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DBS changed its Mutiplier plan

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Old 06-07-2019, 04:36 PM   #2281
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Correct me if I am wrong, if you paid it annually, wouldn't the deduction be one time only? How are you going to meet the multiplier requirement for the next 11 months?
They will prorate the annual payment over 12 months for the purpose of the multiplier tiering
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Old 06-07-2019, 04:45 PM   #2282
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For annual payment there should be proration if cancel early?

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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).

Last edited by o2atom; 06-07-2019 at 04:50 PM..
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Old 06-07-2019, 04:51 PM   #2283
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They will prorate the annual payment over 12 months for the purpose of the multiplier tiering
I see. Thanks for the info.
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Old 06-07-2019, 06:51 PM   #2284
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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?

Last edited by weng0202; 06-07-2019 at 07:03 PM..
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Old 06-07-2019, 07:05 PM   #2285
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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.
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Old 06-07-2019, 07:10 PM   #2286
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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
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Old 06-07-2019, 07:12 PM   #2287
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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
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Last edited by deathman91; 06-07-2019 at 07:28 PM..
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Old 06-07-2019, 07:30 PM   #2288
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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.
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Old 06-07-2019, 09:24 PM   #2289
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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.
Ya, only benefits those who are active in shares trading
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Old 06-07-2019, 09:37 PM   #2290
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Hi there, is dbs multiplier account better than ocbc 360?
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Old 06-07-2019, 10:43 PM   #2291
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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...
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Old 06-07-2019, 11:14 PM   #2292
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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?
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Old 07-07-2019, 02:24 AM   #2293
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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?
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Old 07-07-2019, 07:38 AM   #2294
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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.

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Old 08-07-2019, 06:45 AM   #2295
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Bonus interest is in
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