Important notice:
Revision of DBS Multiplier Account terms and interest rates from 1 August 2020.
Find out more here.

 

At a Glance

The DBS Multiplier Account is the easier way to multiply your money.

Higher interest rates of up to 3.8% p.a.

Multiply your money now with higher interest rates of 1.40% - 3.8% p.a. on bigger savings up to S$100,000.

No minimum income or credit card spend

No minimum amount needed for any category as long as your monthly total eligible transactions add up to S$2,000 or more. That’s our promise so you can Do Less, Multiply more.

More than just a Savings Account

Multiplier also doubles up as a multi-currency account so you can make cashless payments worldwide when you link it with a DBS Visa Debit Card. You can also save, transact, invest and remit in foreign currencies. And get your most preferred rate when you set an FX alert on digibank. So convenient, right?

Apply now

 

How it works

Earn higher interest on Multiplier Account balances when you do the following with DBS/POSB every month and the eligible transactions add up to S$2,000 or more.


 

Transact in more categories and increase your monthly eligible transaction amount to earn higher interest rates.

Meet Jack. He’s a first jobber who credits his monthly salary of S$3,500 into his DBS/POSB savings account and transacts in one category.

With Jack’s current balance of S$30,000 in his DBS Multiplier Account and a total eligible transaction of S$3,700, he qualifies for an interest of:

  • 1.60% p.a. for his first S$25,000 and
  • Prevailing base interest rate for the balances above S$25,000

To unlock higher interest rates he needs to transact in more categories.

For example, Jack adds on S$100 investment a month, bringing his total eligible transactions to S$3,800 a month. His interest rate increases from 1.60% to 2.00% p.a.


Philip is a retiree. He receives dividends of S$5,100 credited to his DBS Account and transacts in two categories.

With Philips’s current balance of S$55,000 in his DBS Multiplier Account and a total eligible transaction of S$6,800, he qualifies for interest of:

  • 2.2% p.a. for his first S$50,000 and
  • Prevailing base interest rate for balances above S$50,000

In order for Philip to earn higher interest for his remaining balance of S$5,000, he needs to pick up another eligible product category.


Say hello to Sarah. She’s a working adult who credits her salary and dividends totalling S$16,500 into her DBS/POSB savings account and is transacting in three categories.

Sarah’s balance of S$100,000 in her DBS Multiplier Account and total eligible transactions of S$28,500 earn her interest of:

  • 2.30% p.a. on her first S$50,000 and
  • 2.50% p.a. on the next S$50,000

Sarah needs to increase her monthly eligible transaction amount to S$30,000 or more to move on to the next tier of interest rates.

For example, Sarah increases her credit card spend to S$4,000 for a holiday, increasing her monthly eligible transactions to S$30,500. Now she earns 3.50% p.a. on her first S$50,000 and 3.80% p.a. on the next S$50,000 balance.

 

More Information

Credit your income to any DBS/POSB Deposit Account

  • Salary must be credited via GIRO, with transaction reference code 'SAL' or 'PAY'.
  • This is reflected as either 'GIRO SALARY' or 'SALARY' in the main transaction description in your Statement of Account.

Credit your dividends to any DBS/POSB deposit account

  • Dividends must be credited via GIRO, from Central Depository Pte Ltd (CDP) with transaction reference codes ‘CDP’ or ‘NDIV’.
  • For customers with DBS Wealth Management Account: Dividends must be credited from Singapore Exchange (SGX) traded securities.

  • The eligible credit card spend consists of retail and cash advance transactions posted within the 1st & last calendar day.
  • Eligible credit card spend across main cards & supplementary cards are accorded to the main cardholder.

  • Valid for new and existing DBS/POSB home loan, for new 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.

  • Purchase any of the following regular premium policies after opening your Multiplier Account:
    • CancerCare
    • Critical SelectCare
    • LifeReady Plus
    • ManuEdu First
    • Manulife SmartRetire
    • Manulife SmartWealth (II)
    • Manulife Spring
    • ManuProtect Decreasing
    • ManuProtect MoneyBack
    • ManuProtect Term
    • ManuProtect Term Lite
    • Ready LifeIncome
    • ReadyBuilder – Regular Premium
    • ReadyPayout Plus
    • RetireReady Plus – Regular Premium
  • Monthly premium amount due on in-force policies past free-look/cancellation period will be recognised for the first 12 consecutive months.

