You might recall that the last update (Link Here) I made with regards to the DBS Multiplier was in May 2019 last year.
Back then, they've enlarged the proportion of the categories and interest rates, making the maximum effective interest rates on applicable transactions up to 3.65% on the first $100k.
Since then, we've seen central banks around the world cutting interest rates back close to zero and this resulted in banks having to follow suit to making revised changes to their savings account and fixed deposits issuance.
With effect from 1 August 2020, the multiplier interests for the Income + 1 and 2 categories are going to come down (as expected) and quite a bit too from the last revision.
The changes from the 1 category are in variance of 0.7% difference for transactions that are above $2k.
That means if you've...