DBS changed its Mutiplier plan

[maumu]

it depends on the profile of the person also. DBS may not always be the best for everybody.

my lazy more like referring to. if the others are equally competitive/comparable, the difference might be too immaterial for them to change again.

sigh.. i could just treat it as a FD for now without the time constraint... 1.2% is probably at the higher end of FDs nowadays. but of cos need to consider unnecessary expenses like the insurance + RSP.

maybe it's a sign should refund back to CPF again... haha!

 

[MrAppleCrumble]

Nicely done dbs.

 

[yukirin92]

Not much point for me to commit 100/mth to the RSP to hit the investment category for 0.7% on 50k (was 1.5% previously).

Think I'll move my cash over to OCBC to enjoy the 1.03% on first 75k. Luckily I don't use DBS cards much so easy switch.

 

[drowningfish101]

uncle powell and auntie yellen both dovish one. rates gonna be super low for the coming future. banks struggling to maturity transform so need to adjust rates at the expense of consumers.

all my friends going for bto left and right while I still buying caifan(without fish somemore). How to grow my savings with this kind of rates sia haha

Was sourcing for higher yielding accounts and found this endowment called GIGANTIQ. Rates still decent at 1.8%. I thought the no lock-in period makes it competitive with all these interest accounts. Can make top-ups and withdrawals anytime. Now got promo with bonus credits as high as 8% with PolicyPal. Maybe go redeem voucher to buy fish for makan

Was referencing what they say to plan for BTO related payments. I very noob when it comes to this kind of stuff.

 

[5408854088]

the interest rates now chui liao

 

[oceanicmanta]

Totally not worth it to pay for the insurance anymore come Jan 2021.

to recap, come Jan 2021, when would be a "safe" date to cancel CancerCare ?

after Dec bonus interest has been credited ?

 

[eyz]

yet to sign.

cos the insurance officer said she has no knowledge of whether does this cancer care qualify for the insurance category.

anyway, I just did a live chat with DBS agent, she affirmed that cancercare is considered under the insurance category for multiplier account.

I got a cold call from DBS, recommending me the insurance plan. I supposed it was through my fiddling with DBS apps under more >> insurance >> cancercare

you can check out the different premium plan over there.

even if you don't sign up, the apps tracked that you had went into to look at it, the agent will follow up with a call.

now that I look tlat the premium again, they are offering 17.8 for 50k coverage.

I think the insurance agent got a cut by offering a lower coverage.

When did tou sign up?

 

[reddevil0728]

to recap, come Jan 2021, when would be a "safe" date to cancel CancerCare ?

after Dec bonus interest has been credited ?

If you don’t want to clock the transaction for Jan, u need to cancel before they deduct the premium in Dec.

Dec premium is for jan

 

[reddevil0728]

yet to sign.

cos the insurance officer said she has no knowledge of whether does this cancer care qualify for the insurance category.

anyway, I just did a live chat with DBS agent, she affirmed that cancercare is considered under the insurance category for multiplier account.

I got a cold call from DBS, recommending me the insurance plan. I supposed it was through my fiddling with DBS apps under more >> insurance >> cancercare

you can check out the different premium plan over there.

even if you don't sign up, the apps tracked that you had went into to look at it, the agent will follow up with a call.

now that I look tlat the premium again, they are offering 17.8 for 50k coverage.

I think the insurance agent got a cut by offering a lower coverage.

It’s on dbs multiplier website lor. The list of insurance considered is list there.

 

[MrHighlander]

Might as well dump up to 100K on Singlife with this change

 

[reddevil0728]

Might as well dump up to 100K on Singlife with this change

Might make sense.

But as liquid as Singlife is, u need to bear with the downtime lor

 

[belgarathc]

From ocbc to boc+uob one+posb cashback to dbs multiplier+singlife, now where should I switch to? Probably Posb cashback (for mortgage, cc, investment and maybe salary) and singlife, but still need a bank account for some cash with decent interest.

 

[Shiro MS08th]

Might as well dump up to 100K on Singlife with this change

Same here, since as of now I’m in the middle tier for dbs multiplier.

Provided Singlife don’t drop their rates right after this dbs announcement

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[direbmem]

It's still one of the best? Up to 2% for Income+ investment+ spend. POSB cashback will follow the same rates?

 

[oceanicmanta]

If you don’t want to clock the transaction for Jan, u need to cancel before they deduct the premium in Dec.

Dec premium is for jan

correct, dont intend to clock for Jan21.

I started in Oct, first deduction was in Oct

There was no deduction Nov20

Fellow user checked with Manulife that next giro deduction is likely on 12th Dec ..

I am not 100% sure if monthly deduction is needed to drive the bonus criteria since FAQ says so long as policy in force, will be eligible for bonus

have called CSO but get conflicting/inaccurate info

 

[GameTheory]

Omg! Cut again

 

[reddevil0728]

correct, dont intend to clock for Jan21.

I started in Oct, first deduction was in Oct

There was no deduction Nov20

Fellow user checked with Manulife that next giro deduction is likely on 12th Dec ..

I am not 100% sure if monthly deduction is needed to drive the bonus criteria since FAQ says so long as policy in force, will be eligible for bonus

have called CSO but get conflicting/inaccurate info

Hmm strange that no deduction for nov.

 

[reddevil0728]

Omg! Cut again

Kinda expected tbh.

 

[MrAppleCrumble]

Kinda expected tbh.

Yea everybody was reducing already. But dbs takes longer to bua the knife to make it sharper hahah

 

[Perisher]

From ocbc to boc+uob one+posb cashback to dbs multiplier+singlife, now where should I switch to? Probably Posb cashback (for mortgage, cc, investment and maybe salary) and singlife, but still need a bank account for some cash with decent interest.

Endowus?