POSB Invest Saver

peipei1

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That blog post did not factor in other cost for like Maybank which have a Clearing Fee of 0.0325% on contract value, SGX Trading Fee of 0.0075% on contract value and GST of 7% on each item (applicable to commission and fees)...

For POEMS, getting dividends will incur 1% or minimum $1 which is capped at $50, Scrip Dividends at $10, Other Corporate Actions (except Rights issue) at $10, failed Giro at $5, hardcopy statement at $2 and GST of 7% on all the fees...

a lot of hidden costs this Maybank. I like investsaver for working quietly in the background, saving small amounts into STI and earnings 6 bi-annual dividends. Does paylah rebate works if i stop and restart the RSP, counting towards a new set up?
 

intime

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In case anyone wants to know, my maybank ke mip cost $1.11 for a $100 rsp. More ex than posb invest saver. :o
 

makav31i

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a lot of hidden costs this Maybank. I like investsaver for working quietly in the background, saving small amounts into STI and earnings 6 bi-annual dividends. Does paylah rebate works if i stop and restart the RSP, counting towards a new set up?

I have no idea...My last paylah payout is on 12 Feb for July to Dec...
 

iperiodic

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Just started the RSP. Would like to know, why the amount of investment is debited from my account on the 15th, but holdings still show zero?

Should be in now. U will receive a letter shortly to inform you of your purchase price.
 

spearhawk

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For POEMS, getting dividends will incur 1% or minimum $1 which is capped at $50, Scrip Dividends at $10, Other Corporate Actions (except Rights issue) at $10, failed Giro at $5, hardcopy statement at $2 and GST of 7% on all the fees...

Comparing say using $1000 monthly into STI ETF in POSB IS and POEMS SBP, it will be a difference of $4 monthly or $48 yearly.

Interested to know:
- Will 1% cost of dividend ever exceed this $48 difference in commission?
- Are there scrip dividend for STI ETF?
- What are the chances of other corporate actions for STI ETF?

Failed GIRO and hardcopy statement are avoidable costs which I don’t really think is a concern.
 
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MikeDirnt78

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Comparing say using $1000 monthly into STI ETF in POSB IS and POEMS SBP, it will be a difference of $4 monthly or $48 yearly.

Interested to know:
- Will 1% cost of dividend ever exceed this $48 difference in commission?
- Are there scrip dividend for STI ETF?
- What are the chances of other corporate actions for STI ETF?

Failed GIRO and hardcopy statement are avoidable costs which I don’t really think is a concern.

I used POEMS SBP about 10 years ago.

Frankly speaking, the rate was quite reasonable for monthly of $1k and 2 counters back then when there were no other options.

1) Choose the e-statement option to save fees
2) You can do the Maths. If your dividends is $2k, the cost of dividends is $20. If dividends is higher, cost is higher. Vice versa.

Now you have other options. For $1k, maybe you can consider OCBC?
 

makav31i

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Comparing say using $1000 monthly into STI ETF in POSB IS and POEMS SBP, it will be a difference of $4 monthly or $48 yearly.

Interested to know:
- Will 1% cost of dividend ever exceed this $48 difference in commission?
- Are there scrip dividend for STI ETF?
- What are the chances of other corporate actions for STI ETF?

Failed GIRO and hardcopy statement are avoidable costs which I don’t really think is a concern.

Why compare POSB IS with POEMS SBP if you intend to invest $1k in STI ETF...

I already said earlier that it is cheaper with OCBC BCIP as you only pay $5 in fees whereas you pay $6.42 with POEMS SBP...

If you factor the additional $1.42/month it is an additional $17.04/year...If you add another 1% fees for dividends on $1k investment, it will increase even more the longer you stay with POEMS SBP...

POEMS can charge all that fees previously as it was the first and there were no other alternative at that point of time...Now that you have a choice of OCBC BCIP, POSB IS and Maybank MIP, POEMS is most likely not relevant to most people who want to invest in STI ETF...
 

