DBS has launched a new promotion, the New-to-DBS Multiplier Account, which offers new customers the opportunity to earn higher interest rates on their savings. With this promotion, customers can earn up to 2.5% p.a. on their first $100,000 when they credit their salary and transact in just one category, such as DBS/POSB Credit Card/PayLah! Retail Spend, Home Loan Instalment, Insurance, or Investment. This promotional rate gives customers an additional 0.3% p.a. and doubles the balance eligible for higher interest from $50,000 to $100,000.
To qualify for the DBS New-to-Multiplier promotion, customers need to open a new DBS Multiplier Account, deposit fresh funds, and maintain a daily balance of at least $100,000 during the promotion period. They also need to credit their salary via GIRO and make transactions in at least one eligible category. The total eligible monthly transactions will determine which promotional tier the customer falls under, with higher transactions resulting in higher interest rates.
In addition to the interest promotion, DBS is also offering up to $680 in cash rewards for new and existing DBS Multiplier customers. Customers can receive a $300 cash reward for crediting their salary for three consecutive months, and up to $380 in cash rewards when they sign up for a DBS yuu Card with promo code ‘DBSYUU’. The DBS yuu Card also offers up to 18% cash rebates on daily spend at participating merchants.
By combining the boosted interest from the New-to-DBS Multiplier Account promotion with the additional cash rewards, customers could increase the returns on their savings within just four months. For example, if a customer opens a new DBS Multiplier account and maintains a balance of $100,000, they could earn up to 2.5% p.a. on their first $100,000, resulting in approximately $828 in interest over the four-month period. With the additional cash rewards, they could receive up to $1,508 in interest payout and combined rewards.
Overall, the DBS New-to-DBS Multiplier Account promotion offers customers a chance to earn higher interest rates on their savings and receive cash rewards for using DBS products and services. By taking advantage of this promotion, customers can make their money work harder and achieve their financial goals.