DBS increase rates of interest once more for Multiplier financial savings account

SINGAPORE: DBS raised its rates of interest once more for its flagship Multiplier financial savings account on Tuesday (Nov 1), growing the utmost rate of interest to 4.1 per cent per 12 months from 3.5 per cent. 

This comes after OCBC elevated its rates of interest for its 360 financial savings account to 4.65 per cent per 12 months on the shopper’s first S$100,000 once they credit score their wage, save, and spend with the financial institution. 

The DBS Multiplier scheme presents prospects tiered rates of interest of as much as 4.1 per cent on the primary S$100,000 of their account. The rates of interest are tiered based on wage, spending and transactions in classes.

To realize the utmost 4.1 per cent, prospects have to credit score their wage, dividends or SGFinDex to the account. In addition they have to spend S$30,000 or extra in any three classes. The classes are bank card spending, residence mortgage instalments, insurance coverage and investments.

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