This gives you the advantage of picking another other bank’s cards if those fit into your spending habits better and/or give better rewards, even if DBS cards like Woman’s World Card and LiveFresh are pretty decent. For about 2 years, the interest was really good for me, as it was easy to meet the requirements of Salary Crediting + 1 other category. Do note that you will need a DBS multi-currency account (such as the DBS Multiplier Account or DBS Multi-Currency Account) to get started with digiPortfolio. Deposits in excess of $100,000 will earn interest according to the prevailing base interest rate for that month, Interest rates on your DBS Multiplier Account balances is based on total transaction amount that includes your income and transaction amount in 1 or more categories, Dividends from CDP may be credited into personal or joint DBS / POSB savings / current accounts, DBS wealth management account, supplementary retirement scheme (SRS) account or CPF investment account (CPFIA), The 4 categories include (excluding Income which is a pre-requisite to earn higher interest), Spending with any DBS Credit Cards or POSB Credit Cards, Home loan installments with DBS home loan or POSB home loan, Monthly insurance premiums with DBS or POSB, Investing with DBS or POSB via unit trusts or DBS Vickers Online (Excluding dividends which will be qualified under Income category instead), Receive $15 WhyQ vouchers when you open a joint-alternate account online and deposit and maintain fresh funds of $3,000 for the next 6 consecutive months (Until 31 Oct 2020), Click here to go to DBS website for more details. Check out attractive promos here! Entertainer App which unlocks 1-for-1 deals [Customer Service]
Then 1% or 2% helps a bit. Ease of opening account on DBS Online platform.
Assuming that you satisfy the requirement, after 12 months your interest will fall to 3.5%. Previously, all one needed was to credit their salary, and spend at least a dollar on a DBS card for an easy and relatively decent interest rate on $50,000 of their savings. As a rule of thumb, it is easier to increase your interest by having more categories than the transaction value. This is a good category to add to your Multiplier if you are on bank loans or intending to apply for one. Your email address will not be published. As such, we will hold off making verdicts until the dust has settled. While this is not a miles card, it has been giving me good discounts at SPC petrol stations.
Ideal for borrowers with DBS home loan or investors with DBS Vickers. July 11, 2019. Previously I was using Bank O as my crediting account. Accomplish another category, say investment, and your interest goes up slightly. Copyright (C) 2013 - 2020 All Rights Reserved, Best Savings Account Interest Rates Promotion in Singapore. Your use of our services is subject to these revised terms which give you more control and protection over your data. Sarah’s balance of S$100,000 in her DBS Multiplier Account and total eligible transactions of S$28,500 earn her interest of: 1.90% p.a. I am happy to report that after getting onto Multiplier, I have been getting 37 times the amount of interest I used to receive! DBS Multiplier Account. The extra Star is if you have a home loan with DBS.
The maximum interest a depositor can earn in a year is 3.8%. Secondly, you are required to spend at least S$2,000 per month to qualify for the first bonus rate tier above 0.05%. Sorry, your blog cannot share posts by email.
Insurance - selected regular premium policies. So, it’s a win win scenario in my situation. Do note that there is a balance cap for Income + transactions in 1 category. I don’t have this problem with Multiplier. POSB Invest Saver Journey. For example, dividends from the Hong Kong market credited into your DBS account can now qualify. I’ve always discouraged people from buying financial products from banks, but Vickers has pretty competitive brokerage fees for trading stocks, and investing via DBS Invest-Saver can be a pretty decent deal if you opt for passively managed index funds with 1% or less sales charge and low annual management fees. However it allows account holders to earn bonus interest if he or she can do the following actions: There is no minimum amount for each action.
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