DBS changed its Mutiplier plan

[OngHuatHuat]

I personally think it is linked to multiplier account, system indicator doesn't show whether the cdp is joint or single.

Can always check on your bank and earn statement to confirm whether they miss anything.

Just to check, if dividends from both spouses enter a joint account, it is aggregated. Would it matter that it comes from a joint investment? what if only coming from 1 spouse, is it counted in the other 's multiplier?

 

[mynickname]

The investment portion is very troublesome. Only BUY orders. Shesh

 

[highsulphur]

The investment portion is very troublesome. Only BUY orders. Shesh

and dividend received.

 

[xiaowee]

I have SRS account opened with DBS. If I use SRS to purchase stocks or ETF via DBS or DBS Vickers, does it count as “investment” calculated for the multiplier account?

 

[flikmy]

I have SRS account opened with DBS. If I use SRS to purchase stocks or ETF via DBS or DBS Vickers, does it count as “investment” calculated for the multiplier account?

Looks like it doesn't on the FAQ page: https://www.dbs.com.sg/iwov-resourc...er-programme/DBS Multiplier Programme_FAQ.pdf

Q5) If I purchase a Unit Trust using CPF or SRS funds, will it be recognised as an eligible transaction?
No. Purchase(s) of Unit Trust must be made in cash.

 

[Stallone]

swee la, dumped the OCBC360 and opened the multiplier liao, awaiting HR approval to change salary acct

 

[chiokcc]

DBS IBanking put this under "Bank & Earn Summary" liao

 

[TabascoSauce]

u guys think will have promo for opening new acc anot? wonder if i sld wait for promo or sign up now

 

[newdestoria]

For the investment part, is it possible to credit dividend every month?
What is the best way to achieve monthly dividend credit?

 

[wisely98]

one thing about investment, currently on cashback bonus, i have investsaver for sti etf and bond. and i want to switch to multiplier acct. By manually investing in sti etf and bond with cash every month, will it count as investment for multiplier?

 

[highsulphur]

one thing about investment, currently on cashback bonus, i have investsaver for sti etf and bond. and i want to switch to multiplier acct. By manually investing in sti etf and bond with cash every month, will it count as investment for multiplier?

yes if you use cash

 

[Armwrestler]

Here's a stupid question lol.

Ok let's say a person has 30k in normal POSB savings account.
Then set up the multiplier account and just put in the mandatory 3k fee to avoid any fall below fees.
Then monthly salary and credit card spend continues to be through the POSB savings account, so let's say this yields around a 2% interest. But the 2% per annum interest is 2% of that 3k in the multiplier account, and not the POSB savings right?

So logical thing to do is to transfer a more substantial amount of money to multiplier account, instead of just the 3k mandatory amount? to get more absolute interest

 

[Trazora]

Here's a stupid question lol.

Ok let's say a person has 30k in normal POSB savings account.
Then set up the multiplier account and just put in the mandatory 3k fee to avoid any fall below fees.
Then monthly salary and credit card spend continues to be through the POSB savings account, so let's say this yields around a 2% interest. But the 2% per annum interest is 2% of that 3k in the multiplier account, and not the POSB savings right?

So logical thing to do is to transfer a more substantial amount of money to multiplier account, instead of just the 3k mandatory amount? to get more absolute interest

Yes. Bonus interest is on amount in multiplier account

 

[Trazora]

Posb credit card spend also counted hor?

Yes. 10char

 

[heng_ah]

My salary is credited to POSB Savings and I don't intend to change it. If I am to switch to DBS Multiplier, I read from faq that it's still recognised as eligible transaction.

Now, I don't find any stupid fresh fund requirement thingy. So I can safely assume that I can move my existing fund via interbank transfer to DBS Multiplier from POSB Savings in order to enjoy higher interest.

 

[bibu00]

Just closed my ocbc 360 and switched to Dbs.

Can't even get the Save bonus from ocbc 360 nowadays. 200k in the account is just ********.

 

[naro]

My salary is credited to POSB Savings and I don't intend to change it. If I am to switch to DBS Multiplier, I read from faq that it's still recognised as eligible transaction.

Now, I don't find any stupid fresh fund requirement thingy. So I can safely assume that I can move my existing fund via interbank transfer to DBS Multiplier from POSB Savings in order to enjoy higher interest.

Yes. Just need to credit salary into any dbs or posb account.

No fresh funds requirement.

 

[cnotsniw]

For the investment part, is it possible to credit dividend every month?
What is the best way to achieve monthly dividend credit?

Want to know too

 

[cnotsniw]

Yes. Bonus interest is on amount in multiplier account

so, it's like a FD account liao lor.

open MA, park 50k
credit SAL into other dbs/posb a/c and spend at least $1 on posb/dbs cc

 

[cnotsniw]

Just closed my ocbc 360 and switched to Dbs.

Can't even get the Save bonus from ocbc 360 nowadays. 200k in the account is just ********.

Your 200k should go into the HSBC step up account. [refer to hsbc thread]