DBS changed its Mutiplier plan

[fitzz82]

Thanks for the info.

As I have already have 50K in the acct I have met the 30K requirement. I hope my understanding here is correct.

So what I need is one additional criteria. I already have POSB MasterCard and every month I have spending on the card. Look like I should be able to get full 3.5%.

I am already in investsaver but I understand it is not counted as the investment criteria is based on new investment. Existing investment does not count.

if u earn 15k per month, spend 5k per month cc and 10k per month on home loan.
im sure u can get the full 3.5% int pa.

 

[flikmy]

if u earn 15k per month, spend 5k per month cc and 10k per month on home loan.
im sure u can get the full 3.5% int pa.

That's probably the worst way to hit the 30k threshold. Nice one fitzz82!
Whatever interest you get from the 50k @ 3.5% isn't really enough for your savings since you're effectively spending your total monthly pay, not including other expenses like tax yet.

 

[Slowdown]

Thanks for the clarification.

What I understand now is that the interest rate is determined by how much and the number of criteria met. Let assume I managed to hit 2.2%. it means I get 2.2% of my 50K in the acct. Which means is 1.1K per year.

I think this should be right.

 

[Purplestars]

Has anyone tried to invest with CPF to meet the investment portion yet?

 

[Trazora]

Has anyone tried to invest with CPF to meet the investment portion yet?

invest with cpf not counted. clearly stated in TnC

 

[Purplestars]

invest with cpf not counted. clearly stated in TnC

Thanks. Knew it wouldn't be so good

 

[Trazora]

Thanks for the clarification.

What I understand now is that the interest rate is determined by how much and the number of criteria met. Let assume I managed to hit 2.2%. it means I get 2.2% of my 50K in the acct. Which means is 1.1K per year.

I think this should be right.

interest is credited monthly. The interest you get each month depends on the % interest (based on the transaction amount for the month) and the balance you have in the account.

 

[cannot.remember]

I plan to switch from the cashback programme to the multiplier programme as the rebates are higher for me. I plan to use invest saver as 1 of the criteria and am currently subscribed to the G3B fund. My queries are:

1. After I sign up for the multiplier programme I can add the A35 fund to qualify for the investing criteria for 12 months?

2. Since the RSP only lasts for 12 months, I would have to terminate my G3B fund in 6 months so that it can be in time to qualify as a new fund when the first 12 months of the A35 fund are up? By terminating does it mean liquidating all my G3B units? If so, I think I will probably forgo the $12.5 cash rebate for 6 months and sign up the A35 fund again thereafter.

Thanks!

 

[||||||||||]

hi can someone help me, i just opened the multiplier account,

check this morning how come the interest only 1.92 bucks huh?

i transact my cc bills and salary to this account already....

 

[nefariel]

hi can someone help me, i just opened the multiplier account,

check this morning how come the interest only 1.92 bucks huh?

i transact my cc bills and salary to this account already....

the bonus component is not in yet

 

[nefariel]

I plan to switch from the cashback programme to the multiplier programme as the rebates are higher for me. I plan to use invest saver as 1 of the criteria and am currently subscribed to the G3B fund. My queries are:

1. After I sign up for the multiplier programme I can add the A35 fund to qualify for the investing criteria for 12 months?

2. Since the RSP only lasts for 12 months, I would have to terminate my G3B fund in 6 months so that it can be in time to qualify as a new fund when the first 12 months of the A35 fund are up? By terminating does it mean liquidating all my G3B units? If so, I think I will probably forgo the $12.5 cash rebate for 6 months and sign up the A35 fund again thereafter.

Thanks!

yes and yes

 

[savinmax]

thats just the base interest ( 0.05% p.a.)

The Multiplier bonus interest will come around 4-5th of Jan 2018

 

[koolkool]

Hi. I did a rsp for ABF and I can see the unit trust portion updated with the new units. The amount was deducted on 15 Dec. But in View Bank & Earn Summary the investment portion was not reflected of the amount invested as of today. Like to check how long will this be reflected for your account. Tia.

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The rsp will reflect quite late in the month based on my experience. So if the rsp did not get reflected in the summary, wait till end of the month.

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[tiertime]

Today under the "View Bank and Earn Summary"for Multiplier seems like got bug?

My investment and salary section got more than 50% sudden increase for no reason, anyone encounter same issue in this section?

 

[Squaredot]

Today under the "View Bank and Earn Summary"for Multiplier seems like got bug?

My investment and salary section got more than 50% sudden increase for no reason, anyone encounter same issue in this section?

mine too
But The Total Monthly Banking as at 31 Dec is correct.

 

[tiertime]

mine too
But The Total Monthly Banking as at 31 Dec is correct.

yes i noticed that also... i canned in to ask, they say it's like that coz system not updated

they ask me check back after 4th , then will reflect the correct amt

 

[eat.buttercake]

I just opened a Multiplier account and have RSP under another POSB savings. Is it considered as an eligible module (POSB/DBS as a whole) or must I shift my RSP crediting to Multiplier instead?

 

[tiertime]

can I FAST from another account and choose salary payment and qualify for the bonus interest?

u can try and let us know..

 

[Trazora]

I just opened a Multiplier account and have RSP under another POSB savings. Is it considered as an eligible module (POSB/DBS as a whole) or must I shift my RSP crediting to Multiplier instead?

RSP applied before opening DBS multiplier not counted, otherwise don't matter if RSP is on another POSB/DBS account.

 

[Charlie_Zhan]

can I FAST from another account and choose salary payment and qualify for the bonus interest?

lol not gonna happen. companies need to submit your payroll GIRO file to their bank under transaction code 22 in order for Dbs to pick up the salary crediting transaction.

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