Personal Finance
Rates Up: DBS Multiplier and UOB One Increase Rates
By Sethisfy  •  August 2, 2022
Interest rates have been rising for a while now and banks have finally responded accordingly: DBS and UOB have both announced increases to the rates of their flagship banking accounts. Thanks to Oxygen and V for sharing. DBS Multiplier It’s been sometime since I talked about DBS Multiplier, and the account gives rates according to the number of categories you fulfil. Each month, you have to either:
  • credit your salary with DBS;
  • credit your dividends with DBS; or
  • link SGFinDex and request for information retrieval monthly.
On top of this, you have to qualify for at least 1 category:
  • Credit Card Spend
  • Home Loan Instalment
  • Insurance
  • Investments
DBS is proclaiming a rate of 3.5% p.a, but that’s provided you fulfil 3 categories (do note that salary/dividends/SGFindex does not count as a category), make at least S$30,000 of eligible transactions, and it’s only for balances above your first $50,000....
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By Sethisfy
As an adult, I’ve been through many ups and downs in my career path and personal finance journey, not unlike many Singaporeans. From my years as a tied insurance agent turned independent financial adviser, I realised that there are very few sources of proper, unbiased financial advice for working adults to access. Worse, self-styled “financial consultants” are selling products like savings plans and ILPs to the detriment of the clients whose interests they were supposed to serve.

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