After the recent change made to the Citi MaxiGain Account in Dec 2019, DBS has followed suit amid interest rate cut by US Fed. First launched in Nov 2017, DBS will be revising the terms and conditions on the DBS Multiplier Account for the second time with effect from 1 February 2020.
This article aims to provide an overview of the upcoming changes, how the existing account holders may be affected by the revision and ways to transact in another category. You may also wish to refer to the revised Terms & Conditions for more information.
Revision of Interest Rates for DBS Multiplier Account from 1 Feb 2020The Salary Crediting will be renamed to Income category and the crediting of dividends will now come under the Income instead of the Investment category. That is to say, the new Income category will encompass the crediting of salary and/or dividends credited via GIRO. Crediting of salary and dividends will now be grouped