DBS changed its Mutiplier plan

[shpesft]

I just called both DBS and Manulife. The giro deduction for Manulife is today (16th of the month). Should be deducted by this evening.

Ya.. same for me.
I signed up cancercare on 10 Sep and received sms said GIRO setup .. but 10 Oct no deduction on second payment.. maybe wait for another one week.. but nvm.. insurance category already appear in Bank and Save summary..

 

[otahman]

Seem like DBS multiplier interest rate look attractive after all the bank cut interest rate due to cov19. been using UOB one and now thinking to move my funds over.

Anyone also like me move from UOB to DBS? one thing i dun like about DBS is got many things need to hit den can unlock higher interest rate unlike UOB very simple.

 

[cassowary18]

Seem like DBS multiplier interest rate look attractive after all the bank cut interest rate due to cov19. been using UOB one and now thinking to move my funds over.

Anyone also like me move from UOB to DBS? one thing i dun like about DBS is got many things need to hit den can unlock higher interest rate unlike UOB very simple.

Don't jump here jump there. Sooner or later everyone is going to cut to the same level. Go with the bank you're happy with.

 

[reddevil0728]

Seem like DBS multiplier interest rate look attractive after all the bank cut interest rate due to cov19. been using UOB one and now thinking to move my funds over.

Anyone also like me move from UOB to DBS? one thing i dun like about DBS is got many things need to hit den can unlock higher interest rate unlike UOB very simple.

Haven’t cut doesn’t mean wouldn’t happen

 

[vsvs24]

Seem like DBS multiplier interest rate look attractive after all the bank cut interest rate due to cov19. been using UOB one and now thinking to move my funds over.

Anyone also like me move from UOB to DBS? one thing i dun like about DBS is got many things need to hit den can unlock higher interest rate unlike UOB very simple.

You check what interest you think you can get from DBS multiplier and see if it is worth the effort. Take note that UOB One credit card rebate is on quarterly basis so need to consider the timing of this if your spending is large.

 

[MrAppleCrumble]

You check what interest you think you can get from DBS multiplier and see if it is worth the effort. Take note that UOB One credit card rebate is on quarterly basis so need to consider the timing of this if your spending is large.

Yea that’s right. But if you take over your spending to dbs cards you can get higher tier. Best to calculate which is better before change bank accounts

 

[vsvs24]

Yea that’s right. But if you take over your spending to dbs cards you can get higher tier. Best to calculate which is better before change bank accounts

UOB One Card if spend $2000 per mth for the 3 mth that make up your quarter, quarterly rebate is $300. So need to factor in timing on when to move out. Eg if 2 mths spent and just one more mth, need to check if it is better off delaying shift by one month. But if spending is just $500 per mth, then quarterly rebate $50 is neglible.

Besides comparing the bank account interest rates, should also factor in credit card rebates in the comparison. How much you can get from UOB cards vs DBS cards.

 

[Trazora]

UOB One Card if spend $2000 per mth for the 3 mth that make up your quarter, quarterly rebate is $300. So need to factor in timing on when to move out. Eg if 2 mths spent and just one more mth, need to check if it is better off delaying shift by one month. But if spending is just $500 per mth, then quarterly rebate $50 is neglible.

Besides comparing the bank account interest rates, should also factor in credit card rebates in the comparison. How much you can get from UOB cards vs DBS cards.

Actually dbs multiplier just need $0.01 to clock credit card spend category. Can still switch to dbs multiplier and clock transaction amounts via other categories and continue to complete spending on uob one card.

 

[vsvs24]

Actually dbs multiplier just need $0.01 to clock credit card spend category. Can still switch to dbs multiplier and clock transaction amounts via other categories and continue to complete spending on uob one card.

True........

 

[MrAppleCrumble]

Actually dbs multiplier just need $0.01 to clock credit card spend category. Can still switch to dbs multiplier and clock transaction amounts via other categories and continue to complete spending on uob one card.

