DBS changed its Mutiplier plan

[maumu]

If you bought before 16, deduction will be on the 16th. If 16 or after, deduction is next month 4th. Working day.

https://av.sc.com/1.0/sg/global/av/sg-manulife-giro-form.pdf

ok, maybe we're not talking about the same thing. I thought we're discussing when it will show up on the BnE summary. it doesn't matter when it is deducted (that's my point).

 

[a4973]

2021 nov

Hi Trazora, thank you very much for your clarification.
One last thing is since I will be paying the premium on an annual basis, is there a specific time frame within November 2021 I should purchase the new policy? Eg must the 14 day free look period be completed within the calendar month of November 2021 in order for 1/12 to show up on December 2021 B & E summary?
Thanks again!!

 

[maumu]

Hi Trazora, thank you very much for your clarification.
One last thing is since I will be paying the premium on an annual basis, is there a specific time frame within November 2021 I should purchase the new policy? Eg must the 14 day free look period be completed within the calendar month of November 2021 in order for 1/12 to show up on December 2021 B & E summary?
Thanks again!!

it's from the date the policy is incepted.

so if the policy start date is in Nov, regardless of the 14 day free look, it'll start showing up 1/12 in Dec.

 

[a4973]

it's from the date the policy is incepted.

so if the policy start date is in Nov, regardless of the 14 day free look, it'll start showing up 1/12 in Dec.

Thanks maumu. My concern is that the 14 days free look period does play a part in determining the kick in time for the 1/12 similar to the Investment category where the purchase will only count when the T+2 is within the same calendar month. Thanks

 

[maumu]

Thanks maumu. My concern is that the 14 days free look period does play a part in determining the kick in time for the 1/12 similar to the Investment category where the purchase will only count when the T+2 is within the same calendar month. Thanks

think don't need to overthink the issue...

from their FAQ:
Q3) When and how long will my policy be recognised as an eligible transaction?
The inclusion of the monthly premium amount as an eligible transaction will start 1 month after the policy inception date and continue for 12 consecutive months as long as the policy is in force.
Example:
Policy inception date 20 July
Recognition starts in August (You will receive your preferential interest on the 7th working day of September)

Look for the inception date on your policy document. It should be the date you applied for the plan... unless it's different because you paid at a later date?
Policy Issue Date: ?
Policy Start Date: ?

 

[alex22]

If you bought before 16, deduction will be on the 16th. If 16 or after, deduction is next month 4th. Working day.

https://av.sc.com/1.0/sg/global/av/sg-manulife-giro-form.pdf

Does that also mean that if bought 7july will only deduct on monthly 16th?

 

[sansanjikikut]

Does that also mean that if bought 7july will only deduct on monthly 16th?

By right yes for your second deduction onward. First deduction is instant debit when you apply rmb?

 

[vsvs24]

Insurance showed up in bank and earn summary.

Those who terminated, did it reflect ?

 

[babyrobo]

My insurance is showing up as 12/12. Should I cancel the current plan and buy the new plan now (i.e. today)?

What's the best deal for fulfillment of the multipler criteria? Thanks!

 

[farmers]

I just dropped them a note, fingers crossed.

Actually, now its not clear to me how dbs recognises policy "cancellation":
1) giro cancellation or
2) cancel policy with manulife

Ideally, cancelling the giro wont cancel the policy or else back to square 1 with paying the 13th month :/

Thanks guys, the appeal worked.
After over 2 weeks of wait, dbs finally credited me the interest.

 

[Arceptionist]

Hello gents,

i received my salary (i.e on 23/09) and is coded as SAL
However when i check the "Bank&Earn" for September my salary is not recognised as an income.

Been 7 days already...

Any clue?
Thanks in advance

 

[reddevil0728]

Hello gents,

i received my salary (i.e on 23/09) and is coded as SAL
However when i check the "Bank&Earn" for September my salary is not recognised as an income.

Been 7 days already...

Any clue?
Thanks in advance

Check with DBS? They can’t check for you. We can’t

 

[maumu]

Hello gents,

i received my salary (i.e on 23/09) and is coded as SAL
However when i check the "Bank&Earn" for September my salary is not recognised as an income.

Been 7 days already...

Any clue?
Thanks in advance

from my experience SAL is included as soon as the B&E summary shows the same date as the salary is credited.

you should call the bank and ask.

 

[maumu]

hi all, just cancelled my RSP (12/12) and ready to buy a new one.

is the Nikko AM SGD Investment Grade Corporate Bond ETF the least volatile to buy for next RSP? just so as to unlock the investment cat.

 

[reddevil0728]

hi all, just cancelled my RSP (12/12) and ready to buy a new one.

is the Nikko AM SGD Investment Grade Corporate Bond ETF the least volatile to buy for next RSP? just so as to unlock the investment cat.

What do you have previously?

 

[maumu]

What do you have previously?

some UT which was already part of my portfolio.

 

[cassowary18]

New updates to DBS Multiplier that you might be interested in (https://www.dbs.com.sg/personal/deposits/bank-earn/multiplier):

• You can use SGFinDex to fulfill the "income" criteria. You will need to refresh DBS NAV Planner monthly in order for this criteria to be fulfilled. Don't think it counts towards eligible transactions though, but a good replacement if you don't have your salary credited to the account.
• Single Premium Policy now counts for insurance. The monthly premium amount will be calculated by dividing the single premium amount by 120. Recognition starts 1 month after policy inception and continues for 12 consecutive months as long as policy is in force.
• UT Lump Sum investment expanded to include cash, SRS, or CPF.
• digiportfolio and Bonds & Structured Products now count for Investment criteria.

Too bad the interest rate still too low for me to be interested.

 

[demoforce1]

New updates to DBS Multiplier that you might be interested in (https://www.dbs.com.sg/personal/deposits/bank-earn/multiplier):

• You can use SGFinDex to fulfill the "income" criteria. You will need to refresh DBS NAV Planner monthly in order for this criteria to be fulfilled. Don't think it counts towards eligible transactions though, but a good replacement if you don't have your salary credited to the account.
• Single Premium Policy now counts for insurance. The monthly premium amount will be calculated by dividing the single premium amount by 120. Recognition starts 1 month after policy inception and continues for 12 consecutive months as long as policy is in force.
• UT Lump Sum investment expanded to include cash, SRS, or CPF.
• digiportfolio and Bonds & Structured Products now count for Investment criteria.

Too bad the interest rate still too low for me to be interested.

Is this mean we need to topup digiportfolio $1k every month?

digiPortfolioNEW

• Valid for new digiPortfolio purchased/ top-ups after Multiplier Account is opened
• Minimum qualifying amount is S$1,000
• The investment amount will be recognised for the month post settlement date

 

[cassowary18]

Is this mean we need to topup digiportfolio $1k every month?

digiPortfolioNEW

• Valid for new digiPortfolio purchased/ top-ups after Multiplier Account is opened
• Minimum qualifying amount is S$1,000
• The investment amount will be recognised for the month post settlement date

Yes 10char

 

[maumu]

don't quite get it. what's the difference between this digiportfolio and normal $100/mth RSP?