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POSB Multiplier Account

POSB Multiplier Account Review: Most Competitive Interest Rates

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Most Competitive Interest Rates

POSB Multiplier Account Review: Most Competitive Interest Rates

Up to 3% p.a

Interest Rates


Min. Initial Deposit

S$ 3000

Min. Initial Deposit

The POSB/DBS Multiplier Account is a savings account with a base interest rate of 0.05% p.a. and a minimum average daily balance of S$3,000. It’s a good choice for financially savvy, salaried consumers who can take advantage of the bonus interest rates. You can earn up to 3% p.a. when your eligible POSB transactions, such as credit card spend and salary credit, add up to S$2,000 or more every month.

All details

  • Earn high maximum interest rates up to 3% p.a. when you credit your salary and transact in three or more categories.
  • POSB/DBS Multiplier Account also offers interest tiers based on your account balance and monthly POSB transactions.
  • No minimum amount is required across your DBS/POSB products to earn
  • Minimum balance of S$3,000 or pay the fall below fee of S$5
  • Earn bonus interest rates when your total eligible transactions add up to at least S$2,000.
  • 29-year-olds and below can earn bonus interest rates when they credit income and spend above S$500 via PayLah! to qualify for 0.30% bonus interest rates on your PayLah! retail spend.
  • No foreign currency exchange fees.
  • Transfer funds overseas at zero or lower fees
  • Open a personal / joint-alternate account online and get an S$18 Ang Bao. If you use Myinfo to prefill your application and receive an additional S$10 Ang Bao. This promotion ends on 19 February 2022.


  • Potential to earn high interest rates of up to 3% p.a. which is significantly higher than most of its competitors.
  • POSB Multiplier Account does not charge any opening, monthly, or maintenance fees.
  • Fall below fee of S$5 is waived if under 29 years old.
  • Earn higher rewards for being a DBS Bank loyalist.
  • Multiple eligible categories are available to attain higher interest rates.
  • No minimum initial amount makes starting an account quick and easy.


  • Low base interest rate of 0.05% p.a.
  • You need to engage with multiple products to earn bonus rates
  • Favors those with high balances and high monthly transactions
  • Salary or dividend crediting is required to attain bonus rates
  • 12-month limit on insurance or investments. This means when you sign up for a new insurance/investment product, you can only earn bonus interest in the first year.

General Information

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

Depositing into CIMB FastSaver


Fees and Charges

CIMB Clicks Internet Banking



S$10 (one-time fee) for application of new ATM card or

S$10 (one-time fee) for linking the CIMB FastSaver account to an existing CIMB ATM Card

Over-the-counter transaction at the branch

S$5 per counter transaction

Withdrawing from CIMB FastSaver


Fees and Charges

Internet Banking


Quick Cheque Deposit Box at the branch


Over-the-counter transaction at the branch

S$5 per counter transaction

Online account application is only available for Singaporeans, Permanent Residents, and Foreigners with valid Singapore work pass or student pass.

Singaporean/Permanent Resident

  • Copy of NRIC (front and back)
  • Proof of residential address, such as utility bill, telco bill, or bank statement


  • Valid Passport
  •  Employment Pass
  • Proof of residential address, such as local utility bill, letter of employment, or bank statement

You can view the full required documents here.

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 POSB/DBS Multiplier Account Compare With Other Saving Accounts in Singapore?

Bank Name

Interest Rate

Minimum Initial Deposit

Minimum Balance

POSB/DBS Multiplier Account

0.05% base interest rate p.a.


3% max. interest rate p.a.



Bank of China Smart Saver Account

0.20% p.a. prevailing base interest rate


Up to 3% maximum interest rate p.a.



OCBC 360 Account

0.05% base interest rate p.a.


2.38% max. interest rate p.a.



UOB One Account

0.05% base interest rate p.a.


2.50% max. interest rate p.a.



Standard Chartered e$aver Savings Account

0.05% base interest rate p.a.


0.50% max. interest rate p.a.



Maybank SaveUp Programme

0.19% base interest rate p.a.


3% max. interest rate p.a.




The POSB/DBS Multiplier Account has one of the most competitive interest rates in the market. It’s a great option for mid-to-high income adults who are closely engaged with DBS financial products. If you meet the eligibility transactions, you can earn the highest potential rate of 3% p.a.