Hahaha yes this also can. But moi not so much cash on hand to park inside both uob and dbs. But food for thought. Uob only gives extra int up to $75k. If customers got more than that than can park both sides. If not just all concentrate on a certain bank.

Uob just lowered its interest rate again. I think maximum EIR is 1.25%

They last time $1347 than become $900 than going reduce again I think next month than start which means become $750

 

[reddevil0728]

Hahaha yes this also can. But moi not so much cash on hand to park inside both uob and dbs. But food for thought. Uob only gives extra int up to $75k. If customers got more than that than can park both sides. If not just all concentrate on a certain bank.

Uob just lowered its interest rate again. I think maximum EIR is 1.25%

They last time $1347 than become $900 than going reduce again I think next month than start.

DBS may also lower

 

[MrAppleCrumble]

DBS may also lower

Ya I also think so. Local banks always lower interest rates together. Just that someone will take the lead first. Hahaha. Curious how much dbs will go down by

 

[chiokcc]

If you have established a spending pattern over the past few months to get the bonus interest, regardless of banks/accounts, you should just continue to do so, even if their bonus interest rates are reduced.

Unless you have been stretching and trying very hard to hit the requirements, might as well just conitnue.

Low bonus still better than no bonus.

 

[ashethen]

If my cancercare insurance is past it's 13th month of inforcement and not eligible for fulfillment of the insurance category, can I cancel it and reapply again to fulfill the insurance category again?


there's no other eligible insurance plan that is as cheap as cancercare right?

Posted from PCWX using SM-N960F

 

[reddevil0728]

Ya I also think so. Local banks always lower interest rates together. Just that someone will take the lead first. Hahaha. Curious how much dbs will go down by

the chasing of higher interest is endless... what matters is which criteria is easiest to hit. unless the diff in interest is super big. no point keep changing

 

[wilflare]

Not sure why I have a problem with the cancercare premium deduction. Signed up on 2 Sep but till now the Oct premium not deducted yet.

was the Insurance component recognised for you in September under Bank & Earn?

or does it always the recognition always only come one month later? (register in Oct, recognise in Nov)

did anyone do the 12 month payment option?

 

[reddevil0728]

was the Insurance component recognised for you in September under Bank & Earn?

or does it always the recognition always only come one month later? (register in Oct, recognise in Nov)

did anyone do the 12 month payment option?

Always one month later.

What do you mean 12 month payment option?

 

[wilflare]

Always one month later.

What do you mean 12 month payment option?

I was reading the earlier posts in the thread - there's an option to pay annual premium and have it split across 12 months?

another question
if I buy now (Oct)
- it would only be recognised in Nov
- how does the 12 months work? when is my last month?
(a) is November - when it starts being recognised?
(b) or October - the inception month?
- asking because if I want to continue this, then I should buy in my last month and have a new policy kickstart in the next month

 

[reddevil0728]

I was reading the earlier posts in the thread - there's an option to pay annual premium and have it split across 12 months?

another question
if I buy now (Oct)
- it would only be recognised in Nov
- how does the 12 months work? when is my last month?
(a) is November - when it starts being recognised?
(b) or October - the inception month?
- asking because if I want to continue this, then I should buy in my last month and have a new policy kickstart in the next month

Cancercare default is monthly already.

Oct next year is your last month. So you should cancel after premium gets deducted in Sep next year.

 

[vsvs24]

I was reading the earlier posts in the thread - there's an option to pay annual premium and have it split across 12 months?

another question
if I buy now (Oct)
- it would only be recognised in Nov
- how does the 12 months work? when is my last month?
(a) is November - when it starts being recognised?
(b) or October - the inception month?
- asking because if I want to continue this, then I should buy in my last month and have a new policy kickstart in the next month

If you are getting insurance for the sake of higher interest and not for the cover, may not be advisable to pay annually. If bank cut rate and you deem it no longer attractive to cover, can terminate and run. If pay annual a bit more troublesome to ask for refund (and not sure if allowed and how refund is processed).