There are lots of different types of savings accounts in Singapore. There are the fundamental ones that give a meagre 0.05% p.a. interest rate there also savings accounts that give you high rates of interest, as long as you do more than just credit your salary into the account.
The DBS Multiplier Account is an illustration of a higher rate of interest savings account. This infographic highlights 9 reasons why you should start utilizing a DBS Multiplier Account.
The DBS Multiplier Account
The DBS Multiplier Account offers higher interest rates as high as 3.8% p.a. without any minimum salary credit or charge card spend required. This will make it great for teenagers which are only starting out within the workforce in addition to couples that want to optimise their interest rates.
DBS has also recently revamped the DBS Multiplier Account, enabling you to multiply your hard earned money with higher interest rates of 1.55% – 3.8% p.a. on bigger savings as much as S$100,000.
Here's how the DBS Multiplier Account works:
The DBS Multiplier account grows with you as you start your financial planning and progress through various stages of your life. It rewards you for the transactions in categories such as investing, home loans and insurance.
For those looking for a savings account that gives you high interest rates for your financial planning efforts, the DBS Multiplier would fit the bill.
You can find out much more about the DBS Multiplier here.