DBS Invest-Saver (Recognised for the first 12 consecutive months)

  • Valid for new DBS Invest-Saver purchased after opening your Multiplier Account.
  • The monthly contribution amount of Invest-Saver plan for Unit Trusts (UT) or Exchange Traded Funds (ETF) will be recognised for the first 12 consecutive contributions per investment fund.
  • Contribution must be made in cash, not using funds from your CPF or Supplementary Retirement Scheme (SRS) account.

Unit Trust lump-sum contribution via DBS/POSB

  • Valid for new Unit Trust lump-sum or Online Funds Investment purchased after opening your Multiplier Account.
  • The investment amount of your Unit Trust lump-sum contribution or Online Funds Investment will be recognised for the month only after the free-look/cancellation period.
  • Contribution must be made in cash, not using funds from your CPF or Supplementary Retirement Scheme (SRS) account.

Trade in equities online via DBS

  • Valid for fully settled "BUY" equity trades via DBS Vickers Online Account or DBS Online Equity Trading after opening your Multiplier Account.
  • Trades can be settled using cash or Supplementary Retirement Scheme (SRS).
  • The investment amount of your online equity trade will be recognised for the month only post settlement date.

 

Calculate your interest

Use the calculator to find out how much could you earn per year with the DBS Multiplier Account. Oh, did we mention that there’s no minimum transaction amount required for each category?

Step 2: Enter your transaction amounts

Credit your income (salary credit and/or dividends) in your DBS/POSB account

Income (salary credit and/or dividends) with DBS/POSB
per month
This is a mandatory field.

And, take up at least one of these categories with DBS/POSB

per month
per month
per month
per month

With an income of S$0 and transactions across 1 out of 4 categories, your total monthly eligible transaction amount of S$0:


S$

S$/year

Breakdown of Interest rate(s)

> S$100,000  
S$50,000  
S$0  
 

The calculated interest you're seeing is an estimate based on the assumption that your balance stays the same throughout. The calculated daily interest value is rounded off to 2 decimal places and then summed up for an entire year of 365 days.

 

Features & Benefits

The DBS Multiplier Account is a personal account without cheque facilities.



Same-day transfers at zero or lower fees when you remit funds online to selected countries. Learn more


Pay like a local and transact directly from your foreign currency wallets! Learn more

 

Ready to Multiply?

Apply now in 5 minutes and start multiplying!

For new DBS customers, please prepare the following required documents prior to your application.

 

Eligibility & Fees

  • You must be at least 18 years of age.
  • No initial deposit required. No monthly account fees.
  • If this is your first account with us, open online now and there will be no minimum average daily balance required.
  • Fall-below fee of S$5 if average daily balance falls below S$3,000 (based on total SGD equivalent of SGD & foreign currency balances). This fall-below fee is waived for you up until 29 years old.
  • Early closure fees of S$30 if account is closed within 6 months.
 

Offers

 

Join the discussions in our online community

Learn, share and grow with our community for Multiplier hacks and personal finance tips. Join us today!

Note:
  1. Higher interest rates are applicable to the S$ balance in your DBS Multiplier Account, up to the first S$100,000. Any amount over and above this will be accorded the prevailing interest rate for that month. Interest is credited in 2 parts:

    1. base interest at our prevailing interest rate, calculated on daily balances will be credited at month end, and

    2. preferential interest at the preferential interest rate (which is the higher interest rate less the prevailing interest rate) based on the sum of your eligible transactions with us, calculated on daily balances, by the 7th working day of the following month.

  2. If your transactions do not meet the criteria, the S$ balance in your DBS Multiplier Account will be accorded the prevailing interest rate for that month.

  3. Foreign currency transactions are subject to exchange rate fluctuations, which may result in capital gains or losses; such accounts may also be subject to exchange controls imposed on the currency held.

  4. Fall-below fee is waived for DBS Multiplier Account holders up to 29 years old, effective from May 2018 onwards.



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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