Frequently Asked Questions (FAQs)

DBS Multiplier Account

 

General

The DBS Multiplier Account is a personal deposit account that rewards you higher interest when you when you transact with DBS/POSB. There are three ways for you to earn higher interest rates:

Option 1: Credit your salary/ dividends/ connect with SGFinDex and transact in one or more of the following categories: credit card spend, home loan instalment, insurance, investments, adding up to S$2,000 or more.

Option 2: Credit your salary/ dividends/ connect with SGFinDex and transact with PayLah! for retail spend, adding up to S$500 or more.

Option 3: Transact with PayLah! for retail spend (29 years old and below).

DBS Multiplier Account has Singapore Dollar and 12 foreign currencies rolled into one account and comes with digibank and eStatement. The account does not come with facilities.


You can only hold 1 Multiplier Account. Also you can only take up a Multiplier Account or POSB Cashback Bonus, not both.


You can apply for DBS Multiplier Account online through DBS website or digibank. For digibank, login and follow one of these options:

  1. Setting up a new DBS Multiplier Account by following these steps in digibank:
    • Apply > Deposit Accounts > DBS Multiplier Account > Instant Apply OR
    • Request > Opt-in Bank & Earn Programme
  2. Convert existing personal DBS Autosave or DBS Multi Currency Account (joint account not allowed) to DBS Multiplier Account in digibank:
    • Request > More Requests > Request for DBS Autosave Account Conversion

If you apply for a new account between Mondays to Sundays (including Public Holidays), 7am to 10.30pm, your account will be opened instantly. Should the account be opened on the last day of the month, applications made between 7am and 8pm will be opened instantly. Beyond these periods, account opening will take 2 working days.


Upon successful switching, any cashback not yet credited will be forfeited. Any existing insurance or invest-saver plan will also cease to be recognised as eligible transactions under DBS Multiplier Account.

 
 

Preferential Interest

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

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

The interest is calculated daily.

  1. The preferential interest rate is applied to the end-day SGD balance in your DBS Multiplier Account.
  2. Interest earned for each balance tier is calculated and rounded off to the nearest 4 decimal places.
  3. Each day’s interest earned is summed up and rounded off to the nearest 2 decimal places.
  4. The entire month’s interest is then summed up.

You need to do one of the following:

Option 1: Credit your salary/ dividends/ connect with SGFinDex and transact in one or more of the following categories: credit card spend, home loan instalment, insurance, investments, adding up to S$2,000 or more.

Option 2: Credit your salary/ dividends/ connect with SGFinDex and transact with PayLah! for retail spend, adding up to S$500 or more.

Option 3: Transact with PayLah! for retail spend (For 29 years old and below).

If you do not qualify for any of the above options, you will enjoy the prevailing base interest rate in your DBS Multiplier Account.


Option 1. Salary/ Dividends/ SGFinDex and Transactions in Credit Card / Home Loan / Insurance / Investment

 

DBS Multiplier Account Balance

 

First S$25,000

First S$50,000

Next S$50,000

Total eligible transactions per month

Salary/ Dividends/ SGFinDex + transactions

in 1 category

Salary/ Dividends/ SGFinDex + transactions

in 2 categories

Salary/ Dividends/ SGFinDex + transactions

in 3 or more categories

<S$2,000

0.05% p.a.

0.05% p.a.

0.05% p.a.

≥S$2,000 to <S$2,500

0.40% p.a.

0.60% p.a.

1.20% p.a.

≥S$2,500 to <S$5,000

0.40% p.a.

0.70% p.a.

1.40% p.a.

≥S$5,000 to <S$15,000

0.50% p.a.

0.80% p.a.

1.60% p.a.

≥S$15,000 to <S$30,000

0.50% p.a.

1.00% p.a.

1.70% p.a.

≥S$30,000

0.60% p.a.

2.00% p.a.

3.00% p.a.

 

Example 1:

Total eligible transactions for the month: S$7,056

  • Salary: S$5,000
  • Credit Card Spend: S$800
  • Home Loan Instalment: S$1,256

Based on Salary/ Dividends/ SGFinDex + transactions in 2 categories:

  • First S$50,000: 0.80% p.a.
  • Beyond S$50,000: 0.05% p.a.

