DBS changed its Mutiplier plan

[maumu]

honestly, the returns for this endowment not very attractive... some more lock 3 or 4 years..

we usually buy this (with min. required amount) just to unlock the insurance category for multiplier. I think just $5k

 

[iadpotato]

the thought of 5k locked for 3 or 4 years don't really appeal to me.. some more the insurance category unlock for 1 year only... i feel that the 5k can get better returns else where..

i think its better off just buying some cheap term insurance to unlock the insurance category..

 

[sglandscape]

the thought of 5k locked for 3 or 4 years don't really appeal to me.. some more the insurance category unlock for 1 year only... i feel that the 5k can get better returns else where..

i think its better off just buying some cheap term insurance to unlock the insurance category..

If you know where to get better equally safe returns for 3 years do share, have tried looking hard but found none so far.

 

[iadpotato]

If you know where to get better equally safe returns for 3 years do share, have tried looking hard but found none so far.

For a start, Maribank and SIF give 1.88% no lock in. No doubt the rate may change at anytime, but at least no lock in of 3-4 years… Oh and for the record, the rate change could change upwards also.

 

[sglandscape]

For a start, Maribank and SIF give 1.88% no lock in. No doubt the rate may change at anytime, but at least no lock in of 3-4 years… Oh and for the record, the rate change could change upwards also.

This is not even an equivalent comparison, especially when rates are dropping fast, because the 1.88% unlikely to even last 3 more months, especially considering where SORA is at in the recent few weeks.

 

[iadpotato]

This is not even an equivalent comparison, especially when rates are dropping fast, because the 1.88% unlikely to even last 3 more months, especially considering where SORA is at in the recent few weeks.

No one can guarantee 3-4 years down the road the rates will still be low or drop even more.

 

[sglandscape]

No one can guarantee 3-4 years down the road the rates will still be low or drop even more.

That is why people consider if they want to lock in the rates for longer term today. You not knowing what rates will be 3-4 years down the road doesn't mean there isn't a rate you'll be happy with to lock in for that long today.

 

[sglandscape]

There is no right or wrong choices/answers cos financial planning or choices is very personal.

iadpotato is an expert himself, he is not wrong to consider 3/4 years vs benefit to lock only 1 year for multiplier, I think the same as him. Others might think it is worth it!

Then, there is more than 1 choice for people to choose what is best for them! I choose not to unlock insurance, still can get more than 4%pa multiplier interest.

No right or wrong, is a personal choice, personal satisfaction!

Was a general discussion for lock in, not specific for Multiplier, and just sharing how it think about it, unlocking insurance aside. You have DBS housing loan? If not difficult, need to do either.

 

[maumu]

as long as it's principal guaranteed, just put in min. sum and shortest tenure, i.e. $5k @ 3 years.

 

[saintgtril]

yes... they don't accept non-DBS SRS accounts. mine is also UOB and they told me before they only accept DBS SRS.

LL have to use cash...

How come there is no option to pay by SRS for SavvyEndowment 21 though website stated it can be used? My SRS account is with UOB, is this the reason?

Hey both, what is the advantage of using SRS? Thanks in advance.

 

[maumu]

Hey both, what is the advantage of using SRS? Thanks in advance.

no need to touch cash, can use cash for other opportunities.

SRS also 'rotting' with 0.05% pa. if not utilised.

 

[iadpotato]

no need to touch cash, can use cash for other opportunities.

SRS also 'rotting' with 0.05% pa. if not utilised.

My srs all whack blue hips and REITs. SRS is the only account I hoping to see $0 balance haha!

 

[maumu]

My srs all whack blue hips and REITs. SRS is the only account I hoping to see $0 balance haha!

yeah you're right.. SRS balance should be $0 or as low as possible. but not many people would want to play into equities and REITS. wish govt can allow SRS to be used for more products like FDs which are much lower risks. after all, it's meant to be for retirement.

 

[iadpotato]

yeah you're right.. SRS balance should be $0 or as low as possible. but not many people would want to play into equities and REITS. wish govt can allow SRS to be used for more products like FDs which are much lower risks. after all, it's meant to be for retirement.

yeah, my srs balance now is $350+ due to dividends income... see liao very gao weh... lol

for me, sgx blue chips are relatively safe with pretty decent (or some even good) returns.

 

[fr33d0m]

yeah you're right.. SRS balance should be $0 or as low as possible. but not many people would want to play into equities and REITS. wish govt can allow SRS to be used for more products like FDs which are much lower risks. after all, it's meant to be for retirement.

no need go to such extreme. If you can buy the same for less, even with 0.05%, you can still be ahead.

price is also very important in addition to the 0.05%.

 

[saintgtril]

My srs all whack blue hips and REITs. SRS is the only account I hoping to see $0 balance haha!

no need to touch cash, can use cash for other opportunities.

SRS also 'rotting' with 0.05% pa. if not utilised.

yeah you're right.. SRS balance should be $0 or as low as possible. but not many people would want to play into equities and REITS. wish govt can allow SRS to be used for more products like FDs which are much lower risks. after all, it's meant to be for retirement.

yeah, my srs balance now is $350+ due to dividends income... see liao very gao weh... lol

for me, sgx blue chips are relatively safe with pretty decent (or some even good) returns.'

Hi all, then if the interest is not that attractive to begin with + trying to maintain a zero srs amount, why do you all open this srs account in the first place. Thanks in advance!

 

[reddevil0728]

Hi all, then if the interest is not that attractive to begin with + trying to maintain a zero srs amount, why do you all open this srs account in the first place. Thanks in advance!

Want to pay less taxes?

 

[iadpotato]

Hi all, then if the interest is not that attractive to begin with + trying to maintain a zero srs amount, why do you all open this srs account in the first place. Thanks in advance!

We love playing challenging games. Like back in the 80s trying for hours or days to make that jump in Super Mario World.

 

[pteng]

does paylah need to be link to the multiplier account to be counted as eligible transaction? or any dbs/posb account is ok?

 

[maumu]

does paylah need to be link to the multiplier account to be counted as eligible transaction? or any dbs/posb account is ok?

any dbs/posb is okay.