DBS takes relationship banking to new level; customers get interest even on card spend
Published on Mar 27, 2014 2:35 PM
At DBS Bank, not only are you paid interest for the amount that you bank in, you will also be paid for expenses.
Under DBS' new Multiplier Programme introduced on Thursday, the bank will pay an interest on the amount spent on its credit cards as well as monthly instalments on its home loans.
A DBS spokesman said the programme encourages customers to "leverage a more extensive banking relationship with DBS for greater rewards instead of juggling multiple banking relationships."
It estimated that based on existing cash flows, 900,000 or more of their 4.5 million customers qualify for higher interest rates under the programme.
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