DBS changed its Mutiplier plan

[havetheveryfun]

I dont think the intention of MAS (or anyone) is for any of the digibanks to disrupt and displace any of our big 3 - its a big systemic issue if it does.

I think what they want to is not disrupt, but introduce competition so that more innovation can take place.

Just like how the 3 telcos have monopolized for years, until they realize it was not the way going forward and hence try to introduce many new telcos to breed more competition.

They have seen how monopolies have caused many GLCs to become complacent and fall one by one.

 

[fr33d0m]

Its perhaps a test if a pure digital and lean setup e.g. 100 staff (or less), minimal real estate (and physical security) cost due to no branch/no atm, QR based POS (stickers rather than card reading terminals), etc can mean more savings to customers (loans, deposits perhaps fx and investments even) and overall efficiency gains.

lean, in most cases, means cutting corners.

credit risk analysis and regulatory compliance(anti ML, terrorist financing, etc) requires manpower, it is not all fully automatic.

frankly, the larger banks have more money to invest in "big data" and machine learning to automate the process of credit risk and regulatory risk.

 

[fr33d0m]

I think what they want to is not disrupt, but introduce competition so that more innovation can take place.

Just like how the 3 telcos have monopolized for years, until they realize it was not the way going forward and hence try to introduce many new telcos to breed more competition.

They have seen how monopolies have caused many GLCs to become complacent and fall one by one.

that's not true.

When M1 and Starhub first started, there were competition and Singtel had to cut price.

What happened later is just natural progression when there are only so few players.

It will happen again when the market is stable.

 

[reddevil0728]

that's not true.

When M1 and Starhub first started, there were competition and Singtel had to cut price.

What happened later is just natural progression when there are only so few players.

It will happen again when the market is stable.

Ya lor. Hence steady state will be boring.

But when they first launch and try to capture market share. Pretty sure got a lot of good deals

 

[TehSi99]

How about SAYE account to replace multiplier?

 

[Trazora]

How about SAYE account to replace multiplier?

SAYE only for max $3000 savings per month.

 

[TiedInsurer]

How about SAYE account to replace multiplier?

They credit you the 2% interest once every 6mths. You have to put the fixed amount in every month, for 6mths, and make no withdrawals, to get the interest.

So this thing is not fully liquid, and also you can't put in the lump sum you wanna generate interest on, on day 1.

 

[demoforce1]

I think what they want to is not disrupt, but introduce competition so that more innovation can take place.

Just like how the 3 telcos have monopolized for years, until they realize it was not the way going forward and hence try to introduce many new telcos to breed more competition.

They have seen how monopolies have caused many GLCs to become complacent and fall one by one.

agree on this "many GLCs to become complacent and fall one by one"
why GLC never learn, see what happened with NOL, once acquired, the company back to green in a year

 

[demoforce1]

No. 10char

if you use paylah and check B&E, it is add up

 

[cassowary18]

if you use paylah and check B&E, it is add up

If you only use income + paylah it will be included because you fall under that category.

 

[TehSi99]

SAYE only for max $3000 savings per month.

Yes. But that would be $3000 x 24 = $72,000 in two years.

Seems to run out of options..

 

[Trazora]

Yes. But that would be $3000 x 24 = $72,000 in two years.

Seems to run out of options..

still need somewhere for the rest of the money on hand. anyway dbs multiplier still quite good.

 

[stylechap]

Yes. But that would be $3000 x 24 = $72,000 in two years.

Seems to run out of options..

The interest is tabulated monthly then credited every 13th month.
If you got 2 years then probably dca or lumpsum in some dividend stocks or etf might be better

 

[hwmook]

Just want to know, how long the Manulife will reply the email after sent the email to inform them to cancel insurance plan?

Posted with iPhone HardwareZone Forums app

Next working day for me.

 

[IronMan123]

Next working day for me.

Noted. Thanks.

Posted with iPhone HardwareZone Forums app

 

[Rayleigh1]

For total eligible transactions of ≥S$15,000 to <S$30,000 and if I'm able to fulfil Income + transactions in 2 categories, the current interest rate is 1.9% pa. Is the 1.9% made up of base interest + bonus interest for jumping through the hoops? Or is 1.9% entirely bonus interest and there's still additional base interest of 0.05%? Thanks.

 

[reddevil0728]

For total eligible transactions of ≥S$15,000 to <S$30,000 and if I'm able to fulfil Income + transactions in 2 categories, the current interest rate is 1.9% pa. Is the 1.9% made up of base interest + bonus interest for jumping through the hoops? Or is 1.9% entirely bonus interest and there's still additional base interest of 0.05%? Thanks.

Just 1.9%...

 

[reddevil0728]

I'm thinking of stopping (not redeeming) my invest saver in Jan 2021, which I've started in Jul 2020 (i.e. 6 months only). If for some reason I plan to restart the invest saver (same fund), it will no longer count towards 'investments' correct?

apparently so

 

[Squaredot]

For total eligible transactions of ≥S$15,000 to <S$30,000 and if I'm able to fulfil Income + transactions in 2 categories, the current interest rate is 1.9% pa. Is the 1.9% made up of base interest + bonus interest for jumping through the hoops? Or is 1.9% entirely bonus interest and there's still additional base interest of 0.05%? Thanks.

Total 1.9%
0.05% credited end of the month, 1.85% credited on 7th of the following month (P/s: can only see it on 8th)

 

[Chua Zhiming]

Need to shift the money from Jan onwards...how is POSB SAYE? for 1k monthly savings will get base interest of 0.25% and 2% after 1st year and 2nd year.