For those who are switching out of DBS Multiplier, where are you guys switching over to? - Seedly
 

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DBS Multiplier

Asked by Anonymous

Asked 2w ago

For those who are switching out of DBS Multiplier, where are you guys switching over to?

What are the best options to switch to after the DBS multiplier account changes?

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Catsnipss
Catsnipss
Level 3. Wonderkid
Answered 5d ago

Either uob1 or ocbc360 could be a good alternative

However I really like dbs no minimum credit spend, allows me to hit 1 category easily to be tiered at 1.95% BUT cap at 25K.

you can explore cimb fast saver, or stashaway simple to put your overflow cash.

Im sticking to DBS because I don't think im able to hit the minimum spend on credit cards for uob / ocbc.

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Bayle

4d ago

The minimum credit card spend required for both the UOB One Account and OCBC 360 Account is just $500 though. If you have regular household expenses (utilities bills, telco bills, groceries, etc.), it's really not hard to meet this requirement on a regular basis. Another way to look at it is: if you place the maximum $75k in a UOB One account, you'll get ~$140/month in interest that's paid to you in cash. But if you only have $25k in a DBS Multiplier account, you'll only get ~$40/month in interest (assuming an interest rate of 1.90% p.a.).
Sharon
Sharon
Level 3. Wonderkid
Answered 5d ago

Do note DBS gives a dividend yield of 4.6% p.a. if you're a shareholder. One may not need to switch bank.

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Sharon
Sharon

4d ago

No that's not what I meant. Some people may not choose to switch banks, as they could invest their money in the stock which gives better returns than the multiplier account.
Chin Guo Qiang
Chin Guo Qiang

18h ago

It’s a different track if you hold DBS Stock, but the high entry price may deter a lot off. Cheaper stocks like CapitaLand can be a good dividend stock as well, for DBS Multiplier req, via DBS Vickers trading account.
Sarah Khoo
Sarah Khoo
Level 3. Wonderkid
Answered 2w ago

UOB ONE

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Tee-Ming Chew
Tee-Ming Chew

5d ago

Understand.... Am considering to switch to UOB as well since most of my credit spend is via UOB!
Bayle

4d ago

Do note that your credit card spend MUST be on one of the "selected" cards to be counted for the One account's bonus interest: (1) UOB One Card, (2) UOB Lady’s Card, (3) UOB YOLO Card, (4) UOB Debit Card and UOB Direct Visa Debit Card, or (5) Mighty FX Debit Card.

Back to OCBC 360 / CIMB FastSaver / Singapore Savings Bond trifecta combo.

Recent switched out of Citibank Citi Priority due to nerfed interest rate from 2.2% to 1.5% pa.

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JL
Jayden Lee
Level 4. Prodigy
Answered 1w ago

OCBC 360!

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Lky
Lky
Level 3. Wonderkid
Answered 2w ago

Maxing out SCB Jumpstart and then OCBC 360.

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Personally, I put a fraction of my money in UOB One and the rest of it in instruments that are capable of helping me reach my financial goals.

Here is everything about me and what I do best.

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