DBS changed its Mutiplier plan

greythorne

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I have my funds in CIMB. Want to transfer to DBS multiplier account. When is a good time to open this account?
 

Gainduia

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If I start a RSP (UT A, 12 months) to fulfil the investment criteria, after 12 months, I have to switch to UT B, 12 months right?

Based on my understanding, I just need to have 2 UT to switch around every year to fulfil the investment criteria?
 

maple96

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If I start a RSP (UT A, 12 months) to fulfil the investment criteria, after 12 months, I have to switch to UT B, 12 months right?

Based on my understanding, I just need to have 2 UT to switch around every year to fulfil the investment criteria?

I answered this question before. U cannot just do switching as practiced by UT brokers.

Read the following link to other thread where I explained before, in case your meaning of switching is different:

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
 

Gainduia

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I answered this question before. U cannot just do switching as practiced by UT brokers.

Read the following link to other thread where I explained before, in case your meaning of switching is different:

I get it. Once UT A reached 12 months, I will start UT B and terminate/ sell UT A on the 13 month.

I thought can leave (UT A units) till 3rd cycle to carry on RSP.
 

sansanjikikut

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still have, only ssb and any dividend crediting by CDP is now omitted from investment category. stay tuned for the updated multiplier chart on dbs website :(

25k only affect u if u have salary + 1 category. for those currently relying only on ssb for investment category (i.e. salary + cc & investment), they need to purchase UT RSP, if not their cap for higher interest will be at 25k only from feb 2020 onwards.

bro i would be happy if you can unquote my previous post, very disappointing to see myself write that actually :(
 

a4973

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Is UT RSP by 1 account holder recognized for both account holders for a joint savings account and have their own individual Multiplier accounts? Or each multiplier account holder must buy UT RSP on their own?
 

maple96

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Is UT RSP by 1 account holder recognized for both account holders for a joint savings account and have their own individual Multiplier accounts? Or each multiplier account holder must buy UT RSP on their own?

According to TNC, supposed to be each multiplier account holder must buy own RSP - TNC only allow salary or dividend credit credited to joint account to be used/qualify for joint account holders.
 

a4973

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Thank you maple96 you are very quick with updates.
So to be clear ANY inflow from CDP will be treated as Dividend aka Income even if the inflow is not actually dividend but proceeds from sale of counters?
 

maple96

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Thank you maple96 you are very quick with updates.
So to be clear ANY inflow from CDP will be treated as Dividend aka Income even if the inflow is not actually dividend but proceeds from sale of counters?

CDP dividend has a transaction code, what is the trancode for sale? If u can study it for any differences or others can share. I dun have it, cannot help u. Ask DBS is best.
 

greythorne

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Ah. So income pls credit card capped at 25k balance

Dammit -.-

Exactly. 1 Feb 2020 income+CC spend capped at 25k.

I don’t have the multiplier account yet, but considering whether to open or not with the changes.

Got 50k, if 25k put in DBS Multiplier then the other half put where?
 

vegavega25

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Wow, so for people with salary + dividend credit + credit card spend, it will be a lower interest rate tier (since 3 categories will become 2) AND it will be calculated on a lower amount! Double whammy.
 
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