This article is written in collaboration with DBS Bank. Views expressed in the article is the independent opinion of DollarsAndSense.sg.
There are many different kinds of savings accounts in Singapore. There are the basic ones that give you a meagre 0.05% p.a. interest rate and there also savings accounts that give you high interest rates, as long as you do more than just credit your salary into the account.
The DBS Multiplier Account is an example of a high interest rate savings account. This infographic highlights 9 reasons why you should start using a DBS Multiplier Account.
The DBS Multiplier Account
The DBS Multiplier Account offers higher interest rates of up to 3.8% p.a. with no minimum salary credit or credit card spend required. This makes it great for young adults that are just starting out in the workforce as well as couples that are looking to optimise their interest rates.
DBS has also recently revamped the DBS Multiplier Account, allowing you to multiply your money with higher interest rates of 1.55% – 3.8% p.a. on bigger savings up to S$100,000.
Here’s how the DBS Multiplier Account works:
The DBS Multiplier account grows with you as you start your financial planning and progress through various stages of your life. It rewards you for your transactions in categories such as investing, home loans and insurance.
For those looking for a savings account that rewards you with high interest rates for your financial planning efforts, the DBS Multiplier would fit the bill.
You can find out more about the DBS Multiplier here.