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DBS changed its Mutiplier plan

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Old 16-08-2019, 07:33 PM   #2521
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i purchased SSB with DBS SRS acct.
seemed like the initial purchase doesnt count towards the MULTIPLIER investment amt.

but do the subsequent coupon payment to my SSB count as MULTIPLER investment?
Yes, coupon pmt counts as investment.
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Old 16-08-2019, 08:47 PM   #2522
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Just to share my recent experience with multiplier account.

I linked my multiplier to my vickers account and trade with cash upfront. After the trade, the invested amount was earmarked. There's the total balance vs the available balance (which was net of earmarked amount). I called dbs to check which balance does dbs use to calculate interest for multiplier.

The initial answer was available balance but i pointed out that the bank and earn summary page shows total balance so that's inconsistent with their initial answer. After a few days, they called to confirm the balance on bank and earn summary is the one they use, ie total balance.
How did you link multiplier to Vickers Cash Upfront?

Currently I need to manually transfer to my Cash Upfront account to buy stocks.

https://www.dbs.com.sg/personal/supp...t-account.html
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Old 16-08-2019, 09:04 PM   #2523
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Yes, coupon pmt counts as investment.
thanks man!
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Old 16-08-2019, 09:15 PM   #2524
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How did you link multiplier to Vickers Cash Upfront?

Currently I need to manually transfer to my Cash Upfront account to buy stocks.

https://www.dbs.com.sg/personal/supp...t-account.html
This is automatically linked for new accounts. I opened multiplier in May 2018 and vickers in October 2018 and it was automatically linked.

Apparently that was already the case for some time already, but for accounts opened a longer time ago it is not linked automatically.

I don't know how to do it however.
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Old 16-08-2019, 10:29 PM   #2525
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How did you link multiplier to Vickers Cash Upfront?

Currently I need to manually transfer to my Cash Upfront account to buy stocks.

https://www.dbs.com.sg/personal/supp...t-account.html
You have to go down to vickers and they can help you do it.
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Old 17-08-2019, 08:42 AM   #2526
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i purchased SSB with DBS SRS acct.
seemed like the initial purchase doesnt count towards the MULTIPLIER investment amt.

but do the subsequent coupon payment to my SSB count as MULTIPLER investment?
Yes, coupon pmt counts as investment.
Not if you use SRS to purchase, as the dividends are credited to SRS acct and not to any DBS/POSB deposit account. Only dividends credited to any DBS/POSB deposit account from CDP qualifies.
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Old 18-08-2019, 07:49 AM   #2527
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Wanna ask salary credit $3k+, with CC spending $100+ can qualify for 1.85% interest?
How do they calculate the interest? Cause now i have $10k. By end of 12 months would be $50+k. So the 1.85% is calculated on which balance?

Last edited by tortoise18; 18-08-2019 at 07:58 AM..
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Old 18-08-2019, 08:16 AM   #2528
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Wanna ask salary credit $3k+, with CC spending $100+ can qualify for 1.85% interest?
How do they calculate the interest? Cause now i have $10k. By end of 12 months would be $50+k. So the 1.85% is calculated on which balance?
Yes, can qualify.

Interest is calculated monthly.

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Old 18-08-2019, 11:47 PM   #2529
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Wanna ask salary credit $3k+, with CC spending $100+ can qualify for 1.85% interest?
How do they calculate the interest? Cause now i have $10k. By end of 12 months would be $50+k. So the 1.85% is calculated on which balance?
Yes, will qualify, as long as salary credit is under code PAY or SAL.
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Old 19-08-2019, 09:25 AM   #2530
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Wanna ask salary credit $3k+, with CC spending $100+ can qualify for 1.85% interest?
How do they calculate the interest? Cause now i have $10k. By end of 12 months would be $50+k. So the 1.85% is calculated on which balance?
1.85% is calculated on your daily end of day balance and credited monthly.
For Multiplier you cannot top up more to bring up the monthly average balance.
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Old 20-08-2019, 01:52 PM   #2531
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Hi guys, I am a fresh grad and am choosing between the different bank savings account. I am planning to do abit of investing as well. Is the Multiplier account currently the best in terms of interest rate right now? Thanks!

My take home pay is around ~ 3.5k
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Old 20-08-2019, 02:03 PM   #2532
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Or you could look at a simple term plan, will send you a pm
PM me too thanks!

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Old 20-08-2019, 02:15 PM   #2533
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Hi guys, I am a fresh grad and am choosing between the different bank savings account. I am planning to do abit of investing as well. Is the Multiplier account currently the best in terms of interest rate right now? Thanks!

My take home pay is around ~ 3.5k
Sent from Stamford Bridge using GAGT
I would not say that dbs multiplier is the best.
It is only the best with some assumptions, such as low credit card spendings, and not much bill payments, etc.

With dbs multiplier for a fresh graduate with <50k savings, you simply need to clock salary + 2 category to get 2% interest. And if you managed to exceed 5k transaction total, you get 2.2% interest.

My recommendation will be to credit salary to any dbs/posb account, spend at least $1 on dbs/posb credit card, posb invest saver for 6 months on STI ETF while you build your SSB ladder of $500 each month.

In this way, you can start gettng 2% interest from day 1.
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Old 20-08-2019, 02:50 PM   #2534
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if you have other investment strategies, may be better to forgo the push from 1.9% (SAL+1 cat) to 2.2% (SAL+2cat).
Its really nothing much to shout about. (50k x 0.3%)/12 = $12.5 / mth

Will be more meaningful if you have insurance or housing loan with DBS.
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Old 20-08-2019, 03:30 PM   #2535
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I would not say that dbs multiplier is the best.
It is only the best with some assumptions, such as low credit card spendings, and not much bill payments, etc.

With dbs multiplier for a fresh graduate with <50k savings, you simply need to clock salary + 2 category to get 2% interest. And if you managed to exceed 5k transaction total, you get 2.2% interest.

My recommendation will be to credit salary to any dbs/posb account, spend at least $1 on dbs/posb credit card, posb invest saver for 6 months on STI ETF while you build your SSB ladder of $500 each month.

In this way, you can start gettng 2% interest from day 1.
if you have other investment strategies, may be better to forgo the push from 1.9% (SAL+1 cat) to 2.2% (SAL+2cat).
Its really nothing much to shout about. (50k x 0.3%)/12 = $12.5 / mth

Will be more meaningful if you have insurance or housing loan with DBS.
Thanks a lot!! Must the salary I credit be the Multiplier account and all my credit bill must be paid with the Multiplier account as well? Because my plan is to use the Multiplier account primarily as a savings account and use another account for my bill payments / daily withdrawals or needs..So that it looks clearer this way

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