If you are looking at a significant figure from the dividends, the amount can actually bump you both into the tier above just as salary crediting does. They say that two are better than one because they will get more for their effort or investment. need to add up to at least S$2,000. People who earn at least S$2,500 a month and have some credit card expenditures (but is below the S$500 per month required by competing products). Also, if you liked this article, please feel free to SHARE or RETWEET, Filed Under: Finance Tagged With: dbs multiplier account, Your email address will not be published. As such, both individual DBS multiplier accounts will recognize a salary of $6,000 for each one of you. Minimum balance is S$3,000. Once the salaries have been credited to the account you both share, the joint account, each one has access to the other person’s salary. Notify me of follow-up comments by email. People who invest in equities through online trading and switch between cash and stocks regularly. In addition, it is advisable to set goals to help you achieve that vision, and then find financial services that can assist in the fulfilment of it. That couldn’t be truer with the DBS multiplier account, a joint account designed with couples in mind. Citi MaxiGain Savings Account – Is It Worth Signing Up For? As a user of the DBS Multiplier Account myself, I really like the fact that DBS continues to improve their account features and evolves with us across our different life stages. If you spend at least S$500 in credit cards, make bill payments (thru GIRO) of at least S$300 and earn a salary of at least S3,000 but not overly high like S$30,000 per month; the, Same salary and card spend or bill payment profile such as the above and you take out a housing loan – again the. In this site, I share with you my top travel itineraries. How Heartland Boy Maximises His DBS Multiplier Account Interest Rate.
To take advantage of this, you can do one of two things: Fifth step: Make transfers from your joint account to the individual DBS multiplier account. Post was not sent - check your email addresses! This means that you and your partner need to change the account listed for direct crediting in your CDP account and replace it with the joint account. First step: Both of you open an individual DBS multiplier account. This means that even if you purchase the minimum investment amount in a unit trust, you can qualify in this category for the purpose of earning higher interest for the DBS Multiplier. Where the DBS Multiplier Account May Not Be Ideal: If you spend at least S$500 in credit cards, make bill payments (thru GIRO) of at least S$300 and earn a salary of at least S3,000 but not overly high like S$30,000 per month; the Maybank Saveup Accoun t offers a higher interest at 3% pa whereas you’ll max out somewhere between 2%pa to 2.3% pa with the DBS Multiplier Acount. That being said, the DBS Multiplier is not necessarily the highest earning among the contingent high interest savings accounts out there. As such, if you are looking to earn as much interest as possible, you will need to make this transfer earlier on in the month. Working with goals in mind is important because it helps you take charge of your life, helps in creating the future that you hope for, allows you to clarify your values, and also enables you to measure the progress that you are making in the attainment of the vision you have for yourselves.
Travel Blog, Itineraries & Guides, Hotel Reviews. However, if both of you route your dividends to the joint account, then you will both register investment transactions in the four months. It is very easy to open this account since one is able to open an account online.