Ping Hui

20 Nov 2020

∙

How do I increase my interest rate in the DBS multiplier account? I have credited my salary and linked a credit card to this DBS account. What else can I do to earn more interest rates? Thank you!?

DBS/POSB Multiplier Account

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Jiayee

20 Nov 2020

Salaryman at some company

From https://www.dbs.com.sg/personal/deposits/bank-e... there's home loan instalment, insurance and investment. But there are some additional terms:

For insurance:

The first 12 months of your regular premium policy will be recognised for higher interest on your Multiplier Account balance.
Regular premium due will be recognised once the policy is in-force, after the free-look/cancellation period.

For investment:

Valid for new DBS Invest-Saver purchased after opening your Multiplier Account.
The monthly contribution amount of Invest-Saver plan for Unit Trusts (UT) or Exchange Traded Funds (ETF) will be recognised for the first 12 consecutive contributions per investment fund.
Contribution must be made in cash, not using funds from your CPF or Supplementary Retirement Scheme (SRS) account.

Not something that can be maintained for a long time because of the "first 12 months" rule. As for the home loan, I have not taken such a loan so I'm not entirely sure what the actual terms really mean.

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DBS/POSB Multiplier Account

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Hi all, I have a DBS multiplier account and want to increase my interest rate. I'm currently spending less than $600 per month, should I still get a credit card (I'm looking at Live Fresh CC)?

Hi I just opened a DBS Multiplier Account, do I qualify for higher interest rates with the provided debit card spending? Or is it limited to specifically credit card spending?

What are some suggestions on bank accounts and credit cards (or ones that link like UOB One and DBS Multiplier) for employees who don't get to have their salary credited under GIRO at all (requested from HR as well but that option is not available)?

Should I get the DBS Multipler account? Want to earn interest but my salary is so low.. After CPF, at most i get $1700. Wanted to apply DBS Multipler but I do not have credit card. Dilemma?

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?