DBS changed its Mutiplier plan

[chiokcc]

did you check the statement settings on your internet banking?

I only see "consolidated" option for accounts.

Nevermind, dun waste time to pursue already since can use App to check..

Thanks!

 

[zumaba]

For ETF investment, is it the case that once you missed the investment for one month (due to not enough cash left in the debit account), then the investment plan would become invalid and you need to set up a new one to qualify for investment?

 

[reddevil0728]

For ETF investment, is it the case that once you missed the investment for one month (due to not enough cash left in the debit account), then the investment plan would become invalid and you need to set up a new one to qualify for investment?

Yea seems like it. Faq got state.

 

[sansanjikikut]

Quick question. For interest calculation, Will it take into account usd balances? Assuming balances of 30k sgd and 20k usd, will the % interest be applied to the usd portion as well? Like will it ‘convert’ the usd to sgd and apply the interest %?

thanks.

 

[reddevil0728]

Quick question. For interest calculation, Will it take into account usd balances? Assuming balances of 30k sgd and 20k usd, will the % interest be applied to the usd portion as well? Like will it ‘convert’ the usd to sgd and apply the interest %?

thanks.

Information available on their website.

here you go

https://www.dbs.com.sg/personal/rates-online/multiplier-account.page

 

[Squaredot]

I only see "consolidated" option for accounts.

Nevermind, dun waste time to pursue already since can use App to check..

Thanks!

Only consolidated statement for me too.
Nevermind, we just use app to track

 

[vegavega25]

Just wondering, and a little bit of a rant:

Has anybody else gotten fed up of all the various conditions there are to get a little bit of interest, for *example*, 1.35% p.a. on S$100,000 at DBS? (In particular the ridiculous insurance requirement, and having to put away S$100 into one of those four Invest-saver unit trusts.)

Do the income funds available under Endowus Cash Ultra or Syfe or some other platform^^ qualify as better or good enough places to park money required to be liquid? If SDIC were not a consideration, and assuming the interest credit each month is not a necessity#, doesn't the money there grow in the same ballpark or better as these bank accounts?

^^ If not Endowus, what is a good place to buy into one of those short duration or income funds? Direct purchase / Fundsupermart / through DBS ?

# In theory, one could put the funds into a "Distribution" scheme of the unit trust and not 'Accumulating', to get the dividends quarterly or whenever.

 

[reddevil0728]

Just wondering, and a little bit of a rant:

Has anybody else gotten fed up of all the various conditions there are to get a little bit of interest, for *example*, 1.35% p.a. on S$100,000 at DBS? (In particular the ridiculous insurance requirement, and having to put away S$100 into one of those four Invest-saver unit trusts.)

Do the income funds available under Endowus Cash Ultra or Syfe or some other platform^^ qualify as better or good enough places to park money required to be liquid? If SDIC were not a consideration, and assuming the interest credit each month is not a necessity#, doesn't the money there grow at roughly the same ballpark or better as these bank accounts?

^^ If not Endowus, what is a good place to buy into one of those short duration or income funds? Direct purchase / Fundsupermart / through DBS ?

# In theory, one could put the funds into a "Distribution" scheme of the unit trust and not 'Accumulating', to get the dividends quarterly or whenever.

Well, DBS not a monopoly, anyone can move their money anywhere they prefer. Always got trade off

those income fund very different from banks you knows serve different purpose

 

[GameTheory]

Just wondering, and a little bit of a rant:

Has anybody else gotten fed up of all the various conditions there are to get a little bit of interest, for *example*, 1.35% p.a. on S$100,000 at DBS? (In particular the ridiculous insurance requirement, and having to put away S$100 into one of those four Invest-saver unit trusts.)

Do the income funds available under Endowus Cash Ultra or Syfe or some other platform^^ qualify as better or good enough places to park money required to be liquid? If SDIC were not a consideration, and assuming the interest credit each month is not a necessity#, doesn't the money there grow at roughly the same ballpark or better as these bank accounts?

^^ If not Endowus, what is a good place to buy into one of those short duration or income funds? Direct purchase / Fundsupermart / through DBS ?

# In theory, one could put the funds into a "Distribution" scheme of the unit trust and not 'Accumulating', to get the dividends quarterly or whenever.

I’m also pulling out from DBS multiplier until they bump up the % (might come as interest rates worldwide are slowly inching up)

I’ve done some calculations factoring the insurance and investment fees, Multiplier is only worth IF you can consistently hit 30k tier and has 100K parked inside. If you’re hitting only the 15K tier, you’re better off with endowus ultra or even singlife

 

[cassowary18]

Can consider switching to POSB Cashback Bonus and moving your money elsewhere. I did that at the start of this year.

 

[hwmook]

Can consider switching to POSB Cashback Bonus and moving your money elsewhere. I did that at the start of this year.

Me too, I am getting $90+ with $0 in the account. I am only getting 1.3% PA for keeping $100,000 inside multiplier account and have to meet $30k transactions volume every month. Not worth the effort.

 

[tweeety]

looking for the next invest saver mode to pick from. any suggestions?

 

[reddevil0728]

I’m also pulling out from DBS multiplier until they bump up the % (might come as interest rates worldwide are slowly inching up)

I’ve done some calculations factoring the insurance and investment fees, Multiplier is only worth IF you can consistently hit 30k tier and has 100K parked inside. If you’re hitting only the 15K tier, you’re better off with endowus ultra or even singlife

No one size fits all.

depends on objective.

 

[silverbomb]

Calculate based on your own habits (spendings, investments via IS, salary, loan or insurance) and see whether you're better off using POSB cashback scheme. I'm on Cashback bonus since start of year with the poor multiplier interest rates ongoing and parked it elsewhere in better interest instruments and more investments

 

[reddevil0728]

looking for the next invest saver mode to pick from. any suggestions?

What you mean mode?

 

[micromousez]

Can consider switching to POSB Cashback Bonus and moving your money elsewhere. I did that at the start of this year.

Me too, I am getting $90+ with $0 in the account. I am only getting 1.3% PA for keeping $100,000 inside multiplier account and have to meet $30k transactions volume every month. Not worth the effort.

Yes yes, POSB Cashback Bonus is best.
My monthly "int" received is alot higher compare to DBS Mulitplier

http://compoundingdividendxdividend.blogspot.com/2020/10/earned-14x-more-cashback-in-posb.html

 

[cassowary18]

If I do a BUY transaction on DBS Vickers tomorrow (31 May), will it count to May or June transaction?

 

[reddevil0728]

If I do a BUY transaction on DBS Vickers tomorrow (31 May), will it count to May or June transaction?

Should be June.

cause based on settlement date.

 

[yiwei]

Should be June.

cause based on settlement date.

Thursday buy and settlement on 31st should be counted for May right?

 

[reddevil0728]

Thursday buy and settlement on 31st should be counted for May right?

Should be. Contingent on it really settling on 31