DBS changed its Mutiplier plan

[reddevil0728]

Hi bros, i am new to this unit trust and invest saver area. I just need to buy unit trust or invest saver to get higher interest? How it works

Did you check out their website?

 

[iduncheckmail]

Of course not. Drop follow the fed because it affects their profit margin. Increase they can take their own sweet time until their competitors increase, then they're forced to increase too because Singaporeans being Singaporeans will move their money into the account with the highest interest rates.

No la, what i'm saying is the FED is the one that dictates their rates, and then most of the developed markets are pegged to this. So now the broad market falls because their interest rate instruments are some way or other linked to the FED rates.

Has competition disappeared during this time? Clearly no. There is still some disparity in the rates between all banks. Has there been a reduction/increase in number of operating banks? no. So competition is a constant and has not changed.

If you or anyone else hopes for rates to change in a step function then its up to Mr Powell. Competition will never do a step change, because if the benchmark is at ~0.6-0.8%, some will offer 0.6% and others 0.8%. There is inherent competition still present.

 

[vsvs24]

It's a matter of competition. If OCBC and UOB increase, then DBS will be compelled to increase.

The 3 local banks are always the first to cut rates and last to increase rates compared to foreign banks.

Can only hope DBS treat DBS multiplier differently given that they gain a lot of investment and insurance due to DBS multiplier and want to continue the trend.

 

[sky00sky]

Yeah ... this month is the 12/12 for the investment part and need to rotate to another and sell in the next 6 months . Which I feel is super stupid

So I wait for the deduction on 15th .
Thereafter I can just buy the new funds correct ?

 

[reddevil0728]

The 3 local banks are always the first to cut rates and last to increase rates compared to foreign banks.

Can only hope DBS treat DBS multiplier differently given that they gain a lot of investment and insurance due to DBS multiplier and want to continue the trend.

Usually last year dbs seems to be always last to cut. So see if they will be the first to increase

 

[reddevil0728]

Yeah ... this month is the 12/12 for the investment part and need to rotate to another and sell in the next 6 months . Which I feel is super stupid

So I wait for the deduction on 15th .
Thereafter I can just buy the new funds correct ?

Why stupid?

Suggest only cancel on the 8th of the following month once interest is in then sign up.

You are entitled to it once deduction is done, just that their system a bit stupid so better to cancel after interest credit

 

[sky00sky]

Why stupid?

Suggest only cancel on the 8th of the following month once interest is in then sign up.

You are entitled to it once deduction is done, just that their system a bit stupid so better to cancel after interest credit

The part that we need to sell the investment .
If we want to use that fund to use as RSP for multiplier next time . I feel this stupid lo

Won’t it be better if we kept the funds ?

 

[demoforce1]

Why stupid?

Suggest only cancel on the 8th of the following month once interest is in then sign up.

You are entitled to it once deduction is done, just that their system a bit stupid so better to cancel after interest credit

how about insurance, should we open a month before? can it be the same insurance?

 

[reddevil0728]

The part that we need to sell the investment .
If we want to use that fund to use as RSP for multiplier next time . I feel this stupid lo

Won’t it be better if we kept the funds ?

Can use other funds ma

 

[reddevil0728]

how about insurance, should we open a month before? can it be the same insurance?

Apparently can be same insurance. Like u can get another cancer care.

Insurance is really about determining when u hit the 12th month.

Cause always 1 month late

 

[babyrobo]

No such thing as “safe”.

To have the least “cost” can probably consider the bond etf since the fee is 0.5%.

Then everytime as soon as it gets credited just sell.

Which one is the bond etf? Thanks!

 

[reddevil0728]

Which one is the bond etf? Thanks!

did you check on the posb/dbs invest saver website?

 

[lzjlee]

Which one is the bond etf? Thanks!

Extracted from DBS FAQ:
SGD Fixed Income ETFs (0.50% transaction fee)
2. ABF Singapore Bond Index Fund
3. Nikko AM SGD Investment Grade Corporate Bond ETF

Bond price have been dropping recently. U can probably sell off immediately once credited as suggested by the other poster for defensive play, especially if u think Bond price will drop further.

 

[reddevil0728]

Extracted from DBS FAQ:
SGD Fixed Income ETFs (0.50% transaction fee)
2. ABF Singapore Bond Index Fund
3. Nikko AM SGD Investment Grade Corporate Bond ETF

I think there are more bond etf selection to choose from when u login to DBS. Bond price have been dropping recently. U can probably sell off immediately once credited as suggested by the other poster for defensive play, especially if u think Bond price will drop further.

what you mean more bond ETF to choose from? did you confuse it with UT?

 

[lzjlee]

what you mean more bond ETF to choose from? did you confuse it with UT?

Oh ya.. edited.

 

[spearhawk]

Apparently can be same insurance. Like u can get another cancer care.

Insurance is really about determining when u hit the 12th month.

Cause always 1 month late

How do you cancel the current cancer care? Can you still get 35% off by reapplying?

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

 

[reddevil0728]

How do you cancel the current cancer care? Can you still get 35% off by reapplying?

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

What you checked out the cancercare website?

 

[zumaba]

For switching from DBS Multiplier to POSB Cashback program

- When will it take effects after the request submitted, the current or next month?

- For the salary credit, CC spending and ETF investment, it will count same as what I have been crediting, spending and investing with the DBS Multiplier account, and no need for any changes, no matter which account I choose as the "Nominated account" for the POSB Cashback program, right?

Thanks!

 

[cassowary18]

For switching from DBS Multiplier to POSB Cashback program

- When will it take effects after the request submitted, the current or next month?

- For the salary credit, CC spending and ETF investment, it will count same as what I have been crediting, spending and investing with the DBS Multiplier account, and no need for any changes, no matter which account I choose as the "Nominated account" for the POSB Cashback program, right?

Thanks!

Current month. For best results apply the day your Multiplier bonus interest is credited (7th working day of the month)

Salary credit, credit card spending no change. I'm not sure about insurance/investment and whether you can continue with what you had for Multiplier. I started a new RSP to fulfill the investment category because previously I fulfilled investment category with DBS Vickers for my Multiplier account.

 

[zumaba]

Current month. For best results apply the day your Multiplier bonus interest is credited (7th working day of the month)

Salary credit, credit card spending no change. I'm not sure about insurance/investment and whether you can continue with what you had for Multiplier. I started a new RSP to fulfill the investment category because previously I fulfilled investment category with DBS Vickers for my Multiplier account.

Thanks!

Any bro can share if the RSP investment for Multiplier plan can still continue to serve for the Cashback program?