DBS Multiplier Account FAQ (for my own info)

The below key information is extracted from the official DBS Multiplier Account FAQ for my own reference.


Fall-below fee $5 for Average daily balance of <S$3,000


Do I have to move my existing banking transactions in other DBS/POSB accounts to the Multiplier Account to enjoy the higher interest rates?

That is not necessary. Once you open your Multiplier Account, your eligible transactions will be tracked across the different products you hold with us. 


When will I receive my interest?

Base interest - Last calendar day of each month
Preferential interest  (if any) - 7th working day of the following month


To get high interest rate :
Up to 2.08% p.a. if your Salary Credit and transactions in 1 category adds up to S$2,000 or more • Up to 3.5% p.a. if your Salary Credit and transactions in 2 or more categories adds up to S$2,000 or more


My salary is credited into a joint account. My joint account holder also credits his salary into the same joint account and we each have our own Multiplier Accounts. What’s the salary credit amount recognised for me then?
It is the total amount of eligible salary credits in that joint account.  Example: John and Mary credit their salaries (S$3000 and S$3100 respectively) into a joint DBS eMCA account. They have their own Multiplier accounts too. They are each accorded a total salary credit amount of S$6,100.


My joint account holder and I credit our dividends from Central Depository (CDP) into a joint account. We both have our own Multiplier accounts. How will the dividends be recognised? The combined total dividend credits in that joint account will be recognised. 
Example: Michael and Sally have CDP dividend credits (S$800 and S$700 respectively) in a joint DBS account. They both have their own Multiplier Accounts. They are each accorded a total dividend credit amount of S$1,500

Changes to OCBC 360 from 1 November 2018 onwards in a nutshell

Salary Crediting: First $70,000 earns an effective interest rate of 1.35% p.a.
Detailed breakdown:
- First $35,000 earns 1.2%
- Next $35,000 earns 1.5% p.a.

Credit Card Spend: First $70,000 earns an effective interest rate of 0.45% p.a.
Detailed breakdown:
- First $35,000 earns 0.3%
- Next $35,000 earns 0.6% p.a.
Subject to minimum spend of $500 per month has been met

*Step-up Bonus: First $70,000 earns an effective interest rate of 0.45% p.a.
Detailed breakdown:
- First $35,000 earns 0.3%
- Next $35,000 earns 0.6% p.a.
*Increase account average daily balance for the current month by at least S$500 compared to the previous month.


Online Payment bonus is removed

Restoran Wen Loy 古来云来包点 - Taman Bukit Indah (Near Aeon Bukit Indah)

Note: They don't sell porridge!


Wen Loy Restoran 古来云来包点, Jalan Indah 8/13, 
Taman Bukit Indah, 81200, Johor Bahru, Johor, Malaysia

How much can be withdraw from cpf at age 55

How much can be withdraw from cpf at age 55?

Upon turning 55 years old, members can withdraw their CPF savings, after setting aside their Full Retirement Sum or Basic Retirement Sum with sufficient CPF property charge/pledge in their Retirement Account.

You can find out how much you can withdraw using the
CPF Withdrawal Calculator



Some general FAQ:
Do I need to withdraw the CPF savings at age 55?
The withdrawal of your CPF savings is optional. If you do not withdraw at 55 years old, you can do so anytime later. In addition, you need not take out the full amount at one go.


What is the benefit if I do not withdraw the CPF savings at age 55
There is an additional extra interest of 1% per year will be given on the first $30,000 of your CPF balances (for members aged 55 and above) to enhance the retirement savings of CPF members. This is on top of the existing 1% extra interest on the first $60,000 of combined CPF balances

Upcoming JB mall in 2018 Quarter 3 - Capital City

Some of its major attractions, not limited to:

1. Indoor Theme Park

Measuring almost 48,774.1 square metres, this theme park will house three different concept studios that would be the centre of attraction – Movie Planet, Cartoon Planet, and Music Planet - features using the latest Augmented Reality (AR) and Virtual Reality (VR) technology.


19 Nov - 31 Dec 2018 - New school holiday deal - day pass as low as RM96 ! What’s more? Garfield Restaurant is finally ready!



2. To be continued...


Useful links:
Hardwarezone forum discussion
Offical Website
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