The Multiplier Account is similar to Maybank SaveUp Programme in such a way that consumers are rewarded for engaging with the bank’s financial products, such as credit cards, investments, insurance, and loans. However, Maybank SaveUp Programme only requires salary crediting plus two banking products to earn the 3% p.a. bonus rate.

That said, POSB/DBS Multiplier Account is more beneficial for high earners with large savings since the bonus interest rates take into account the monthly transaction amount.

POSB/DBS Multiplier Account – Our Verdict

Boasting a maximum interest rate of 3% p.a., the POSB/DBS Multiplier Account is an excellent option for financially-savvy consumers with a regular paycheck and/or dividends. If you’re an existing POSB/DBS customer and are capable of engaging in several financial products, you can grow your savings fast.

Say, for example, you can credit a monthly salary of S$3,500. On top of that, POSB/DBS credit card spend, insurance, or home loan financing count as eligible transactions. Spending on these categories will help you unlock the bonus interest rates.

Lastly, interest rates increase as your monthly DBS transactions increase and you must maintain a balance of at least S$100,000 to fully maximize your earning potential.

That said, if you can’t meet the requirements or have financial products with other banks, you won’t be able to unlock higher interest rates with this account.

Final Thoughts

With POSB/DBS Multiplier Account, you can multiply your savings with its competitive interest rates. However, to earn the maximum interest rate of 3% p.a, you need to credit your salary and engage with two or more financial products. That said, it favors established consumers who are comfortable with managing their personal finances.

Key takeaways:

  • Earn high maximum interest rates up to 3% p.a. when you credit your salary and transact in three or more categories.
  • No minimum amount is required across your DBS/POSB products to earn
  • No initial deposit to open an account and maintain a minimum balance of S$3,000 or pay the fall below fee of S$5

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Option 1: Salary/Dividend crediting and transactions in credit card/home loan/insurance/investment

Salary Dividend crediting and transactions

The first criteria you need to fulfill is crediting your salary and/or dividend to your POSB/DBS Multiplier Account. Once that’s done, the monthly interest rate you’ll earn will depend on these factors:

  •  The number of transaction categories you fulfill:
    • Credit Card Spend: Your retail spend credit card transactions using any DBS or POSB card will count as an eligible transaction. This includes supplementary cards.
    • Home Loan: Take out a DBS home loan and service your monthly installments.
    • Insurance: Purchase any qualifying regular or single premium insurance policies after account opening. However, this is only valid for the first 12 consecutive months.
    • Investment: There are various ways to fulfill this category. Here are a few:
      • Make a fully settled “BUY” trade using DBS Online Equity Trading
      • Initiate new DBS Invest-Saver Plan
      • Purchase/top-up digiPortfolio
  • The total value of eligible transactions. Basically, the more you spend per month, the higher your interest rates
  • The larger your account balance, the higher interest rates you’ll earn.

There’s no minimum amount required for any category. Your total monthly eligible transactions will be based on the total monthly amounts for salary and/or dividends, credit card spend, home loan installments, insurance, and investments.

Salary Credit: Credit your monthly income via GIRO to any DBS/POSB savings accounts – this includes joint accounts.

Dividends Credit: Only selected dividends credited into your DBS/POSB bank account, DBS Wealth Management account, DBS SRS account, or CPF Investment account within the month will qualify as “income”.

The dividends must be credited from any of these sources:

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

Dividends from SGX stocks or Singapore Savings Bonds (SSBs) also count as income.

SGFinDex: Connect and share financial information from your other banks and government accounts with SGFinDex.

Only selected new regular/single premium insurance policies purchased through POSB/DBS in cash or with funds in the DBS Supplementary Retirement Scheme (SRS) account after the DBS Multiplier Account is opened will qualify as eligible transactions.

The date when you signed the policy will be considered the date of purchase.

There is a balance cap for each tier you unlock. Take a look at the table below:


DBS Multiplier account bonus interest cap

Income + PayLah / PayLah only


Income + 1 category


Income + 2 categories


Income + 3 categories



When your account balance reaches between S$50,000 and S$100,000, you can earn bonus interest on your full balance. However, you need to continue crediting your income and transacting in three different categories.

This means you need to be engaged with POSB/DBS financial products to maximize the bonus interest.

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