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DBS changed its Mutiplier plan

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Old 28-12-2019, 07:20 AM   #2956
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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.
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Old 28-12-2019, 08:29 AM   #2957
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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)

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

Last edited by maple96; 28-12-2019 at 09:11 AM..
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Old 28-12-2019, 01:07 PM   #2958
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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


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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Old 28-12-2019, 02:53 PM   #2959
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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?
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Old 28-12-2019, 03:27 PM   #2960
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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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Old 28-12-2019, 03:33 PM   #2961
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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 ?
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Old 28-12-2019, 04:10 PM   #2962
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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.
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Old 29-12-2019, 09:19 AM   #2963
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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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Old 29-12-2019, 11:12 AM   #2964
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Yes can. U need to link ur cdp to joint account.
Can sms in I believe


https://www.dbs.com.sg/personal/depo...diting-service

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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Old 29-12-2019, 05:44 PM   #2965
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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?
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Old 29-12-2019, 06:58 PM   #2966
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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?
Open anytime, transfer funds in at start of month after salary crediting etc. have been setup
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Old 31-12-2019, 10:27 AM   #2967
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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?
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Old 31-12-2019, 10:48 AM   #2968
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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/m...r-6164695.html
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Old 31-12-2019, 10:56 AM   #2969
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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.
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Old 01-01-2020, 04:08 AM   #2970
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Important notice:
Revision of DBS Multiplier terms w.e.f. 1 February 2020.
https://www.dbs.com.sg/iwov-resource...notice-dbs.pdf

Last edited by sansanjikikut; 01-01-2020 at 04:53 AM..
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