TLDR: BYOB 4% p.a. bonus interest and sign-up cash gift requires the monthly savings debit cum salary credit account to be a personal (not joint) account. Joint account still get to earn the SAYE 2% p.a. interest.
Appreciate any advice I can get to salvage my current situation...
I signed up for the BYOB promo prior to 19 Jul (the cash gift is $100 instead of the current $88), opened my SAYE account on 1 Aug, monthly savings debit and salary credit is a Joint savings account opened since young.
I didn't receive my $100 cash gift (which was supposed to be credited within 60 days of account opening i.e. by 30 Sep). I contacted DBS and after numerous secured mail correspondence, was told that the BYOB required the savings account to 'be held in your own name i.e. personal' and not a joint account.(just curious, how many of yall knew that personal account meant non-joint, rather than non-business/corporate account? Cuz the latter was what I had in mind)
Note that the SAYE 2% p.a. interest does not exclude joint account accounts as the monthly savings debit cum salary credit account. However, the BYOB additional 2% p.a. bonus interest requires specifically a personal account.
I actually have a personal savings account. But if I switch the linked account from joint to personal:
1. Will it work to salvage the situation and continue/begin to earn 4% p.a.?
2. In this case, does the BYOB additional 24-months 2% p.a. interest start counting from 1 Aug for 24 months (but only earn 4% for the remaining months) or 24 months from the new (corrected) salary crediting month?
3. Will my monthly savings amount accumulated til now, be also eligible to earn the 4% p.a. from the new (corrected) salary crediting month?