DBS Multiplier

DBS Multiplier

4.4
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More about DBS Multiplier
Min Rate0.05%
Max Rate3.5%
Min Initial Deposit$3,000
Interest TiersBased on Salary credit and 4 category transactions (card spend, home loan instalments, insurance, investments)
DBS Multiplier

DBS Multiplier

4.4
Write a review

More About DBS Multiplier

Min Rate0.05%
Max Rate3.5%
Min Initial Deposit$3,000
Interest TiersBased on Salary credit and 4 category transactions (card spend, home loan instalments, insurance, investments)

Ratings Breakdown

4.4
  • 5
    12
  • 4
    4
  • 3
    1
  • 2
    0
  • 1
    1

DBS Multiplier Reviews

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  • Si Ying
    Si Ying
    Updated on 16 May 2018
    Pros: -Easy to met -Can be use with ongoing promotion from DBS (like SAYE etc.) - Active Burrow page for us to get MORE discoutn on top of normal DBS ongoing promo Cons: - Ony capped at $50k
    Comments (0)
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  • Jessie Yap
    Jessie Yap
    Updated on 05 May 2018
    Was with OCBC360 until DBS multiplier changed their interest rates. The current rates are definitely higher than what OCBC 360 offers. Easy to use and if you join the Facebook group (closed group: The Burrow), you get lots of tips and information on how to maximise savings / earnings / spendings. Plus it seems like DBS has a lot of credit card or app promotions going on every month, so being with DBS right now really does give you lots of benefits.
    Comments (0)
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  • Fion Teo
    Fion Teo
    Posted on 01 May 2018
    Talk to a banker at DBS and went through financial need analysis etc. After that I decided to open a DBS multipler account and also purchase an endowment. The application process was very tedious due to the fact that there was system error during application and we actually filled up the application forms 4 times. IMagine the number of times I need to sign on the ipad. Luckily my banker is a nice guy who kept making sure that I am comfortable and patiently answered all my questions.
    Comments (0)
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  • Isabella Jo
    Isabella Jo
    Posted on 01 May 2018
    Great offer from DBS. Especially we are allowed to combine with DBS BYOB. Love that there is no minimal credit card spend unlike other bank.
    Comments (0)
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  • Jeff Yeo
    Jeff Yeo
    Posted on 01 May 2018
    Wanted to share interesting observations from my interaction with DBS I recently just setup both the multiplier account and a DBS Vickers account online Some of the benefits from the linkage 1) single sign on from iBanking into Vickers - no need to remember a separate login ID and password but 2nd factor Auth is still in place(security is important!) 2) consolidated view from iBanking - but details are still in Vickers portal 3) No need for set up of giro payment services after a trade has been executed - auto deduction 4) The whole setup becomes a "cash upfront account" when trading in Vickers - lower trading cost I think DBS has done a great job in reducing the process and making it easier for customers to bank and trade.
    Comments (0)
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  • Steph Yeo
    Steph Yeo
    Posted on 15 Apr 2018
    Very pleased with my multiplier account for the high interest rates it gives with quite minimal efforts that i put in. Especially appreciative that transactions across other dbs/posb accounts qualify, so I don't have to change my CDP account and don't have to bother my HR with another salary crediting account change.
    Comments (0)
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  • Carrie Sim-Goh
    Carrie Sim-Goh
    Updated on 21 Mar 2018
    DBS Multiplier is a quick and easy way to earn a higher level of interest on my savings. I was able to easily open a Multiplier account and promptly transferred most of my savings into it. I like that it progressively bumps up or drops the % of interest earned each month depending on if you fulfill the criteria across DBS banking products. One of the cons as many have pointed out is the fall below fee if I don't have a minimum of $3,000 in my Multiplier account, but considering that the amount of interest I have earned within a short two months has been significantly higher than what I used to get and nothing in my spending or banking habits have changed. It really makes sense to switch to this if you're already charging to your credit card regularly for payments. I've given it 5 stars because DBS has taken effort to engage the community via a Facebook Group, The Burrow, to help customers understand their products and Multiplier better. (I was honestly a bit confused at first.) The Multiplier Account Summary is also a really helpful "at-a-glance" to figure out what % of interest I'll be getting for the month based on my transactions.
    Comments (0)
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  • Randall Tan
    Randall Tan
    Updated on 20 Mar 2018
    Good for: -Young working adults who just started working (Low salary credit of $2k) -Low credit spending (those who cannot meet $500 spending) -New or want to start POSB invest-saver -Less than or equal to $50k savings (anything above, transfer to CIMB Fastsaver) My strategy to utilised DBS Multiplier Account: -DBS Credit card spend (at least $1) -DBS visa debit card(5% rebate t&c applies) -POSB invest-saver Salary credit: $2000 Credit card: $1 Total interests earn: 1.55% ($31/mth) Salary credit: $2000 Credit card: $1 POSB Invest-Saver: $100 Total interests earn: 1.85% ($38.80/mth) So effectively, POSB Invest-Saver is commission fee FREE! ($7.80 per month extra to invest) *Only applies for 12mths for POSB Invest-Saver
    Comments (0)
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  • Bernard Koh
    Bernard Koh
    Updated on 20 Mar 2018
    Switched over from ocbc360 to the new dbs multiplier last month. It was a seamless process which took 5mins or less via iBanking. I think this would be a better savings account for a miles chaser like myself. For me, the multiplier was naturally better since I was already using altitude/wwmc. Uob is out since they excluded all their miles earning cards. My Ocbc 360 tgt with the titanium rewards card was pegged at 1.85% max. The multiplier was 1.85% when my total transaction was below 5k. Which means, thee more I earn/spend, the possibility of higher interest rate. What's not to love! Plus,having dividends credited to my Posb account was considered under the 'invest' category in dbs. Satisfying 2 categories, I could bump my interest rate even higher on certain months with dividends.
    Comments (0)
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  • Tee-Ming Chew
    Tee-Ming Chew
    Updated on 14 Mar 2018
    Been on DBS Multiplier for a month (haven’t receive my first bonus interest yet). Will review more on the setting up process. The application is easy, just have to login to your usual DBS account and apply through there. The account got created in a few working days. However, the credit card process took awhile (around 1-2 weeks). Bonus: use the Live Fresh card and enjoy 10% cashback for the first 6 months (min spend is $600)! Also stack with the spend requirement to earn 1.85% on Multiplier!
    Comments (0)
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How to maximise the interest rate for DBS Multiplier Savings Account?