Example 2:

Total eligible transactions for the month: S$31,500

  • Salary and Dividends: S$20,000
  • Credit Card Spend: S$1,000
  • Home Loan Instalment: S$2,500
  • Investment: S$8,000

Based on Salary/ Dividends/ SGFinDex + transactions in 3 categories:

  • First S$50,000: 2.00% p.a.
  • Next S$50,000: 3.00% p.a.
  • Beyond S$100,000: 0.05% p.a.

Example 3:

Total eligible transactions for the month: S$2,056

  • SGFinDex: Connected
  • Salary/ Dividends: S$0
  • Credit Card Spend: S$800
  • Home Loan Instalment: S$1,256

Based on Salary/ Dividends/ SGFinDex + transactions in 2 categories:

  • First S$50,000: 0.60% p.a.
  • Beyond S$50,000: 0.05% p.a.

Example 4:

Total eligible transactions for the month: S$11,500

  • SGFinDex: Connected
  • Salary: S$5,000
  • Credit Card Spend: S$1,000
  • Home Loan Instalment: S$2,500
  • Investment: S$3,000

Based on Salary/ Dividends/ SGFinDex + transactions in 3 categories:

  • First S$50,000: 0.80% p.a.
  • Next S$50,000: 1.60% p.a.
  • Beyond S$100,000: 0.05% p.a.

Option 2. Salary/ Dividends/ SGFinDex and PayLah! Retail Spend

Option 3. PayLah! Retail Spend (For 29 years old and below)

 

DBS Multiplier Account Balance

 

­­­First S$10,000

Total eligible transactions per month

PayLah! Retail Spend only (For 29 years old and below)

Salary/ Dividends/ SGFinDex + PayLah! Retail Spend only

>S$0 to <S$500

0.30% p.a.

0.05% p.a.

≥S$500

0.40% p.a.

 

Example 1:

Age: 21 years old

Total eligible transactions for the month: S$20

  • Salary/ Dividends: S$0
  • PayLah! Retail Spend: S$20

Based on PayLah! Retail Spend:

  • First S$10,000 balance: 0.30% p.a.

Example 2:

Age: 21 years old

  • SGFinDex: Connected
  • Salary/ Dividends: S$0
  • PayLah! Retail Spend: S$600

Based on PayLah! Retail Spend:

  • First S$10,000 balance: 0.40% p.a.

Example 3:

Age: 32 years old

  • Salary/ Dividends: S$0
  • PayLah! Retail Spend: S$600

Based on Salary/ Dividends/ SGFinDex + PayLah! Retail Spend:

Full balance: 0.05% p.a. (Applies only to 29 years old and below)

 

Example 4:

 Age: 32 years old

  • SGFinDex: Connected
  • Salary/ Dividends: S$0
  • PayLah! Retail Spend: S$600

Based on Salary/ Dividends/ SGFinDex + PayLah! Retail Spend:

First S$10,000 balance: 0.40% p.a.

 
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Eligible Transactions

  1. Salary/ Dividends/ SGFinDex: Credit your salary or dividend to any personal or joint DBS/POSB deposit account or connect and share financial information from your other banks, CPF, HDB or IRAS with SGFinDex and request for information retrieval of the linked accounts through NAV Planner each month.
  2. Credit Card Spend: Retail and cash advance transactions with any DBS/POSB personal credit cards.
  3. Home Loan Instalments: Monthly instalments due on disbursed DBS/POSB residential loans.
  4. Insurance: policies purchased via DBS/POSB, after you have successfully opened DBS Multiplier Account. Existing insurance policies you have before account opening will not be recognised.
  5. Investments: New investments purchased via DBS/POSB after opening your DBS Multiplier Account. Existing investments you have before account opening will not be recognised.
    1. Unit Trust lump-sum
    2. DBS Invest-Saver
    3. digiPortfolio (min S$1,000 per transaction)
    4. Online equity trades made via DBS Vickers or DBS Online Equity Trading
    5. Bonds & Structured Products

No. Total monthly eligible transactions is derived by summing up the monthly amounts for: Salary and/or dividends, Credit Card Spend, Home Loan Instalments, Insurance and Investments.


No. Eligible transactions are automatically detected across the DBS/POSB products held by you. You only need to deposit funds in your DBS Multiplier Account, while transacting with your usual DBS/POSB products to enjoy the higher interest rates.


