DBS changed its Mutiplier plan

[maumu]

thanks for all the helpful replies... this month window close already. apply now will only be in effect next month.

so i will wait till later the month then apply... it's a good add-on to multiplier.

 

[algerr]

Need to shift the money from Jan onwards...how is POSB SAYE? for 1k monthly savings will get base interest of 0.25% and 2% after 1st year and 2nd year.

How about SAYE account to replace multiplier?

Was on SAYE previously before switching to Multiplier.

Interest is pathetic if u do withdrawal from that account due to urgent use.

You may want to consider POSB Cashback Bonus instead.

I intend to change to this from Jan 2021

https://www.posb.com.sg/personal/deposits/bank-earn/cashback-bonus

 

[Yan Sia]

Hi, can anyone explain how does posb SAYE works?

 

[blue_denim24]

No one is considering moving some cash to MBH ?

Sent from OnePlus ONEPLUS A6000 using GAGT

 

[reddevil0728]

No one is considering moving some cash to MBH ?

Sent from OnePlus ONEPLUS A6000 using GAGT

Totally different ball game

 

[CCPie]

Was on SAYE previously before switching to Multiplier.

Interest is pathetic if u do withdrawal from that account due to urgent use.

You may want to consider POSB Cashback Bonus instead.

This one can stack with multiplier?

 

[edmwing]

This one can stack with multiplier?

The POSB cashback cannot stack with multiplier.

Note for SAYE you only earn interest on the incremental amount in the account hence it's not like you can transfer 50k inside one-shot to earn the interest.

 

[TehSi99]

The POSB cashback cannot stack with multiplier.

Note for SAYE you only earn interest on the incremental amount in the account hence it's not like you can transfer 50k inside one-shot to earn the interest.

Interest rate is miserable now. The only good thing about SAYE is you do not need to have all the money upfront.

 

[demoforce1]

The POSB cashback cannot stack with multiplier.

Note for SAYE you only earn interest on the incremental amount in the account hence it's not like you can transfer 50k inside one-shot to earn the interest.

I just open SAYE, thanks for this thread.
You just need to put a portion of your income lock for 24 months for 2% pa

 

[highsulphur]

I have been using vickers to buy shares to fulfil my investment portion but now I'm considering rsp. So it only works for 12 months for each plan and then you guys switch etf? I tried looking for it on the app but can only find unit trusts. What's the commission for rsp?

 

[bitsoffish]

Any idea if I recently closed an SAYE account upon maturity after 24mths, I can open a new one to earn the 2% again?

 

[SamSze]

I have been using vickers to buy shares to fulfil my investment portion but now I'm considering rsp. So it only works for 12 months for each plan and then you guys switch etf? I tried looking for it on the app but can only find unit trusts. What's the commission for rsp?

To my knowledge, it is 0.82%.

 

[silverbomb]

There's a very tiny period of time SAYE had this BYOB version that can earn up to 4%, those were good memories.

Posted from PCWX using SM-G965F

 

[silverbomb]

Any idea if I recently closed an SAYE account upon maturity after 24mths, I can open a new one to earn the 2% again?

Nth to stop u from doing so. That's the silly thing abt this account need to close and reopen one.

Posted from PCWX using SM-G965F

 

[reddevil0728]

I have been using vickers to buy shares to fulfil my investment portion but now I'm considering rsp. So it only works for 12 months for each plan and then you guys switch etf? I tried looking for it on the app but can only find unit trusts. What's the commission for rsp?

for each fund yes. then switch the fund.

App can find.

To my knowledge, it is 0.82%.

depends on which 1. STI/REIT ETF is 0.82%. but the bond one is 0.5%

 

[highsulphur]

for each fund yes. then switch the fund.

App can find.



depends on which 1. STI/REIT ETF is 0.82%. but the bond one is 0.5%

Is there sales charge when redeeming?

The deduction date is 15th of the month. So that amount will count towards the transaction amount for the same month?

 

[reddevil0728]

Is there sales charge when redeeming?

The deduction date is 15th of the month. So that amount will count towards the transaction amount for the same month?

No addition charge

Yes

 

[highsulphur]

No addition charge

Yes

Which ETF did you choose?

 

[reddevil0728]

Which ETF did you choose?

there are 4 to choose from so just DYODD

 

[highsulphur]

there are 4 to choose from so just DYODD

When you switched fund before or on the 12th month, do you redeem it or simply set the deduction to zero to pause it while starting on a new one for the purpose of getting multiplier interest?