DBS changed its Mutiplier plan

[Trazora]

yup. thanks. so they should be reflected by end of month?

Yes. They should

 

[camholicx]

Just to check, do I get 2.2% for this:

- Salary of $5k
- Credit card usage of $200
- Posb Invest Saver - $100 per month to STI ETF

 

[yumyumz]

Just to check, do I get 2.2% for this:

- Salary of $5k
- Credit card usage of $200
- Posb Invest Saver - $100 per month to STI ETF

Use the interest calculator on dbs website

Sent from hehe using GAGT

 

[mummy1234]

I activated my account using SMS and the debit card they sent me but they did not tell me account number?

 

[nefariel]

Just to check, do I get 2.2% for this:

- Salary of $5k
- Credit card usage of $200
- Posb Invest Saver - $100 per month to STI ETF

Yes if your gross is 6.2k i.e. net 5k after cpf.

 

[zSpiraL]

Cool! How about MasterCard® Paypass™ payment at the e-Payment top-up option at MRT Station's General Ticketing Machines (GTMs)? Will it be counted as posted retail transactions? thanks!

MasterCard® Paypass™ payment at watsons, sheng siong etc are retail transactions. It will count as credit card transaction for DBS multiplier once it is posted by the merchant.

 

[plainvanilla]

Yes.

10char

Cool! How about MasterCard® Paypass™ payment at the e-Payment top-up option at MRT Station's General Ticketing Machines (GTMs)? Will it be counted as posted retail transactions? thanks!

 

[Purplestars]

Quick Question: Do I get interest stacked on my SAYE and BYOB accounts?

4% for SAYE and BYOB + additional from DBS Multiplier?

Will my balances in my SAYE and current savings account enjoy the multiplier interest rates?

 

[nefariel]

Quick Question: Do I get interest stacked on my SAYE and BYOB accounts?

4% for SAYE and BYOB + additional from DBS Multiplier?

Will my balances in my SAYE and current savings account enjoy the multiplier interest rates?

yes ( diff balances )

no

no

 

[heng_ah]

Just to check, do I get 2.2% for this:

- Salary of $5k
- Credit card usage of $200
- Posb Invest Saver - $100 per month to STI ETF

You can confirm it via their online ibanking platform.
After you have logged in, click on Bank and Earn Summary link, it shows which interest rate you are currently entitled to.

 

[Trazora]

Quick Question: Do I get interest stacked on my SAYE and BYOB accounts?

4% for SAYE and BYOB + additional from DBS Multiplier?

Will my balances in my SAYE and current savings account enjoy the multiplier interest rates?

Interest rate for DBS multiplier is applied to the balance in the DBS multiplier account (not the SAYE/current account).

 

[Purplestars]

Interest rate for DBS multiplier is applied to the balance in the DBS multiplier account (not the SAYE/current account).

So I have to manually transfer all my money from my savings account to multiplier account every month manually?

Well that seems like a chore.

 

[kevinkoh1992]

So I have to manually transfer all my money from my savings account to multiplier account every month manually?

Well that seems like a chore.

Don't think you will qualify for the SAYE and BYOB promotion if you withdraw from the SAYE account

Sent from Google PIXEL using GAGT

 

[Purplestars]

Don't think you will qualify for the SAYE and BYOB promotion if you withdraw from the SAYE account

Sent from Google PIXEL using GAGT

From my savings account obviously. My salary is deposited into savings account. Some of the cash goes into SAYE, but for the leftovers I have to manually transfer it into the multiplier account.

Anyway to automate the transfer of SAL into multiplier? Please don't tell me to approach HR to change my salary crediting account!

 

[kevinkoh1992]

From my savings account obviously. My salary is deposited into savings account. Some of the cash goes into SAYE, but for the leftovers I have to manually transfer it into the multiplier account.

Anyway to automate the transfer of SAL into multiplier? Please don't tell me to approach HR to change my salary crediting account!

You can arrange for a standing order for the amount to be transferred every month

Sent from Google PIXEL using GAGT

 

[rerear]

Currently have posb invest saver, and leveraging on the home loan, credit card spend, and monthly invest into abf bond to get the cash back interest.

Can I check whether can directly leverage this onto multiplier account as the investment part? Heard need to sell or cancel the existing invest saver thing.

 

[Trazora]

Currently have posb invest saver, and leveraging on the home loan, credit card spend, and monthly invest into abf bond to get the cash back interest.

Can I check whether can directly leverage this onto multiplier account as the investment part? Heard need to sell or cancel the existing invest saver thing.

If you switch to DBS multiplier your existing Posb invest saver will not count. Can apply for POSB invest saver Nikko STI ETF if you never have it before or terminated and fully redeemed at least 6 months ago, and it will count to the transactions for dbs multiplier for 12 months. At the mean time can consider to terminated and fully redeem the ABF bond at least 6 months before the 12 months of the Nikko STI ETF ends, so that you can switch back to it to count to the DBS multiplier then.

 

[rerear]

I see thanks. How to switch from current abf bond to sti etf, or vice versa? IB immediate? Quite tough to monitor the 12 month though.

 

[Trazora]

I see thanks. How to switch from current abf bond to sti etf, or vice versa? IB immediate? Quite tough to monitor the 12 month though.

Can apply for STI/ABF on ibanking. https://www.posb.com.sg/personal/support/investment-ut-apply-invest-saver.html

 

[Kennethzzz]

Is it necessary for the monthly invest saver amount to be deducted from the multiplier account or can I just apply it on my current posb account? Does it count?