Computation begins from the date of DBS Multiplier Account opening to the last day of the month. If your DBS Multiplier Account is opened on the last day of the month, computation will only begin on the first day of the following calendar month. For subsequent months, it will be computed from the first to last day of the month.


You can track your eligible transactions through digibank in the Bank & Earn Summary where you can view current month and the past 2 months.

How to navigate to Bank and Earn Summary in digibank mobile:

 
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Salary/ Dividends / SGFinDex

You can qualify for the Salary/ Dividends/ SGFinDex category through one or more of the following ways:

  • Salary credit: Credit your salary into any of your personal or joint DBS/POSB deposit accounts via GIRO with transaction reference codes ‘SAL’ or ‘PAY’. The main description in your Statement of Account is “Salary” or “GIRO Salary”.

    Example:

  • Dividends credit: Credit your dividends into any of your personal or joint DBS/POSB deposit accounts, DBS Wealth Management Account, Supplementary Retirement Scheme (SRS) account or CPF Investment Account (CPFIA).

    Eligible dividends included: Central Depository Pte Ltd (CDP), DBS Vickers Securities, DBS Online Equity Trading (OET), DBS Unit Trusts, DBS Online Funds Investing, DBS Invest-Saver.

  • SGFinDex: Connect and share financial information from your other banks and government accounts (CPF, HDB and IRAS) with SGFinDex and request for information retrieval of the linked accounts through DBS NAV Planner monthly.

No. All are classified under the Salary/ Dividends/ SGFinDex category and will be counted as 1 category. However, salary credit and dividend credit will be summed up under total monthly eligible transactions for the month.


You can inform your company HR to use GIRO code 22 when they process the payroll/salary file to their corporate bank.


The combined total salary and dividend credits in that joint account will be recognised under the individual DBS Multiplier Accounts.

Example 1: John and Mary credit their salaries (S$3,000 and S$3,100 respectively) and dividends (S$500 each) into their joint POSB savings account. They have their own DBS Multiplier Accounts and are accorded a total income amount of S$7,100 each.

Example 2: George credits his salary of S$4,000 into a joint POSB savings account shared with Emily. Emily does not have an income. They have their own DBS Multiplier Accounts and are accorded a total income amount of S$4,000 each.


SGFinDex connection will not count towards the total monthly amount of Eligible Transactions.

 
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Credit Card Spend

Only posted retail and cash advance transactions will be recognised as eligible credit card spend. Balance transfers, instalment payment plans, preferred payment plans, and any fees/ charges imposed by the bank are not eligible.

Example:

30 Aug: Credit card spend is made at a merchant.

1 Sep: Transaction is posted to your credit card account.

This transaction is therefore recognised under September’s credit card spend (not August).


Yes. However, the supplementary card’s eligible transactions will be accorded to the principal credit card holder.


Yes. Any posted reversal/refund/credit will offset the eligible credit card spend. If the total amount of the reversals/refunds/credits exceeds the eligible credit card spend, there will not be any eligible transaction recognised under the Credit Card Spend category.


No. Eligible credit card transactions are automatically detected across all the personal DBS/POSB Credit Cards held by you. DBS Multiplier Account recognises credit card transactions made via American Express® / MasterCard® / Visa.


The interest will be computed based on the combination that will give you the higher interest rate.

 

Example 1:

  • Salary/ Dividends: S$5,000
  • Credit Card Spend: S$800
  • PayLah! Retail Spend: S$200

Based on Salary/ Dividends/ SGFinDex + Credit Card Spend, you qualify for 0.50% p.a.

Based on Salary/ Dividends/ SGFinDex + PayLah! Retail Spend, you qualify for 0.40% p.a.

Interest rate you will receive: 0.50% p.a.

Example 2:

  • Salary/ Dividends: S$1,500
  • Credit Card Spend: S$300
  • PayLah! Retail Spend: S$200

Based on Salary/ Dividends/ SGFinDex + Credit Card Spend, you qualify for 0.05% p.a.

Based on Salary/ Dividends/ SGFinDex + PayLah! Retail Spend, you qualify for 0.40% p.a.

Interest rate you will receive: 0.40% p.a.

