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Multiplier is simpler than ever for all!
Easier to get bonus interest, More income types recognised, No min spend always.
Multiplier is simpler than ever for all!
At a Glance
Everybody’s welcome
Whether you’re a student, NSF, gig economy worker, salaried employee, or even a retiree, more types of income are recognised so anyone can multiply.
Easy to reach targets
PayLah! and Credit Card spend are now one category so it’s easier for you to unlock higher interest on your savings.
Streamlined tiers
Our starting bonus interest rate has more than tripled and we’ve also increased balance caps so you can simply earn more bonus interest.
Why DBS Multiplier as your Savings Account
Our mission to help you save more has never been more important. And wherever you are on your financial journey, you should be able to grow your money without complicated hoops to hop through.
That's why we've made it easier for everyone—even students, NSFs, first-jobbers, gig economy workers, and retirees—to earn more on their savings, with Multiplier.
How it works
Earn up to 4.1% p.a. with Multiplier Account when you do the following:
Step 1:
Credit income.
Step 2:
Transact in 1 or more categories.
You can still earn bonus interest without an income!
Earn 1.50% p.a. on first S$50,000 balance with any Credit Card/ PayLah! Retail Spend. This applies to you if you’re 29 years old and below.
Example 1: First Jobber/ Working Adult
Meet Jack. He’s a first jobber who credits monthly salary of S$3,500 to his DBS/POSB savings account and transacts in two categories.
Jack has a total eligible transaction of S$3,800 and gets a bonus interest of:
- 2.10% p.a. for the first S$100,000 and
- Base interest rate for balance above S$100,000
To unlock higher interest rates, Jack can transact in one more category. By purchasing an insurance, Jack transacts in 3 categories and his interest rate increases from 2.10% p.a. to 2.40% p.a.
Example 2: Full-time National Servicemen (NSF)
William receives S$755 monthly allowance credited to his DBS/POSB savings account and has DBS PayLah! Retail Spend of S$100.
With a total eligible transaction of S$855, he qualifies for interest of
- 1.80% p.a. for the first S$50,000 and
- Base interest rate for balance above S$50,000
To earn higher bonus interest, William can choose to take up an investment product which means he will fulfil 2 categories. His bonus interest will then increase from 1.80% p.a. to 2.10% p.a. His balance cap also increases from S$50,000 to S$100,000, allowing him to earn bonus interest on a higher amount.
Example 3: Tertiary student
This is Andrea. She’s 21 years old, full-time student and spends S$100 through DBS PayLah!.
With a total eligible transaction of S$100, she qualifies for interest of
- 1.50% p.a. for the first S$50,000 and
- Base interest rate for balance above S$50,000.
Andrea can increase her interest rate from 1.50% p.a. to 1.80% p.a. when she credits her income through internships, part-time work, adding up to S$500 or more a month.
Example 4: Retiree
Philip is retired and receives his CPF LIFE monthly payouts through DBS. He also transacts his monthly expenses using PayLah!.
With a total eligible transaction of S$900, he qualifies for interest of
- 1.80% p.a. for the first S$50,000 in his Multiplier Account and
- Base interest rate for balance above S$50,000.
To unlock higher interest rates, Philip can transact in one more category. Using Vickers, he invests S$1,000. Philip now transacts in 2 categories and his interest rate increases from 1.80% p.a. to 2.10% p.a. His balance cap also increases from S$50,000 to S$100,000.
Enter your
Calculate my interest
How old are you?
Enter your transaction amounts
Enter your
transaction amounts
Select as many of the 4 categories that apply
PayLah/Credit Card Spend
Per month
Home Loan
Per month
Insurance
Per month
Investment
Per month
Eligibility & Fees
- You must be at least 18 years of age.
- No initial deposit required.
- Service charge of S$5 per month applies if your average daily balance falls below S$3,000 (inclusive of SGD equivalent of foreign currency balance). This service charge will be waived if:
- You are 29 years old or below, or
- DBS Multiplier is your first DBS/POSB account (online applications only).
- Early account closure fee of S$30 applies if account is closed within 6 months.
