DBS changed its Mutiplier plan

[thenakedshades]

Any idea if there will be sms every month to say the amount of interest credited?

 

[swordsly]

Any idea if there will be sms every month to say the amount of interest credited?

None so far.
Didn't bother to check if there exists an option to enable it.

The bonus interest will be credited on the 7th every month regardless of weekdays or weekends, so far.

 

[yiwei]

A question. Does the interest rate apply to money inside Multiplier account only or is calculate across various account up to 50k.

Like for example having 40K in saving account and 10k in Multiplier. The Multiplier % only apply to the 10k or 50k in both account?

only for the money in multiplier account you get bonus interest

 

[Kitaro9202]

only for the money in multiplier account you get bonus interest

Oh man my multipler acc got no money only got money on ny saving acc

 

[ELKYme]

You will be given the extra interest even if the funds is in different accounts you have with DBS (section A, Q3).

https://www.dbs.com.sg/iwov-resourc...er-programme/DBS Multiplier Programme_FAQ.pdf

Try to have at least 3K in the multiplier a/c itself though, there’s a $5 fall below fee (Q13)

For those who have extra funds but cannot do salary credit, UOB1 is the next account.
Article on how heartland boy does it:
https://heartlandboy.com/get-highest-interest-rates-bank-savings-accounts/

Oh man my multipler acc got no money only got money on ny saving acc

 

[leoch037]

You will be given the extra interest even if the funds is in different accounts you have with DBS (section A, Q3).

https://www.dbs.com.sg/iwov-resourc...er-programme/DBS Multiplier Programme_FAQ.pdf

this is wrong, see Section B Q3

Q3)Do the higher interest rates apply to all of the balances in my Multiplier Account?
The higher interest rates are applicable to the S$ balance in your Multiplier Account, up to the first S$50,000.

Section A, Q3 refers to the transactions that will contribute to earn the higher interest rate

 

[Trazora]

You will be given the extra interest even if the funds is in different accounts you have with DBS (section A, Q3).

https://www.dbs.com.sg/iwov-resourc...er-programme/DBS Multiplier Programme_FAQ.pdf

Try to have at least 3K in the multiplier a/c itself though, there’s a $5 fall below fee (Q13)

For those who have extra funds but cannot do salary credit, UOB1 is the next account.
Article on how heartland boy does it:
https://heartlandboy.com/get-highest-interest-rates-bank-savings-accounts/

Section A Q3 is about transactions (salary crediting/investment/insurance/mortgage etc) that count to the yield a higher interest %, yes these transactions can be from any dbs/posb account. However, the interest is only awarded to balance in the DBS multiplier account.

 

[ELKYme]

Yes, that’s right.

Section A Q3 is about transactions (salary crediting/investment/insurance/mortgage etc) that count to the yield a higher interest %, yes these transactions can be from any dbs/posb account. However, the interest is only awarded to balance in the DBS multiplier account.

 

[compro_1975]

nothing for the day yet... guess gonna be 7th working day

 

[Squaredot]

nothing for the day yet... guess gonna be 7th working day

Check your acct tmr

 

[Buzy_bee]

Check your acct tmr

You are right. Interest is in.

 

[JetStorm]

You will be given the extra interest even if the funds is in different accounts you have with DBS (section A, Q3).

https://www.dbs.com.sg/iwov-resourc...er-programme/DBS Multiplier Programme_FAQ.pdf

Try to have at least 3K in the multiplier a/c itself though, there’s a $5 fall below fee (Q13)

For those who have extra funds but cannot do salary credit, UOB1 is the next account.
Article on how heartland boy does it:
https://heartlandboy.com/get-highest-interest-rates-bank-savings-accounts/

Interesting. Gonna try this method.

Sent from Samsung SM-G950F using GAGT

 

[JetStorm]

oops he sabo u

Huh saboh in what way?

Sent from Samsung SM-G950F using GAGT

 

[mdax23]

Be mindful when leaving the min balance of $3K in multiplier account.

Their interest calculation is diff from their other regular accounts.

 

[Trazora]

Huh saboh in what way?

Sent from Samsung SM-G950F using GAGT

Aiyo. See the posts after his post correcting his wrong suggestion.

 

[Trazora]

Be mindful when leaving the min balance of $3K in multiplier account.

Their interest calculation is diff from their other regular accounts.

Not sure what u mean. Why meet min balance only. If not enough money to maximise interest, might as well go for posb cashback bonus instead?

 

[JetStorm]

Aiyo. See the posts after his post correcting his wrong suggestion.

Oh i got it. Thx for pointing it out. Tho it doesnt affect me coz i intend to just close my other accounts and just keep my multiplier account.

Sent from Samsung SM-G950F using GAGT

 

[JetStorm]

Not sure what u mean. Why meet min balance only. If not enough money to maximise interest, might as well go for posb cashback bonus instead?

Dbs multiplier min 2 requirements. salary credit and card spending. Posb cash back is min 3 requirements.

Sent from Samsung SM-G950F using GAGT

 

[Kitaro9202]

This one quality right but dk y money did not credit in

Posted from PCWX using VKY-L29

 

[queerquirks]

i remember seeing it somewhere but cannot find it now, is the interest based on calendar month (Jan/Feb/Mar) or 30 days from a date?