How to open a DBS Multiplier joint account
To earn higher bonus interest together, couples will first need to set up the proper accounts. Here are the steps you need to follow:
Step 1: Open both DBS Multiplier accounts individually
Both of you will need to first have individual DBS Multiplier accounts. You may apply for a new DBS Multiplier Account as a new customer, or request for your existing DBS Autosave or the DBS Multi Currency Account to be converted to a Multiplier account.
Step 2: Apply for joint account
Once both of you are in possession of a DBS Multiplier Account, apply for a joint-alternate My Account. You can open an account online, no bank branch visits needed.
Step 3: Credit salary into joint account
Afterwards, arrange for your salary to be credited to your newly opened joint account. As explained earlier, you only need one party to credit their salary, although combining both salaries will help you qualify for higher bonus interest.
Step 4: Credit your dividends into joint account
If you have any active investments that pay dividends, be sure to credit them into your joint account too. Doing so will increase your total eligible transactions for bonus interest.
Step 5: Transfer money to your DBS Multiplier Account
Don’t forget that you can access a higher tier of bonus interest if your account balance crosses the S$50,000 threshold, so if you have spare cash, consider topping up your DBS Multiplier Account to help you earn higher bonus interest faster.
The bottom line
Combining a joint account with the DBS Multiplier Account is, quite frankly, a genius way to effortlessly earn higher interest. You and your partner can benefit from each other’s expenses, while also building trust and reliance as you pursue common savings goals.
So if you’re warming up to take the next step with a beloved someone, why not set the stage with a joint account first? The bonus interest you’ll help each other earn is a nice way to pledge your support and commitment to each other.
DBS/POSB Credit Card Welcome Gift: Receive S$250 cashback or up to 60,000 miles when you apply for select DBS credit cards and fulfil the relevant promotion criteria. T&Cs apply.
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