The DBS Multiplier Calculator is a powerful tool that helps Singaporeans maximize their savings. With this calculator, you can easily estimate your potential interest earnings based on your account balance and transaction activity. The calculator is available on the DBS website and is free to use for all Multiplier Account holders.
Understanding the DBS Multiplier Account is key to making the most of the calculator. The account rewards customers for their banking relationship with DBS, with higher interest rates for those who credit their salary and transact in multiple categories. The more categories you transact in, the higher your interest rate will be. This makes the account a great option for those looking to grow their savings over time.
Maximising Your Savings with the DBS Multiplier Calculator is easy. Simply input your account balance and transaction activity into the calculator to see your estimated interest earnings. You can then adjust your banking behaviour accordingly to reach the next interest tier and earn even more. With the DBS Multiplier Calculator, you can take control of your financial journey and achieve your savings goals faster.
Key Takeaways
- The DBS Multiplier Calculator helps Singaporeans estimate their potential interest earnings based on their account balance and transaction activity.
- Understanding the DBS Multiplier Account is key to maximizing your savings with the calculator.
- Maximising your savings with the DBS Multiplier Calculator is easy and can help you achieve your financial goals faster.
Understanding the DBS Multiplier Account
If you’re looking for a high-interest savings account in Singapore, the DBS Multiplier Account is a great option to consider. This account allows you to earn bonus interest on your savings by meeting certain criteria. In this section, we’ll take a closer look at how the Multiplier works and the benefits it offers.
How the Multiplier Works
The DBS Multiplier Account is designed to reward you for your banking relationship with DBS. To earn bonus interest, you’ll need to meet at least one of the following categories:
- Credit your salary into your DBS Multiplier Account
- Credit your dividends or interest into your DBS Multiplier Account
- Make payments using DBS/POSB cards
- Purchase eligible insurance products from DBS/POSB
- Increase your DBS Home Loan instalment amount
The more categories you fulfil, the more bonus interest you can earn. For example, if you credit your salary and make payments using your DBS/POSB cards, you’ll earn a higher interest rate than if you only fulfil one category.
The interest rate you can earn on your savings depends on the amount you have in your account and the number of categories you fulfil. The DBS Multiplier Calculator can help you estimate the interest rate you can earn based on your banking relationship with DBS.
Benefits of Multiplier Account
The DBS Multiplier Account offers a number of benefits for savers. Here are a few key advantages:
- High interest rates: With the Multiplier Account, you can earn up to 4.1% p.a. on your savings. This is significantly higher than the interest rates offered by most basic savings accounts.
- No minimum amount required: You don’t need to maintain a minimum balance to earn interest on your Multiplier Account.
- Flexibility: The Multiplier Account allows you to choose the categories that work best for you. You can change your categories at any time to maximise your bonus interest.
- Easy access: You can manage your Multiplier Account online or through the DBS/POSB mobile app.
In conclusion, the DBS Multiplier Account is a great option for savers who want to earn high interest rates on their savings. By meeting certain criteria, you can earn bonus interest and maximise your returns. Use the Multiplier Calculator to estimate your potential interest rate and start saving today!
Maximising Your Savings
The DBS Multiplier Calculator enables you to maximise your savings and earn higher interest rates by incorporating various factors such as salary credits, credit card expenditure, and investment dividends. Here’s how you can optimise each factor to increase your savings:
Optimising Salary Credits
One of the easiest ways to maximise your savings is by crediting your salary into your DBS Multiplier Account. The more you credit, the higher your interest rate. For instance, if you credit $2,500 or more per month, you can earn an interest rate of up to 3.80% per annum.
Leveraging Credit Card Expenditure
You can also earn higher interest rates by leveraging your credit card expenditure. By spending on your DBS/POSB credit card, you can earn cashback and also increase your savings. For example, if you spend at least $2,000 per month on your credit card, you can earn an interest rate of up to 3.80% per annum.
Incorporating Investment Dividends
If you have investments, you can also incorporate them into your DBS Multiplier Account to earn higher interest rates. By linking your DBS Vickers trading account, you can earn an interest rate of up to 4.10% per annum.
In conclusion, the DBS Multiplier Calculator is a powerful tool that can help you maximise your savings and earn higher interest rates. By optimising your salary credits, leveraging credit card expenditure, and incorporating investment dividends, you can increase your savings and achieve your financial goals.
Eligibility and Account Features
If you’re looking for a high-interest savings account in Singapore, DBS Multiplier Calculator may be the right choice for you. This account offers a competitive interest rate of up to 4.10% p.a. and comes with many benefits that cater to different life stages.
Who Can Apply
To be eligible for the DBS Multiplier Calculator account, you must be a Singapore citizen, a Permanent Resident, or a foreigner with a valid work permit. Tertiary s