DBS changed its Mutiplier plan

[weng0202]

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?

That's the thing, its not for average earners.

If only trading fees cheaper for dbs, then maybe I will trade us market with them. Haha

 

[weng0202]

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?

Not worth the risk lah. Wait the prices drop and you get stuck.

 

[fr33d0m]

The drop is brutal...

Back to Bank of China.

 

[weng0202]

The drop is brutal...

Back to Bank of China.

Expected lah with fed interest dropping. Looking forward to lower interests for my home loan

 

[reddevil0728]

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

Buy on Vickers. Then sell on FSM1

Suggesting how you can sell with cheaper commission unless you plan to hold ~$30k of SGX stocks or sell with vickers that’s more expensive?

Only buy transaction counted

 

[reddevil0728]

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?

1) yes. It’s the funding type. Cash is like a “credit line” have to pay after a few days. “Cash upfront” basically money taken immediately. U can choose at the time of executing the trade

2) explained above. U can sell stocks from CDP via FSM1 at cheaper commission

3) DYODD

4) depends on your risk appetite.

 

[maumu]

1) yes. It’s the funding type. Cash is like a “credit line” have to pay after a few days. “Cash upfront” basically money taken immediately. U can choose at the time of executing the trade

2) explained above. U can sell stocks from CDP via FSM1 at cheaper commission

3) DYODD

4) depends on your risk appetite.

actually i'm a no0b in trading. cos dun like those delays (settlement date = trading date +2 days, etc.) very mafan to track.

not even familiar with things like brokers and their charges... currently with POEMS after RHB Invest kena makan by Phillip. can change broker or have multiple brokers? not familiar with FSM1 although heard about it quite a bit.

wonder if it's worth the hassle to meet the $30k..

 

[weng0202]

I don't think worth it unless you are already actively trading.

 

[reddevil0728]

actually i'm a no0b in trading. cos dun like those delays (settlement date = trading date +2 days, etc.) very mafan to track.

not even familiar with things like brokers and their charges... currently with POEMS after RHB Invest kena makan by Phillip. can change broker or have multiple brokers? not familiar with FSM1 although heard about it quite a bit.

wonder if it's worth the hassle to meet the $30k..

Then probably not.

 

[Cumzilla]

Buy on Vickers. Then sell on FSM1

Suggesting how you can sell with cheaper commission unless you plan to hold ~$30k of SGX stocks or sell with vickers that’s more expensive?

Only buy transaction counted

oh ya, think u mentioned here before. Tot now selling also counted. I only bought via vickers and then using others to sell, may consider opening FSM1 to enjoy the lower commission, thanks.

 

[Sinkie]

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?

For 1 month $205 interest, you make lose more then the DBS multiplier interest

 

[highsulphur]

Don't trade just for the interest. It just doesn't make sense

 

[reddevil0728]

Don't trade just for the interest. It just doesn't make sense

Only make sense if there’s enough room for error

 

[FuNKySoULyBrO]

Anybody with 1-year of Cancercare, able to cancel it, wait 1-mth and re-apply again to clock in for another fresh 12 mths? Not sure will this method work? My cancercare is also coming up to the 1st 12 mth period liaoz....

 

[OngHuatHuat]

Don't trade just for the interest. It just doesn't make sense

Normally I just buy and hold.

 

[reddevil0728]

Anybody with 1-year of Cancercare, able to cancel it, wait 1-mth and re-apply again to clock in for another fresh 12 mths? Not sure will this method work? My cancercare is also coming up to the 1st 12 mth period liaoz....

apparently can add-on. so in the month you are paying your final premium, i.e. the following month being the month it will recognise for the last time. e.g. 12/12 premium paid in Oct 20, 12/12 transaction recognise in Nov 20. u can sign up for a new one in Nov 20, pay premium 1/12 in nov 20, and recognise 1/12 in Dec 20.

 

[kram62]

Normally I just buy and hold.

But the discussion was about being able to reach the highest tier (above $30k transactions per month). For most of us, would be quite infeasible to buy >$20k per month and hold. Thus the questions raised are about buying big amount to fulfill Multiplier criteria, and sell asap to get the cash back.

(just to be clear, I personally also don't think that's worth the hassle, transaction costs and risk.)

 

[saintgtril]

Not much point for me to commit 100/mth to the RSP to hit the investment category for 0.7% on 50k (was 1.5% previously).

Think I'll move my cash over to OCBC to enjoy the 1.03% on first 75k. Luckily I don't use DBS cards much so easy switch.

Hi yukirin92, how did you get 1.03% for OCBC? What product is that? Please share more details. Thanks!

 

[McFadden]

what are the main changes?can anyone summarize? hehe

 

[reddevil0728]

what are the main changes?can anyone summarize? hehe

The screenshot quite clear no?

In short interest rate cut.

Cut how much depends on your tier