DBS changed its Mutiplier plan

[yiron]

Endowus?

Cash Core / Enhanced? Got to take a bit of marjet risk though. But yea, with bank rates as low as they are, might make sense to divert a portion to Endowus Cash.

 

[Perisher]

Cash Core / Enhanced? Got to take a bit of marjet risk though. But yea, with bank rates as low as they are, might make sense to divert a portion to Endowus Cash.

Up2u. Always good to understand the product you wanna put your money in.
Mine is in enhanced. So far so good.

 

[s0tong]

Wth.. time to look at FD?

 

[cassowary18]

Wth.. time to look at FD?

Have you seen FD interest rates? 0.50% is the norm.

 

[MrAppleCrumble]

Wth.. time to look at FD?

Want something safe and secure. Rather go for endowments than FD. Of course liquidity must not be the priority

 

[micromousez]

From ocbc to boc+uob one+posb cashback to dbs multiplier+singlife, now where should I switch to? Probably Posb cashback (for mortgage, cc, investment and maybe salary) and singlife, but still need a bank account for some cash with decent interest.

This POSB cashback acc review look good
1) https://compoundingdividendxdividend.blogspot.com/2020/08/switched-from-dbs-multiplier-to-posb.html
2) https://sethisfy.com/review-posb-cashback-bonus/

 

[Sinkie]

If you don’t want to clock the transaction for Jan, u need to cancel before they deduct the premium in Dec.

Dec premium is for jan

How to cancel cancercare?

 

[reddevil0728]

How to cancel cancercare?

https://www.dbs.com.sg/personal/insurance/protection/protection-plans/cancercare

refer to FAQ on website.

 

[MrAppleCrumble]

How to cancel cancercare?

Nah spoon feed for you


How can I terminate my policy?
No, this product does not have cash value or surrender value as it is a pure protection plan. You may write in to service@manulife.com to terminate your policy.

 

[havetheveryfun]

why cancel ?

insurance portion still help to clock 3rd category to unlock additional 0.7% interest on next 50k which is 350 a year = around 29 a month. so if ur policy 10 dollar or less still worth it ? Unless my maths is wrong ?

 

[highsulphur]

why cancel ?

insurance portion still help to clock 3rd category to unlock additional 0.7% interest on next 50k which is 350 a year = around 29 a month. so if ur policy 10 dollar or less still worth it ? Unless my maths is wrong ?

Precisely. Its free insurance for me

 

[weng0202]

From Jan will adjust interest downwards again.

 

[Sinkie]

Can check is my understanding right?

If I only have salary + 2 categories, i just put $50,000 will do, and from January, my $50,000 will only have 2% if I fulfil salary + 2 categories

If I am able to fulfil salary + 3 catagories, better for me to put $100,000 as I will get $50,000@2% and $50,000@3%, which is around 2.5% pa vs the current 3.33%?

So from jan onward, for $100,000 and salary + 3 cat, the interest will drop from $275 to $208?

 

[cassowary18]

Can check is my understanding right?

If I only have salary + 2 categories, i just put $50,000 will do, and from January, my $50,000 will only have 2% if I fulfil salary + 2 categories

If I am able to fulfil salary + 3 catagories, better for me to put $100,000 as I will get $50,000@2% and $50,000@3%, which is around 2.5% pa vs the current 3.33%?

So from jan onward, for $100,000 and salary + 3 cat, the interest will drop from $275 to $208?

Correct assuming you can hit the highest tier. That's $30K in transactions per month. Most average sinkies can't hit anywhere near.

 

[chiokcc]

Expected DBS Multiplier to cut bonus interest rates, just a matter of when.

So, for 4 categories and $100k deposit, instead of max ~$275 a month, cut to ~$206 a month....

 

[maumu]

Correct assuming you can hit the highest tier. That's $30K in transactions per month. Most average sinkies can't hit anywhere near.

i wonder how average earners can hit $30k a month. any tips to share? read something about buying and selling funds within a day... how does it work?

 

[reddevil0728]

Correct assuming you can hit the highest tier. That's $30K in transactions per month. Most average sinkies can't hit anywhere near.

Transactions don’t necessary mean cash outflow ma.

Can always buy on vickers (and sell on FSM1). U may not lose a lot also. May also gain

 

[reddevil0728]

i wonder how average earners can hit $30k a month. any tips to share? read something about buying and selling funds within a day... how does it work?

Explained above.

 

[Cumzilla]

Transactions don’t necessary mean cash outflow ma.

Can always buy on vickers (and sell on FSM1). U may not lose a lot also. May also gain

u mean sell on FSM1 falls under investment? Tot selling not counted, only buy...

 

[maumu]

Transactions don’t necessary mean cash outflow ma.

Can always buy on vickers (and sell on FSM1). U may not lose a lot also. May also gain

thanks. so...
1. setup a vickers account (cash upfront account? or cash account? what's the difference?)
2. why buy on vickers and sell on FSMone? they are connected?
3. what kind of funds/shares you guys buy (i supposed with low volatility...)?
4. buy/sell within the same day?