DBS changed its Mutiplier plan

[reddevil0728]

I just switched to posb cashback bonus programme and want to unlock the $30 investment bonus. Thinking of setting up RSP but not sure what to invest. Any recommendations? Prefer low risk..thanks!

take your pick

 

[kram62]

Who told you 1.75% is base on historical performance? If you really go and look at the 3 funds historical performance then you will know then past 1 month, past 3 months, past 6 months and past 12 months returns are all above 2%. The 1.75% forward projection is realistic base on yield to maturity.

Well, you answered your question yourself: all of these numbers are "historical performance".

There is no guarantee the funds will continuously perform at the same rate in the future, especially the short term bond which is the one bringing up the blended rate.

 

[lzjlee]

Thanks. Thought of investing in ETF for ABF singapore bond index fund with a lower sales charge.Then I saw DBS having this invest saver promo giving full rebate of up to S$125 on sales charge*. So might as well make full use and choose UT. I filter the lower risk UT and saw 'ABF Singapore Bond Index - SGD - Ydis - Cash'. Is this the same as the ETF one?

 

[saffronsatire]

Sorry if this has been asked before, do insurance premiums charged to dbs cards count towards your spending?

 

[tortoise18]

it depends which tier you're at?

for those with $100k and can meet income + 3 cat, it's 1.2% for $5k transaction (pretty easy to hit with median income) which is still highest amongst the other similar products (uob one, ocbc 360, bonus$aver).

but of course if it's for $50k then maybe it's worth considering the posb cashback bonus which the above posts are discussing about.

am not switching because some targets may be hard to attain (e.g. $20 cashback for card spend @ 0.3% requires $6,667 card spend).

$50k only. So considering g should I change to posb usaye

 

[Trazora]

Sorry if this has been asked before, do insurance premiums charged to dbs cards count towards your spending?

count to dbs multiplier, but not to card points/rebate

 

[reddevil0728]

Thanks. Thought of investing in ETF for ABF singapore bond index fund with a lower sales charge.Then I saw DBS having this invest saver promo giving full rebate of up to S$125 on sales charge*. So might as well make full use and choose UT. I filter the lower risk UT and saw 'ABF Singapore Bond Index - SGD - Ydis - Cash'. Is this the same as the ETF one?

The promo applies to the ETF also what no meh.

 

[reddevil0728]

Sorry if this has been asked before, do insurance premiums charged to dbs cards count towards your spending?

For cc spend yes not for insurance spend.

Whether u get cc points separate matter

 

[reddevil0728]

$50k only. So considering g should I change to posb usaye

Count yourself? Can be counted

 

[lzjlee]

The promo applies to the ETF also what no meh.

Ya. ETF also apply. UT sales charge higher than ETF ma. DBS give 'free gift' so I might as well choose the more expensive one. Haha.. u got any recommendation for UT?

 

[reddevil0728]

Ya. ETF also apply. UT sales charge higher than ETF ma. DBS give 'free gift' so I might as well choose the more expensive one. Haha.. u got any recommendation for UT?

get those lower risk cash funds lor

 

[saffronsatire]

For cc spend yes not for insurance spend.

Whether u get cc points separate matter

count to dbs multiplier, but not to card points/rebate

Ya toward the multiplier, thanks!

 

[hwmook]

Well, you answered your question yourself: all of these numbers are "historical performance".

There is no guarantee the funds will continuously perform at the same rate in the future, especially the short term bond which is the one bringing up the blended rate.

I already told you its not based on historical performance else will be higher. No need to discuss anymore, just keep your money in the bank.

 

[tytyty333]

Multiplier interest in. Just now converted to POSB Cashback Bonus.

Seems like you need to have at least one CC or non-multiplier account for conversion.

After conversion, your Multiplier Account will become My Account immediately.

Yes. I did the same thing. I switched from Multiplier to cashback bonus. Only could choose CC account as credited account. Multiplier account turned to My Account immediately.

