Meet Jack. He’s a first jobber who credits his monthly salary of S$3,500 into his DBS/POSB savings account and transacts in one category.

With Jack’s current balance of S$30,000 in his DBS Multiplier Account and a total eligible transaction of S$3,700, he qualifies for an interest of:

• 1.50% p.a. for his first S$50,000 and​
• Base interest rate for balances above S$50,000​

To unlock higher interest rates, Jack can transact in one more category. By investing S$100 a month, Jack transacts in 2 categories and his interest rate increases from 1.50% p.a. to 1.80% p.a.​

Philip is a retiree. He receives dividends of S$5,100 credited to his DBS Account and transacts in two categories.

With Philip’s total eligible transaction of S$6,800, he qualifies for interest of:

• 1.80% p.a. for his first S$100,000 and​​
• Base interest rate for balances above S$100,000​

In order for Philip to earn higher bonus interest on his Multiplier Account, he can pick up another eligible product category such as investments.​

How do I apply for DBS Multiplier Account online?

For new DBS/POSB customers
Open your account instantly via digibank app.

1. Register for Singpass if you have not done so. Click here to register.
    
2. Download the digibank app from your App store
   
   
   
3. Apply for your account using Singpass, upload your passport (for Malaysian, upload front and back of your Malaysian IC).

For existing customers with digibank access
Log in and refer to the following guided steps:

Digibank Online

• Select Apply > Deposit Accounts > DBS Multiplier Account > Instant Apply OR
• Request > Opt-in Bank & Earn Programme

Digibank App

• Tap on ‘More’ > tap on ‘Deposit Account’ (under Apply) > tap on ‘DBS Multiplier Account’.

DBS Multiplier account can be opened instantly:

• Mondays to Sundays (including Public Holidays), 7am to 10.30pm
• the last day of the month, 7am to 8pm

Account opening will take 2 working days beyond these periods.

What do I need to open DBS Multiplier Account via digibank app?

Please ensure that you are at least 18 years old and have the following:

• A valid mobile number that you use
• A valid email address that you use
• Your residential/mailing address
• Your Singpass account, for instant account opening. If you don’t have it yet, register here.
• Any supporting documents. Details on accepted supporting documents can be found here.

Note: To receive your debit card and to activate your account using SMS Banking, please use a Singapore residential/mailing address and a Singapore (+65) mobile number.

I don’t have Singpass access, what are the important information I need to know?

• You can choose the CONTINUE WITHOUT SINGPASS to apply.
• You need to upload all supporting documents. Details on accepted supporting documents can be found here.
• Your debit card and PIN will be delivered to your residential address.
• You need Singapore (+65) mobile number to activate your debit card.
• You need active debit card to register for digibank access separately.

Note: To receive your debit card and to activate your account using SMS Banking, please use a Singapore residential/mailing address and a Singapore (+65) mobile number.

Can I convert my existing DBS/POSB account to Multiplier Account?​

You can convert your existing personal DBS Autosave or DBS Multi Currency Account (joint account not allowed) to DBS Multiplier Account:​

• Select Request > More Requests > Request for DBS Autosave Account Conversion

Can I open more than 1 DBS Multiplier Account or enrol in both DBS Multiplier Account and POSB Cashback Bonus?
You can only hold either 1 Multiplier Account or POSB Cashback Bonus, not both.

• You must be at least 18 years of age.
• No initial deposit required.
• Service charge of S$5 per month applies if your average daily balance falls below S$3,000 (inclusive of SGD equivalent of foreign currency balance). This service charge will be waived if:
  • You are 29 years old or below, or
  • DBS Multiplier is your first DBS/POSB account (online applications only).
• Early account closure fee of S$30 applies if account is closed within 6 months.

When will I receive my interest?

The interest is credited into your DBS Multiplier Account in 2 parts:

• Base interest: Credited on the last calendar day of the month
• Bonus interest (if any): Credited by the 7th working day of the following month

How is the interest calculated?

• Your full month’s eligible transactions are totalled up to determine your bonus interest rate(s).
• Bonus interest rate applies only to end-day SGD balances up to the applicable balance cap(s).
  • Interest earned for each balance tier is calculated and rounded off to the nearest 4 decimal places.
  • Each day’s interest earned is summed up and rounded off to the nearest 2 decimal places.
  • The entire month’s interest is then summed up.

You can qualify with any of the following: ​

Spend with any DBS/POSB personal credit card(s)

• Eligible credit card spend consists of retail and cash advance transactions posted within the calendar month. Reversals/credits/refunds posted will offset eligible credit card spend.
• Eligible credit card spend across main cards & supplementary cards are accorded to the main cardholder.

Find out more about DBS Credit Cards here.

• Valid for new and existing DBS/POSB home loan, for new home purchase or refinancing from another bank/HDB.​
• The monthly instalment due (both cash and CPF included) on your DBS/POSB home loan(s) are included in the eligible transaction.
• The first 3 joint borrowers will be accorded the full monthly instalment amount due as eligible transaction.

Find out more about DBS Home Loans here.

Multiplier recognises all Manulife Regular and Single Premium insurance policies distributed by DBS/POSB. No minimum premium amount required.​

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