Today is the first day of the year 2020 and DBS Bank chose this day to send an email notification about their DBS Multiplier Account changes. There are some changes to DBS Multiplier Account that will take place from 1st February 2020.
With the changes, dividend received from Central Depository Pte Ltd (CDP) will no longer qualify as the investment category but the income category instead. Income category is where salary credit belongs to. This also means that the DBS Multiplier Account + Singapore Savings Bond Hack that I have completed last year is no longer valid.
Below is a summary of the changes.
What a way to kick start 2020…