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DBS has several savings accounts for you to choose from, ranging from children’s, everyday, autosave, expatriate, to more complex savings accounts such as multi-currency and the DBS Multiplier account. Explore the available DBS accounts listed above and below, for the best savings account is not necessarily the one with the highest interest rate but one that is suitable for your lifestyle and banking needs.
|DBS Savings Accounts||Interest Rates - from 1 August 2020 (per annum)||Bonus Interest Rates - Maximum (per annum)|
|DBS Savings Account||0.05%||0.05%|
|DBS Multiplier Account||0.05%||2.80%|
|DBS Multi-Currency Account||0.05%||0.05%|
|DBS eAutosave Account||0.05%||0.05%|
|DBS Current Account||0.00%||0.00%|
|DBS Expatriate eMulti-Currency Autosave Account||0.05%||0.05%|
|DBS Expatriate Autosave Account||0.05%||0.05%|
The basic DBS Savings account comes with a minimum average daily balance of S$500 if you opened your DBS Savings account before 12 September 2011, and S$1,000 if you opened your DBS Savings account after 12 September 2011 with a fall below fee of S$2 per month. If you hold other savings accounts with DBS, minimum balances and fall below fees will differ such as the DBS Multiplier Account, you need to maintain a minimum average daily balance of S$3,000, failing which a S$5 fall below fee will be charged per month.
What is the difference between the DBS Multiplier Account, DBS Remix eSavings Plus, and DBS Multi-Currency Account? In a nutshell: if you have a wide banking relationship with DBS or POSB across different financial products such as home loans, insurance, investments, and credit cards, the DBS Multiplier Account is for you. If you are a student studying abroad, or if you are a frequent flyer who shuttles between cities and handles multiple currencies, the DBS Multi-Currency Account will be suitable for you. Finally, the DBS Remix eSavings Plus Account was converted into DBS Savings Plus Account in 2018, after which the series of DBS Savings accounts were discontinued for new applications.