DBS Multiplier

DBS Multiplier

4.5
(75)
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Ratings Breakdown (75)

4.5
  • 5
    49
  • 4
    22
  • 3
    3
  • 2
    0
  • 1
    1
Min Rate0.05%
Max Rate3.5%
Min Initial Deposit$3,000 Waived customers up to age 29
Interest TiersHit at least S$2,000 when you add your salary credit to any DBS/POSB account (compulsory) and eligible transactions in at least 1 category (credit card spend, home loan instalment, insurance, investments)
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Reviews (75)
Q&A (25)
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  • Lawrence J Nesado
    Lawrence J Nesado
    2 Reviews, 6 Upvotes
    Reviewed on 18 Feb 2019
    I could never earn any rebate nor interest with other banks without having multiple hoops to hop through. Now, with DBS I just sit back and let the interest roll. I regretted not having it earlier, could have accumulated $3k plus more interest. 😂
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  • Soon Bing Xian
    Soon Bing Xian
    3 Reviews, 4 Upvotes
    Reviewed on 10 Jan 2019
    Opened the DBS Multiplier account about 3 months ago and I am loving it so far! It is really good & pressure free for me as there is no minimum amount required to hit for the credit salary credit and the credit card spending category! I strongly encourage every working adult to open this account! I'm looking to unlock one more category for a higher interest rate. Hence, I am considering to purchase the SSB over the next few months.
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  • Malcolm Jia Hui
    Malcolm Jia Hui
    6 Reviews, 23 Upvotes
    Reviewed on 10 Jan 2019
    Opened this account last year and it is the best decision I made in my finance planning. No min salary nor min spending on credit card. Great starting account for young working adults. - Just need to use a DBS credit card and use it as your primary EZ-Link to easily unlock the credit card portion. - Just need to set aside $500/mth to invest in SSB for 6 months straight to unlock the investment category.
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  • Teng Kian En
    Teng Kian En
    1 Reviews, 4 Upvotes
    Reviewed on 17 Dec 2018
    Currently using DBS Multiplier as I'm investing using Vickers as well as having my pay sent into there. (having more services used on DBS grants greater interest rate btw) Customer service is decent as well. Could get better rates elsewhere but it's a bit too much work for me to source and apply a new account etc.
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  • Gu Yiwei
    Gu Yiwei
    1 Reviews, 3 Upvotes
    Reviewed on 14 Nov 2018
    Very happy after DBS revamped their multiplier account. Like the fact that no minimum on any of the categories, hope it will stay this way.
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  • Yong Kah Hwee
    Yong Kah Hwee
    10 Reviews, 748 Upvotes
    Reviewed on 17 Sep 2018
    DBS Multiplier was extremely easy to set up. For a savings account, it offers very decent returns, which can be increased by fulfilling more categories! I like the fact that there is no minimum spending that needs to be charged to my credit card, making this the perfect account to be used for a fresh grad!
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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 account comes with a few criteria:

When you credit your salary via GIRO and fulfil 1 transaction category:

Monthly transactions and relative bonus interest

  • 1.55% p.a. bonus for monthly transactions of S$2,000 to S$2,499
  • 1.85% p.a. bonus for monthly transactions of S$2,500 to S$4,999
  • 1.90% p.a. bonus for monthly transactions of S$5,000 to S$14,999
  • 2.00% p.a. bonus for monthly transactions of S$15,000 to S$29,999
  • 2.08% 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 via GIRO and fulfil 2 transaction categories, your bonus interest for the same amount of monthly transactions will be higher:

Monthly transactions and relative bonus interest

  • 1.80% p.a. bonus for monthly transactions of S$2,000 to S$2,499
  • 2.00% p.a. bonus for monthly transactions of S$2,500 to S$4,999
  • 2.20% p.a. bonus for monthly transactions of S$5,000 to S$14,999
  • 2.30% p.a. bonus for monthly transactions of S$15,000 to S$29,999
  • 3.50% p.a. bonus for monthly transactions of above S$30,000

*Bonus interest only applies to the 1st S$50,000 in your Multiplier account

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

Terms and fees for DBS Multiplier Account

  • Initial deposit: S$3000
  • Citizenship status: Singaporeans, PRs and foreigners
  • Minimum age to open account: 18
  • Minimum Average Daily Balance: S$3,000
  • Fall below fee: S$5 (waived for customers up to 29)
  • Early closure fee: S$30 if below 6 months

For more information, you can check out their website here.