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