What type of account is DBS multiplier?

personal deposit account
The DBS Multiplier Account is a personal deposit account that rewards you higher interest when you when you transact with DBS/POSB.

Is DBS multiplier a current or savings account?

DBS Multiplier Is a good savings deposit account which offers 0.05% base interest rate. Bonus interest rate increases according to your DBS credit card spend, home loan, investments, or insurance, capped at a maximum of 3.80%. Rates updated to reflect 2020 new changes. Base Interest Rate p.a.

Which is the best multiplier account?

Best savings accounts for salaried workers

Savings account	Interest rate	Minimum balance
DBS Multiplier Account	0.4%	No min. balance until age 29 (subsequently S$3,000)
UOB One Account	0.50%	S$1,000
Standard Chartered Bonus$aver	0.31%	S$3,000
OCBC 360 Account	0.45%	S$3,000

What is the minimum balance for DBS multiplier account?

Eligibility & Fees No monthly account fees. If this is your first account with DBS/POSB, open online now and there will be no minimum average daily balance required. Service charge of S$5 if average daily balance falls below S$3,000 (based on total SGD equivalent of SGD & foreign currency balances).

How much does it cost to maintain a DBS multiplier account?

S$5.00 per month
DBS Account

Account Type	Minimum Average Daily Balance (MADB)	Service Charge
DBS Multiplier Account*	S$3,000	S$5.00 per month
DBS eMulti-Currency Autosave Account* DBS Multi-Currency/eMulti-Currency Autosave Plus Account* DBS eAutosave Account DBS eAutosave Plus Account DBS Current Account	S$3,000	S$7.50 per month

How do I deposit money into a DBS multiplier account?

Deposit Cash

1. Insert your ATM/Debit/Credit Card or Passbook.
2. Key in your 6-Digit Card PIN.
3. Select Cash Deposit.
4. Select your preferred Language.
5. For deposits into your Personal Account: Select Deposit to Own Account.
6. For deposits to a 3rd Party Account: Select Deposit to Other Account.

Where can I put my money to earn the most interest?

Reap a higher return by stashing your cash in a higher interest savings account, stocks and shares ISA or a credit union….Summary: 4 ways to earn more interest

• Look for high-interest savings accounts.
• Switch to a current account with a higher interest rate.
• Consider a stocks and shares ISA.
• Join a credit union.

Where can I put my money to earn the most interest Singapore?

7 Best Savings Accounts in Singapore with the Highest Interest…

• Best savings accounts in Singapore with the highest bonus interest rates.
• CIMB FastSaver savings account interest rates.
• DBS Multiplier savings account interest rates.
• UOB One savings account interest rates.
• OCBC 360 savings account interest rates.

How do you maximize a DBS multiplier account?

Simply clock up retail spend using PayLah! of $500 in a month, and for customers above the age of 29, fulfil the Income criteria (Salary Credit/Dividends) in order to earn bonus interest of up to 0.5% on the first $10,000 in your DBS Multiplier Account.

How does DBS multiplier work?

Here’s how it works: Simply clock up retail spend using PayLah! of $500 in a month, and for customers above the age of 29, fulfil the Income criteria (Salary Credit/Dividends) in order to earn bonus interest of up to 0.5% on the first $10,000 in your DBS Multiplier Account.

Where can I make 5% on my money?

Here are the best 5% interest savings accounts you can open today:

• Current: 4% up to $6,000.
• Aspiration: 3-5% up to $10,000.
• NetSpend: 5% up to $1,000.
• Digital Federal Credit Union: 6.17% up to $1,000.
• Blue Federal Credit Union: 5% up to $1,000.
• Mango Money: 6% up to $2,500.
• Landmark Credit Union: 7.50% up to $500.

Which bank gives 7% interest on savings account?

Equitas Small Finance Bank is offering interest rates up to 7 percent on savings accounts. The average monthly balance requirement is Rs 2,500 to Rs 10,000. DCB Bank offers interest rates of up to 6.75 percent on savings accounts. Among private banks, this bank offers the best interest rates.

Which DBS account is best?

Best savings accounts in Singapore with the highest interest rates

Savings account	Realistic interest rates	Best for
DBS Multiplier	0.4% to 1%	Salaried workers
UOB One	0.25% to 0.55%	No salary credit
OCBC 360	0.3% to 0.6%	Growing your savings
Maybank Save Up	0.25% to 2.75%	Home, education, car loan users

Can I have 2 DBS multiplier accounts?

Step 1: Both Open Individual DBS Multiplier Accounts However, DBS Multiplier accounts are only available as a personal account. This means that DBS Multiplier accounts cannot be joint accounts. If there is more than one account holder to the DBS Multiplier account, you will not enjoy the higher interest rates accorded.

How much savings should I have at 60?

A general rule for retirement savings by age 60 is to aim to have about seven to eight times your current salary saved up. This means someone earning $75,000 a year would ideally have between $525,000 to $600,000 in retirement savings at that age. If you aren’t there yet, you’re not alone.

How do I get a 10% return?

How Do I Earn a 10% Rate of Return on Investment?

1. Invest in Stocks for the Long-Term.
2. Invest in Stocks for the Short-Term.
3. Real Estate.
4. Investing in Fine Art.
5. Starting Your Own Business (Or Investing in Small Ones)
6. Investing in Wine.
7. Peer-to-Peer Lending.
8. Invest in REITs.

How can I get 5% interest on my money?

Here are the best 5% interest savings accounts you can open today:

1. Current: 4% up to $6,000.
2. Aspiration: 3-5% up to $10,000.
3. NetSpend: 5% up to $1,000.
4. Digital Federal Credit Union: 6.17% up to $1,000.
5. Blue Federal Credit Union: 5% up to $1,000.
6. Mango Money: 6% up to $2,500.
7. Landmark Credit Union: 7.50% up to $500.

How do I retire with no money?

Seek Employers Who Offer Pension If you’re wondering how to retire at 50 with no money, find a position with a company that offers a pension. With a little extra thought and planning, working for 10 or 15 years at a company with a pension could make a positive impact on your retirement savings.

What is DBS multiplier account?

Multi-currency convenience. The DBS Multiplier Account is a multi-currency account which allows you to access up to 12 foreign currencies and the Singapore dollar conveniently and transact at your preferred rates. No foreign exchange fees.

Is the DBS multiplier pandemic-proof savings account yet?

DBS Multiplier Is The Most Pandemic-proof Savings Account Yet. Here’s Why. COVID-19 — the battle of our generation. As we fight a pandemic, a recession, and an environment of slashed interest rates, here’s how you can still multiply your savings.

How can I boost my interest rates on my DBS multiplier?

DBS Multiplier users can continue to tap on the different categories (Income, Credit Card Spend, Investment, Insurance, and Home Loan Instalments) to boost interest rates. This means spending on your credit card (no minimum spend), making regular investments, purchasing an insurance policy and financing your home loan.

Is DBS multiplier better than UOB one?

DBS Multiplier vs UOB One account — which is better? The DBS Multiplier account’s major rival is the UOB One account. Both savings accounts’ interest rates are comparably bad, so instead let’s look at whether the T&Cs are a good fit for you.