DBS changed its Mutiplier plan

[Grafspee]

Oh yes i'm stupid. I haven't noticed it was not updated. I'll check again in a couple of days.
Many thanks

 

[CCPie]

Now covid got any insurance can sign up online? Really no mood to go waste time and meet agent.

 

[1a2a3a]

Sorry late reply.

After a few ding Dong, they mention that is because my wife don’t have signature specimen with dbs as her base POSB account was opened since young. Need to go update signature then can buy cancer care online because right now no signature specimen.

But funny thing is that, when she open multipler online, she managed to select reference POSB signature. So I asked why can’t it be the same for cancer care?
They couldn’t answer me....

Either way, will go down branch and hopefully sort this out.

Yes, my wife account also have problem signing up cancercare. Seems to be DBS side issue. Have you check with DBS on this?

 

[MrAppleCrumble]

Sorry late reply.

After a few ding Dong, they mention that is because my wife don’t have signature specimen with dbs as her base POSB account was opened since young. Need to go update signature then can buy cancer care online because right now no signature specimen.

But funny thing is that, when she open multipler online, she managed to select reference POSB signature. So I asked why can’t it be the same for cancer care?
They couldn’t answer me....

Either way, will go down branch and hopefully sort this out.

Yeap. Go down to branch sort out easier...

 

[Buzy_bee]

Seeking advice from the pro. I bought STI index on 29 Sep but dbs digibank app shows that deduction from my account is on 1 Oct. Anyone encountered before? Not sure if can appeal to be counted as Sep transaction.

 

[reddevil0728]

Seeking advice from the pro. I bought STI index on 29 Sep but dbs digibank app shows that deduction from my account is on 1 Oct. Anyone encountered before? Not sure if can appeal to be counted as Sep transaction.

Via vickers?

Cause has to be settled. Settlement for SGX is T+2

 

[Buzy_bee]

Via vickers?

Cause has to be settled. Settlement for SGX is T+2

Yes via Vickers

 

[reddevil0728]

Yes via Vickers

Yea has to be settled by the end of the month if not count as following month

 

[questionman26]

Hello gurus, I am under multiplier with the salary and credit card spend every month and currently in 5k to 15k bracket. Due to the current drop in interest, i plan to subscribe a RSP for SGD100/month in order to hit 2 categories for 12 month, then change to another RSP 12 month later. Any Bro can give me advise on which UT or equity to go for the return will be at least >1.1% interest offer by the multiplier? Of course understand nobody can give 100% guarantee, but I willing to take any advise as a suggestion. TIA

 

[reddevil0728]

Hello gurus, I am under multiplier with the salary and credit card spend every month and currently in 5k to 15k bracket. Due to the current drop in interest, i plan to subscribe a RSP for SGD100/month in order to hit 2 categories for 12 month, then change to another RSP 12 month later. Any Bro can give me advise on which UT or equity to go for the return will be at least >1.8% interest offer by the multiplier? Of course understand nobody can give 100% guarantee, but I willing to take any advise as a suggestion. TIA

Why need a return that is at least >1.8%?

 

[questionman26]

Ops sorry, should be >1.1%, if i save the SGD100 in multiplier instead, i will get 1.1% interest for salary+1 category bracket.

 

[reddevil0728]

Ops sorry, should be >1.1%, if i save the SGD100 in multiplier instead, i will get 1.1% interest for salary+1 category bracket.

huh?

You currently have Income + 1 category right? and you are in the 5k to 15k bracket?

That means your interest is 1.1% on the first 25k

But if you have 1 more category, it becomes 1.8% on the first 50k, i.e. your entire balance up to 50k will be 1.8%.

are you aware of this?

 

[questionman26]

yes you are right, i want to add 1 more category, hence want to start SGD100/month RSP, but hope to invest in a fund/equity which least likely to make a lost. TIA

 

[reddevil0728]

yes you are right, i want to add 1 more category, hence want to start SGD100/month RSP, but hope to invest in a fund/equity which least likely to make a lost. TIA

Actually why not sign up for either 1 of the 2 bond etf A35 or MBH. where the fee is 0.5% rather than 0.82% for the STI/REIT ETF.

then as soon as the units are credited, u immediately sell it, so the "loss" is small, while at the same time then incremental interest you get more than outweighs any cost of this "investment"

 

[revhappy]

yes you are right, i want to add 1 more category, hence want to start SGD100/month RSP, but hope to invest in a fund/equity which least likely to make a lost. TIA

Investing in something just for the sake of earning extra interest, doesnt make sense.

 

[reddevil0728]

Investing in something just for the sake of earning extra interest, doesnt make sense.

It makes sense if the marginal returns is greater than margin cost

 

[questionman26]

Actually why not sign up for either 1 of the 2 bond etf A35 or MBH. where the fee is 0.5% rather than 0.82% for the STI/REIT ETF.

then as soon as the units are credited, u immediately sell it, so the "loss" is small, while at the same time then incremental interest you get more than outweighs any cost of this "investment"

Thnks, this is a little bit confusing to me. Sign up you mean RSP as well? if not, for buying an bond, doesn't the action counted for 1 month only? Hope you can explain more on this.

Besides this action, i not sure how I can hit 2 categories. I do not have house loan and have other insurance already.

Frankly, i started the multiplier last year when the interest is very good. But within a year, DBS made many changes and the term is becoming worse. Feel like being cheated

 

[reddevil0728]

Thnks, this is a little bit confusing to me. Sign up you mean RSP as well? if not, for buying an bond, doesn't the action counted for 1 month only? Hope you can explain more on this.

Besides this action, i not sure how I can hit 2 categories. I do not have house loan and have other insurance already.

Frankly, i started the multiplier last year when the interest is very good. But within a year, DBS made many changes and the term is becoming worse. Feel like being cheated

Yes sign up for the RSP. The RSP is valid for 12 times or 12 months. But there’s nothing stoping you from selling the shares you receive after it gets credited each time. Subsequent months you will still invest $100.

Alternative is insurance, but I think it cost more.

Well. Last year got no covid-19. And dbs didn’t guarantee the interest. No where did they say they are guaranteeing. So I’m not sure “cheated” is the right word to use.

Where else would you have put it? Did you even see how other banks are cutting their interest? Would you have been better off no using dbs?

 

[questionman26]

Thank you Bro. reddevil0728, yes maybe "Cheated" is a bit of strong word, just feel disappoint on the change in such a short time frame, of course other bank may have done the same as well. I will try the UT RSP as your suggestion.

 

[reddevil0728]

Thank you Bro. reddevil0728, yes maybe "Cheated" is a bit of strong word, just feel disappoint on the change in such a short time frame, of course other bank may have done the same as well. I will try the UT RSP as your suggestion.

well. i guess nobody realised 2020 is going to be such a bad year

i was talking about ETF not UT