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

35 Reviews
4.4
  • 5
    21
  • 4
    11
  • 3
    2
  • 2
    0
  • 1
    1

DBS Multiplier Reviews

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  • Tee-Ming Chew
    Tee-Ming Chew
    7 Reviews, 44 Upvotes
    Updated on 16 Jul 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)
    3
    0
  • Ching Ying
    Ching Ying
    2 Reviews, 3 Upvotes
    Posted on 10 Jul 2018
    Good start for newly employed grads to credit salary in. Pretty attractive sign up bonuses too if you join the burrow group on fb
    Comments (0)
    1
    0
  • Albert Millardo
    Albert Millardo
    2 Reviews, 6 Upvotes
    Posted on 10 Jul 2018
    Probably the best bank accounts with high interest rate as of now considering the high interest given and the criteria to hit to obtain the higher interest. With their own FB community (The Burrow), this account is perfect for people who like high interest bank account and surfing facebook daily :p. Check out their FB group for more promos / deals / events / finance information!
    Comments (0)
    1
    0
  • Darren Xie Xie
    Darren Xie Xie
    2 Reviews, 3 Upvotes
    Posted on 10 Jul 2018
    After setting up this account, i realised i could not meet some criteria. But i was surprised to receive a $20 gift from posb.
    Comments (0)
    1
    0
  • Ma Su Xian
    Ma Su Xian
    2 Reviews, 3 Upvotes
    Posted on 10 Jul 2018
    Just signed up for the multiplier saving account. The next thing is to get a credit card to complement with it!
    Comments (0)
    1
    0
  • Isabella Jo
    Isabella Jo
    3 Reviews, 3 Upvotes
    Updated on 10 Jul 2018
    Great offer from DBS. Especially we are allowed to combine with another promotion DBS BYOB. Love that there is no minimal credit card spend unlike other bank.
    Comments (0)
    1
    0
  • JianHao Soo
    JianHao Soo
    4 Reviews, 13 Upvotes
    Posted on 10 Jul 2018
    Easy to get return of 2%. Here is how I maximised the interest: (1) Salary crediting (2) Spending via credit card - ANY AMOUNT WILL DO Just buy $1 Apple pie or $0.80 Vanilla Cone from Mac every month :) (3) STI ETF RSP Sales charges is waived by DBS with their ongoing promotion
    Comments (0)
    1
    0
  • Zhuang Si'en
    Zhuang Si'en
    3 Reviews, 4 Upvotes
    Posted on 10 Jul 2018
    My all star Favourite bank account as the requirements are easy to meet (simple spend any amount on their credit card). I find it hard to meet the $500 min spending for most banks' credit cards so this account really works for me! Their interest rates are also rather high! Say hello to free money easily every month!!
    Comments (0)
    1
    0
  • Chen Yong Ng
    Chen Yong Ng
    8 Reviews, 11 Upvotes
    Posted on 16 Jun 2018
    Switched from OCBC 360 to Multiplier as it gives me higher interest rate. It is good as it does not require minimum spending for credit card. With that, I need not to track my spending to hit the target for the higher interest rate.
    Comments (0)
    1
    0
  • Hannah Foo
    Hannah Foo
    4 Reviews, 23 Upvotes
    Posted on 14 Jun 2018
    I highly recommend the DBS multipler account! Can easily get 2% interest, which is wayyy more than the usual 0.05% in normal POSB savings account. Only downside is that the high interest rates are applied to the first $50,000. Hope they will increase this in the future.
    Comments (0)
    0
    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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