And so I signed up for the DBS Be Your Own Boss (BYOB) offer which I blogged about here.
Starting from this month, I will be making a monthly regular savings of $3000 into the account to maximise the offer, which is only valid for 2 years.
To earn the bonus 2% interest, I have to make 5 retail transactions using DBS/POSB credit/debit cards.
But I don't have any decent card from DBS/POSB.
Well, I have the DBS Esso card, but the discount is not that great compared to using UOB ONE Card at SPC.
I also have the POSB Go! debit card. Nothing much to say about this card really. It's just a plain vanilla debit/atm card.
So the hunt for a useful DBS/POSB card is on!
Because I already have to make minimum spending to earn higher interests in my other savings accounts, I don't want another card that has hurdles to jump through.
I was all ready to simply use my Go! card to make the 5 transactions, until I came across the DBS Visa Debit card!
5% cashback with no minimum spending and no annual fees!
Awesome stuff.
But nothing comes free. To qualify for this 5% cashback, you have to make less than 3 cash withdrawals across all your DBS/POSB accounts in a month. The total value of your withdrawals also must be $400 or less. Full T&C can be found here.
Sounds easy enough, as I am already going cashless whenever possible.
If you are in a similar situation, this card might work for you as well.