Other Services
Check your interest earned on digibank
With the Bank & Earn Summary, you will know how much bonus interest you have earned and the current bonus interest rate you are eligible for.
Access foreign currencies with Multiplier
Enjoy access to 13 currencies instantly via digibank at attractive exchange rate with no FX conversion fees and earn interest on foreign currencies.
Plus, get to earn cashback easily when you spend overseas! Simply set up your travel wallet by making your Multiplier account the primary multi-currency account linked to your DBS Visa Debit Card.
Learn more about your travel wallet.
Apply now
Open a Multiplier Account instantly on digibank app
Singaporeans, Permanent Residents, and Foreigners (EP/SP/DP /Long Term Visit Pass/Student Pass) can open a Multiplier Account instantly with Singpass.
Download digibank app
Refer to the documents required for account opening before you proceed.
| How to apply | |
|---|---|
| Register for Singpass here | Your Singpass should be ready to use once your Personal details are displayed in your Singpass mobile app. Pro tip: Select Face Verification for instant registration. For foreigners: Have your FIN number and Singapore (+65) mobile number ready. |
| Unable to register for Singpass | On digibank app, select “Continue without Singpass” and upload the supporting documents. |
FAQ & Eligible Transactions
Account Opening
How do I apply for DBS Multiplier Account online?
You can apply for DBS Multiplier Account via the digibank app.
For new DBS/POSB customers
Below are 3 simple steps on how you can open your account instantly
- Register for Singpass if you have not done so. Click here to register.
-
Download digibank app
- Apply for your account using Singpass, upload your passport (for Malaysian, upload front and back of your Malaysian IC) and your account will be opened instantly.
For existing customers with digibank access
All you need to do is log in and refer to the following guided steps:
Digibank Online
To apply for a new DBS Multiplier Account:
- Select Apply > Deposit Accounts > DBS Multiplier Account > Instant Apply OR
- Request > Opt-in Bank & Earn Programme
Digibank App
To apply for a new DBS Multiplier Account:
- Login to your digibank app, tap on ‘More’ followed by ‘Deposit Account’ and tap on ‘DBS Multiplier Account’.
For account opening between Mondays to Sundays (including Public Holidays), 7am to 10.30pm or on the last day of the month between 7am to 8pm, the account will be opened instantly. Beyond these periods, account opening will take 2 working days.
Can I convert my existing DBS/POSB account to Multiplier Account?
You can convert your existing personal DBS Autosave or DBS Multi Currency Account (joint account not allowed) to DBS Multiplier Account:
- Select Request > More Requests > Request for DBS Autosave Account Conversion
Bonus Interest
When do I get my interest?
Your DBS Multiplier Account pays you interest in two parts:
- Base interest: This gets added to your account on the last day of each month.
- Bonus interest: If you've earned any bonus interest, this gets added to your account by the 7th working day of the next month.
How is interest calculated?
Here's how we work out your interest:
- We add up all the eligible transactions for the full month. This total helps us figure out your bonus interest rate.
- The bonus interest rate applies only to your end-of-day SGD balance. The balance cap is the maximum amount of money that can earn bonus interest.
- We calculate the interest earned for each balance level. Then we round this off to the nearest four decimal places.
- We add up each day's interest earned and round this off to the nearest two decimal places.
- Finally, we add up the entire month's interest.
Income
You can qualify with any of the following:
Salary Credit to any DBS/POSB Deposit Account
- Credit your salary into your DBS/POSB SGD-denominated account via GIRO/FAST/PayNow with transaction code “SAL”/“PAY” or transaction description “SALARY”/“PAYROLL”/“COMMISSION”/“BONUS”.
Email your HR to credit your salary with DBS today.
Dividends Credit
- Credit your dividends via GIRO/FAST/PayNow with transaction code “CDP”/“NDIV” or transaction description “DIVIDEND” into your DBS/POSB account, DBS Wealth Management Account, Supplementary Retirement Scheme (SRS) Account or CPF Investment Account (CPFIA)
- Eligible dividends include Central Depository Pte Ltd (CDP), DBS Vickers Securities, DBS Online Equity Trading (OET), DBS Unit Trusts, DBS Online Funds Investing, DBS Invest-Saver.
