DBS Multiplier: Revision of interest rates for Income + transactions in 1 category w.e.f. 1 May 2020

DBS Multiplier Account changes w.e.f. 1 May 2020

www.dbs.com.sg/personal

DBS Multiplier Account
Changes effective 1 May 2020

Dear Customer,

Hope this note finds you well.

We are adjusting the interest rate for Multiplier in the “Income + transactions in 1 category” starting 1 May 2020. All other tiers, categories and qualifying criteria remain unchanged.

What does “Income + transactions in 1 category” mean?

It means, you are salary / dividend crediting and doing one of these with us:

Spending on your credit card or
Bought an eligible insurance policy or
Bought an eligible investment or
Have a home loan

For those affected by the adjustment, we will be sharing how you can earn higher bonus interest on your savings in the next few weeks.

See below the changes to “Income + transactions in 1 category”:

	Income + transactions in 1 category (Capped at first S$25,000 in your Multiplier Account)
Total eligible transactions per month	Before 1 May 2020	From 1 May 2020
<S$2,000	0.05% (p.a.)	0.05% (p.a.)
≥S$2,000 to <S$2,500	1.55% (p.a.)	1.40% (p.a.)
≥S$2,500 to <S$5,000	1.85% (p.a.)	1.60% (p.a.)
≥S$5,000 to <S$15,000	1.90% (p.a.)	1.80% (p.a.)
≥S$15,000 to <S$30,000	2.00% (p.a.)	1.90% (p.a.)
≥S$30,000	2.08% (p.a.)	2.00% (p.a.)

All other qualifying conditions remain unchanged. Please refer to Terms & Conditions Governing Accounts for details.

Multiplier remains a great way to earn higher interest on your savings, at up to 3.8% p.a. Experts say you should put aside 3-6 months’ emergency funds, so unexpected events don’t disrupt your daily life. Your Multiplier Account balances certainly counts towards that.

During uncertain times, it is important to have your finances in order, and we’re here to help you get better at money. Check our financial health kit to get started.

Alternatively, drop us your details here and we will get back to you.

Deposit Insurance Scheme:
Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.

www.dbs.com.sg