DBS changed its Mutiplier plan

[item2sell]

I heard the dividend credited will be counted as investment. I am still building my ssb. Will only know Jan 2019.

that's true. SSB dividends is considered as investment.
stocks dividends also considered as investment.

 

[engshing]

for the SSB, it also got dividend? it is given out every half year?
hence need 6months consecutive SSB to get dividend every month to trigger the investment category?

 

[LionPlushie]

anyone combo dbs multiplier with posb saye?

possible to get rates similar to byob with saye right?

oh just saw that people doing that since byob times liao.

means i still lugi 2% from paylah for missing out lol.

 

[vddgnd]

SSB minimum amount is $500. Not sure what this $3k minimum is.

I think it means 6 months x$500 = $3k to put in SSB.

 

[shpesft]

I think it means 6 months x$500 = $3k to put in SSB.

Ahhh. No wonder. I was wondering when did DBS stipulate this minimal sum for SSB

 

[Buzy_bee]

Ahhh. No wonder. I was wondering when did DBS stipulate this minimal sum for SSB

Same. Wonder what's this min sum

 

[Just a nobody]

I think it means 6 months x$500 = $3k to put in SSB.

Seems workable. Gg to apply for multiplier account now.

 

[Tanukichi]

just got a $5 Promo Cash Reward to my multiplier. anyone knows what this is for?

 

[Buzy_bee]

just got a $5 Promo Cash Reward to my multiplier. anyone knows what this is for?

Did u register for Facebook promo? The Burrow Facebook group

Link to register is here go.dbs.com/theburrow-form

Free $5 until 31 Dec 2018.

 

[kurt111494]

Did u register for Facebook promo? The Burrow Facebook group

Link to register is here go.dbs.com/theburrow-form

Free $5 until 31 Dec 2018.

Must join the Burrow on Facebook first then can register for the promo right?

 

[Tanukichi]

Strange. I already received the $5 for joining The Burrow page a few months back. This might be a promo i am unaware of.

 

[ixora2007]

Received 20 dollars as gift yesterday for opening the multiplier account online

how long does it take for them to credit the gift?

 

[lance88]

Is there a way to auto reload an ezlink card(that isnt a credit card)?

I just gotten the DBS Live Fresh card, is there any way can track the amount purchase per each category? (Online and paywave/contactless)

 

[Trazora]

Is there a way to auto reload an ezlink card(that isnt a credit card)?

I just gotten the DBS Live Fresh card, is there any way can track the amount purchase per each category? (Online and paywave/contactless)

Register ezreload here, choose the link that suits your source of fund
https://www.ezlink.com.sg/ez-reload-auto-top-up

Manual track based on transaction details in ibanking/digibanking

 

[Rxgn]

my salary credit to posb esaving account
my dbs credit card use monthly

so just open multiplier account and park 3k inside to prevent the $5 monthly fee

then the interest ard 2% monthly will go into multiplier account?

 

[lance88]

my salary credit to posb esaving account
my dbs credit card use monthly

so just open multiplier account and park 3k inside to prevent the $5 monthly fee

then the interest ard 2% monthly will go into multiplier account?

yes. the interest % is dependent on your transaction amt/mth.

 

[DerekTsang]

Hi all,

Seeking for some advice here.

Recently I opened the multiplier account, i wanted to hit the "Investment" category but I have subscribed to the POSB invest saver monthly for both A35 and G3B last year. Understand from the web, in order for my monthly contribution to count towards "Investment" category, I have to stop both subscription, sell all my holdings, and wait for 6 months!

What bother me is that:
i) I am not really want to sell all my shares especially the price for G3B is not really good now.
ii) Even if i really re-subscribe after 6 months time, the monthly contribution will only counted for 12 months, after that I will need to sell all and re-subscribe again?
iii) Considered that we can hit the "investment" category using SSB bond ladder, but that will need a minimum 3k (6months x minimum 500 per SSB). The 3k will earn higher interest if I put inside multiplier account instead of using it to buy the SSB.

I ve tried talked to the bank staff, but they seems not understand the multiplier account and ask me to buy their investment product instead.

 

[EarthlyTreasure]

iii) Considered that we can hit the "investment" category using SSB bond ladder, but that will need a minimum 3k (6months x minimum 500 per SSB). The 3k will earn higher interest if I put inside multiplier account instead of using it to buy the SSB.

You will need to trade off higher rates for the $3k set aside in SSB vs Multiplier, to build your $3k SSB ladder. Update CDP to credit SSB interest to your joint savings POSB account so your joint partner also qualify for “investment” category, if partner has own Multiplier acc. Suggest Salary also credit to similar joint POSB savings acc.

May be u can buy EXTRA $500 SSB for the initial next 4 months, so u can redeem $500 SSB monthly for the following next 4 months (on last day of redemption) so that capital and accrued interest will be credited to joint POSB savings. Just need to spend $2 monthly for SSB redemption; this may cut short SSB ladder benefits waiting time to 2 months instead of 6 months. Do your own simulation to see if your higher interest in Multiplier can cover the $2 SSB redemption.

Can other Gurus here comment if this work?

 

[mirage_77]

Like to check with others here;
I have checked with the Bank Rep that sold me the Manulife-DBS investment (RetireReady Plus) and helped opend the Multiplier account in Jun 18;

1) I thought I remb he said to gain most out of Multipier account requires 3 x Transactions (Banking in Salary, Credit Card spend and any tied-in investment product with DBS) with an effective 2.2% interest per annum.

2) My Manulife payment is paid one lump sum every year for X no of years.

3) Thus far, I log into the DBS website and I see that investment value is always $0. Salary + Credit card spend for Aug and Sep thus far will entitle me either 1.9% or 1.85% depending if the total is over $5000. When I ask the agent subsequently on the phone, he keep telling me that the interest is correct.

Therefore my questions

a) In my scenario, am I suppose to get 2.2% or 1.9% interest? Cos when I see the "Save and Earn" graph in DBS banking account the next jump is 2% at $15k (which I definitely wont qualify).

b) By paying annual premium rather than monthly, could it affect my monthly interest rate).

TIA.

 

[swordsly]

iii) Considered that we can hit the "investment" category using SSB bond ladder, but that will need a minimum 3k (6months x minimum 500 per SSB). The 3k will earn higher interest if I put inside multiplier account instead of using it to buy the SSB.

Or you can look at it this way:
You're using these 6 "$500" SSB coupons (which still gives you a decent interest compared to multiplier) to ensure that the rest of your money in your Multiplier gets a better interest rate (assuming you satisfy all the other necessary requirements) for as long as DBS does not change the Multiplier mechanics.

You don't get to define the rules set by DBS.

If you prefer to continually be bothered, your $3k (6x $500) is not going to earn higher interest in your Multiplier if you cannot satisfy the necessary requirements. You may choose other products/accounts that suit you more instead.

How about that?