DBS changed its Mutiplier plan

[ixoral]

RSP (investsaver) deduction is every 15th of the month. So this criteria will only work for u in August

Only thing I can think of is that I bought RSP on 16 Jul. would it count for this month? Since it hasn't been a full month since

I definitely bought the RSP after opening the account, so I should at least have salary + 1 category

 

[LuckyPockets]

My salary is also using GR code, so that's not an issue.

So how do they calculate the interest anyway?

(Amount in bank X percentage)/12, and this is calculated every month?

 

[Buzy_bee]

My salary is also using GR code, so that's not an issue.

So how do they calculate the interest anyway?

(Amount in bank X percentage)/12, and this is calculated every month?

Yes. Only the balance in dbs Multiplier account is taken into consideration in the interest calculation.

 

[Perisher]

If every month there are dividends coming in to my posb account, not the multiplier account, does it count?

The dividends are from other brokerages but credited into POSB savings account. It’s from cdp crediting.

From what I read off the faq, as long as it’s cdp into dbs accounts it should count.

 

[chiokcc]

If every month there are dividends coming in to my posb account, not the multiplier account, does it count?

The dividends are from other brokerages but credited into POSB savings account. It’s from cdp crediting.

From what I read off the faq, as long as it’s cdp into dbs accounts it should count.

Counted as long as your POSB acct is the reference acct, which should also be where your salary is credited.

I buy/own different share counters to ensure I have at least one dividend coming in per month to satisfy the "investment" component.

 

[Trazora]

Counted as long as your POSB acct is the reference acct, which should also be where your salary is credited.

I buy/own different share counters to ensure I have at least one dividend coming in per month to satisfy the "investment" component.

what reference acct? thought dividend across all his posb/dbs account will count

 

[Perisher]

Counted as long as your POSB acct is the reference acct, which should also be where your salary is credited.

I buy/own different share counters to ensure I have at least one dividend coming in per month to satisfy the "investment" component.

Huh? Thought salary crediting must be to multiplier so don’t need also?

 

[Perisher]

what reference acct? thought dividend across all his posb/dbs account will count

That’s what I think too. Not sure if need to have DBS vickers.

 

[Trazora]

Huh? Thought salary crediting must be to multiplier so don’t need also?

salary crediting can be in any of your posb/dbs account

 

[Perisher]

salary crediting can be in any of your posb/dbs account

Oh, swee. So the multiplier account is simply taking everything regardless what account.

 

[chiokcc]

what reference acct? thought dividend across all his posb/dbs account will count

Oh OK. All my transactions (SAL, CDP, etc.) are done in only one DBS/POSB acct, so I only have "experience" with one "reference" acct ....

 

[superguy276]

Interest

Hi, how much did you all receive for the 1.9% tier for 50k ADB. the interest seemed slightly off. Receive only around 60sgd instead of around 80sgd. Anyone got same problem?

 

[zSpiraL]

Hi, how much did you all receive for the 1.9% tier for 50k ADB. the interest seemed slightly off. Receive only around 60sgd instead of around 80sgd. Anyone got same problem?

Mutiplier bonus interest not based on ADB. Bonus is computed daily based on 50k in account. Daily bonus interest is then sum up.

 

[oinkoink1999]

Not sure if this qn has been asked before, is joint ac counted as total deposit for interest computation?

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[FuNKySoULyBrO]

Huh? Thought salary crediting must be to multiplier so don’t need also?

Guess what, even my rm doesn't know this too.... She was surprised when I told her for multiplier, salary can be deposited into any POSB/DBS accts....

 

[Trazora]

Not sure if this qn has been asked before, is joint ac counted as total deposit for interest computation?

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only balance in dbs multiplier account counted

 

[oinkoink1999]

only balance in dbs multiplier account counted

Thanks bro. Got it

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[a4973]

Mutiplier bonus interest not based on ADB. Bonus is computed daily based on 50k in account. Daily bonus interest is then sum up.

Which means if even 1 day less than 50k cannot make up by depositing more than 50k for a few days right?

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[Trazora]

Which means if even 1 day less than 50k cannot make up by depositing more than 50k for a few days right?

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yes. correct.

 

[Slowdown]

The best to do with DBS Multiplier is to treat it as an dormant account. Put 50K inside and don't touch it. As mentioned by others our salary does not need to be put into this acct. My DBS Multiplier acct do not have any transaction posting other than the two interest payment coming into the acct.

I don't even bothered to take out the interest. I am planning to take out the interest once a year making this acct acting like a FD.

Which means if even 1 day less than 50k cannot make up by depositing more than 50k for a few days right?

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