Since DBS is going to reduce their interest rates for the multiplier account, anyone looking to shift funds and where? I am looking at Maybank Saveup and OCBC 360... thoughts?

The alternatives tend to slash their interests soon after so I may stay put.

Hi Freddy,

I expect that most banks will be cutting rates across the board over the next few months.

DBS has made the first move this time.

Personally, I will just look for an account where I can regularly meet the qualifying criteria without much hassle. For example, since I can regularly save mroe than $500/mth and credit my salary, OCBC 360 is pretty much a no brainer for me. Even if the interest rates drop, the hassle of changing salary crediting accounts every few months may not be worth it. If I had a DBS credit card, and a DBS home loan, then yes, I would probably go with DBS multiplier since I can reliably meet most of the criteria.

You can consider CIMB also, as there are no criteria to their fastsaver account. Personally, salary crediting is about the only hoop that I will jump through, anything else like forcing me to spend or invest or insure with the bank and I will have to give it a miss