How does the calculation of interest work with DBS Multiplier? Does the balance from the other DBS savings account included? - Seedly

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Asked by Anonymous

Asked on 26 Jul 2018

How does the calculation of interest work with DBS Multiplier? Does the balance from the other DBS savings account included?

I have a POSB Savings and DBS Multiplier; and wondering if the amount in POSB Savings will earn the 1.85% interest as well. I use the POSB Savings as a spending account and hope to transfer monthly budget (few thousands) into it but am afraid it will lose the 1.85% interest

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No. POSB and DBS accounts all works separately as indepedence.

DBSM (DBS Multiiplier) accounts interest were only given for the $ save in the DBSM a/c, not including any other a/c and those other a/c will have their own interest.

So to earn the 1.85%, transfer all you savings / $ into the DBSM a/c.

See DBSM account T&C: https://www.dbs.com.sg/iwov-resources/pdf/deposits/multiplier-programme/DBS%20Multiplier%20Programme_FAQ.pdf

Interest calculation is at page 8, section C in the T&C above.

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Yong Kah Hwee
Yong Kah Hwee
Top Contributor

Top Contributor (Feb)

Level 6. Master
Answered on 23 Sep 2018

Only the balance in your multiplier account is qualified for the higher interest. An alternative would be to use a spreadsheet to keep track of how much you can spend

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Isabella Jo
Isabella Jo

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Level 4. Prodigy
Answered on 26 Jul 2018

No, the balance from the other DBS savings account is not Included. Only the balance inside your Multiplier account will enjoy 1.85% interest. However, salary need not be credited to Multiplier account. You can credit your salary to any DBS/POSB account will do.

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