DBS changed its Mutiplier plan

maple96

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Apply SSB can increase multiplier rates?

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Apply SSB has no effect on multiplier interest, but the half yearly interest u will get from the SSB will help u qualify for the investment category to hit a higher multiplier interest rate tier. So u have to wait 6mths later to qualify if u arrange the interest to be credited from CDP to your DBS/Posb savings acct.

So u need to build the SSB ladder for 6mths, ie buy SSB for consecutive 6mths so u will get interest from CDP every mth but 6mths later.

Why bother? I setup RSP of $100 every mth, I get higher multiplier interest rate every mth, immediately. U wait, scarly DBS change multiplier criteria down the road :s13:
 

BlackCube

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Apply SSB has no effect on multiplier interest, but the half yearly interest u will get from the SSB will help u qualify for the investment category to hit a higher multiplier interest rate tier. So u have to wait 6mths later to qualify if u arrange the interest to be credited from CDP to your DBS/Posb savings acct.

So u need to build the SSB ladder for 6mths, ie buy SSB for consecutive 6mths so u will get interest from CDP every mth but 6mths later.

Why bother? I setup RSP of $100 every mth, I get higher multiplier interest rate every mth, immediately. U wait, scarly DBS change multiplier criteria down the road
:s13:

What's the rsp thingy? More info?

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BlackCube

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Regular savings plan, under investment in iBanking

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Is it the invest saver thingy?

So I buy 100 monthly, I will get the investment category the next month onwards?

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maple96

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Tp101s

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What about those dividends from CDP share holdings that are credited into Multiplier acct - would they trigger the investment action tier?

Regular savings plan, under investment in iBanking

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BlackCube

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Yes, DBS/POSB Invest Saver (ETFs) or RSP (UT), start your RSP before the 15th of the month to qualify for current mth multiplier interest.

Read the discussions in this thread https://forums.hardwarezone.com.sg/...cks-bond-purchase-dbs-multiplier-6164695.html

Some question.

When buying, do I have to buy using the multiplier account?

z08sZJb.png


Does it mean that I should buy just before 15? or anytime also will do?
And after I invest the $100, I will get the dividend of the investment immediately (as in the next month) so to get the investment category?

If so, where does the dividend get credited to (which account)? I don't see any place that let me to specify to crediting account.

There's only 4 of them to buy? I only search for ETF though. Is that right?
Which one should I get?

dqBZx6o.png


Thanks
 
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vegavega25

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Some question.

When buying, do I have to buy using the multiplier account?

Does it mean that I should buy just before 15? or anytime also will do?
And after I invest the $100, I will get the dividend of the investment immediately (as in the next month) so to get the investment category?

If so, where does the dividend get credited to (which account)? I don't see any place that let me to specify to crediting account.

Source of investment can be any DBS/POSB account. It is the monthly investment that is counted for the investment category, not the dividend credit. Any dividends declared will be paid out to the same bank account you purchase from. I believe there is some free cancellation period after the purchase. DBS will recognise the investment category as having been fulfilled only after that.
 

maple96

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See my comments in blue below:

Some question.

When buying, do I have to buy using the multiplier account?

U can specify any DBS/POSB account to debit the $100 per mth. This account will be credited with any dividends paid for the ETF/Fund u purchased. For me, I use multiplier for ease of review.

Does it mean that I should buy just before 15? or anytime also will do?
And after I invest the $100, I will get the dividend of the investment immediately (as in the next month) so to get the investment category?

U can start the RSP any time before the 15th (cutoff date) to qualify for current mth investment category ( (eg if u do it today, u get bonus interest for Jan 2020), then DBS will deduct the $100 on 15th (or next working day if 15th not working day), this will be posted in your investment account 3 working days later and reflected in the Bank and Earn summary (BNE) another 3 working days later. Bingo, u will see the interest rate awarded to your 50k in the BNE and "guaranteed" to be paid the interest in Feb 2020.

If so, where does the dividend get credited to (which account)? I don't see any place that let me to specify to crediting account.

See my comments above

There's only 4 of them to buy? I only search for ETF though. Is that right?
Which one should I get?

Yes only 4 ETFs, more than 2 compared to 2 mths ago. But there more Unit Trust Funds u can apply RSP also.

My objective of starting RSP is to earn multiplier interest, short term of 12mths (this type of investment only allow u to earn interest for 12mths), not for investment to earn profits which is long term. There is too much market volatility and uncertainties, I want to minimise risk of loss of capital, so I choose fixed income UT, stable and not subject much to such volatility. It happened to pay me qterly dividends and I get cashback for fees paid due to promo at that time (additional safety net) :s13:

So it is up to u, what is your objective.


Thanks

Edit: A tip for u: wait till a few days before 15th Jan to start RSP in case DBS announce any cny promo, I am waiting :s13:
 
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BlackCube

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Source of investment can be any DBS/POSB account. It is the monthly investment that is counted for the investment category, not the dividend credit. Any dividends declared will be paid out to the same bank account you purchase from. I believe there is some free cancellation period after the purchase. DBS will recognise the investment category as having been fulfilled only after that.

See my comments in blue below:

Edit: A tip for u: wait till a few days before 15th Jan to start RSP in case DBS announce any cny promo, I am waiting
:s13:



Thanks. Will read more later.

So those 4 I can just choose any or there's better one of the 4? My objective is just to hit the investment category for multipler. Starting wanted to get ssb but like u said, need to wait for 6 months. I think this rsp is better.

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kurt111494

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Thanks. Will read more later.

So those 4 I can just choose any or there's better one of the 4? My objective is just to hit the investment category for multipler. Starting wanted to get ssb but like u said, need to wait for 6 months. I think this rsp is better.

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Will RSP only last for the first 12 months? Or will it be like SSB, always ongoing after you've bought?
 

BlackCube

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Will RSP only last for the first 12 months? Or will it be like SSB, always ongoing after you've bought?

From what I read is 12 months unlike ssb which is for 10 years?

But can buy one different etf per 12 months period lo. 4 years is a long time. Even 1 year is.

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Tp101s

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For Investment action, if I am to purchase stock or make fund transfer to investment platform eg. SYFE or Stashaway, from DBS SRS account (say $2k to 3k in a single month), would this action qualify and recognise for the (1) aggregate transaction volume of 2k, (2) investment category action ?
 

FuNKySoULyBrO

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For Investment action, if I am to purchase stock or make fund transfer to investment platform eg. SYFE or Stashaway, from DBS SRS account (say $2k to 3k in a single month), would this action qualify and recognise for the (1) aggregate transaction volume of 2k, (2) investment category action ?

Nope, the investment transactions are either dividends/interests ( like SSB ) credited into ur POSB/DBS accts, or online buy orders from their own brokers, ie DBS Vickers or their online trading platform. U can't use any other brokers, or transfer funds out to other brokerages for them to treat it as investment.
 

belgarathc

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May I check if I can have SSB interest deposited into joint account so that both my wife and I fulfill the investment category?
 
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