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Best For Financially Savvy, Salaried DBS Consumers

DBS Multiplier Savings Account

0.05% p.a.

Interest Rates

S$ 0

Min. Initial Deposit

S$ 3000

Min. Avg Daily Balance

Extra Cash Gift

Sign Up Promo

DBS Multiplier is a savings deposit account that offers a base interest rate of 0.05% p.a. With this account, you can multiply your savings with competitive interest rates as long as you meet the eligible transactions. This means engaging with multiple DBS products to earn the maximum bonus rates available.

All details

  • Earn up to 3% p.a. when you credit your income and fulfill any eligible transaction per month.
  • No minimum amount required
  • Attain higher DBS Multiplier interest rates by fulfilling one of the three options and categories suited to your spending habits
  • DBS Multiplier Account is a multi-currency account with access to 12 foreign currencies
  • No foreign exchange fees
  • 29-year-olds and below can earn bonus interest rates of up to 0.30% by crediting their income and spending above S$500 via PayLah! 
  • Open a deposit account online and get a S$15 Cash Gift.
  • Open the account using MyInfo and receive an additional S$5 Cash Gift.
  • Stand a chance to win a Destination-Theme Sky Dining Experience for two.

The promotion period ends on 31 December 2021.


  • You can potentially earn up to 3% interest p.a. which is significantly higher than its base interest rate
  • Flexible options with more categories, including digiPortfolio so you can multiply your money easily
  • No opening, monthly, and maintenance fees. However, they charge a S$5 fall below monthly fee.
  • No minimum initial amount so you can easily open an account anytime.
  • Quick and easy application.


  • Low base interest rate at 0.05%
  • Young adults seeking starter accounts may find the criteria for earning a high bonus interest rate intimidating.
  • Signing up for their insurance/investment product will only earn you bonus interest in the first year. It will no longer be counted in the succeeding year.

General Information

  • Minimum Age: At least 18 years old
  • Nationality: Singaporean, Permanent Resident, or Foreigner with a valid visa

Singaporeans and Permanent Residents:

  • Copy of your NRIC/passport (front and back)
  •  Proof of residential address (if it is different from the one in your NRIC)


  • Valid passport
  • Proof of employment/study or visit pass
  • Proof of residences, such as utility bills or bank statements

Disclaimer: This information may differ from what you see when you visit other financial service websites or the product’s official site, but Loan Advisor continues to keep every detail updated and accurate. This site may be compensated through third-party advertisers. However, the results of our comparison tools which are not marked as sponsored will always be based on objective analysis.

How Does DBS Multiplier Account Compare with Other Saving Accounts in Singapore? 


Bank Name

Interest Rate

Minimum Deposit

Minimum Balance

DBS Multiplier Account

0.05% base interest rate p.a.


3% max. interest rate p.a.



CIMB FastSaver Savings Account

0.30% p.a.



Standard Chartered e$aver Savings Account

0.05% base interest rate p.a.


0.50% max. interest rate p.a.



OCBC 360 Account

0.05% base interest rate p.a.


2.38% max. interest rate p.a[R1] .



Maybank SaveUp Programme

0.1875% base interest rate p.a.


3.0625% max. interest rate p.a.




DBS Multiplier Account offers competitive interest rates. In fact, if you’re able to meet all the account criteria, you can earn the maximum bonus interest rate of 3% – higher than almost any of its competitors.

The other savings account that comes close would be the Maybank SaveUp Programme. However, with Maybank SaveUp, you’ll have to make a minimum deposit of S$500, whereas a DBS Multiplier Account doesn’t require a minimum deposit amount.

DBS Multiplier Savings Account – Our Verdict

Although the eligibility requirements for DBS Multiplier Account holders are favorable for young adults, this account requires salary or dividend crediting to earn higher interest rates. That said, the DBS Multiplier Account is best for financially savvy, salaried consumers.

