POSB Savings Promo: Get up to S$1,250 Guaranteed Cash Reward + Chance to Win Singapore Airlines Suites Tickets!
This article is brought to you by POSB. All views expressed in the article are the independent opinions of Sethisfy.com. Read Sethisfy.com’s editorial policy.
Until 31st July 2024 only – that is only 9 days left if you’re reading it today (22nd July) – take part in POSB’s savings promo and get as much as S$1,250 of cash reward on top of your DBS or POSB bank account interest! Also, stand a chance to win one of five pairs of tickets to fly to Sydney in Singapore Airlines’ most luxurious Suites cabin.
Promo Details
To qualify for this promo, you need to complete just 3 steps:
- Register
- Save
- Spend
Step 1: Register
Make sure to register your interest by 31st July 2024 latest with this link. All you need is to input your mobile number and email address registered with POSB/DBS followed by the POSB/DBS account number (with dashes) you wish to enrol.
Finally, choose from the 3 top-up amounts you wish to commit.
Step 2: Save
There are 3 tiers to this promo and you are given cash rewards depending on the amount you choose to top up. Remember that these cash bonuses are on top of your POSB/DBS account’s usual interest rate!
The fresh funds need to be deposited by 31st July 2024 and have to be held from 1st August 2024 to 31st December 2024. I have calculated the effective bonus interest the cash bonuses represent below:
| Top-up Amount | Cash Bonus | Effective Bonus Interest |
| S$20,000 | S$125 | 1.5% p.a. |
| S$50,000 | S$470 | 2.25% p.a. |
| S$100,000 | S$1,250 | 3% p.a. |
Depending on the amount of eligible transactions you perform, DBS Multiplier can give up to 4.1% p.a. interest. This promo works with DBS Multiplier so your maximum yield can be as high as 7.1% p.a. (more on this later)!
Step 3: Spend
The last step is to spend at least S$600 per month on your POSB/DBS Debit card from August to December 2024. While most debit cards don’t offer much in terms of rewards compared to credit cards, there are POSB/DBS debit cards that give decent cashback.
For instance, DBS Visa Debit Card gives 4% on online food delivery, 3% on local transport, 2% on foreign currency spend and no foreign exchange fee on 11 popular foreign currencies such as JPY, AUD, USD and more.
Total Possible Yield
Given that DBS Multiplier can give as much as 4.1% p.a. interest on your first S$100,000 of savings, starting a new DBS Multiplier account and topping up S$100,000 under this promo can get you a total yield of up to 7.1% p.a!
Of course, that requires S$100,000 and meeting the account’s S$30,000 eligible transactions criteria, as well as clocking DBS Multiplier’s different category requirements. It’s a really fantastic rate for those who are able to meet the requirements.
For those who can only meet a lower amount of eligible transactions for DBS Multiplier, even just S$500 of eligible transactions per month would get you 2.10% p.a. interest as long as you credit your income and complete just two requirements (easy categories would be credit card spend and investment). Together with the additional cash rewards, you can get as much as 5.1% p.a. interest on S$100,000 of savings!
Chance to win two tickets to Sydney on Suites!
To sweeten the promo, you get a chance to win a pair of tickets to Sydney! It’s not just going to be Business Class or even “normal” First Class – 5 lucky winners and their companions are going in Singapore Airlines’ most luxurious Suites cabin. I had the chance to experience it myself earlier this year and it’s definitely an experience you want to try at least once.
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Disclaimer: The information and opinions contained in this article has been obtained from sources believed to be reliable, but DBS makes no representation or warranty as to its adequacy, completeness, accuracy or timeliness for any particular purpose.
This article is meant for information only and should not be relied upon as financial advice. Before making any decision to buy, sell or hold any investment or insurance product, you should seek advice from a financial adviser regarding its suitability.
It is provided in Singapore by DBS Bank Ltd (Company Registration. No.: 196800306E), an Exempt Financial Adviser as defined in the Financial Advisers Act and regulated by the Monetary Authority of Singapore.
T&Cs apply. SGD Deposits are insured up to S$100K by SDIC.
Seth Wee was a licensed financial adviser representative from 2009 to 2025, with over 16 years of experience in Singapore’s financial advisory industry.
He started Sethisfy.com in 2019 to share practical insights on credit cards, banking products, and miles strategies, helping readers identify financial products that deliver the best value. Seth has been featured in CNA, Channel 8, Today, and a host of other publications. In 2025, he was also part of a panel at CPF’s Ready For Life festival.
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