DBS savings promo 4% interest

DBS Bank

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Hi DBS, the only option for my Paylah in my ibanking at the menu drop down is top up paylah.

there is no option to send to my account.

Please advise.


Hi lasnoblur,

We are sorry to hear about what you have encountered with your PayLah! app.

You might want to consider closing the app completely, and updating it as there was a recent app update in the App Store.

If the issue continues to persist, please do not hesitate to call our 24-hour hotline at 1800 111 1111 or +65 6327 2265 (overseas) for immediate assistance regarding your PayLah! app. Our customer service officer will help you to check on your account and advise you the next steps:)

Have a great day ahead!
 

Purplestars

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Hi lasnoblur,

We are sorry to hear about what you have encountered with your PayLah! app.

You might want to consider closing the app completely, and updating it as there was a recent app update in the App Store.

If the issue continues to persist, please do not hesitate to call our 24-hour hotline at 1800 111 1111 or +65 6327 2265 (overseas) for immediate assistance regarding your PayLah! app. Our customer service officer will help you to check on your account and advise you the next steps:)

Have a great day ahead!

Hi DBS

May I know at which day of the month will the 2% interest be credited as well as the 2% in Paylah?
 

tiertime

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Hi lasnoblur,

We are sorry to hear about what you have encountered with your PayLah! app.

You might want to consider closing the app completely, and updating it as there was a recent app update in the App Store.

If the issue continues to persist, please do not hesitate to call our 24-hour hotline at 1800 111 1111 or +65 6327 2265 (overseas) for immediate assistance regarding your PayLah! app. Our customer service officer will help you to check on your account and advise you the next steps:)

Have a great day ahead!

Hey DBS it seems you are practising age discrimination :mad:
 

AMD_FREAK

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Rather confused by this product. Gurus, what is the best way to get the max out of this? Assuming i'm putting in 3.5k of salary every month?

Am I reaping guaranteed 4% if I :

1. credit my salary of 3.5k in my DBS/POSB account (actually is there any minimum salary sum?)
2. Auto transfer 3k to SAYE account every month
3. Make 5 transactions on credit card (any minimum sum? And does online spending considered?)

If this is all it takes, I think this is a fantastic 2-yr 'endowment plan'! After putting the numbers in a compounding calculator, a 3k monthly deposit into SAYE account can get me approx $3k of interest at the end of 2 years.

Moreover I don't need to scratch head to spend $500 a month like BOC smart saver, UOB one etc..
 
Last edited:

kevinkoh1992

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Rather confused by this product. Gurus, what is the best way to get the max out of this? Assuming i'm putting in 3.5k of salary every month?

Am I reaping guaranteed 4% if I :

1. credit my salary of 3.5k in my DBS/POSB account (actually is there any minimum salary sum?)
2. Auto transfer 3k to SAYE account every month
3. Make 5 transactions on credit card (any minimum sum? And does online spending considered?)

If this is all it takes, I think this is a fantastic 2-yr 'endowment plan'! After putting the numbers in a compounding calculator, a 3k monthly deposit into SAYE account can get me approx $3k of interest at the end of 2 years.

Moreover I don't need to scratch head to spend $500 a month like BOC smart saver, UOB one etc..
Yes that it right, but you have to be below 30 years old and this product only lasts 2 years

Sent from Google PIXEL using GAGT
 

linuskltan

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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?
 
Last edited:

oceanicmanta

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I think better ask POSB these questions.

Many of us here are already bitter having been excluded from this targeted promo.
 

lsthekiddo

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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?


An easier way would be changing from joint to personal account, but would it be eligible for the 4%?
 

Trazora

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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?

You need to contact DBS to enquire how they will deal with your unique case.
 

bjornng

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hi all, is transitlink/ezlink top up with my debit/credit card considered as a qualifying transaction?
 

nefariel

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hi all, is transitlink/ezlink top up with my debit/credit card considered as a qualifying transaction?

i dont see it in the exclusion list. should be.

but usually such transactions are not eligible for cashback so better play it safe. u can test and let us know in 3 months time
 
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