Asked 1w ago
DBS will just be my spendings account so is there a need to sign up for multiplier since I will not be putting large sum of money into it? Maybe about $800 per month for spendings after putting the remaining of my pay into savings / investment channels. Thanks for the help!
Sounds like you are channeling all your available cash to investments and savings. With consistently <$800 per month inside, this amounts to <$16/year or <$1-2/month of interest given your fresh grad status. I'm pretty sure it will be less than calculated since you're using it as a current account. Practically speaking, I wouldn't rush to do it but it's still good to open one as your eligible criterias ramp up in the future (when life happens). The threshold signal to upgrade will probably be when your mulitplier interest rates exceeds Singlife's current 2.5%p.a. or Stashaway's 1.4% p.a..
Definitely! DBS multiplier has one of the most attractive interest rates right now in the market.
the more terms you fufifll, the higher tier of interest you will be eligible! :)
Yes you shoudl! If your posb acc is still POSBkids then definitely upgrade it! With DBS multiplier you get more interest when you credit your salary to the account and use the account to pay for insurance/home loan/credit card/investments
Show More Products