Switch your dividend credit to DBS today. Log in to your CDP account to change your bank account details for Direct Crediting Service.
Annuities
- Credit your CPF payouts or SRS withdrawals via GIRO/FAST/PayNow with transaction code “CPF”/“SRS” or transaction description “CPF”/“SRS” into your DBS/POSB account.
Switch your CPF payouts or visit any of our branches to do an SRS Account transfer to DBS today.
Credit Card/ PayLah! Retail Spend
You can qualify with any of the following:
Spend with any DBS/POSB personal credit card(s)
- Eligible credit card spend consists of retail and cash advance transactions posted within the calendar month. Reversals/credits/refunds posted will offset eligible credit card spend.
- Eligible credit card spend across main cards & supplementary cards are accorded to the main cardholder.
Find out more about DBS Credit Cards here.
Spend with PayLah!
Eligible PayLah! transactions include:
- Payments to merchants through PayLah! in-app checkout, web checkout, express checkout
- Scan & Pay transactions
- Payments to billing organisations
- Donations to charitable organisations
Home Loan Instalment
- Valid for new and existing DBS/POSB home loan, for new home purchase or refinancing from another bank/HDB.
- The monthly instalment due (both cash and CPF included) on your DBS/POSB home loan(s) are included in the eligible transaction.
- The first 3 joint borrowers will be accorded the full monthly instalment amount due as eligible transaction.
Find out more about DBS Home Loans here.
Insurance
Multiplier recognises all Manulife Regular and Single Premium insurance policies distributed by DBS/POSB. No minimum premium amount required.
Regular Premium Policy
- Valid for new regular premium policy purchased after Multiplier Account is opened.
- The recognition of the monthly premium (i.e. Annualised premium/12) starts 1 month after policy inception and continues for 12 consecutive months as long as policy is in force.
Single Premium Policy
- Valid for new single premium policy purchased with cash or SRS after Multiplier Account is opened. The purchase date is based on policy sign date.
- The monthly premium amount will be calculated by dividing the single premium amount by 120. Recognition starts 1 month after policy inception and continues for 12 consecutive months as long as policy is in force.
Want to know more?
Chat with our friendly Wealth Planning Managers now. (This chat service is available from 9am to 6pm on Mon to Fri, excluding Public Holidays.)
Alternatively, you may leave your contact details and we will get in touch soon.
Investments
Unit Trust Lump-sum Investment
- Valid for new Unit Trust lump-sum or Online Funds Investment purchased with cash, CPFIA or SRS after Multiplier Account is opened.
- The investment amount will be recognised post settlement date.
Find out more about Unit trust lump-sum investments here.
DBS Invest-Saver
- Valid for new DBS Invest-Saver purchased after Multiplier Account is opened
- The monthly investment amount will be recognised for the first 12 consecutive months per fund
Find out more about DBS Invest-Saver here.
Online Equities Trade
- Valid for "BUY" equity trades with cash, CPF or SRS via DBS Vickers Online Trading or DBS Online Equity Trading after Multiplier Account is opened.
- The investment amount will be recognised post settlement date.
Find out more about online equities trade here.
digiPortfolio
- Valid for new digiPortfolio purchased after Multiplier Account is opened
- Minimum qualifying amount is S$1,000 transaction
- The investment amount will be recognised post settlement date
Find out more about digiPortfolio here.
Bonds & Structured Products
- Valid for new Bonds & Structured Products purchased after Multiplier Account is opened
- Eligible products include Bonds (excludes Singapore Savings Bonds and Singapore Government Securities), Structured Deposit, Currency Linked Investments and Structured Notes.
- The investment amount will be recognised post settlement date.
Find out more about Bonds & Structured Products here.
Join our Online Community
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Deposit Insurance Scheme
Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Retirement Sum Scheme are aggregated and separately insured up to S$75,000 for each depositor per Scheme member. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.
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