Base interest rate(%) p.a.

The base interest rate per annum for DBS Multiplier savings account is 0.05%

Bonus Interest Rate(%) p.a

The bonus interest rate per annum for DBS Multiplier savings account comes with a few criteria:

When you credit your salary and fulfil 1 transaction category:

Monthly transactions and relative bonus interest

  • 1.50% p.a. bonus for monthly transactions of S$2,000 to S$2,499
  • 1.80% p.a. bonus for monthly transactions of S$2,500 to S$4,999
  • 1.85% p.a. bonus for monthly transactions of S$5,000 to S$14,999
  • 1.95% p.a. bonus for monthly transactions of S$15,000 to S$29,999
  • 2.03% p.a. bonus for monthly transactions of above S$30,000

*Bonus interest only applies to the 1st S$50,000

When you credit your salary and fulfil 2 transaction category:

Monthly transactions and relative bonus interest

  • 1.75% p.a. bonus for monthly transactions of S$2,000 to S$2,499
  • 1.98% p.a. bonus for monthly transactions of S$2,500 to S$4,999
  • 2.15% p.a. bonus for monthly transactions of S$5,000 to S$14,999
  • 2.25% p.a. bonus for monthly transactions of S$15,000 to S$29,999
  • 3.45% p.a. bonus for monthly transactions of above S$30,000

*Bonus interest only applies to the 1st S$50,000

Categories include credit card spend, home loan instalments, insurance or investments with DBS or POSB.

Terms and fees for DBS Multiplier Savings Account

  • Initial deposit: S$0
  • Citizenship status: Singaporeans, PRs and foreigners
  • Minimum age to open account: 18
  • Minimum Average Daily Balance: S$3,000
  • Fall below fee: S$5
  • Early closure fee: S$30 if below 6 months

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