DBS changed its Mutiplier plan

[ixoral]

Dbs multiplier must be giro salary
You can go for uob one or scb supersalary if u want smthg w/o giro salary

Sorry just asking whats the terms for DBS Multiplier account. Does it have to be GIRO-Salary for the eligible for Salary Credit like OCBC 360

It seems my HR changed the payment code from Giro Salary to Payment Transfer at the start of the new financial year so I don't qualify for the bonus in OCBC 360 . Still trying to get some confirmation on that

If DBS Multiplier doesn't care how the salary comes in then it's bye OCBC it was nice knowing you for 5 years.

 

[ashketchum]

Can I ask how long does it take for your investment to reflect in your bank and earn summary? Purchased cash RSP, was deducted on the 15 and actual units credited on the 17th. But the bank and earn summary still shows zero

 

[fun4life]

Just wondering if only I credit my salary into our joint account, will the salary be considered for both mine and my wife's Multiplier plan?

Same for my CDP dividend credited into our joint account, will be counted for both?

 

[Squaredot]

Just wondering if only I credit my salary into our joint account, will the salary be considered for both mine and my wife's Multiplier plan?

Same for my CDP dividend credited into our joint account, will be counted for both?

Counted for both

 

[vegavega25]

Just wondering if only I credit my salary into our joint account, will the salary be considered for both mine and my wife's Multiplier plan?

Same for my CDP dividend credited into our joint account, will be counted for both?

https://www.dbs.com.sg/iwov-resourc...er-programme/DBS Multiplier Programme_FAQ.pdf says:

My joint account holder and I credit our dividends from Central Depository (CDP) into a joint account. We both have our own Multiplier accounts. How will the dividends be recognised?

The combined total dividend credits in that joint account will be recognised.
Example: Michael and Sally have CDP dividend credits (S$800 and S$700 respectively) in a joint DBS account. They both have their own Multiplier Accounts. They are each accorded a total dividend credit amount of S$1,500.

 

[tiertime]

Just wondering if only I credit my salary into our joint account, will the salary be considered for both mine and my wife's Multiplier plan?

Same for my CDP dividend credited into our joint account, will be counted for both?

yes, yes

Can I ask how long does it take for your investment to reflect in your bank and earn summary? Purchased cash RSP, was deducted on the 15 and actual units credited on the 17th. But the bank and earn summary still shows zero

wat is cash RSP?



If i do a contra buy/sell on DBS Vickers, will it be considered as eligible investment for the DBS Multiplier? (e.g. if i guy a sgx stock and sell it in the next few hours)

can this be done using either "Cash" or "Cash Upfront" account?

 

[5408854088]

if do giro donation via the credit card, will that be considered as eligible spent for additional interest?

 

[WoShiPro]

Did DBS have any promotion recently for newly open account? Account was opened in March and i just received cash gift of $20 today but not sure what promotion is that for.

 

[tiertime]

Dun think so..
All my investment are only recorded after T+3

i bought on the 15th, sold on the 17th using "Cash Upfront Account" and saw it reflected in my Bank and Earn on 20th (Sunday)

however when i ask the CSO (asked 3 different CSO) is contra trade considered an eligible investment, all of them said "No"..

if no, then how come it still reflected under my Bank and Earn Summary page

Did DBS have any promotion recently for newly open account? Account was opened in March and i just received cash gift of $20 today but not sure what promotion is that for.

I only know of $20 cashback for credit card application by existing users and $20 NTUC voucher by end May if you do not call in to use the Hotline service

 

[luvalist]

Yes they have new account promo. Multiplier account is counted.
https://www.dbs.com.sg/personal/promotion/online-account-opening

Did DBS have any promotion recently for newly open account? Account was opened in March and i just received cash gift of $20 today but not sure what promotion is that for.

 

[ashketchum]

How long would it take until your credit card spent is updated on the Bank and Earn summary page?

 

[Trazora]

How long would it take until your credit card spent is updated on the Bank and Earn summary page?

once it is posted

 

[Meemoosaa]

I just got contacted by DBS regarding this multiplier plan + RSP tag on (regular savings plan). It sounds like a good savings plan with some life insurance policy tagged on.

$50K minimum to get onto the multiplier and a monthly regular deposit of $500 or more to get onto the RSP plan with some attractive interest rate.

Recommended ? Anyone has any good/bad experiences to share that would be appreciated !

 

[tangent314]

I just got contacted by DBS regarding this multiplier plan + RSP tag on (regular savings plan). It sounds like a good savings plan with some life insurance policy tagged on.

$50K minimum to get onto the multiplier and a monthly regular deposit of $500 or more to get onto the RSP plan with some attractive interest rate.

Recommended ? Anyone has any good/bad experiences to share that would be appreciated !

This sounds like a different plan than the DBS Multiplier Account described by https://www.dbs.com.sg/personal/landing/dbs-multiplier/


$50k is the maximum deposit that will receive the bonus interest, not a minimum deposit


There is no RSP requirements for this, but a monthly RSP will help trigger an additional transaction that will count towards the bonus interest.


What you described sounds more like a saving plan that a deposit account

 

[Meemoosaa]

This sounds like a different plan than the DBS Multiplier Account described by https://www.dbs.com.sg/personal/landing/dbs-multiplier/


$50k is the maximum deposit that will receive the bonus interest, not a minimum deposit

There is no RSP requirements for this, but a monthly RSP will help trigger an additional transaction that will count towards the bonus interest.

What you described sounds more like a saving plan that a deposit account

Oh yes, my bad memory. $50K is the maximum to max the interest and the RSP is an additional offer to further receive more interest plus inclusive of a life term policy and continuous disability savings and payout.

Have you had any experience with the account ?

 

[tangent314]

Oh yes, my bad memory. $50K is the maximum to max the interest and the RSP is an additional offer to further receive more interest plus inclusive of a life term policy and continuous disability savings and payout.

Have you had any experience with the account ?

Yeah, it's pretty good. I've been getting 2.2% monthly for the past few months for the 50k deposits. Salary + Credit Card bills + Invest Saver RSP. A couple of months of 3.5% also when I bought some shares through DBS Vickers. Wasn't expecting that but it was nice.

 

[swordsly]

Yeah, it's pretty good. I've been getting 2.2% monthly for the past few months for the 50k deposits. Salary + Credit Card bills + Invest Saver RSP. A couple of months of 3.5% also when I bought some shares through DBS Vickers. Wasn't expecting that but it was nice.

What are you going to do after the 12 consecutive months?

 

[tangent314]

What are you going to do after the 12 consecutive months?

What happens after 12 months?

 

[oleyAeon]

What happens after 12 months?

buy another fund under RSP, or simply so some trades through DBS vickers.
if u are a frequest trader on DBS vickers, then you will keep getting 3.5% which is not bad comparing to other savings account.

 

[swordsly]

What happens after 12 months?

Quoted from here:
Q7) How will my investment in Unit Trusts be recognised?
Lump Sum Investments will be recognised once for each adhoc contribution you make to an investment
fund.
Regular Savings Plans and POSB Invest Saver will be recognised for the first 12 consecutive months when
you make contributions to an investment fund.

buy another fund under RSP, or simply so some trades through DBS vickers.
if u are a frequest trader on DBS vickers, then you will keep getting 3.5% which is not bad comparing to other savings account.

I don't know about buying a fund just for the sake of that 0.15% p.a interest...