DBS changed its Mutiplier plan

[fitzz82]

Just open this account also. much better than the ocbc360

Actually, depends on how much u hav in e bank.
1.5% for 70k is higher den 1.85% for 50k.

 

[Squaredot]

Actually, depends on how much u hav in e bank.
1.5% for 70k is higher den 1.85% for 50k.

The 20k chin chai dump in starsaver earn 0.9% also add up more interest

 

[fitzz82]

The 20k chin chai dump in starsaver earn 0.9% also add up more interest

U r right.
Only way ocbc360 is better is if u hit all 3 conditions den.

 

[item2sell]

buy Singapore government saving bond consider investmnet?

if use poems, consider investment, or must be DBS vickers?

 

[vegavega25]

So what is the consensus here about savings accounts for amounts over and above S$50K? Since salary credit needs to be made to a POSB/DBS account to avail of the bonus interest rate on the Multiplier account, that condition of other banks cannot be met.

CIMB Fastsaver has been mentioned in the forum a few times, but do any other banks do better than that?

 

[daxiong88]

For dividends credited into my POSB account for shares in my CDP, does it still qualify for the higher interest rate?

I asked this question before too . Can anyone confirm?

 

[daxiong88]

Bonus Interest for up to $50k only. Can return if you want but debit card can be more useful than posb everyday. Eg dbs visa debit gives 5% rebate for contactless transaction if don't withdraw more than $400 cash and not more than 3 withdrawals per month.

Withdrawals means physical withdrawal from ATM? Withdraw money using internet banking?

 

[lohsenglte]

Anyone knows if the Cash Upfront Account for DBS Vickers is considered as Investment or not? I'm not eligible for high spending credit cards due to the low low NS pay. All I can do is to open DBS Vickers investment products, but don't want to pay the high commission linked to normal DBS Vickers Online Trading Account.

 

[Trazora]

Withdrawals means physical withdrawal from ATM? Withdraw money using internet banking?

Withdrawals means physical withdrawal from ATM or at branch, not ibanking

 

[newjungle]

I asked this question before too . Can anyone confirm?

Under the previous arrangement, dividends are categorized under 'investment'. If DBS hasn't moved the goalpost, I will think dividends will be accepted as 'investment'. We can wait till a dividend payment month to confirm, or else, write to DBS to find out....

 

[Alex K]

I asked this question before too . Can anyone confirm?

Should read the FAQ. Clearly stated there that dividends are included. Also confirmed with my Nov Bank & Earn Summary page via online banking.
Note the interest is only for the $ you put in your multipler account, not the $ in the POSB account.

Sent from Samsung Note8 using GAGT

 

[naro]

Under the previous arrangement, dividends are categorized under 'investment'. If DBS hasn't moved the goalpost, I will think dividends will be accepted as 'investment'. We can wait till a dividend payment month to confirm, or else, write to DBS to find out....

Check out the FAQ. Yes, dividends credited into POSB/DBS account will count towards the "investments" category.

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

 

[daxiong88]

Thanks for all the replies.

I called DBS and they confirmed that dividend from existing stocks that are credited into DBS/POSB account well be counted towards the bonus interest. Thanks.

 

[Squaredot]

Thanks for all the replies.

I called DBS and they confirmed that dividend from existing stocks that are credited into DBS/POSB account well be counted towards the bonus interest. Thanks.

No need call DBS mah . It is written in FAQ page 8.

Investments:
(i) Dividend credit from CDP in any personal or joint DBS/POSB deposit account

 

[daxiong88]

No need call DBS mah . It is written in FAQ page 8.

Investments:
(i) Dividend credit from CDP in any personal or joint DBS/POSB deposit account

I'm trying to confirm whether the dividend need not be from POSB IS programme as one DBS staff told me before yesterday's call seems that their staff is not well trained.

 

[tiertime]

I'm trying to confirm whether the dividend need not be from POSB IS programme as one DBS staff told me before yesterday's call seems that their staff is not well trained.

I asked the DBS CSO as i use other brokers to trade , they say as long as the dividends is credited to my POSB account can liao, i dunno zhun or not, but i called 2x and both CSO told me same thing

 

[sg_investor]

Looks like Multiplier beats 360 in interest by 0.1%. but the upper limit is 50K only.
Is debit card spending counted as credit card spending?

 

[ravenintiate]

How does the investment bonus for dividend work? Only during months that I get dividend then I’ll get the extra interest?

 

[sg_investor]

How does the investment bonus for dividend work? Only during months that I get dividend then I’ll get the extra interest?

intereting. Does CPF IS dividend count?

 

[Buzy_bee]

No.

This question was asked in DBS Facebook post
m.facebook.com/dbs.sg/photos/a.334404470007142.79022.312988068815449/1515680641879513/

"Hi, debit card spend does not qualify towards the fulfillment criteria for the bonus interest of the Multiplier account. You will need to sign up for a new credit card, hope this clarifies. ~Fanny"

Looks like Multiplier beats 360 in interest by 0.1%. but the upper limit is 50K only.
Is debit card spending counted as credit card spending?