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At a Glance
The Multiplier Account is the easier way to multiply your money.
Higher interest rates of up to 3.8% p.a.
Multiply your money now with higher interest rates of 1.55% - 3.8% p.a. on bigger savings up to S$100,000. Yes, Multiplier just got BIGGER.
No minimum salary credit or credit card spend
No minimum amount needed for any category as long as your monthly total eligible transactions add up to S$2,000 or more. That’s our promise so you can Do Less, Multiply more.
How it works
Watch your money multiply like bunnies with the Multiplier Account when you do the following with POSB/DBS every month and the eligible transactions add up to S$2,000 or more.
Transact in more categories and increase your monthly eligible transaction amount to earn higher interest rates.
Meet Jack. He’s a first jobber who credits his monthly salary of S$3,500 into his POSB/DBS savings account and transacts in one category.
With Jack’s current balance of S$10,000 in his Multiplier Account and a total eligible transaction of S$3,700, he qualifies for an interest of 1.85% p.a., earning him S$182.50 per year!
To unlock higher interest rates he needs to transact in more categories.
For example, Jack adds on S$100 investment a month, bringing his total eligible transactions to S$3,800 a month. His interest rate increases from 1.85% to 2.00% p.a.
Say hello to Sarah. She’s a working adult who credits her monthly salary of S$16,500 into her POSB/DBS savings account and is transacting in three categories.
Sarah’s balance of S$100,000 in her Multiplier Account and total eligible transactions of S$28,500 earn her an interest of 2.30% p.a. on her first S$50,000 and 2.50% p.a. on the next S$50,000, resulting in S$2,401.70 a year!
Sarah needs to increase her monthly eligible transaction amount to S$30,000 or more to move on to the next tier of interest rates.
For example, Sarah increases her credit card spend to S$4,000 for a holiday, increasing her monthly eligible transactions to S$30,500. Now she earns 3.50% p.a. on her first S$50,000 and 3.80% p.a. on the next S$50,000 balance.
- Salary must be credited via GIRO, with transaction reference codes 'SAL' or 'PAY'.
- This is reflected as either 'GIRO SALARY' or 'SALARY' in the main transaction description in your Statement of Account
- Monthly spend consists of retail/cash advance transactions posted within the 1st & last calendar day
- Eligible transactions across main cards & supplementary cards are accorded to the main cardholder
- Monthly instalment(s) due on your home loan(s) with POSB/DBS will be recognised
- Cash and Central Provision Fund (CPF) components included
- Purchase any of the following regular premium policies after opening your Multiplier Account:
- ManuProtect MoneyBack
- ManuProtect Term
- ManuProtect Term Lite
- ManuProtect Decreasing
- ManuProtect Decreasing Lite
- Critical SelectCare
- LifeReady Plus
- Manulife SmartWealth (II)
- Manulife SmartRetire
- RetireReady Plus
- ReadyPayout Plus
- ManuFlexi Growth
- Ready LifeIncome
- ManuEdu First
- Monthly premium amount due on in-force policies past free-look/cancellation period will be recognised for the first 12 consecutive months
Credit your dividends to any POSB/DBS deposit account.
- Dividends must be credited via GIRO, from Central Depository Pte Ltd (CDP).
Purchase a Unit Trust via POSB/DBS
- Valid for Unit Trust Lump Sum Investments, Unit Trust Regular Savings Plan and POSB Invest-Saver purchased after opening your Multiplier Account
- The investment amount of your Unit Trust Lump Sum Investment will be recognised after you free-look/cancellation period
- Monthly contribution amount for Unit Trust Regular Savings Plan and/or POSB Invest-Saver will be recognised for the first 12 consecutive contributions per investment fund
- Purchase(s) must be made in cash, not using funds from your CPF or Supplementary Retirement Scheme (SRS) account
Trade in equities online via DBS
- Fully settled "BUY" equity trades via Vickers Online will be recognised
- For transactions via DBS Vickers online trading platforms, only the primary account holder will be accorded the transaction amount
Purchase a digiPortfolio
- Valid for digiPortfolio purchased after opening your Multiplier Account
- The full amount invested in the respective unit trusts purchased will be recognised for the month 4 calendar days after the trades have settled
Calculate your savings
Use the calculator to find out how much could you earn per year with the Multiplier Account. Oh, did we mention that there’s no minimum transaction amount required for each category?
Step 1: Enter your Multiplier Account balance
Step 2: Enter your transaction amounts
Credit your salary in your POSB/DBS account
And, take up at least one of these categories with POSB/DBS
With a salary credit of S$0 and transactions across 1 out of 4 categories, your total monthly eligible transactions amount of S$0:
Breakdown of Interest rate(s)
The calculated interest you're seeing is an estimate based on the assumption that your balance stays the same throughout. The calculated daily interest value is rounded off to 2 decimal places and then summed up for an entire year of 365 days.
Features & Benefits
The Multiplier Account is a personal account without cheque facilities.
Just use the "Bank and Earn Summary" by logging in to iBanking.
Save and transact in SGD and 12 foreign currencies
Same-day transfers at zero or lower fees when you remit funds online to selected countries. Learn more
Eligibility & Fees
- You must be at least 18 years of age.
- No initial deposit required. No monthly account fees.
- No minimum average daily balance required if this is your first account with us.
- Fall-below fee of S$5 if average daily balance falls below S$3,000 (based on total SGD equivalent of SGD & foreign currency balances). This fall-below fee is waived for you up until 29 years old.
- Early closure fees of S$30 if account is closed within 6 months.
Ready to Multiply?
For new DBS customers, please prepare the following required documents prior to your application.
Join the discussions in our online community
Learn, share and grow with our community for Multiplier hacks and personal finance tips. Join us today!
Higher interest rates are applicable to the S$ balance in your Multiplier Account, up to the first S$100,000. Any amount over and above this will be accorded the prevailing interest rate for that month. Interest is credited in 2 parts:
base interest at our prevailing interest rate, calculated on daily balances will be credited at month end, and
preferential interest at the preferential interest rate (which is the higher interest rate less the prevailing interest rate) based on the sum of your eligible transactions with us, calculated on daily balances, by the 7th working day of the following month.
If your transactions do not meet the criteria, the S$ balance in your Multiplier Account will be accorded the prevailing interest rate for that month.
Foreign currency transactions are subject to exchange rate fluctuations, which may result in capital gains or losses; such accounts may also be subject to exchange controls imposed on the currency held.
Fall-below fee is waived for Multiplier Account holders up to 29 years old, effective from May 2018 onwards.
Deposit Insurance Scheme
Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Retirement Sum Scheme are aggregated and separately insured up to S$75,000 for each depositor per Scheme member. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.