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
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
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....