Opened DBS Multiplier Account
The HR at my new job told me about the account and that people in the company were using it to credit their salary, actually I knew about the account because one or two years back I checked it out, I vaguely remember I didn't qualify or it sucked, so yesterday I went to DBS website to see what the hype is about and found that they revised the account, now it actually looks very attractive. I also found the following in their FAQ:
So it looks like previously I didn't sign up because the interest rate was shit, have to transact $7500 a month to get 1.08%, otherwise just 0.05%.
Based on the new structure I can get 1.9% for salary and credit card spending, or 2.2% if I buy stock via DBS Vickers, CDP dividend credit also count, wah not bad leh.
Like that no need to think already, yesterday I went to ibanking and opened the account, online open is immediate, damn fast, then I also transferred some spare cash inside, nowadays so convenient open bank account at fingertip.
By the way there is one catch, average daily balance have to maintain at least $3000 to avoid the $5 fall-below fee, but I guess if you decide to open this account you surely put more than that since the interest rate is so attractive. Anyway the fall-below fee is waived for everyone in the month of opening the account, so have some grace period.
So it looks like previously I didn't sign up because the interest rate was shit, have to transact $7500 a month to get 1.08%, otherwise just 0.05%.
Based on the new structure I can get 1.9% for salary and credit card spending, or 2.2% if I buy stock via DBS Vickers, CDP dividend credit also count, wah not bad leh.
Like that no need to think already, yesterday I went to ibanking and opened the account, online open is immediate, damn fast, then I also transferred some spare cash inside, nowadays so convenient open bank account at fingertip.
By the way there is one catch, average daily balance have to maintain at least $3000 to avoid the $5 fall-below fee, but I guess if you decide to open this account you surely put more than that since the interest rate is so attractive. Anyway the fall-below fee is waived for everyone in the month of opening the account, so have some grace period.
Comments
https://www.uob.com.sg/personal/save/chequeing/one-account.page
The UOB One, OCBC 360 and Maybank SaveUp are more flexible, I find the UOB One is more for people who can put in more savings, for the Maybank is very flexible can choose from 9 products and services. OCBC 360 is less flexible because need to credit salary to really take advantage of the account.