DBS changed its Mutiplier plan

reddevil0728

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do you understand why rates are falling or not?
It has nothing to do with competition or lack thereof.
new entrants usually want to be garang and aggressive with their offers. so wouldn't be surprise they may want to offer some interesting interest rates to attract customers.
 

RedsYWNA

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new entrants usually want to be garang and aggressive with their offers. so wouldn't be surprise they may want to offer some interesting interest rates to attract customers.

I expect Sea and Grab to give 2% min on cash deposits when they launch in 2022. Haha
 

RedsYWNA

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do you understand why rates are falling or not?
It has nothing to do with competition or lack thereof.

I know exactly what I am talking about. Just wait for the DB launch by Sea and Grab and check back on this post then.

In the meantime, you may want to check out the experiences of other countries with digital banking launches.

Shopee pay (2% rebate offline) has already given an indication of what Sea will do to capture the banking space.
 

maumu

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new entrants always want to grab market share by rolling out unsustainable rebates/rewards/freebies. they get cash from those capitalists and burn them... once finished, either get more cash, or cut back on their incentives.

just look at how all the new startups roll out their features in the early days (grab, uber, ofo, mobike, gomo, giga, etc.).

so i expect the 2 new full-banking entries to come up with a eye-catching interest rate, especially for early birds, at the expense of burning away those cash raised from invested capitalists.

low or high interest rates environment just tells us what's their bottom line... a pity it's low now, so they don't need to set too high a rate to entice new customers. but 2% sounds realistic (for them)... can only wait and see.
 
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iduncheckmail

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I know exactly what I am talking about. Just wait for the DB launch by Sea and Grab and check back on this post then.

In the meantime, you may want to check out the experiences of other countries with digital banking launches.

Shopee pay (2% rebate offline) has already given an indication of what Sea will do to capture the banking space.

Are you 12?
Pls lah. Do some study on the interest rate market . Globally the rate market has been affected by the FED and the stimulus.
Competition ? The most give you 0.1-0.2% higher. The global rates fall they also have to fall.
 

iduncheckmail

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new entrants usually want to be garang and aggressive with their offers. so wouldn't be surprise they may want to offer some interesting interest rates to attract customers.

U taking about new entrants offer higher than existing.
I’m saying overall interest rate declines across the months , across the market since FED drop us treasury rates .
One taking chicken one talking monkey
 

reddevil0728

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Are you 12?
Pls lah. Do some study on the interest rate market . Globally the rate market has been affected by the FED and the stimulus.
Competition ? The most give you 0.1-0.2% higher. The global rates fall they also have to fall.

U taking about new entrants offer higher than existing.
I’m saying overall interest rate declines across the months , across the market since FED drop us treasury rates .
One taking chicken one talking monkey
I think you are the one who’s missing the point?

Poster originally started talking about giving incumbents competition which is a perfectly fair comment. Fair competition be in the form of higher interest rates or various perks to attract customers. You are the one who went sideways and started talking about interest.
 

TiedInsurer

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Did a bit of research on the bus this morning. My strategy to maximise my gains on my fully liquid cash holdings will be as follows:

1. Keep first $3k in Multiplier, for ease of withdrawal, no fees, and save hassle of updating my bank accounts with 101 people and organisations i do business with. Won't bother to close it, as banks seems to be changing their T&Cs every 3mths nowadays...
2. Continue to keep next $10k in Singlife for 2%.
3. Continue to keep next $10k in Gigantiq for 2%.
4. Signup for Dash Easyearn, and put in next $20k for 1.8%.
5. Any excess, put into Singlife for 1%.

After that, pick the option to stop earning interest on my Multiplier, and start earning cashback instead, so that i can still get money on my salary credit, card spends, and investment.
https://www.posb.com.sg/personal/deposits/bank-earn/cashback-bonus
 

RedsYWNA

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The most give you 0.1-0.2% higher. The global rates fall they also have to fall.

Singtel-Grab and Sea going to raise S$1.5 billion capital each to give consumers 0.2% higher interest? LOL.

You really have no idea how this game is being played. MAS already knows, hence it expects the digital banks not to make money for the first 5 years, but just needs to show a path towards profitability.

As end consumers, its to our advantage to play the game too, which I estimate can last for at least 3 years.
 

maumu

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sooner or later thing lor. dun need me to jinx.

just a matter of how long they can defy gravity

but they recently merged with aviva leh. so should have greater lasting power with more capital now? that could hold the rate for at least some more time to go bah...
 
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