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

Anonymous

18 Apr 2019

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Saving Hacks

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

Discussion (3)

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HC Tang

23 Sep 2018

Financial Enthusiast, Budgeting at The Society

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.

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

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See DBSM account T&C: https://www.dbs.com.sg/iwov-resources/pdf/depos...

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

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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

No, the balance from the other DBS savings account is not Included. Only the balance inside your M...

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