DBS changed its Mutiplier plan

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Bombermankid

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maumu said:
1. salary can be to any dbs/posb account in your name.
2. easiest is credit card + insurance (cheapest kind can get < $20 per month).
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for insurance need to ask CSO or a bank staff to open ? Ibanking I can only find Cancercare, Savvyendowment and Travellershield.
 
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Bombermankid

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reddevil0728 said:
Cancercare is counted
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yup.. but I wanted to look at some other options if possible. Actually at first I thought term life plans would be better and more beneficial, but on second thought maybe it is useless and something CI related like cancercare is better.. cos if I die then the term life not much use also .:s22:
 
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Bombermankid

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In addition, even if I buy Cancercare, it is only counted for the first 12 months right ? So if there are no other options online to buy then how to buy a new policy after the 12 months ? I guess only through the bank staff ? But who knows whether DBS Multiplier still here after 12 months of course :s13:
 
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maumu

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Bombermankid said:
In addition, even if I buy Cancercare, it is only counted for the first 12 months right ? So if there are no other options online to buy then how to buy a new policy after the 12 months ? I guess only through the bank staff ? But who knows whether DBS Multiplier still here after 12 months of course :s13:
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after 12 months, can cancel the plan and buy again the same plan. that's what the others are saying... I also just joined so will have a year to ponder later.
 
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maumu

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reddevil0728 said:
Easiest might not be the most cost effective
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credit card only need to spend $1... what else is more cost effective?

unless you are referring to invest category (min $100 per month) , which also means you are taking risks of losing capital and fees along the way.

I guess whatever floats your boat.. ;)
 
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Bombermankid

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maumu said:
credit card only need to spend $1... what else is more cost effective?

unless you are referring to invest category (min $100 per month) , which also means you are taking risks of losing capital and fees along the way.

I guess whatever floats your boat.. ;)
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He might have a point though. Cos for some people like me, I don't currently have a credit card with POSB/DBS. So if I sign up for one I have to factor in the annual card fee also whether it is worth it (I know it can be waived and there are cashbacks etc, but it is better to factor it in just in case). So it is not really just $1 but also about the annual card fee.
 
havetheveryfun

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Do remember that if you only have one category, only your 25k will earn the bonus interest. the next 75k is earning base interest.

If you have 2 categories, only 50k is earning the bonus interest. next 50k is earning base interest.

So don't base your estimates on 100k.
 
reddevil0728

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Bombermankid said:
yup.. but I wanted to look at some other options if possible. Actually at first I thought term life plans would be better and more beneficial, but on second thought maybe it is useless and something CI related like cancercare is better.. cos if I die then the term life not much use also .:s22:
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it depends on what your objective is. Are you get insurance cause you really need insurance, or are you getting insurance just to unlock higher interest.

maumu said:
credit card only need to spend $1... what else is more cost effective?

unless you are referring to invest category (min $100 per month) , which also means you are taking risks of losing capital and fees along the way.

I guess whatever floats your boat.. ;)
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talking about invest category.

Insurance premium is a cost that is gone and you will never see it unless you have to claim (touch wood)

for investment, the cheapest seems to be the bond ETF 0.5% fee. so $100 in investment, 50c is a fee that you will never see again.

nobody is stopping you to immediately redeem the units the very day it gets credited. fluctuation for bond shouldn't be that much within a day or 2. so what's the chances of you losing more than the cost of your insurance per month of say $10?

Bombermankid said:
He might have a point though. Cos for some people like me, I don't currently have a credit card with POSB/DBS. So if I sign up for one I have to factor in the annual card fee also whether it is worth it (I know it can be waived and there are cashbacks etc, but it is better to factor it in just in case). So it is not really just $1 but also about the annual card fee.
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tbh, i don't think it make sense to forgo cc spend which is like almost a "free" category and go for investment or insurance.
 
IronMan123

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Bombermankid said:
He might have a point though. Cos for some people like me, I don't currently have a credit card with POSB/DBS. So if I sign up for one I have to factor in the annual card fee also whether it is worth it (I know it can be waived and there are cashbacks etc, but it is better to factor it in just in case). So it is not really just $1 but also about the annual card fee.
Click to expand...

DBS credit card annual fee auto waived even though not spend much.

Posted with iPhone HardwareZone Forums app
 
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vsvs24

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My POSB everyday card last year auto waived. This year need to call in to request waiver through automated method to get it waived.

So not auto waive in that sense
 
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The last time, when my annual fee was charged, I called them and the moment I said "annual fee waiver" they redirected me immediately to the automated hotline. CSO don't want to waste time dealing with fee waiver requests, let the computer decide.
 
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Squaredot

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cassowary18 said:
The last time, when my annual fee was charged, I called them and the moment I said "annual fee waiver" they redirected me immediately to the automated hotline. CSO don't want to waste time dealing with fee waiver requests, let the computer decide.
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No need to talk to anyone.
There is an option in Secured Email to ask for fee waiver. Fast response. Always rec Approval SMS within same day or the next day.
 
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