DBS changed its Mutiplier plan

[Buzy_bee]

All sifu, if I already have a dbs savings, if I apply multiplier account, will the salary credit to my dbs savings counted?

Yes, but the higher interest rate will only be applied to the amount in your Multiplier account.

 

[Han Shot First]

According to the terms of the Multiplier Account, "Only fully settled ‘BUY” equity trades purchased via Vickers Online Trading or DBS Treasures Online Equity Trading platform will be Eligible Transactions."

Does a buy trade using DBS Vickers Cash Upfront (CUF) (which uses POSB iBanking platform) qualify as an Eligible Transaction? Can the buy trade be for an ETF?

 

[buaytuckchek]

I understand for the purpose of DBS Altitude credit card, the topping up of CPF SA on AXS machine does not earn DBS points/miles.

Does any know if it can clock as credit card spending for Mulitplier?

 

[swordsly]

According to the terms of the Multiplier Account, "Only fully settled ‘BUY” equity trades purchased via Vickers Online Trading or DBS Treasures Online Equity Trading platform will be Eligible Transactions."

Does a buy trade using DBS Vickers Cash Upfront (CUF) (which uses POSB iBanking platform) qualify as an Eligible Transaction? Can the buy trade be for an ETF?

Yes 10char

 

[Buzy_bee]

hey guys, i'm thinking of creating a ssb ladder to clock the investment portion for the multiplier account. i searched this thread and found a bro who's doing that too. can i just confirm that this is how i should go about doing it:

1) assuming i begin from jul 2018, apply for Jul 18 SSB - Dec 18 SSB, each with $500 (this will be the amount determined by individual)
2) since coupon payout is every 6 months, first payout of Jul 18 SSB will be in Jan 19, Aug 18 SSB in Feb 19, so on and so forth and "recycled" every 6 months.
3) these monthly coupon will count towards the investment portion of the multiplier

Is it a must to credit the coupon payout to dbs Multiplier account? Or any dbs
Account will do?

 

[jackieatbtu]

Any dbs account. Mine is to POSB savings

Is it a must to credit the coupon payout to dbs Multiplier account? Or any dbs
Account will do?

 

[dd_se7en]

Yes, but the higher interest rate will only be applied to the amount in your Multiplier account.

meaning i have to constantly transfer money to multiplier account if i wish to enjoy the multiplier interest rate?

say i salary credit to my saving account and i apply to ETF regular savings plan, both of this transactions are using savings account.

Then i still can enjoy the interest for the amount that kept in multiplier account right?

 

[Trazora]

meaning i have to constantly transfer money to multiplier account if i wish to enjoy the multiplier interest rate?

say i salary credit to my saving account and i apply to ETF regular savings plan, both of this transactions are using savings account.

Then i still can enjoy the interest for the amount that kept in multiplier account right?

Yes only money in multiplier account gets the bonus interest.

 

[kindman1]

When do they credit the bonus interest?

 

[vegavega25]

When do they credit the bonus interest?

Officially, by the 7th *working day* of the next month. In practice, it is the 7th of the next month. So for June, it will be on 7 July - credited at some point in the day, but can also be 11.59 PM types.

 

[dd_se7en]

Yes, but the higher interest rate will only be applied to the amount in your Multiplier account.

but will i able to get the $20 free cash, if the salary is deposit to DBS savings instead of DBS multiplier. And does the account no remain the same? or i have to inform my HR to deposit the salary to new DBS multiplier account no.

 

[jayz89]

Wait, only money inside multiplier will get interest?

Salary credit into saving acc will earn the interest but also I have to constantly transfer into multiplier?

 

[Trazora]

Wait, only money inside multiplier will get interest?

Salary credit into saving acc will earn the interest but also I have to constantly transfer into multiplier?

Yes. 10char

 

[tiertime]

Wait, only money inside multiplier will get interest?

Salary credit into saving acc will earn the interest but also I have to constantly transfer into multiplier?

u do not have to constantly transfer, coz the Multiplier only give interest up to first 50K deposited

Yes 10char

every month in order to get the extra interest for investment, i had to purchase $30k worth of SGX stocks, it is very troublesome...

if i buy ETF does it mean i only have to buy once and do not need to re-invest every month to get the extra savings interest from investment?

 

[Buzy_bee]

Wait, only money inside multiplier will get interest?

Salary credit into saving acc will earn the interest but also I have to constantly transfer into multiplier?

Or just transfer one time 50k to Multiplier and you don't need to Topup anymore

 

[swordsly]

every month in order to get the extra interest for investment, i had to purchase $30k worth of SGX stocks, it is very troublesome...

if i buy ETF does it mean i only have to buy once and do not need to re-invest every month to get the extra savings interest from investment?

I don't know why you need to purchase $30k but...

Buying ETF doesn't mean you buy once.
If you are buying from Vickers, every BUY trade will be recognised under the Investment category regardless of the trade amount.
If you are buying via RSP, the RSP will only be recognised for 12 consecutive months if and only if the RSP is setup after Multiplier is.

If you want, you can buy 6 consecutive SSBs and set CDP DCS to your DBS/POSB account.
6 months later, you will have interests from SSB streaming in every month and thus qualify for the Investment category for the next 10 years (assuming Multiplier rules stay the same).

 

[FuNKySoULyBrO]

I don't know why you need to purchase $30k but...

Buying ETF doesn't mean you buy once.
If you are buying from Vickers, every BUY trade will be recognised under the Investment category regardless of the trade amount.
If you are buying via RSP, the RSP will only be recognised for 12 consecutive months if and only if the RSP is setup after Multiplier is.

If you want, you can buy 6 consecutive SSBs and set CDP DCS to your DBS/POSB account.
6 months later, you will have interests from SSB streaming in every month and thus qualify for the Investment category for the next 10 years (assuming Multiplier rules stay the same).

I think coz 30K is to cross to the 3.5% interest. Yes, he can buy small amounts, or receive dividends, payouts etc, but hard to reach the 30K barrier, unless salary gao gao

 

[swordsly]

I think coz 30K is to cross to the 3.5% interest. Yes, he can buy small amounts, or receive dividends, payouts etc, but hard to reach the 30K barrier, unless salary gao gao

Perhaps.

I personally don't think it makes sense to spend so much just to get that additional 1.3-1.5% p.a interests.

 

[cnotsniw]

Perhaps.

I personally don't think it makes sense to spend so much just to get that additional 1.3-1.5% p.a interests.

The extra interest earned will partially cover the trading fees/commission. Hopefully, he earns on capital gains or dividends. Else, like what you said, may not make sense.

 

[Buzy_bee]

Promo extended to 31 Dec.
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