DBS changed its Mutiplier plan

[chocobo2008]

how did u know it is recognised... have u got the interest already? coz i thought the interest only comes in on the 7th working day of following month..?

if i buy the stocks via DBS Vickers using the Cash upfront account and sell the stock within a day or 2 like that also counted towards the 3.5% interest?

Haven’t got the interest, but the amount (used to Buy stock) is already reflected under “Bank and earn” under investment session. You can check from online banking.

I did not sell so not sure whether selling right away is countered or not.

 

[petromax]

how did u know it is recognised... have u got the interest already? coz i thought the interest only comes in on the 7th working day of following month..?

if i buy the stocks via DBS Vickers using the Cash upfront account and sell the stock within a day or 2 like that also counted towards the 3.5% interest?

According to https://www.dbs.com.sg/iwov-resourc...er-programme/DBS Multiplier Programme_FAQ.pdf

Contra trades are not recognized. If you buy the stock and sell within the same day or 2, it is considered as a contra trade.

 

[tiertime]

According to https://www.dbs.com.sg/iwov-resourc...er-programme/DBS Multiplier Programme_FAQ.pdf

Contra trades are not recognized. If you buy the stock and sell within the same day or 2, it is considered as a contra trade.

i seldom buy stocks, so not very familiar , but if i use the Cash upfront account to buy and sell within a day or 2, then its not considered Contra right?

 

[flikmy]

I tried once buying stocks through cash upfront account in Vickers and was recognized by “Bank and earn”.

Interesting that you've got it recognized. I'll try msging DBS to see if there was a problem. The stocks that I bought would have brought me up to a new tier, so would have gotten a better interest.

 

[flikmy]

Interesting that you've got it recognized. I'll try msging DBS to see if there was a problem. The stocks that I bought would have brought me up to a new tier, so would have gotten a better interest.

Just spoke to DBS and they said that the Bank & Earn summary page for Nov only shows transactions for Oct. Not really sure if this is true.
Anyway, she said that the investment transaction (done on the 14th of Nov) should appear in Dec's summary.

For anyone that has done a cash upfront trade and it appearing on their bank & earn summary, do you know when it actually appears? In the same month or the month after?

 

[Purplestars]

What is the cheapest way to get investment credit?

We can spend $1 on credit card to get the credit card bonus

Can we invest $1 a month for the bonus?

 

[Soul77]

which stocks are the most frequently giving dividend?
Possible to buy couple different stocks such that every month will receive dividend?

 

[tiertime]

which stocks are the most frequently giving dividend?
Possible to buy couple different stocks such that every month will receive dividend?

i use this website to check: https://www.dividends.sg/rank/blue

 

[Soul77]

i use this website to check: https://www.dividends.sg/rank/blue

Thanks. for Multiplier, I think need to check the pay date.

 

[Squaredot]

Thanks. for Multiplier, I think need to check the pay date.

Can see the Pay Date when u click on the stock.

 

[Geeezz]

hoot those ut that gives dividend monthly huan

 

[tiertime]

hoot those ut that gives dividend monthly huan

yes.. i think only for SGX stocks if use cash upfront account.... i not sure the cash account will give interest to the multiplier account or not...?



There are 2 threads for Multiplier account can the mod merge these threads..:

http://forums.hardwarezone.com.sg/c...-include-credit-card-spending-4507750-15.html

http://forums.hardwarezone.com.sg/money-mind-210/dbs-changed-its-mutiplier-plan-5699929-18.html

 

[marcoyeo]

When does DBS credit the monthly interest?

 

[daxiong88]

don't seeany bonus interest yet.

 

[Buzy_bee]

When does DBS credit the monthly interest?

7th working day. Should be on Monday 11 Dec'17

 

[vegavega25]

don't seeany bonus interest yet.

Check again!

 

[terence2112]

Bonus interest is credited!

Made the best choice to move my savings account to DBS

 

[Soul77]

Interest received. can anybody advise if the bonus interest is counted based on average daily balance or daily balance up to 50k?

Meaning, if the 1st 7 days of the month, my daily balance is <50K, can I compensate with the remaining days of the month by putting in more than >50K?
or it's not counted since only max 50K daily is counted for the bonus interest?

 

[chiokcc]

Interest received. can anybody advise if the bonus interest is counted based on average daily balance or daily balance up to 50k?

Meaning, if the 1st 7 days of the month, my daily balance is <50K, can I compensate with the remaining days of the month by putting in more than >50K?
or it's not counted since only max 50K daily is counted for the bonus interest?

It's ADB of up to $50k. The base 0.05% is credited on the last day of the month, and is applied to ADB of up to $350k. If your ADB is $50k exactly, the base interest should be ~$2.10 (depending on the number of the days in the month)


Bonus interest for month of November (max 3.5%) is ~$141.90 and is credited on the 7th Dec.

 

[chiokcc]

DBS SAVINGS / SAVINGS

Deposit Amount

Rates (% p.a.)


First $10,000 0.0500 - 0.050%pa
Next $90,000 0.0500 - 0.050%pa
Next $250,000 0.0500 - 0.050%pa
Next $650,000 0.0750 - 0.075%pa
Remaining balance above $1,000,000 - 0.100%pa