Owning UOB One + DBS Multipler Accounts?

[kurt111494]

Hi guys,

After looking across hurdle savings accounts, I'm wondering if it's possible to maximise savings further by owning more than one hurdle savings account?

UOB One
- $500 monthly spend on UOB One Credit Card
- Any 3 GIRO transactions (income tax, DBS SAFRA Credit Card fee, UOB One Credit Card fee, Prudential insurance, Telco bills)
- Minimum $50k deposit in account

This results in:
- ~$1200 annual interest
- $200 annual cashback

DBS Multiplier
- Salary credit of $2500 - $3000
- Any expenditure amount on DBS SAFRA Credit Card (no minimum amt)
- Any expenditure amount on DBS Insurance/Investment (no minimum amt)
- Minimum $50k deposit in account

This results in:
- ~$1000 annual interest? (~2% p.a.?)

I was just thinking through these and wondering if its possible to fulfill them. Anyone has any advice or suggestions as to whether this can work?

Thanks!

 

[TabascoSauce]

if u can hit the $500 cc spend consistently then y not?

for me it dosnt work bcos i cant hit $500 spend consistently. so im going for Citibank Maxigain + DBS MA.

Maxigain got higher cap too.

 

[naro]

Yes, it makes sense but it depends on your monthly credit card spending pattern as well.

 

[kurt111494]

Yes, it makes sense but it depends on your monthly credit card spending pattern as well.

Hi sir, what do you mean? Able to elaborate?

 

[Trazora]

Can also consider Maybank Saveup instead of the 2 you stated.

 

[revhappy]

Hi guys,

After looking across hurdle savings accounts, I'm wondering if it's possible to maximise savings further by owning more than one hurdle savings account?

UOB One
- $500 monthly spend on UOB One Credit Card
- Any 3 GIRO transactions (income tax, DBS SAFRA Credit Card fee, UOB One Credit Card fee, Prudential insurance, Telco bills)
- Minimum $50k deposit in account

This results in:
- ~$1200 annual interest
- $200 annual cashback

DBS Multiplier
- Salary credit of $2500 - $3000
- Any expenditure amount on DBS SAFRA Credit Card (no minimum amt)
- Any expenditure amount on DBS Insurance/Investment (no minimum amt)
- Minimum $50k deposit in account

This results in:
- ~$1000 annual interest? (~2% p.a.?)

I was just thinking through these and wondering if its possible to fulfill them. Anyone has any advice or suggestions as to whether this can work?

Thanks!

For UOB giro requirement, are you sure whether credit card bill payment is considered? On the website it says billing organisation with the bank.

Sent from Xiaomi REDMI NOTE 4 using GAGT

 

[kurt111494]

For UOB giro requirement, are you sure whether credit card bill payment is considered? On the website it says billing organisation with the bank.

Sent from Xiaomi REDMI NOTE 4 using GAGT

Hmmm, when I applied it was still considered. Not sure about now.

 

[Trazora]

For UOB giro requirement, are you sure whether credit card bill payment is considered? On the website it says billing organisation with the bank.

Sent from Xiaomi REDMI NOTE 4 using GAGT

Considered.

 

[revhappy]

Considered.

Thanks. I guess need to setup giro for credit card payment as well? Like pay full balance on particular date of the month?

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[shpesft]

It’s possible. I’m using UOB One account with BOC Smart Saver to max account interest.

 

[Trazora]

Thanks. I guess need to setup giro for credit card payment as well? Like pay full balance on particular date of the month?

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Yes need to apply for GIRO. Can choose pay min sum or full sum; cannot specify date, will be based on payment due date.

 

[revhappy]

Yes need to apply for GIRO. Can choose pay min sum or full sum; cannot specify date, will be based on payment due date.

I see thanks.

Sent from Xiaomi REDMI NOTE 4 using GAGT

 

[kurt111494]

It’s possible. I’m using UOB One account with BOC Smart Saver to max account interest.

Thanks for sharing. I can't keep up with the expenditure and salary required for BOC though

 

[shpesft]

Alternative can get UOB One with Maybank SaveUp as well

Thanks for sharing. I can't keep up with the expenditure and salary required for BOC though

 

[kurt111494]

Alternative can get UOB One with Maybank SaveUp as well

Maybank one doesn't seem to offer as much interest leh...and the requirements harder to hit

I usually don't spend a lot too, so it seems that DBS is better...

 

[SBC]

My combo is UOB1, OCBC 360 & POSB Bonus CashBack.

About $130 Cashback every month.

 

[mummy1234]

Hi guys,

After looking across hurdle savings accounts, I'm wondering if it's possible to maximise savings further by owning more than one hurdle savings account?

UOB One
- $500 monthly spend on UOB One Credit Card
- Any 3 GIRO transactions (income tax, DBS SAFRA Credit Card fee, UOB One Credit Card fee, Prudential insurance, Telco bills)
- Minimum $50k deposit in account

This results in:
- ~$1200 annual interest
- $200 annual cashback

DBS Multiplier
- Salary credit of $2500 - $3000
- Any expenditure amount on DBS SAFRA Credit Card (no minimum amt)
- Any expenditure amount on DBS Insurance/Investment (no minimum amt)
- Minimum $50k deposit in account

This results in:
- ~$1000 annual interest? (~2% p.a.?)

I was just thinking through these and wondering if its possible to fulfill them. Anyone has any advice or suggestions as to whether this can work?

Thanks!

Definitely can have multiple accounts. I maxed out my OCBC360 and UOBone and gonna start DBS Multiplier. Have more than one salary source cause locum GP, that is the good thing.

 

[Trazora]

Maybank one doesn't seem to offer as much interest leh...and the requirements harder to hit

I usually don't spend a lot too, so it seems that DBS is better...

Maybank saveup 3%, higher than 2.43% or 2%.

 

[ixoral]

UOB1 & DBS MA can be a great combi to have, given UOB1 can fulfil at least 2 cat without salary credit. but for a decent no frills savings a/c with out salary requirement, i would say go for citi maxigain.

 

[zumaba]

why not HSBC Advance saving, only needs $500 spending for 2.5% of max $100k already.

Maybank saveup 3%, higher than 2.43% or 2%.

UOB1 & DBS MA can be a great combi to have, given UOB1 can fulfil at least 2 cat without salary credit. but for a decent no frills savings a/c with out salary requirement, i would say go for citi maxigain.