 
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Home Loan Instalments

The first 3 joint borrowers of the home loan will each be accorded the full amount of monthly instalment due. This amount is not divided among borrowers.


Yes. Both CPF and/or cash contributions for the home loan instalment will be included in the eligible transaction amount. The cash contribution can be deducted from any personal or joint DBS/POSB deposit account.


Yes. The monthly instalment due is accorded to the first 3 joint borrowers of the loan, regardless of whether the LSA is under their names.


The amount accorded under the Home Loan Instalments category is based on the instalment due date:

  • For private properties, the instalment is payable on 1st of every month
  • For HDB flats, the instalment is payable on 15th of every month

If your DBS Multiplier Account was opened after the instalment due date, the recognition will start next month instead.


Yes, both cash and CPF contributions are recognised.

 
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Insurance

Only selected new regular/single premium insurance policies purchased through DBS/POSB in cash or with funds in DBS Supplementary Retirement Scheme (SRS) account after the DBS Multiplier Account is opened qualify as eligible transactions. The policy sign date will be taken as the date of purchase.


Eligible single and regular premium insurance policies will be recognised for bonus interest over 12 months. We will derive the monthly premium amount by:

Single premium policies: dividing the single premium amount by 120, 

Regular premium policies: dividing the annualised regular premium amount by 12


The inclusion of the monthly premium amount as an eligible transaction will start 1 month after the policy inception date and continue for 12 consecutive months as long as the policy is in force.

Example:

 

Policy inception date

20 July

Recognition starts in

16 August

(You will receive your preferential interest on the 7th working day of September)


In the event that there are modifications to the insurance policy, the monthly premium will cease to be included as an eligible transaction. This will take effect from the month where the modifications are made.

Modifications can include but are not limited to change in premium payment frequency and reassignment of policy ownership.


No. All are classified under the Insurance transaction category and so will be counted as 1 category. However, they will all be summed up under total monthly eligible transactions for the month.


Regular premium policies:

Single premium policies:

  • CancerCare
  • Critical SelectCare
  • eCriticalCare
  • eDecreasingTerm
  • LifeReady Plus (II)
  • Manulife SmartRetire (III)
  • Manulife SmartWealth (II)
  • Manulife Spring (II)
  • ManuProtect Decreasing (II)
  • ManuProtect Decreasing Lite (II)
  • ManuProtect Term (II)
  • ManuProtect Term Lite (II)
  • Ready LifeIncome (II)
  • ReadyBuilder (II) – Regular Premium
  • RetireReady Plus (III) – Regular Premium
  • RetireSavvy
  • SavvySpring (II)
  • TermProtect

 

  • Heirloom (VII)
  • Manulife Goal 9
  • ReadyBuilder (II)​
  • RetireReady Plus (III)
  • RetireSavvy 
  • SavvyEndowment 6
  • Signature Income Series
  • Signature Indexed Universal Life (II)
  • Signature Indexed Universal Life Select
  • Signature Life Series
  • Signature Wealth
 
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Investments

No. All are classified under the Investments transaction category and so will be counted as 1 category. However, they will all be summed up under total monthly eligible transactions for the month.


Investment transactions will be recognised as the Singapore dollar equivalent at DBS’ prevailing exchange rate.


 

Unit Trust Lump-Sum

Only new Unit trust lump-sum purchase(s) made in cash, funds from your DBS CPFIA or DBS SRS account after you have successfully opened your DBS Multiplier Account will be recognised as eligible transactions.


The full amount is recognised for post settlement date of the selected fund as per the fund settlement cycle.

 

DBS Invest-Saver

Only new DBS Invest-Saver purchase(s) made after you have successfully opened your DBS Multiplier Account will be recognised as eligible transactions.


DBS Invest-Saver will be recognised in the same month, if you sign up before the deduction date, 15th of the month (or the next business day if the 15th is a Sunday or Public Holiday). Else, it will be recognised the next month. It will be recognised for the first 12 consecutive months, per investment fund post settlement date of the selected fund as per the fund settlement cycle.

Example:

 

Deduction Date

15 April (or next business day if 15th is a Sunday or Public Holiday)

Settlement Date / Recognition Date

21 April (3 to 4 working days, depending on fund house)


Yes, you may update the amount and it will be recognised if deduction is successful.


