Understanding DBS Multiplier Account's Preferential Interest
Find out how the interest is calculated and credited for DBS Multiplier Account.
- Preferential interest is credited by the 7th working day of the following month, if criteria is met.
- If your transactions do not meet the criteria, the SGD balance in your DBS Multiplier Account will be accorded the prevailing interest rate for that month. Learn More.
How is the interest calculated?
- The preferential interest rate is applied to the end-day SGD balance in your DBS Multiplier Account.
- 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.
How is the interest credited?Multiplier interest is credited in 2 parts:
|Interest Type||Interest Rate||Credit Date||Example: 1.50% p.a.|
|Base interest||0.05% p.a.||Last calendar day of the month||0.05% p.a.|
|Preferential interest (if any)||Higher interest rate - Base interest rate||7th working day of the following month||1.50% - 0.05% = 1.45% p.a.|
How to check on your interest credits?
- Learn more about your DBS Multiplier Account.
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