Multiplier is simpler than ever for all!

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

Jack has a total eligible transaction of S$3,800 and gets a bonus interest of:

• 2.10% p.a. for the first S$100,000 and
• Base interest rate for balance above S$100,000​

To unlock higher interest rates, Jack can transact in one more category. By purchasing an insurance, Jack transacts in 3 categories and his interest rate increases from 2.10% p.a. to 2.40% p.a.​

Meet Rachel and Bryan. They are married with two children and have a personal Multiplier Account each. Rachel and Bryan credit their salaries of S$6,000 and S$5,000 respectively into a joint account to qualify for higher eligible transaction tiers on their individual Multiplier Account.

They are also joint borrowers of DBS/POSB Home Loan and spilt the S$3,000 monthly instalment equally. Both are accorded the full monthly instalment amount of S$3,000 as an eligible transaction for their individual Multiplier Account.

1. Rachel

Rachel has a total eligible transaction of S$19,000 and gets a bonus interest of:

• 2.20% p.a. for the first S$100,000 and
• Base interest for balances above S$100,000

2. Bryan

Like Rachel, Bryan benefits from the combined credited salaries. He is accorded the full monthly instalment amount of S$3,000 as a joint borrower of DBS/POSB Home Loan and bought an insurance policy recently.

Bryan has a total eligible transaction of S$18,000 and gets a bonus interest of:

• 2.50% p.a. for the first S$100,000 and
• Base interest for balances above S$100,000

William receives S$755 monthly allowance credited to his DBS/POSB savings account and has DBS PayLah! Retail Spend of S$100.

With a total eligible transaction of S$855, he qualifies for interest of

• 1.80% p.a. for the first S$50,000 and
• Base interest rate for balance above S$50,000

To earn higher bonus interest, William can choose to take up an investment product which means he will fulfil 2 categories. His bonus interest will then increase from 1.80% p.a. to 2.10% p.a. His balance cap also increases from S$50,000 to S$100,000, allowing him to earn bonus interest on a higher amount.​

This is Andrea. She’s 21 years old, full-time student and spends S$100 through DBS PayLah!.

With a total eligible transaction of S$100, she qualifies for interest of

• 1.50% p.a. for the first S$50,000 and
• Base interest rate for balance above S$50,000.

Andrea can increase her interest rate from 1.50% p.a. to 1.80% p.a. when she credits her income through internships, part-time work, adding up to S$500 or more a month.

Philip is retired and receives his CPF LIFE monthly payouts through DBS. He also transacts his monthly expenses using PayLah!.

With a total eligible transaction of S$900, he qualifies for interest of

• 1.80% p.a. for the first S$50,000 in his Multiplier Account and
• Base interest rate for balance above S$50,000.

To unlock higher interest rates, Philip can transact in one more category. Using Vickers, he invests S$1,000. Philip now transacts in 2 categories and his interest rate increases from 1.80% p.a. to 2.10% p.a. His balance cap also increases from S$50,000 to S$100,000.​

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 digibank app

   

   Download digibank app

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.

When do I get my interest?

Your DBS Multiplier Account pays you interest in two parts:

1. Base interest: This gets added to your account on the last day of each month.
2. Bonus interest: If you've earned any bonus interest, this gets added to your account by the 7th working day of the next month.

How is interest calculated?

Here's how we work out your interest:

• We add up all the eligible transactions for the full month. This total helps us figure out your bonus interest rate.
• The bonus interest rate applies only to your end-of-day SGD balance. The balance cap is the maximum amount of money that can earn bonus interest.
• We calculate the interest earned for each balance level. Then we round this off to the nearest four decimal places.
• We add up each day's interest earned and round this off to the nearest two decimal places.
• Finally, we add up the entire month's interest.

You can qualify with any of the following:

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.

Spend with PayLah!

Eligible PayLah! transactions include:

• Payments to merchants through PayLah! in-app checkout, web checkout, express checkout
• Scan & Pay transactions
• Payments to billing organisations
• Donations to charitable organisations

Download PayLah! now

• 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, Flexible and Single Premium insurance policies distributed by DBS/POSB. No minimum premium amount required.​

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