DBS Multiplier vs OCBC 360? - Seedly
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DBS Multiplier Account

OCBC 360 Account

Kenny Tan

Asked on 24 Nov 2019

DBS Multiplier vs OCBC 360?

What are the pros and cons for both and which would you recommend?


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Hi Kenny,

Quite a number of differences between both accounts, so it does depend on whether you bank with OCBC or DBS, if your home loan is with any of the banks, etc. I will highlight the key points here.

  • OCBC 360 can award bonus interest just by the crediting of your salary, whereas DBS cannot

  • OCBC 360 needs $2000/mth salary credit as a minimum. DBS requires your 'transactions' with them to be more than $2000/mth to get the first layer of bonus interest

  • OCBC 360 bonus interest caps at $70K spread over the first $35K and the next $35K, DBS is $100K over the first $50K and the next $50K

  • The theoretical maximum interest is higher on DBS

  • Husband and wife can credit salary to a joint DBS account which will trigger the multiplier bonuses on their individual accounts (no word from OCBC on this)

  • OCBC award extra interest just by ensuring you increase your account balance. DBS does not

  • Both award interest if you get insurance or investment products from them, but I would caution against it.

  • OCBC needs a minimum spend of $500 on thier credit cards, DBS just needs you to spend any amount

Those are the key considerations, in my view. So keep them in mind when deciding which would suit you better.


ūüĎć 2

Indepth comparison done by Seedly previously below https://blog.seedly.sg/best-savings-accounts-singapore/ The big gotcha for OCBC 360 is that to qualify for credit card spend requirement needs 500 of spend per month whereas DBS is anything... best to readc through conditions and see how your own transaction pattern would go with requirements.


ūüĎć 0
Elijah Lee
Elijah Lee

24 Nov 2019

Kelly, its $500 for OCBC in terms of the spend for the 360 bonus interest, but $800 if you want to get the full cashback rewards.
Kelly Trinh
Kelly Trinh

24 Nov 2019

That thanks - updated