First-of-its-kind programme enables customers to enjoy up to 2.08% on their savings

SINGAPORE, 27 March 2014 – DBS introduces a new programme, DBS Multiplier Programme, to establish a stronger and longer term relationship with emerging affluent customers. The first-of-its-kind programme is part of the bank’s strategy to become a trusted banking partner to the emerging affluent segment even in the early stages of their wealth accumulation.
According to a recent DBS survey of over 1,000 respondents, emerging affluent between the ages of 30-59, and with a monthly income of $5,000 and above, allocate around 29% of their income to savings, 30% to loans and investments, and 25% to expenses.
To reward emerging affluent customers for consolidating their finances with DBS, instead of using account balances, the bank will recognise four key streams of cash flow in determining the interest rate on saving balances – salary, investment dividends from CDP, mortgage instalment and credit card spend. The total cash flow can be any combination of salary credit, credit card spend, investment dividend or mortgage instalments.

Customers whose cash flows total more than SGD 7,500 each month will benefit from the DBS Multiplier Programme, enjoying higher interest rates that range from 0.98% p.a. to 2.08% p.a.. (Refer to Appendix A for illustration)

More than 27% of working residents in Singapore have a gross monthly income of over SGD 5,000[1] and spend around SGD 1,500[2] on credit cards each month. Along with an average monthly mortgage repayment of SGD 1,150 for a 4-room HDB flat[3], this group would be eligible for the tiered interest rate of 0.98%.

Ms Sharon Tan, Senior Vice President of Consumer Banking Group Customer Management, DBS Bank, said, “We want to help our customers maximise their funds and grow their wealth in a smarter way. In a mature banking sector such as Singapore, it is important to adopt a holistic approach, innovate and deliver products or services that place customers at the heart of the banking experience. By consolidating their cash flows with us, customers can better review their monthly finances and benefit from the stronger banking relationship.”

The DBS Multiplier Programme encourages customers to leverage a more extensive banking relationship with DBS for greater rewards instead of juggling multiple banking relationships. Customers can also enjoy greater convenience and have a clearer understanding of their finances through such consolidation. Based on existing cash flows, hundreds of thousands of customers already qualify for higher interest rates under the DBS Multiplier Programme. More than 1,000 customers signed up for the programme during the two-month pilot at the start of the year.

Said Tan, “The initial response to the programme has been very encouraging and there is an increase in customers’ enquiries on products associated with the DBS Multiplier Programme such as home loans and credit cards.”

The interest rates for the DBS Multiplier Programme ranges from 0.98% p.a. to 2.08% p.a. for eligible cash flows starting from SGD 7,500 to over SGD 20,000.  According to MAS’ Monthly Statistical Bulletin, the average interest rate for banks’ savings deposits in February is 0.12%. Customers will earn higher interest rates on the first SGD 50,000 in their DBS Multiplier Programme account, with no lock-in period. Remaining balances above SGD 50,000 will be subjected to prevailing interest rates.

Customers can sign up for the DBS Multiplier Programme via DBS iBanking, by making an online submission or at all DBS/POSB branches. For more information on the DBS Multiplier Programme and to access the DBS Multiplier interest calculator, please visit: .
[1] Ministry of Manpower (2013). “Comprehensive Labour Force Survey”, ( )
[2] Visa Singapore (2013). “Visa Affluent Study”, ( )
[3] Average monthly instalment for a 25-year loan at an interest rate of 2.5% based on indicative prices for HDB 4-room Build-to-order launches in January 2014, ($file/about1.htm )
About DBS
DBS - Living, Breathing Asia
DBS is a leading financial services group in Asia, with over 250 branches across 17 markets. Headquartered and listed in Singapore, DBS has a growing presence in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's capital position, as well as "AA-" and "Aa1" credit ratings, is among the highest in Asia-Pacific. DBS has been recognised for its leadership in the region, having been named “Asia’s Best Bank” by The Banker, a member of the Financial Times group, and “Best Bank in Asia-Pacific” by Global Finance. The bank has also been named “Safest Bank in Asia” by Global Finance for five consecutive years from 2009 to 2013.
DBS provides a full range of services in consumer, SME and corporate banking activities across Asia. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. These market insights and regional connectivity have helped to drive the bank’s growth as it sets out to be the Asian bank of choice. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 19,000 staff, representing over 30 nationalities.  For more information, please visit .

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