Inclusion of the monthly contributions as eligible transactions will cease from the month where there is any failed deduction, or the DBS Invest-Saver is terminated.


No. For the re-purchase to be recognised, the fund has to be terminated and fully redeemed for at least 6 months from the date of termination or date of full redemption, whichever is later. Alternatively, you may consider purchasing a new fund to continue recognition.

Example:

 

Termination Date

29 April

Full Redemption Date

30 April

Re-purchase Set Up Date

Re-purchase after 30 October will be recognised

 

Online Equity Trade

Only “BUY” equity trades purchased via DBS Vickers Online Account or DBS Treasures Online Equity Trading using cash, CPF or SRS qualify as eligible transactions for the month, after settlement date.

For joint DBS Wealth Management Account, the equity trades will be recognised in full for each joint account holder under their individual DBS Multiplier Accounts.


The following transactions are ineligible: Contra trades, sell trades, and trades executed via Trading Representatives and DBS Vickers Customer Service Line.


 

digiPortfolio

Only new digiPortfolio purchase(s) made after you have successfully opened your DBS Multiplier Account will be recognised as eligible transactions.


The lump sum invested (min S$1,000 per transaction) will be included as an Eligible Transaction post settlement date. Both funds-based and ETFs-based digiPortfolios are recognised.

 

Bonds & Structured Products

Only new purchase(s) made after you have successfully opened your DBS Multiplier Account will be recognised as eligible transactions.


The lump sum invested will be included as an Eligible Transaction post settlement date.

Singapore Savings Bond, Singapore Government Securities

 
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PayLah! Retail Spend

  1. Payments to merchants: through DBS PayLah! in-app checkout, merchant in-app checkout, web checkout, express checkout
  2. Scan & Pay transactions: Make payments to participating merchants by scanning the Fave, NETS, SG and/or PayNow QR codes using your DBS PayLah! Simply look out for these logos below.

  3. Pay bills: using DBS PayLah! App
  4. Donations to charitable organisations: using DBS PayLah! (Android App only)

Non-Eligible Transactions include Peer-to-Peer (P2P) fund transfers via PayLah! message, mobile number, QR Code & Payment Link, eGift, QR Gift.


Yes. Any posted reversals/refunds/credits transactions will offset the eligible PayLah! Retail Spend. If the total amount of the reversals/refunds/credits exceeds the eligible PayLah! Retail Spend, there will not be any eligible transaction recognised.


PayLah! Retail Spend transactions will be accorded only to the owner of the PayLah! wallet that the transaction is made from.


The interest will be computed based on the combination that will give you the higher interest rate.

 

Example 1:

  • Salary/ Dividends: S$5,000
  • Credit Card Spend: S$800
  • PayLah! Retail Spend: S$200

Based on Salary/ Dividends/ SGFinDex + Credit Card Spend, you qualify for 0.50% p.a.

Based on Salary/ Dividends/ SGFinDex + PayLah! Retail Spend, you qualify for 0.40% p.a.

Interest rate you will receive: 0.50% p.a.

Example 2:

  • Salary/ Dividends: S$1,500
  • Credit Card Spend: S$300
  • PayLah! Retail Spend: S$200

Based on Salary/ Dividends/ SGFinDex + Credit Card Spend, you qualify for 0.05% p.a.

Based on Salary/ Dividends/ SGFinDex + PayLah! Retail Spend, you qualify for 0.40% p.a.

Interest rate you will receive: 0.40% p.a.

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Revisions to Multiplier Acct

 

Before 1 October 2021

From 1 October 2021

Salary/ Dividends/ SGFinDex

  1. Salary
  2. Dividends
  1. Salary
  2. Dividends
  3. SGFinDex NEW

Insurance

  1. Regular premium policies
  1. Regular premium policies
  2. Single premium policies (using Cash, SRS) NEW

Investments

  1. DBS Invest-Saver
  2. Online equity trades
  3. Unit Trust (Cash)
  1. DBS Invest-Saver
  2. Online equity trades
  3. Unit Trust (using Cash, CPF, SRS) EXPANDED
  4. digiPortfolio NEW
  5. Bonds & Structured Products NEW

Yes. The revisions from 1 October 2021 will apply to existing and new DBS Multiplier Account holders.