DBS goes beyond the norm with a new Lifestyle Space and its enhanced DBS Multiplier Account

Touted as the leading financial services group in Asia, DBS Bank goes beyond meeting banking needs of consumers. It has transformed its Plaza Singapura outlet into a Lifestyle Space, integrated with highly digital experience to meet banking and lifestyle needs of the “Tech” generation. Featured together at its official launch last week on Nov 1st, was its enhanced DBS Multiplier account catered to allow more young adults attain higher interest rates.

The opening event was lined up with light-hearted and groovy music performances and dance, followed by a tour to explore the new facilities within the compound. 

Kicking off the launch with song performance by HubbaBubbas! For a start, together with SCAPE, DBS is organising a talent development showcase to groom budding singing talents, culminating in the first-ever National Youth Music Awards competition in 2018.

Adrenaline-pumping time with the percussionists!

An impressive street dance that got us pumped up even more.

At the Plaza Singapura DBS outlet, you can say goodbye to the norm, where all you see is a line of people waiting at the ATMs or in front of the counters to complete their banking transactions. This outlet has an open layout, furnished with long tables and chairs for anyone to hang around and relax for a bit before or after doing their banking transactions. As you walk into the bank, you will be greeted by the aroma of freshly brewed coffee by bettrBarista! What made this cafĂ© more appealing is its social initiative. Each cup of coffee goes towards helping youth-in-need attain higher education – in this case, through coffee academy.

In the future, there are plans that DBS will hold monthly latte art and coffee appreciation classes with Bettr Barista, financial talks by NAV- Your Financial GPS and artwork exhibitions by students. 

Some of the innovative facilities you can expect from this hip lifestyle space include an industry-first VR (Virtual Reality) Corner for retirement planning, Cash Services Machines that serve both deposits and withdrawals, round-the-clock Video Teller Machines (VTMs) offering customers non-cash banking services and Pepper – the humanoid robot who can guide you on how to use the VTMs!

Cash machines servicing both deposits and withdrawals. (Don’t you feel that you’ve been transported to London? We instantly fell in love with the interior design.)

That’s Pepper, the humanoid robot who will guide you on how to use the VTM, that is positioned in the private room behind the wall.

The VTM assist you in non-cash transactions such as replacement of iBanking tokens, cards, etc. You can even call on screen, an operator who will be able to attend to your enquiries real time. This VTM at Plaza Singapura branch is available from 8am to 12am. There are currently 12 VTMs in 12 locations around Singapore and the bank intends to install more than 20 machines by end of 2017.

Opening address for the new launch and introduction of DBS enhanced Multiplier account.
Targeting young adults, the DBS Multiplier account offers higher interest rates with lower transaction threshold, along with no minimum salary crediting amount and no minimum credit card spend. This is a perfect solution to save some time managing your finances to achieve your financial goals. Customers can enjoy higher interest rates on their account balances when they credit their salaries with DBS/POSB and transact in one or more of the following categories: credit card spend, home loan instalment, insurance or investments.

To enjoy higher rates, customers just need to have their total eligible monthly transactions add up to SGD2,000 or more:
  •          Between 1.55% p.a. to 2.08% p.a. if their salary credit and transaction in one category add up to SGD2,000 or more
  •          Between 1.8% p.a. to 3.5% p.a. if their salary credit and transactions in two or more categories add up to SGD2,000 or more

DBS Multiplier Account interest rates

*Total monthly transactions consist of salary crediting and one or more of these categories: credit card spend, home loan instalment, insurance or investments

Here are two scenarios:
·        A university fresh graduate with a net salary of SGD2,700 and a credit card spend of SGD200 monthly will enjoy interest rates of 1.85% p.a. on his/her DBS Multiplier Account balance
·        A young working adult who was been in the workforce for a few years with a net salary of SGD4,600 and a credit card spend of SGD450 monthly will earn 1.90% p.a. on his/her DBS Multiplier Account balance

Eligible transactions are detected at the customer level, across a customer’s various product holdings with DBS/POSB so customers only need to deposit their balances in a DBS Multiplier Account, while transacting with their usual DBS/POSB accounts, to enjoy the higher interest rates.

Finally, young adults can look for quality content of relevance to everyday living on DBS’s new platform TwentyThirty (www.twentyxthirty.com). TwentyThirty cover a variety of topics, such as getting through adulting milestones and financial literacy, to career advice and more. The aim of the site is to engage young adults in their 20s and 30s in conversations about larger “life” issues and provide them with valuable information to address to their situations.

For those who are keen, you can apply for the enhanced DBS Multiplier account at www.dbs.com.sg/multi.

Post written by Magdalene Tan. Follow her on Instagram, http://instagram.com/chantalmag