Last updated on September 21st, 2021

You’ve started earning a salary and are thinking of crediting it to your DBS Multiplier account. However, you realise that the SingLife Account offers a really attractive return rate. Which account should you choose? Here’s a comparison between these 2 accounts to see which is better for you.

Type of Account

The DBS Multiplier is a savings account by DBS. However, the SingLife Account is an insurance savings plan. This difference is mainly evident in the coverage by SDIC.

DBS Multiplier is covered by the Deposit Insurance Scheme

The DBS Multiplier is covered under the Deposit Insurance Scheme. This means that all of your deposits will be covered up to $75k. The Deposit Insurance Scheme’s coverage is per depositer per member. This means that the total value of your deposits in DBS and POSB accounts will be covered up to $75k....