DBS changed its Mutiplier plan

[ElZedHaitch]

Hi guys. Just starting a job so looking into starting this.

Got a few questions.
1. I used to have RSP for G3B but stopped. I know it takes 6 months after it stops to be counted. Do I have to take any action to delete the old RSP or just change value to 0?

2. I do not have income now and have no credit card. Is there any other way to get the monthly spend amount? Do debit cards count?

Thanks

 

[Trazora]

Hi guys. Just starting a job so looking into starting this.

Got a few questions.
1. I used to have RSP for G3B but stopped. I know it takes 6 months after it stops to be counted. Do I have to take any action to delete the old RSP or just change value to 0?

2. I do not have income now and have no credit card. Is there any other way to get the monthly spend amount? Do debit cards count?

Thanks

1. Must terminate the RSP and sell all the units then wait 6 months. At the mean time can set up RSP for the ABF bond for it to count

2. Salary crediting is mandatory for dbs multiplier bonus interest. Only credit card spend counts to card spend.

 

[tangent314]

Buy trades in vickers counter. Even with srs money

Apparently it works with CPF IS buys as well. I 'accidentally' triggered the 3.5% interest for the 2 months I bought ES3 with CPF.

 

[assiak71]

Salary credit is to be credited into multiplier acc or any other dbs/posb acc? Thanks

 

[Squaredot]

Salary credit is to be credited into multiplier acc or any other dbs/posb acc? Thanks

any DBS/posb acct

 

[Sinkie]

Salary credit is to be credited into multiplier acc or any other dbs/posb acc? Thanks

If salary credit into joint savings account?

 

[vddgnd]

If salary credit into joint savings account?

Can. 10char

 

[Tornesoul]

If salary credit into joint savings account?

Yup can. If u got a partner can both credit into joint. Higher transaction number.

Dividends into joint count for both multipliers too

Sent from Samsung SM-A520F using GAGT

 

[Sinkie]

Yup can. If u got a partner can both credit into joint. Higher transaction number.

Dividends into joint count for both multipliers too

Sent from Samsung SM-A520F using GAGT

Let's say her salary is credited into a non-multiplier joint posb account

Am because my salary cannot be credited into any of my dbs account but I have dbs mortgage and my spending is mostly on dbs credit card

She doesn't have any mortgage nor posb credit card

So can I still open and enjoy a seperate multiplier dbs account?

 

[ElZedHaitch]

1. Must terminate the RSP and sell all the units then wait 6 months. At the mean time can set up RSP for the ABF bond for it to count

2. Salary crediting is mandatory for dbs multiplier bonus interest. Only credit card spend counts to card spend.

Okay thanks. I never had a35 so maybe it's worth it to get and just put 100 per month.

 

[assiak71]

Dividend is counted as investment category? Is that why i read buy ssb for 6 months? Dividend has to be credited into multipler account or any dbs/posb?

Can recommend dbs/posb joint acc thanks

 

[vddgnd]

Dividend is counted as investment category? Is that why i read buy ssb for 6 months? Dividend has to be credited into multipler account or any dbs/posb?

Can recommend dbs/posb joint acc thanks

Dividend is investment category.
Can be credited into any DBS/posb acc. Depends the purpose of the joint acc. If just simply a joint account to credit salary and dividend, can choose a joint acc with low minimum balance.

 

[Sinkie]

Dividend is investment category.
Can be credited into any DBS/posb acc. Depends the purpose of the joint acc. If just simply a joint account to credit salary and dividend, can choose a joint acc with low minimum balance.

So 1 dividend in a year to qualify?

 

[vddgnd]

So 1 dividend in a year to qualify?

Only the month the dividend credited will be counted for investment category. During the month no dividend crediting, not counted.

 

[Tornesoul]

Let's say her salary is credited into a non-multiplier joint posb account

Am because my salary cannot be credited into any of my dbs account but I have dbs mortgage and my spending is mostly on dbs credit card

She doesn't have any mortgage nor posb credit card

So can I still open and enjoy a seperate multiplier dbs account?

Ya her salary into joint will count for u as salary. Based on their faq.

I think kpo czm r doing a bond ladder w ssb for div catg.

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[choconame]

Should i need to transfer more fund from saving acc to dbs mutiplier account to gain more interest ?

 

[Trazora]

Should i need to transfer more fund from saving acc to dbs mutiplier account to gain more interest ?

bonus interest under the dbs multiplier scheme is for up to $50k balance in dbs multiplier account (not other saving account)

 

[ixoral]

Hmm this month’s multiplier interest is late.. past few months always in by the 7th of the month

 

[Tornesoul]

Hmm this month’s multiplier interest is late.. past few months always in by the 7th of the month

7th working day, wed 9th may

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[Squaredot]

Hmm this month’s multiplier interest is late.. past few months always in by the 7th of the month

likely to see it tmr morning.