DBS changed its Mutiplier plan

[demoforce1]

Eh if 12/12 premium in June. Which will count for Jul interest.

it should be but in July for 1/12 and get it in aug no?

unless x/12 refers to the month it is being recognised rather than charged?

11/12 for This Month (today) in the app

 

[reddevil0728]

11/12 for This Month (today) in the app

So premium paid for this month or not yet?

 

[demoforce1]

So premium paid for this month or not yet?

not yet, but I think should be later tonight

 

[highsulphur]

how do you get the quote, you go to the posb/dbs branch?

Online. On their website

 

[maumu]

11/12 shown in the app today actually means that last month you paid the 11th instalment (insurance is counted in the following month).

and I tot insurance is always deducted automatically on the 16th?

 

[Rayleigh1]

Then June will be 12/12 (confirm once deducted)

that means higher interest recognise for July.

if it counts for july 2021, it means I got credit for 13 months.

 

[Squaredot]

Think x/12 refers to the month it is being recognised rather than charged.

if it counts for july 2021, it means I got credit for 13 months.

Trazora is right. If you are at 12/12 in June, it means June is the last month recognised.
U need a new policy to earn bonus interest for July.

 

[Rayleigh1]

Trazora is right. If you are at 12/12 in June, it means June is the last month recognised.
U need a new policy to earn bonus interest for July.

Thanks everyone

 

[alex22]

Trazora is right. If you are at 12/12 in June, it means June is the last month recognised.
U need a new policy to earn bonus interest for July.

So I'll be taking up a new policy in July so that it starts counting for August too.
My July 2021 is 12/12 per the app

 

[demoforce1]

So I'll be taking up a new policy in July so that it starts counting for August too.
My July 2021 is 12/12 per the app

My current June is 11/12, so I think we are at the same period

 

[TehSi99]

Dropping off Multiplier and taking up Cashback Bonus.

Need to take up investment as one category. But it seems not all unit trust are offered by DBS?

 

[blue_denim24]

Guys,

I was using multiplier and used to DCA into ABF earlier (100 dollars). Then I stopped that RSP but did not sell ABF. So ABF is still shown in my holdings. Since then, I have been DCA 100 into MBH. This month I realized my interest credit was very less and when I check bank and earn, I dont see investment category. Most likely this is due to the fact that 12 instalments for MBH have completed. So I need to re-activate this option by choosing something other then MBH (I hope my understanding is correct here). Can I check if I can switch on the RSP for ABF now and be considered eligible for another 12 months multiplier account criteria for investment?

 

[Trazora]

Guys,

I was using multiplier and used to DCA into ABF earlier (100 dollars). Then I stopped that RSP but did not sell ABF. So ABF is still shown in my holdings. Since then, I have been DCA 100 into MBH. This month I realized my interest credit was very less and when I check bank and earn, I dont see investment category. Most likely this is due to the fact that 12 instalments for MBH have completed. So I need to re-activate this option by choosing something other then MBH (I hope my understanding is correct here). Can I check if I can switch on the RSP for ABF now and be considered eligible for another 12 months multiplier account criteria for investment?

no, cannot use ABF as you did not sell the funds and wait 6 months after that.

 

[vegavega25]

Traz is right. At this point you will have to buy into UTs each month or start another RSP that is not ABF amd MBH.

Btw, here is my theory on why this is the arrangement.

DBS earns a distributor's commission from the sale of these UTs but the maximum amount is at the time that a new folio is created, i.e. a customer buys into it for the first time. And so in order to maximize new folios, they require folks to sell in full and wait 6 months is because it is only after 6 months of zero-holding that the UT fund house counts a new purchase as a new folio.

I don't know why they count an RSP as an investment category for 12 months only. I have 2 theories: (1) in order to force people to create new folios every year, and/or (2) although DBS earns a commision each month, after 12 months this commission is pittance.

Maybe this has been discussed here already, or the answer is already out there, in which case I'll happy to be enlightened.

 

[blue_denim24]

Ok I will sell abf and mbh now. And use abf after 6 months again. I hope that will take care of this

Also, for 6 months starting now, any recommendations for any moderate risk UT ?

 

[Trazora]

Ok I will sell abf and mbh now. And use abf after 6 months again. I hope that will take care of this

Also, for 6 months starting now, any recommendations for any moderate risk UT ?

Nikko AM-StraitsTrading Asia ex Japan REIT ETF (aka CFA)?

 

[alex22]

Anyone multiplier b&e summary today not showing the investment and insurance currently though completed?

 

[reddevil0728]

Anyone multiplier b&e summary today not showing the investment and insurance currently though completed?

when did you complete those? B&E is usually a few days delay.

 

[cassowary18]

Ok I will sell abf and mbh now. And use abf after 6 months again. I hope that will take care of this

Also, for 6 months starting now, any recommendations for any moderate risk UT ?

STI ETF also can (G3B)

 

[maumu]

Anyone multiplier b&e summary today not showing the investment and insurance currently though completed?

my insurance (CancerCare) always shows up early in the month even though deduction is 16th..

my investment only shows up around 25th even though deduction is 15th..

in summary, worry not unless by month end you don't see any reflected.