If you’re looking for a way to maximise your savings and earn high interest rates, the DBS Multiplier Programme in Singapore may be just what you need. This personal multi-currency deposit account rewards bonus interest when you transact with DBS/POSB. You can earn up to 4.1% p.a. with the Multiplier Account, making it one of the most attractive savings accounts in Singapore.
Understanding the DBS Multiplier Account is key to maximising your earnings. To qualify for bonus interest, you need to credit your income and transact in one or more of the following categories: credit card/PayLah! retail spend, home loan instalment, insurance, investments, adding up to $500 or more. The more categories you transact in, the higher your bonus interest rate will be. You can also earn bonus interest without an income, with 1.50% p.a. on the first $50,000 balance with any Credit Card/PayLah! Retail Spend, if you’re 29 years old and below.
Investment opportunities with DBS are also available with the Multiplier Account. You can invest in a range of products such as Unit Trusts, ETFs, and Robo-advisory portfolios. DBS also offers additional perks and services such as discounts on insurance premiums and preferential rates on loans. Managing your account efficiently is easy with digibank, DBS’s mobile banking app. You can access your account anytime, anywhere, and perform transactions with ease.
Understanding the DBS Multiplier Account
If you’re looking for a high-interest savings account in Singapore, the DBS Multiplier Account is an excellent option. With attractive interest rates and a range of features, it is a popular choice for many Singaporeans.
Eligibility and Account Opening
To be eligible for the DBS Multiplier Account, you must be a Singaporean citizen or a permanent resident. You must also be at least 18 years old and have a valid Singaporean address. To apply, simply visit the DBS website and follow the instructions.
Multiplier Account Features
The DBS Multiplier Account is a unique savings account that rewards you for banking with DBS. The more you save and transact with DBS, the more interest you earn. Some of the key features of the Multiplier Account include:
- No minimum balance requirement
- No monthly account fees
- One account for multiple currencies
- Access to DBS digital banking services
Interest Rates and Balance Cap
The interest rates for the DBS Multiplier Account are among the most attractive in Singapore. Your interest is calculated based on the total amount of eligible transactions you make each month. The interest rate ranges from 0.05% to 3.8% per annum, depending on the total amount of eligible transactions you make.
The balance cap for the DBS Multiplier Account is $100,000. This means that you can earn interest on up to $100,000 of your savings. If you have more than $100,000 in your account, you will not earn interest on the excess amount.
In conclusion, the DBS Multiplier Account is an excellent option for anyone looking for a high-interest savings account in Singapore. With attractive interest rates, a range of features, and no monthly fees, it’s a great way to save and earn money at the same time.
Maximising Your Earnings
If you’re looking to maximise your savings, the DBS Multiplier programme is a great option to consider. By understanding the various income and transaction categories that qualify for bonus interest, you can optimise your credit card spend and earn more with your Multiplier account.
Income and Transaction Categories
The DBS Multiplier programme recognises a wide range of income types, including your salary credit, dividends, and rental income. By crediting your income into your DBS/POSB account, you can earn bonus interest on your Multiplier account. Additionally, the programme also recognises various transaction categories, such as payments for insurance premiums, investments, and home loans.
Bonus Interest Criteria
To qualify for bonus interest, you need to meet at least one of the income categories and one of the transaction categories. Depending on the number of categories you fulfil, you can earn bonus interest ranging from 0.3% to 1.8%. If you fulfil all five categories, you can earn a bonus interest rate of up to 1.8%.
Optimising Credit Card Spend
One way to optimise your credit card spend is to use a DBS credit card. By doing so, you can earn cashback and rewards points that can be used to offset your credit card bills or redeemed for other benefits. Additionally, you can also use your credit card to make payments for transactions that qualify for bonus interest, such as insurance premiums and investments.
By understanding the various income and transaction categories that qualify for bonus interest, you can optimise your credit card spend and earn more with your DBS Multiplier account. With the potential to earn up to 4.1% p.a. on your savings, the DBS Multiplier programme is an attractive option for those looking to maximise their earnings.
Investment Opportunities with DBS
Are you looking for investment opportunities in Singapore? Look no further than DBS. DBS offers a range of investment options to suit your needs and preferences. Here are some of the investment opportunities available with DBS:
DBS Invest-Saver
DBS Invest-Saver is a regular investment plan that allows you to invest in Exchange Traded Funds (ETFs) or Unit Trusts with as little as $100 a month. You can choose from a range of investment options, including the Nikko AM Singapore STI ETF, ABF Singapore Bond Index Fund, and the BlackRock Global Funds – World Technology Fund. With DBS Invest-Saver, you can enjoy low fees and regular investing to help you achieve your financial goals.
DigiPortfolio
DigiPortfolio is a digital investment service offered by DBS. It is a hassle-free way to invest in a diversified portfolio of ETFs or Unit Trusts. You can choose from three different portfolios, each with a different risk level and investme