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DBS just introduced this new Multiplier programme, which is unique and gives a higher interest rate based on the amount of money that flows through your account (both in and out). This is illustrated in the diagram below:

This would be good for people who are high income earners as well as those with monthly housing loans and large amounts of credit card spending on DBS cards. The interest rates are not bad for an account with no lock-in period, but bear in mind there is a need to keep $10,000 as a minimum balance or there will be a $5 monthly fee.

dbsmultiplerMy current favourite no-frills account is esaver where they are offering 0.1+0.8%=0.9% for balance less than $50k. I think this Multiplier account is a nice alternative and worth checking out especially for my high income earner friends.

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