DBS is offering $150 cash to all eligible customers who open a DBS Multiplier Account between 24 May to 30 June 2014 and deposit in S$50,000 of fresh funds by 31 July 2014.
The DBS Multiplier Programme is aimed at rewarding customers for consolidating their banking needs with DBS. You can earn interests up to 2.08% per year on the first S$50,000 of your savings (or S$1,040 per year) if any or all of these add up to at least S$7,500 per month:
1. Your Salary is credited to a DBS / POSB account
2. Your Credit Card spendings with DBS / POSB Credit Cards
3. Your Home Loan from DBS / POSB
4. Your Investment Dividends are credited to a DBS / POSB account
Total Monthly Cashflow Higher Interest Rate (p.a.)
S$7,500 to < S$10,000 0.98%
S$10,000 to <S$12,500 1.28%
S$12,500 to <S$15,000 1.48%
S$15,000 to <S$20,000 1.68%
S$20,000 and above 2.08%
Things to note are:
1. Fall below fee of S$5 will be charged if average daily balance falls below S$10,000
2. Early closure fees of S$30 if account is closed within 6 months
3. No lock-in period
The target customers of DBS for this product are mainly those who high credit card spenders, investment savvy folks or have home loans with DBS to fulfil the basic criteria set. As compared to the OCBC360 account which is catered more for the man in the street, this is somehow less attractive due to its tiered interest and more stringent criteria.
Please refer to the website for more details.
Update @ 5 July 2014
Receive S$150 credited to your account if you open a DBS Multiplier Account between 1 July till 8 Aug and deposit S$50,000 of fresh funds to your account by 31 Aug 2014.
Please refer to the website for more details.
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