DBS changed its Mutiplier plan

[Trazora]

Hav done some math...
ocbc : 70,000 * 1.8% = 1,260
dbs : 50,000 * 2.2% + 20,000 * 1.0% = 1,300

the diff is minimal, guess i'll just stick with ocbc
thanks for the inputs.

Have you considered Maybank SaveUp or BOC Smartsaver?

 

[item2sell]

Hav done some math...
ocbc : 70,000 * 1.8% = 1,260
dbs : 50,000 * 2.2% + 20,000 * 1.0% = 1,300

the diff is minimal, guess i'll just stick with ocbc
thanks for the inputs.

Wait till OCBC reject your credit card fee wavier.

 

[Ginnylim07]

I am thinking of putting my savings. Been with OCBC for quite sometime. Exploring other banks for more interest. Citibank maxigain, boc smartsaver and dbs multiplier are some of my choices. I already have cimb.

Let's say the gross is above 2.5k, and have 30k to 50k for savings... which saving plans would you recommend?

 

[jnashville]

I am thinking of putting my savings. Been with OCBC for quite sometime. Exploring other banks for more interest. Citibank maxigain, boc smartsaver and dbs multiplier are some of my choices. I already have cimb.

Let's say the gross is above 2.5k, and have 30k to 50k for savings... which saving plans would you recommend?

maybe for starters, put 15k in citibank maxigain and let the counter roll, your remainder put in DBS multiplier.

 

[Trazora]

I am thinking of putting my savings. Been with OCBC for quite sometime. Exploring other banks for more interest. Citibank maxigain, boc smartsaver and dbs multiplier are some of my choices. I already have cimb.

Let's say the gross is above 2.5k, and have 30k to 50k for savings... which saving plans would you recommend?

would you be making $500 card spending monthly?

 

[Ginnylim07]

No I don't think I will spend $500 per month on cards.

 

[Trazora]

No I don't think I will spend $500 per month on cards.

Suggest you switch to DBS multiplier. Get 2% interest by crediting salary, make a small credit card spend and set up POSB investsaver to buy min $100 ETF monthly.

 

[Ginnylim07]

Suggest you switch to DBS multiplier. Get 2% interest by crediting salary, make a small credit card spend and set up POSB investsaver to buy min $100 ETF monthly.

This POSB investsaver is investing? Any risks?

 

[pcmdan]

This POSB investsaver is investing? Any risks?

Unfortunately,
All investment comes with risks..

No investment in the market comes at no risk.

Just curious if u are not those that spend on cc, wouldnt Citi maxigain be good for u?

 

[Trazora]

This POSB investsaver is investing? Any risks?

Very low risk. Only cost is the 0.5%-1% fees. Can sell off the units if you want but so far been getting profit so I keeping it.

 

[Ginnylim07]

Unfortunately,
All investment comes with risks..

No investment in the market comes at no risk.

Just curious if u are not those that spend on cc, wouldnt Citi maxigain be good for u?

Yes opening a citibank maxigain account this month... thinking of what other bank accounts to open.

I actually spent quite a lot in the previous months and using ocbc cashflo to pay instalments.

 

[Ginnylim07]

Very low risk. Only cost is the 0.5%-1% fees. Can sell off the units if you want but so far been getting profit so I keeping it.

I see. I think I need to research more on this. Do you mind sharing what did u invest?

 

[pcmdan]

I see. I think I need to research more on this. Do you mind sharing what did u invest?

He is into this

https://www.posb.com.sg/personal/investments/investing-in-funds/invest-saver

 

[Trazora]

I see. I think I need to research more on this. Do you mind sharing what did u invest?

There are only 2 options 1) Nikko AM Singapore STI ETF or 2) ABF Singapore Bond Index Fund. Both are good but I prefer the STI ETF given the uptrend of STI now.

https://www.posb.com.sg/personal/investments/investing-in-funds/invest-saver

 

[jnashville]

I see. I think I need to research more on this. Do you mind sharing what did u invest?

how much profit can u make in a year?
read somewhere from forums that the posb invest saver no doing well. not sure true or not

 

[Ginnylim07]

Which credit card is recommended for posb/dbs for cash rebates?

 

[pcmdan]

Which credit card is recommended for posb/dbs for cash rebates?

DBS live fresh..
5% for $600 min. Spent every calendar month

 

[Ginnylim07]

DBS live fresh..
5% for $600 min. Spent every calendar month

Wow difficult to reach $600 per month.

 

[sharinganez]

Have you considered Maybank SaveUp or BOC Smartsaver?

BOC also limited at 50k, so the interest gained is almost the same.
tks for the info.

Wait till OCBC reject your credit card fee wavier.

no issue with OCBC so far, service is good.

 

[Squaredot]

BOC Smartsaver $60k, not $50k