DBS changed its Mutiplier plan

foozgarden

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I think It's calculated daily, rounded to the 2 decimal (or rounded up?). For my case, I managed to hit the maximum band 3.5% (due to bonus, some dividend, some big spending, and stock purchases)

I'm getting 146.63 which is calculated as such:
3.5% - 0.05% (Base DBS interest) = 3.45%
50000 * 0.0345 * (1/365) = 4.726 -> rounded to 4.73
4.73 * 31 = 146.63

yes, 146.63 is the max possible.
i got this amt too.
 

sharinganez

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just realise that there'll be charges whenever u deposit/withdraw foreign currency into multiplier account.
Rate varies depends on which currency u r using, eg 1.5% for USD in & out

So bad..
 

Jazzbie

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just realise that there'll be charges whenever u deposit/withdraw foreign currency into multiplier account.
Rate varies depends on which currency u r using, eg 1.5% for USD in & out

So bad..

Will there also be charges for depositing USD cheques via quick drop off?
 

Charlie_Zhan

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Will there also be charges for depositing USD cheques via quick drop off?
no charges if depositing local USD clearing cheques..

the charges mentioned by sharinganez is for transactions involving deposit and withdrawal in physical foreign currency cash.

Sent from International Space Station using GAGT
 

jnashville

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quick question.

just placed 50k in early jan in the dbs multiplier account and i saw the interest came in on 7th feb.

Can i transfer out the interest and leave the 50k in the account? This will not affect anything right? I will still get the full interest for the month of February ya?
 

Trazora

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quick question.

just placed 50k in early jan in the dbs multiplier account and i saw the interest came in on 7th feb.

Can i transfer out the interest and leave the 50k in the account? This will not affect anything right? I will still get the full interest for the month of February ya?

Yes. Should transfer out the amounts in excess to $50k.
 

schoool

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Hi I would like to ask: just solely salary crediting of 2000plus will give 0.05% or must be salary credit + 1 more transaction? I used the calculator on the website it states that salary alone gives 0.05 but in the table below it states salary + 1 transaction. Thanks in advance
 

savinmax

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Hi I would like to ask: just solely salary crediting of 2000plus will give 0.05% or must be salary credit + 1 more transaction? I used the calculator on the website it states that salary alone gives 0.05 but in the table below it states salary + 1 transaction. Thanks in advance

If you only have salary of >2k, u will get the miserable 0.05%.
If you do one more transaction ( eg cc usage - any amount ), you will get at last 1.55%, so just apply and use one credit card.

see below, refer to chiokcc link

DBS IBanking put this under "Bank & Earn Summary" liao

multiplier_interest_rates.jpg
 

schoool

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If you only have salary of >2k, u will get the miserable 0.05%.
If you do one more transaction ( eg cc usage - any amount ), you will get at last 1.55%, so just apply and use one credit card.

see below, refer to chiokcc link

Thank you for the info. I just started this account and just had my credit card.

I started this account in mid Jan 18 and my salary came in afterward. It’s reflected in Bank and Earn summary for Jan..I didn’t receive my base 0.05% interest on last day of Jan. am I entitled for that base interest? It just only salary credit though. With 2k plus in the multiplier account.

Thanks
 

Trazora

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Thank you for the info. I just started this account and just had my credit card.

I started this account in mid Jan 18 and my salary came in afterward. It’s reflected in Bank and Earn summary for Jan..I didn’t receive my base 0.05% interest on last day of Jan. am I entitled for that base interest? It just only salary credit though. With 2k plus in the multiplier account.

Thanks

You should have 0.05% base interest even without salary crediting. With 2000 plus balance in the DBS multiplier account starting from mid Jan the base interest is a few cents.
 
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Jazzbie

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Thank you for the info. I just started this account and just had my credit card.

I started this account in mid Jan 18 and my salary came in afterward. It’s reflected in Bank and Earn summary for Jan..I didn’t receive my base 0.05% interest on last day of Jan. am I entitled for that base interest? It just only salary credit though. With 2k plus in the multiplier account.

Thanks

As long as there is something credited at the end of the month it should be correct. Only an issue if no interest at all. Not sure if that is the case or you can't account for 0.05% which you need to base on daily average balance etc.
 

wilflare

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seems quite insane to hit the 2.5 and 3.5 interest scale :X

did anyone get the $20 for opening the account?
I opened in Dec but got nothing yet :/
 

foozgarden

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how long does it take to get reflected in teh bank and earn summary for investments?
using DBSV, my stocks already in CDP.
 

bjornng

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hi guys, quick question regarding the investment category for the multiplier.

assuming im going for POSB Invest Saver RSP, does the monthly deduction have to be from my multiplier account or any of my existing posb savings account?
 

Niaoson

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hi guys, quick question regarding the investment category for the multiplier.

assuming im going for POSB Invest Saver RSP, does the monthly deduction have to be from my multiplier account or any of my existing posb savings account?

Can be from any account.
 

5408854088

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for those who open account in December 2017, have you received your cash gift of $20?
 
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