DBS changed its Mutiplier plan

whizzard

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Have an idea but not sure whether it will work.

Currently I already have 3 categories for the multiplier but have problems getting the 30k to qualify for the 3.8% interest.

I was thinking of just buy 12k worth of shares and then sell it immediately. Will the total transaction be 24k?

This would allow the 100k I have to earn an average of 3.65% pa. What do you guys think?

Only the buy transaction value will be recognised. The sell transaction value is not recognised.
 

Jyvonchi

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Have an idea but not sure whether it will work.

Currently I already have 3 categories for the multiplier but have problems getting the 30k transaction to qualify for the 3.8% interest.

I was thinking of just buy 12k worth of shares and then sell it immediately. Will the total transaction be 24k?

This would allow the 100k I have to earn an average of 3.65% pa. What do you guys think?

You have to purchase 24k worth of shares as sell transaction not eligible
 

deathman91

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Have an idea but not sure whether it will work.

Currently I already have 3 components for the multiplier but have problems getting the 30k to qualify for the 3.8% interest.

I was thinking of just buy and sell shares once a month so that the total gets to 30k. This would allow the 100k I have to earn about 3.6% pa. What do you guys think?

I cheapest is to buy using dbs vickers cash upfront.
Cash upfront : 0.12% (buy), 0.28% (sell)

After factoring the below fees
Clearing Fee (CDP imposed): 0.0325%
SGX Trading Fee :0.0075%
GST: 7%

The effective trading fee is
Cash upfront : 0.1712% (buy), 0.3424% (sell)

To keep things simple, I will assume you hit the min fee on the sell leg. Which is $25 or $28
So for every $1000 trade you will incur $5.14 in fees. e.g. if you need to make another 25k transaction in order to qualify for the >30k tier, you will incur $5.14 * 25 = $128.40 in fees.


Lets assume you are now in the <5k tier bracket and already have 3 categories.
The first 50k will see an increase interest yield of 1.5%, which is about $62.50.
The next 50k will see an increase interest yield of 1.6%, which is about $66.67.

Net = 62.50 + 66.67 - 128.40 = $0.77 :s13:
 
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weng0202

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So it's not worth it. haha, didn't read about that only settle buy contracts are counted. Then not much point in risking it.
 

highsulphur

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Hi there, is dbs multiplier account better than ocbc 360?

Depends if you hit those conditions. It's better for me. I started with Ocbc for such high interest saving account (they were the pioneer) but it went downhill pretty fast for them...
 

redefine_style

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Depends if you hit those conditions. It's better for me. I started with Ocbc for such high interest saving account (they were the pioneer) but it went downhill pretty fast for them...

How much roughly is the interest with Multiplier as compared with 360 account?
 

ahboy82

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I beg to differ with highsulphur

Really depends on wat u hit for the conditions

But if ur high networth then maybe multiplier.

You can just use their calculators to simulate

How much roughly is the interest with Multiplier as compared with 360 account?
 

spearhawk

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For annual payment there should be proration if cancel early?

Sent from Xiaomi MI A2 using GAGT
Please check your policy document. Some insurance do not refund premium though.
My understanding is that the premium diff. between monthly and annually is about 3%. So even if you pay monthly, it will only be 30+ cents more for $12 monthly premium (can be easily covered by the additional interest u earn).

Extracted tncs inside policy. Safer to go with monthly payment than paying the 30% early termination fee. :)

JjcmxQL.jpg
 

zumaba

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POSB Cashback is not in?

Previously it will be credited at same time with DBS Multiplier bonus.
 
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chiokcc

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I bought into a Manulife insurance plan last month, and the insurance component has started to appear this month in my Bank & Earn summary. This means that this insurance is valid as an additional component under Multiplier for 12 months, i.e. July 2019 to June 2020.

Question is, if I want to have seamless continuation, I need to re-apply a new insurance plan in June 2020, so that I can carry on for July 2020 to June 2021?
 
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