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:

• 1.50% p.a. for his first S$50,000 and​
• Base interest rate for balances above S$50,000​

To unlock higher interest rates, Jack can transact in one more category. By investing S$100 a month, Jack transacts in 2 categories and his interest rate increases from 1.50% p.a. to 1.80% p.a.​

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

With Philip’s total eligible transaction of S$6,800, he qualifies for interest of:​

• 1.80% p.a. for his first S$100,000 and​
• Base interest rate for balances above S$100,000​

In order for Philip to earn higher bonus interest on his Multiplier Account, he can pick up another eligible product category such as investments.​

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

1. Register for Singpass if you have not done so. Click here to register.
    
2. Download the digibank app from your App store
        
   
   
3. 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

• 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.

When will I receive my interest?

The interest is credited into your DBS Multiplier Account in 2 parts:

• Base interest: Credited on the last calendar day of the month
• Bonus interest (if any): Credited by the 7th working day of the following month

How is the interest calculated?

• Your full month’s eligible transactions are totalled up to determine your bonus interest rate(s).
• Bonus interest rate applies only to end-day SGD balances up to the applicable balance cap(s).
  • Interest earned for each balance tier is calculated and rounded off to the nearest 4 decimal places.
  • Each day’s interest earned is summed up and rounded off to the nearest 2 decimal places.
  • The entire month’s interest is then summed up.

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.

• 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.

Multiplier recognises all Manulife Regular and Single Premium insurance policies distributed by DBS/POSB. No minimum premium amount required.​

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