DBS / POSB Multiplier Account: Earn Higher Interest As You Make Better Financial Decisions

This article is written in collaboration with DBS. All views expressed in this article are the independent opinion of DollarsAndSense.sg based on our research. DollarsAndSense.sg is not liable for any financial losses that may arise from any transactions and readers are encouraged to do their own due diligence. You can view our full editorial policy here.

Whether you are a student, an employee or gig worker, or a retiree, you always want to earn the highest interest rate possible for your savings.

Beyond just another high-yield savings account, the DBS/POSB Multiplier Account is designed to be an all-inclusive savings account for people from all walks of life. They do this by constantly adjusting both its interest rates and people’s lifestyles – so no one gets left behind.

Here’s how it works:

With the DBS / POSB Multiplier Account, your transactions will be sorted into 5 different categories – Income, retail spend, home loan, insurance and investments.

As long as you accumulate $500 in eligible transactions, which can come from all 5 categories, you can earn up to 4.1% bonus interest.

No Minimum Spend Required

With the expanded income recognition scheme, transactions through GIRO/FAST/PayNow and via CPF LIFE / SRS, can also count towards your income credit requirement, making it easier to fulfil for students, freelancers and retirees.

Furthermore, there is no minimum expenditure required for any of the other categories, meaning that you can still be rewarded while being financially prudent, and transacting through DBS / POSB.

With interest rates up to three times higher and a lower eligible transaction requirement, it is now easier for DBS and POSB savers from all walks of life to make your savings work harder for you.

The post DBS / POSB Multiplier Account: Earn Higher Interest As You Make Better Financial Decisions appeared first on DollarsAndSense.sg.