DBS changed its Mutiplier plan

[vddgnd]

How about salary, can i also use another DBS Account or must be giro to Multiplier account ?

Yes, can be other a/c. No need into multiplier.

 

[vegavega25]

When will DBS/POSB start crediting interest to the account? End of month?

Prevailing interest rate is credited on the last calendar date of the month. Preferential interest rate (additional, i.e. total minus prevailing rate) is meant to be credited by the 7th "working day" of the following month according to DBS, but in December and January, it was credited on the 7th calendar date itself.

I created the multiplier account in the month of January, after my company credited my salary to my POSB account, is this the reason why it isn't being reflected in the 'Multiplier Account Summary'?

Terms and conditions (https://www.dbs.com.sg/Resources/personal/docs/deposit/multiplier/dbs-multiplier-account-terms.pdf) state:

"Only eligible cash flows taking place from date of Multiplier Account opening will be considered."

 

[daxiong88]

Does buying Singapore savings bond via DBS Multiplier account qualify towards the investment portion to gain bonus interest?

 

[item2sell]

the interest from SSB is considered.

i don't think buying is considered

 

[daxiong88]

the interest from SSB is considered.

i don't think buying is considered

Hmmm, can anyone confirm?

Thanks.

 

[Soul77]

I have dividend coming in from Mapletree Commercial Trust on 28 Feb 18. This should be ok for the Investment counting for Feb right? It's last day of the month..

 

[chiokcc]

I have dividend coming in from Mapletree Commercial Trust on 28 Feb 18. This should be ok for the Investment counting for Feb right? It's last day of the month..

It's counted as "Investment" component

 

[Perisher]

It's counted as "Investment" component

So if dividend per month is $2000, no need salary crediting?

 

[naro]

So if dividend per month is $2000, no need salary crediting?

Salary crediting is compulsory

 

[savinmax]

So if dividend per month is $2000, no need salary crediting?

for Multiplier, Salary via GIRO is a prequisite to effect the bonus interest

 

[chiokcc]

for Multiplier, Salary via GIRO is a prequisite to effect the bonus interest

Salary is mandatory ....

 

[chiokcc]

BTW, any $$ that goes into your "reference" account that is labeled "CDP", is considered "investment". The source of these "CDP" $$ can be dividend or delisting of counters.

 

[savinmax]

Salary of at least $2000 is mandatory ....

not entirely correct here.

Salary does not need to be $2k. Can be any amount , even $500 eg.

As long as Salary plus one qualifying condition, eg credit card usage, combines to the transacted amount above $2k will get bonus interest - the more the value, the bonus varies upwards of course.

https://www.dbs.com.sg/personal/landing/dbs-multiplier/?cid=sg-dbs-vanity-others-dbs-multiplier

 

[chiokcc]

not entirely correct here.

Salary does not need to be $2k. Can be any amount , even $500 eg.

As long as Salary plus one qualifying condition, eg credit card usage, combines to the transacted amount above $2k will get bonus interest - the more the value, the bonus varies upwards of course.

https://www.dbs.com.sg/personal/landing/dbs-multiplier/?cid=sg-dbs-vanity-others-dbs-multiplier

Opps, my wrong .... corrected my post ....

 

[Soul77]

It's counted as "Investment" component

Thanks. I guess that's the reason they give only the bonus on the 7th day of the month.. It's to consolidate all the transactions even if it's happened to the last day of the month.

 

[foozgarden]

does trading on DBSV or DBST count under their multiplier catergory?

 

[jnashville]

Thanks. I guess that's the reason they give only the bonus on the 7th day of the month.. It's to consolidate all the transactions even if it's happened to the last day of the month.

So today is the 7th day. Normally what time will the interest comes in?

 

[clearsky2007]

So today is the 7th day. Normally what time will the interest comes in?

Last month, i received it on the 7th.

Today i just check, interest not in yet

 

[ahbuthen]

Called them this morning as unable to see any credit in. Waiting for their reply.

 

[flikmy]

does trading on DBSV or DBST count under their multiplier catergory?

Good question. I would like to know as well.
Currently, under the terms and conditions of the Multiplier account, it only list Equity buy investments through DBS Vickers. Doesn't really say much about using their own Treasures account.

On another note, I've had lots of problems with getting transactions on Cash Up Front on DBSV to get recognized on the multiplier account. I had to call up their customer service and only after 2 months did they recognize the issue and provided the missing interest (since the transactions brought me to a different tier).