DBS changed its Mutiplier plan

angtc11

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So for SSB I just need to buy consecutive for 6 months? Den I will qualify for the investment category interest for the next 10 years?

I heard from a friend that you can tweak the ssb ladder purchase slightly to hasten the qualification. I will be executing this in July.
1st month: buy 1k
2nd month sell 500 and buy 1k(of that month's ssb)
continue for 6 months.
you will incur more cost to buy and sell but you will start earning higher interest earlier
 

Disaresta

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I heard from a friend that you can tweak the ssb ladder purchase slightly to hasten the qualification. I will be executing this in July.
1st month: buy 1k
2nd month sell 500 and buy 1k(of that month's ssb)
continue for 6 months.
you will incur more cost to buy and sell but you will start earning higher interest earlier

Provided the gain in interest exceeds the $2 fee
 

highsulphur

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I heard from a friend that you can tweak the ssb ladder purchase slightly to hasten the qualification. I will be executing this in July.
1st month: buy 1k
2nd month sell 500 and buy 1k(of that month's ssb)
continue for 6 months.
you will incur more cost to buy and sell but you will start earning higher interest earlier

Kiang jiu ho...

Mai ge kiang
 

sansanjikikut

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I am building my SSB ladder and is now applying for my fourth month. Until I finish the six months cycle I started buying POSB IS. Idea is to buy IS for six months until SSB ladder is completed. IS only need to buy $100 per month. Later I may just sell my IS or keep it. That should fulfill the investment requirement.

thanks, any idea what this mean? T&C from dbs multiplier site

Monthly contribution amount for Unit Trust Regular Savings Plan and/or POSB Invest-Saver will be recognised for the first 12 consecutive contributions per investment fund
 

Slowdown

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It means that investment directly with DBS/POSB will only be recognized as 'investment' in DBS Multiper acct for the first 12 months. Take myself as an example. I am currently paying $100 to invest in POSB IS. It will be counted in DBS Multipler as 'investment' and allowing me to meet the conditions fo higher interest. On the 13th month onward this $100 investment is no longer qualifying as 'investment' in DBS Multiper. I would need to buy something else to qualify. Some here in this thread will toogle their investment every 12 months so to qualify them as 'investment'. The more effective way is to build the SSB ladder. Because dividends are recognized as investment with no time restriction.

thanks, any idea what this mean? T&C from dbs multiplier site

Monthly contribution amount for Unit Trust Regular Savings Plan and/or POSB Invest-Saver will be recognised for the first 12 consecutive contributions per investment fund
 

MrRainbow

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This seems like a silly question but it is my first time applying for credit card. When I pay using nets/paywave on my credit card, I will get the payement statement end of month right regardless of nets/paywave/visa?

Regardless of payment method (paywave/visa) is still counted as my credit card eligible spend?
 
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shpesft

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Paywave and Visa transactions will be counted to the credit card spend. NETS transactions using the CC will not be part of CC spending since it debits your bank account directly.

NETS transactions using CC will appear in your bank account statement and not CC statement.
This seems like a silly question but it is my first time applying for credit card. When I pay using nets/paywave on my credit card, I will get the payement statement end of month right regardless of nets/paywave/visa?

Regardless of payment method (paywave/visa) is still counted as my credit card eligible spend?
 

kelvinloh

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I have just open the account online. Must I make a deposit $3000 to avoid fall below fee in this month of Jul? Or I can wait until 1st Aug to make the $10K deposit for the DBS points 5000 promo?
 

Disaresta

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I have just open the account online. Must I make a deposit $3000 to avoid fall below fee in this month of Jul? Or I can wait until 1st Aug to make the $10K deposit for the DBS points 5000 promo?

I believe the fall below fee goes by monthly average balance, so as long as your monthly average balance is above 3k they wont charge the fall below fee (below 29 years old also waived)
 

Disaresta

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It means that investment directly with DBS/POSB will only be recognized as 'investment' in DBS Multiper acct for the first 12 months. Take myself as an example. I am currently paying $100 to invest in POSB IS. It will be counted in DBS Multipler as 'investment' and allowing me to meet the conditions fo higher interest. On the 13th month onward this $100 investment is no longer qualifying as 'investment' in DBS Multiper. I would need to buy something else to qualify. Some here in this thread will toogle their investment every 12 months so to qualify them as 'investment'. The more effective way is to build the SSB ladder. Because dividends are recognized as investment with no time restriction.

Note that there is still time restriction which is 10/20 years (depending on which type of SSB u bought)
 
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