For customers that credit their income into the Multiplier account and make just one more DBS transaction in an eligible category that add up to at least S$30,000, the rate on the first S$25,000 will be cut to 1.3 per cent per annum, from 2 per cent per annum.
For example, if a customer credits an income and makes two other transactions that add up to between S$5,000 and S$15,000, the interest rate applied on the first S$50,000 will be reduced to 1.8 per cent per annum, from 2.2 per cent per annum. Earlier in June, DBS's banking peers OCBC and Standard Chartered also announced plans to slash rates on their respective savings accounts from July 1.
As for its Bonus$aver account, payout of all interest on the first S$80,000 eligible deposit balance is now capped at 3 per cent per annum from July 1, down from 3.88 per cent on the first S$100,000.
Source: News Formal (newsformal.com)
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