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The latest on Singapore Savings Account Rates:

Dec 17, 2014

2.08% DBS Multiplier Programme

2.08% DBS Multiplier Programme

We present Singapore 2.08% DBS Multiplier Programme savings rates to help you make your money work harder for you at Singapore Savings Account Rates in 2014.

Singapore 2.08% DBS Multiplier Programme savings account rates for 2014 are presented for personal information. You should re-confirm bank rates before you invest your money based on these rates.

2.08% DBS Multiplier Programme Rates are subject to change without prior notice at discretion of the bank entity or finance company in 2014 and beyond. You should assess the suitability of these financial products based on your personal financial investment objectives.

2.08% DBS Multiplier Programme Details:

If your regular banking with us adds up to S$7,500 per month, you’re eligible to earn higher interest.
The higher interest earned will be paid on the first S$50,000 in your Multiplier Account
No lock-in period
Total monthly banking with DBS or POSB Interest Rate (p.a.)1

Less than S$7,500 0.0005

S$7,500 to less than S$10,000 1.08%

S$10,000 to less than S$12,500 0.0128

S$12,500 to less than S$15,000 0.0148

S$15,000 to less than S$20,000 0.0168

S$20,000 and above 0.0208

1Remaining balance over and above the first S$50,000 will be accorded the prevailing base interest rate for that month. Higher interest will be credited in 2 parts:

(i) base interest at our prevailing base interest rate calculated on daily balances will be credited at month end, and

(ii) the remaining preferential interest, calculated as the nett of the higher interest rate and the prevailing base interest rate, based on the sum of your eligible cash flows with us, by the 7th working day of the following month.

Effective from 1 Oct 2014, the interest rate of this tier is revised from 0.98% p.a. to 1.08% p.a.

What are the fees and charges under the DBS Multiplier Account?

(i) Fall below fee of S$5 will be charged if average daily balance falls below S$3,000 (based on total SGD equivalent of SGD & foreign currency balances). Please note though, that fall below fee is not applicable in the month of account opening.

(i) No monthly account fee

(ii) Early account closure fee of S$30 will be charged if account is closed within 6 months.

Keep reading Singapore Savings Account Rates, for new information on financial savings accounts in Singapore.

The Team

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