DBS Multiplier Top-up Promotion - Enjoy up to 3.96% Interest p.a.

Enjoy up to 2.08% p.a. on the first $50,000 of your savings in the DBS Multiplier Account, just based on your regular banking with us.

Additionally, enjoy 1.88% p.a. for 3 months when you top up your DBS Multiplier Account with fresh funds of S$1,000 to S$3,000,000. How to qualify:

1. Register your DBS Multiplier Account by 28 February 2015. Your existing account type will be “DBS Multi-Currency Autosave”, please ensure you fill in your Multiplier Account number.
2. Complete a one-time top-up by 28 February 2015.
3. Maintain top-up amount for 3 months.

So, new account holders can enjoy up to 3.96% p.a. on the first S$50,000 of your savings with DBS and up to 1.88% p.a. on new funds exceeding S$50,000 for 3 months. For existing account holders, however, you will only get to enjoy the 1.88% p.a. on the new funds exceeding S$50,000 for 3 months if you already have S$50,000 in your account before the start of the promotion.

That is still pretty good in the market right now. It is also probably better to keep your funds locked up in shorter tenures as opposed to longer tenures as interest rates are expected to go up. DBS is moving aggressively to attract deposits in a rising interest rate environment as the SOR (Swap Offer Rate) and SIBOR (Singapore Interbank Offered Rate) increases to maintain its market share. We can probably expect more promotions to come in the near future.

Please refer to the website for details and to register for the promotion.

Please also refer to our previous post here on the DBS Multiplier Account.