Shalost

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Hi

Can someone advise what is the difference with buying the ETF outright at the stock exchange vs paying for these on a monthly basis?

Isnt buying outright easier to track and cheaper?
 

makav31i

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Hi

Can someone advise what is the difference with buying the ETF outright at the stock exchange vs paying for these on a monthly basis?

Isnt buying outright easier to track and cheaper?

You buy it on your own, you need to factor in brokerage fees that you need to pay like from 0.12% with minimum of $10...If you are only buying 1 or 2 lots per month, you will be paying higher in fees...Buying it yourself is definitely not cheaper as you can't guarantee buying at the absolute bottom and selling at the highest...If you can accurately predict the price of when to buy and sell, you are on a different league than all of us...

This plan is meant for people to discipline themselves to invest regularly using dollar-cost average as most of us cannot predict on when we want to buy or that we can only invest a certain amount every month...
 

swordsly

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Hi, the Unrealized P/L shown under the market value is inclusive of the dividends given?

Are dividends distributed to shareholders? Yes. So has the profit been realised? Yes. So is it unrealised? No.

Unrealised means what it literally means; numbers on the paper that's still subjected to change depending on the current market price.
 

peipei1

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I re-read the paylah Tnc, i think the conditions just need to be
1.have online banking account
2.have monthly rsp deduction for at least 3 consecutive months
3.have paylah app
4.they will rebate you every 3 months.

My next one should be april, will keep you fellows in the loop if this 100% rebate continues for existing rsp, so far it works. :s22:
 

Clone_

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I re-read the paylah Tnc, i think the conditions just need to be
1.have online banking account
2.have monthly rsp deduction for at least 3 consecutive months
3.have paylah app
4.they will rebate you every 3 months.

My next one should be april, will keep you fellows in the loop if this 100% rebate continues for existing rsp, so far it works. :s22:

Did you have RSP and get the rebate for 2018 Q2?
From the TnC and customer service reply I think only new RSP can quality. I will try cancelling my RSP and setting up again though :s13:
 

JetStorm

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Why compare POSB IS with POEMS SBP if you intend to invest $1k in STI ETF...

I already said earlier that it is cheaper with OCBC BCIP as you only pay $5 in fees whereas you pay $6.42 with POEMS SBP...

If you factor the additional $1.42/month it is an additional $17.04/year...If you add another 1% fees for dividends on $1k investment, it will increase even more the longer you stay with POEMS SBP...

POEMS can charge all that fees previously as it was the first and there were no other alternative at that point of time...Now that you have a choice of OCBC BCIP, POSB IS and Maybank MIP, POEMS is most likely not relevant to most people who want to invest in STI ETF...
Also must take into concern selling if using ocbc bcip. $5 buy $5 sell if investing 1k.

Sent from Samsung SM-G950F using GAGT
 

makav31i

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Also must take into concern selling if using ocbc bcip. $5 buy $5 sell if investing 1k.

Sent from Samsung SM-G950F using GAGT

If you want to compare investing $1k/month between POSB IS, OCBC BCIP and POEMS SBP it is as follows:

If you only invest $1k for one month or less, it is a tie between POSB and OCBC...

POSB fees is $10 for buying and $0 when selling...

OCBC fees is $5 for buying and $5 for selling which is $10 in total...

POEMS fees is $6.42 for buying and $26.76 for selling which $33.18 in total...

If you invest from 2 months onwards, OCBC is the clear winner...

POSB fees for buying for 2 months is $20, selling is free...

OCBC fees for buying for 2 months is $10 and selling is $6...

POEMS fees for buying for 2 months is $12.84 and selling is $26.76...

POSB no selling fees, OCBC is 0.3% or minimum $5, POEMS is 0.28% selling fee with minimum $25 + Clearing Fee (0.0325%) + SGX Access Fee (0.0075%) + 7% GST...On top of that POEMS is the only one that charges 1% fees on dividends and 7% GST on the dividend fees...I thought the choice is quite clear...
 
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