However, since did that, I couldn't see "Bank & Earn Summary" anymore.

 

[maumu]

$50k only. So considering g should I change to posb usaye

if $50k then i would probably changed to Singlife or others... 0.8% really is not fantastic to lock up $50k for.

SAYE is good - disciplined savings per month for 24 mths @ 2%. i've both multiplier + SAYE.

not POSB cashback bonus because no way I'm going to spend $6,667 on credit card every month and also I dun have housing loan with DBS, and I dun wanna commit $1k a month just for RSP.

 

[tytyty333]

if $50k then i would probably changed to Singlife or others... 0.8% really is not fantastic to lock up $50k for.

SAYE is good - disciplined savings per month for 24 mths @ 2%. i've both multiplier + SAYE.

not POSB cashback bonus because no way I'm going to spend $6,667 on credit card every month and also I dun have housing loan with DBS, and I dun wanna commit $1k a month just for RSP.

There are some risks to SAYE. For instance, you can't withdraw in 2 years and must credit your salary every month.

BTW, you may also choose posb cashback+SAYE.

 

[TsukiSG]

if $50k then i would probably changed to Singlife or others... 0.8% really is not fantastic to lock up $50k for.

SAYE is good - disciplined savings per month for 24 mths @ 2%. i've both multiplier + SAYE.

not POSB cashback bonus because no way I'm going to spend $6,667 on credit card every month and also I dun have housing loan with DBS, and I dun wanna commit $1k a month just for RSP.

Why need to spend $6,667 on CC and $1,000 on RSP? You just need to spend $0.01 on CC and $100 on RSP to unlock these two category.

Assume someone has $6,667 salary, $0.01 CC spending and $100 RSP, POSB Cashback Bonus will give $22.5 cashback per month ($20 from salary, $3 from ETF RSP minus $0.5 charge). This is equivalent to 0.54% p.a. interest rate for 50k (or 0.27% p.a. for 100k). And he's free to top-up the 50k (or 100k) to Singlife, ELASTIQ or other products to get another 1.0%~1.8% p.a. interests. So total interest rate is 1.54%~2.34% p.a for 50k (or 1.27%~2.07% p.a. for 100k). If the interest rate from Multiplier is lower than this, it's worth to convert.

 

[maumu]

There are some risks to SAYE. For instance, you can't withdraw in 2 years and must credit your salary every month.

which is why i said "disciplined savings"...

i don't foresee I'm changing my salary crediting to another bank for the near future given all the shitty rates everywhere...

 

[maumu]

Why need to spend $6,667 on CC and $1,000 on RSP? You just need to spend $0.01 on CC and $100 on RSP to unlock these two category.

Assume someone has $6,667 salary, $0.01 CC spending and $100 RSP, POSB Cashback Bonus will give $22.5 cashback per month ($20 from salary, $3 from ETF RSP minus $0.5 charge). This is equivalent to 0.54% p.a. interest rate for 50k (or 0.27% p.a. for 100k). And he's free to top-up the 50k (or 100k) to Singlife, ELASTIQ or other products to get another 1.0%~1.8% p.a. interests. So total interest rate is 1.54%~2.24% p.a for 50k (or 1.27%~2.07% p.a. for 100k). If the interest rate from Multiplier is lower than this, it's worth to convert.

you've got a point, meaning the opportunity cost of keeping the $50k/$100k with the bank when it can earn interest elsewhere.

already exceeded the SDIC limit for Etiqa products so not sure about whether to risk putting in more... the fuss with Singlife is its $20k transfer limit per day. oh well... the problem of having too much liquid cash I guess! maybe just refund back to CPF again... lol

btw I think the upper bound you meant is 2.34% (0.54 + 1.8)

 

[DevilPlate]

which is why i said "disciplined savings"...

i don't foresee I'm changing my salary crediting to another bank for the near future given all the shitty rates everywhere...

What if someone lose his/her job?