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Tag: DBS Multiplier Account

DBS Multiplier Account allows you to earn additional interests for each category that you fulfilled. Blog posts related to how My Sweet Retirement maximise his DBS Multiplier Account.

DBS Multiplier Account Just Got Bigger

May 4, 2019May 4, 2019 My Sweet Retirement Leave a comment

DBS Multiplier Account Just Got Bigger

I have previously wrote about Why I Switched to DBS Multiplier Account in the year 2017. If you can remember, the main selling points of the DBS Multiplier Account are

  1. No minimum salary credit
  2. No minimum credit card spend

After two years, I am glad there are changes to the DBS Multiplier Account which in my personal opinion are excellent changes as I get to earn higher interests without doing anything.

Previously, DBS Multiplier Account holders only get to earn higher interest rate on your first S$50,000. With the change, you can now earn higher interest rates on your savings up to S$100,000. The highest interest rate you can reach is 3.8% per annum.

DBS Multiplier Account Just Got Bigger

On top of salary credit, the categories eligible remains the same. The categories are

  1. Credit Card Spend
  2. Home Loan Installments
  3. Insurance Premiums
  4. Investments

The following breakdown shows the additional interest rate you can earn on the next S$50,000 on top of the first S$50,000. I do not have any home loan or insurance premiums with DBS but I usually fulfill the credit card spend and investments category. There is a DBS Multiplier Account + Singapore Savings Bonds hack that I wrote about which makes qualifying the investments category pretty easy.

DBS Multiplier Account Just Got Bigger

Good job DBS Multiplier!

June 2018 Singapore Savings Bonds is 2.43%

May 5, 2018May 5, 2018 My Sweet Retirement Leave a comment

June 2018 Singapore Savings Bonds is 2.43%

The effective interest rate for June 2018 Singapore Savings Bonds if you held it for 10 years is 2.43%. This is the highest interest rate for the past 12 months of Singapore Savings Bonds.

There are many ways the Singapore Savings Bonds can be useful. As it yields higher interest rates than most traditional savings account ( Singapore Savings Bond versus Savings Account versus Fixed Deposits ), it can be the best place to park your spare cash or serve as a temporary war chest for your stock investments.

I personally like to allocate a portion of my annual wage bonus and park them in Singapore Savings Bonds. This is in the event I get retrench by my current employer, the Singapore Savings Bonds can act as a lifesaver while I take time to look for a new job. Read More

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