DBS basic account no interest

[iadpotato]

I have this basic My Account with POSB, use for daily transactions, inside i maintain around $1000 only or so... never really check my transactions, until yesterday when i checked and noticed that i was never paid any interest at all since the account was opened since Feb 2020. Even at 0.05% base interest, usually will still have a few cents of interest, no? My other basic account monthly also got $0.03 interest...

Anyone has this problem as well? Check with my wife and her basic My Account also same, insde definitely got money, but no interest was paid at all...

Called the bank and they say will investigate..

 

[cearmouse]

They give interest every year...

 

[iadpotato]

They give interest every year...

LoL... seriously??? pathetic man.... machiam like CPF meh...

 

[peppermint7]

They give interest every year...

Wonder why they don't pay month by month. Lol

 

[bright_84]

Wonder why they don't pay month by month. Lol

 

[fadefade]

Wonder why they don't pay month by month. Lol

closed account and jump ship to maybank monthly interest credited

 

[peppermint7]

closed account and jump ship to maybank monthly interest credited

This my account is an foc account anyway i have $0 inside. If u are on DBS Vickers, it could also be used as a multi currency account to replace Autosave account.

But now knowing the interest only given yearly, better to keep the Autoave account cos Autosave interest is given monthly

 

[peppermint7]

Who stole my cheese?

 

[Trazora]

Who stole my cheese?

Lol but why do this for 0.05% interest and not the higher interest account.

 

[peppermint7]

Lol but why do this for 0.05% interest and not the higher interest account.

U mean why own this account?

This account is FOC. No minimum. No fall below fee. So I just open but nothing inside.

Multi currency account is a Must for those who want to trade with DBS Vickers.

There's 2 types of MCA that is acceptable to Vickers. One is Autosave. The other is My Account.

I have both and am thinking of closing my Autosave account and focus on My Account. But now knowing MA doesn't pay interest monthly, it is better to leave my Autosave account alone. As I realise I do get some interest even while waiting for them to deduct away my funds for trade.

Forgot to add. Some friends here only have My Account and do away with normal accounts as My Account has no fall below fee

 

[Stallone]

dbs/posb normal savings account pay interest at end of yr, not monthly

 

[peppermint7]

dbs/posb normal savings account pay interest at end of yr, not monthly

So far my normal savings pay monthly. Every last day of the month

 

[iadpotato]

mine too, my dbs savings+ account pay monthly... multiplier accopunt also monthly... kids CDA also monthly..

 

[ImRiHyun]

It depends on what kind of account you own. POSB passbook account is an example that pays interest yearly.