DBS boosts financial, healthcare offerings for gig workers

They can now earn higher interest on the Multiplier account balances.

DBS has launched financial and healthcare solutions to support Singapore’s gig economy workers through the pandemic, according to an announcement.

These include improvements to the DBS Multiplier which allows gig workers to earn higher interest on their balances. It has recently reduced the minimum transaction threshold and integrated PayLah! to the transaction modes that can unlock a higher interest rate on their accounts.

The move allows customers to earn 0.5% interest on the first $10,000 of their Multiplier account balances so long as eligible transactions from their income or salary account and PayLah! exceed at least $500 per month.

The bank has also widened the definition of income to include informal sources of income, easing the qualification requirements for Multiplier accounts.

DBS has also upgraded its healthcare insurance plans, available on its new healthcare portal, for better coverage and benefits to gig workers and customers without access to traditional employment benefits or corporate insurance coverage.

In addition, clients can get exclusive member consultation rates and other holistic healthcare benefits via DBS’ My Health portal. The bank and Parkway Shenton has jointly launched a membership programme with member rates for GP consultations, health screenings and vaccinations for every new sign-up of MultiGen Protect Personal Accident Plan, a product underwritten by Chubb Insurance Singapore.

Starting 17 September, DBS will partner with Alliance Healthcare to offer more healthcare bundles, covering a suite of healthcare services across the medical provider’s 600-plus participating clinics.