg/finance/students/research...

Kenneth Lou

Kenneth Lou

04 Sep 2018

Co-founder at Seedly

Depends on what the Salary crediting code is. It needs to be under 'SAL'. You can check with your Fa...

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