DBS changed its Mutiplier plan

[Trazora]

Can terminate and redeem? Or should redeem, then terminate? No difference?

TIA ....

Well the 6 months count from the later of the termination and redemption dates. Doesn' t matter terminate or redeem first.

 

[chiokcc]

Thanks .... guess I can do both by end of this week...

 

[reddevil0728]

Thanks .... guess I can do both by end of this week...

Refer to what you have quoted from the website

 

[chiokcc]

Thanks all for the advice .....

 

[streamofmight]

Hi, need to consult everyone here.

I have an existing RSP to buy Nikko AM SGD Investment Grade Corporate Bond ETF. I am now in month 12. I want to switch to another etf.

Before buying this Nikko AM SGD Investment Grade Corporate Bond ETF, I was buying ABF Singapore Bond Index Fund.

If I switch now from Nikko AM SGD Investment Grade Corporate Bond ETF to ABF Singapore Bond Index Fund, will it count as a new investment and trigger another cycle of 12 months, or will it not count anymore since I bought that one before? Please advise. Thanks!

 

[reddevil0728]

Are still holding any ABF units?

i suggest you read the faq On DBS website.

it’s clear about this

 

[streamofmight]

Are still holding any ABF units?

i suggest you read the faq On DBS website.

it’s clear about this

Yes, still holding ABF units.

I read the FAQ a few times but I don't seem to find the answer. Please enlighten me, thank you

 

[reddevil0728]

Yes, still holding ABF units.

I read the FAQ a few times but I don't seem to find the answer. Please enlighten me, thank you

In the website click on “more faq” and search “Can I terminate my existing DBS Invest-Saver and re-purchase so they will be recognised?”

 

[streamofmight]

In the website click on “more faq” and search “Can I terminate my existing DBS Invest-Saver and re-purchase so they will be recognised?”

Thank you for your reply. I found it

 

[Froggyman]

My ETF purchase has reached 12 months in Jan.
From my understanding, can terminate without selling it( hold the eft without further purchase)
Is this method for the termination correct( not to sell)?
https://www.dbs.com.sg/personal/support/investment-ut-rsp-terminate.html

 

[reddevil0728]

My ETF purchase has reached 12 months in Jan.
From my understanding, can terminate without selling it( hold the eft without further purchase)
Is this method for the termination correct( not to sell)?
https://www.dbs.com.sg/personal/support/investment-ut-rsp-terminate.html

Can. But to use back the same etf, you need to sell it and wait 6 months

 

[highsulphur]

I had a RSP for 12 months for 2021 for MBH. I stopped the RSP in Dec 21 and switched to A35 for RSP from Jan 2022. When can I redeem the MBH investment if I wish to RSP MBH in 2023?

 

[Trazora]

I had a RSP for 12 months for 2021 for MBH. I stopped the RSP in Dec 21 and switched to A35 for RSP from Jan 2022. When can I redeem the MBH investment if I wish to RSP MBH in 2023?

need to redeem MBH at least 6 months before the MBH RSP

 

[reddevil0728]

I had a RSP for 12 months for 2021 for MBH. I stopped the RSP in Dec 21 and switched to A35 for RSP from Jan 2022. When can I redeem the MBH investment if I wish to RSP MBH in 2023?

Can I terminate my existing DBS Invest-Saver and re-purchase so they will be recognised?

Can refer to their FAQ in the future.

got example somemore.

 

[highsulphur]

need to redeem MBH at least 6 months before the MBH RSP

So there is no consequences if I redeem them now?

 

[reddevil0728]

So there is no consequences if I redeem them now?

no. just the price you can sell it at.

 

[Obviouslylah]

Anyone who did not recieve qualifying multipler due to failed deduction with dbs deducting it on 20 jan. DBS has assured that it will not affect qualification for tat mth

 

[alex22]

Anyone who did not recieve qualifying multipler due to failed deduction with dbs deducting it on 20 jan. DBS has assured that it will not affect qualification for tat mth

Deduction of what?

 

[Obviouslylah]

Deduction of what?

Posb invest saver scheme

 

[Slowdown]

Last month my RSP hit the 12th months and I need to change to another RSP in order to fulfill for the investment category of my DBS Multiplier. I checked that the money was deducted at the middle of the month before proceeding to terminate my RSP. I then applied for another RSP to recycle a new 12 month.

Come Feb I saw that my investment category was zero and hence I did not get the expected interest rate. Called DBS. Was told that investment category calculated would not be counted as I cancelled the RSP in January. I was recommended to cancel the RSP the following month. DBS performed a manual calculation and gave me the interest that I should have enjoyed. I did comment that it was their program logic gap rather than user problem. The program could have been coded to be more efficiently.

Lesson learnt. Don't cancel your RSP on the 12th month. Do it on the 13th month before the deduction. You can set up your new RSP but don't cancel the current RSP.