DBS changed its Mutiplier plan

[foozgarden]

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

it will credit only end of the day (7th). so check it on 8th

 

[foozgarden]

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).

the reason i ask, is coz i want to sell.... this part i am not sure.

for buy trade. both DBST and DBSV is counted. it is reflected under my monthly
statemtent, togther with all the divd received.

 

[Trazora]

the reason i ask, is coz i want to sell.... this part i am not sure.

for buy trade. both DBST and DBSV is counted. it is reflected under my monthly
statemtent, togther with all the divd received.

Selling funds/shares do not count

 

[oleyAeon]

Will ETF regular savings plan be considered as "investment"? since you are "investing" on a monthly basis?

 

[flikmy]

the reason i ask, is coz i want to sell.... this part i am not sure.

for buy trade. both DBST and DBSV is counted. it is reflected under my monthly
statemtent, togther with all the divd received.

Could you confirm that DBST is included?
I might switch to that instead, since there is no min commission.

 

[flikmy]

Will ETF regular savings plan be considered as "investment"? since you are "investing" on a monthly basis?

Yes, it's listed in the terms and conditions with some caveats.
https://www.dbs.com.sg/iwov-resourc...er-programme/DBS Multiplier Programme_FAQ.pdf

 

[wwf]

Last month, i received it on the 7th.

Today i just check, interest not in yet

Should be on the 7th working day. I guess will be in on 9 feb.

 

[Emeraldz]

The T&C states that the investment like the etf rsp will only be counted for 12 months?
Means after that it will not be eligible anymore?

Anyway, I’m planning to open the multiplier account, how long does it take if you do it online?

 

[agony2]

The T&C states that the investment like the etf rsp will only be counted for 12 months?
Means after that it will not be eligible anymore?

Anyway, I’m planning to open the multiplier account, how long does it take if you do it online?

around 1 working day or less if you have existing post/dbs account.

 

[hwmook]

Interest is in for those waiting.

 

[ahbuthen]

Interest is in for those waiting.

Thanks, saw it.

 

[WWH123]

Which DBS credit card is best for Multiplier acct?

 

[foozgarden]

Selling funds/shares do not count

oh dang......

 

[vegavega25]

Which DBS credit card is best for Multiplier acct?

The minimum spend required on a DBS credit card to meet the Multiplier bonus interest rates is S$1. So if the purpose is just to get the Multiplier bonus interest rate, you can get any one of them, it does not matter.

If however you would like to then start using that credit card substantively, then look into which one of them makes sense overall for you independent of the link with the bank account.

 

[Cen]

Could you confirm that DBST is included?
I might switch to that instead, since there is no min commission.

Yes. Buy trade for DBST is included

 

[heavenandearth88]

interest is in

 

[flikmy]

Yes. Buy trade for DBST is included

Thanks Cen, I'll probably give it a try soon.

 

[Squaredot]

When i add up both interest, it doesnt tally 50,000*1.9%/365*31days?
'
anyone knows how is interest calculated ? curious
eg $50,000 @ 1.9% in Jan
Base is how much?
Bonus interest is how much?

 

[Soul77]

When i add up both interest, it doesnt tally 50,000*1.9%/365*31days?
'
anyone knows how is interest calculated ? curious
eg $50,000 @ 1.9% in Jan
Base is how much?
Bonus interest is how much?

I think It's calculated daily, rounded to the 2 decimal (or rounded up?). For my case, I managed to hit the maximum band 3.5% (due to bonus, some dividend, some big spending, and stock purchases)

I'm getting 146.63 which is calculated as such:
3.5% - 0.05% (Base DBS interest) = 3.45%
50000 * 0.0345 * (1/365) = 4.726 -> rounded to 4.73
4.73 * 31 = 146.63

 

[Squaredot]

I think It's calculated daily, rounded to the 2 decimal (or rounded up?). For my case, I managed to hit the maximum band 3.5% (due to bonus, some dividend, some big spending, and stock purchases)

I'm getting 146.63 which is calculated as such:
3.5% - 0.05% (Base DBS interest) = 3.45%
50000 * 0.0345 * (1/365) = 4.726 -> rounded to 4.73
4.73 * 31 = 146.63

thanks bro for enlightenment
50,000*1.85%/365=2.534->round down to 2.53
2.53*31=78.43, which is the amount credited
0.05% lazy to tally. It should be fine.