If you are capable of investing in several financial products with DBS, such as DBS Online Equity Trading, and maintaining eligible monthly transactions, you can grow your savings fast. By simply crediting your income and fulfilling one transaction category, you can earn higher interest than the base interest.

Final Thoughts

Key Takeaways:

  • DBS Multiplier Savings Account is a savings deposit account that offers a base interest rate of 0.05% p.a.
  • You can earn up to 3% p.a. on your savings if you credit your income and make eligible transactions.
  • Grow your savings with higher interest rates by fulfilling one of the three options and categories based on your spending habits
  • DBS Multiplier Account has no minimum amount requirement across DBS/POSB products to earn high interest. 

What makes DBS Multiplier Savings Account stand out is that consumers who meet all eligibility criteria will earn up to 3% p.a. – higher than the rates offered by basic savings accounts. Additionally, it has no minimum initial deposit required which makes it easy to open. That said, DBS Multiplier Savings Account is a good option for individuals who engage with DBS financial products.

If you need extra cash to fulfill any of the eligible transactions, you may want to take out a personal loan. Loan Advisor will help you find the best loan tenure, interest rates, and terms that will suit your needs. Request a quote today from Singapore’s top licensed money lenders to choose the best loan plan in just a few hours.


The DBS Multiplier Account is a high interest savings account that rewards you with a 0.05% base interest rate. You can earn higher interest when you credit your income (salary and/or dividends) and engage in any of the following categories: credit card spend, home loan installment, insurance, or investments.

Once you have successfully switched to DBS Multiplier Account, any cashback not yet credited will be forfeited. Additionally, if you have an existing insurance or invest-saver plan, it will not be recognized as eligible transactions under the DBS Multiplier Account.

Anyone can earn higher interest on their DBS Multiplier Account balances. Consider these options:

Option One: Credit your monthly salary / dividend / connect with SGFinDex and transact in one of the following categories:

  • Credit card spend
  • Home loan installment
  • Insurance Investments

Total eligible transactions must add up to S$2,000 or more.

Option Two: Credit your salary / dividend / connect SGFinDex and transact with PayLah! Minimum retail spend of S$500.

Option Three: Use PayLah! for retail spend. This option is great for 29 years old and below.

What if I don’t qualify for any of the options above? No worries! You’ll still enjoy the prevailing base rate of 0.05% in your DBS Multiplier Account.

1. Eligible Income

Salary Credit: Your salary must be credited via GIRO. IT can be credited to any of your DBS/POSB savings accounts.

Dividends: The dividends must be credited into your DBS/POSB bank account, DBS Wealth Management account. DBS Supplementary Retirement Scheme (SRS) account, or CPF Investment Account. It can come from any of the following

      • Central Depository Pte Ltd (CDP)
      • DBS Vickers Securities
      • DBS Online Equity Trading
      • DBS Unit Trusts
      • DBS Online Funds Investing
      • DBS Invest-Saver

2. Credit card spend with any DBS/POSB personal credit cards

3. Home loan installments

4. Insurance policies that are purchased via DBS/POSB after you have opened a DBS Multiplier Account.

New investments purchased through DBS/POSB after opening a DBS Multiplier Account.

    • Unit Trust lump-sum
    • DBS Invest-Saver
    • digiPortfolio
    • Online Equity Trading
    • Bonds & Structured Products

There’s no minimum amount required for any category. DBS Bank will sum up the monthly amounts for all the eligible transactions.

You can apply for a DBS Multiplier Savings Account online via the DBS website or digibank.

To set up a new DBS Multiplier Account via digibank:

  1. Login to digibank
  2. Go to Apply > Deposit Accounts > DBS Multiplier Account > Instant Apply
  3. Or you can go to Request > Opt-in Bank & Earn Programme

To convert your existing personal DBS Autosave or DBS Multi-Currency Account to DBS Multiplier Account via digibank:

  1. Login to digibank
  2. Go to Request > More Requests > Request for DBS Autosave Account Conversion

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