DBS changed its Mutiplier plan

[vsvs24]

Actually got other Manulife insurance can buy.

but wouldn’t be cheap

I checked. All upto age 60.

Would be happy to be proven wrong.

 

[reddevil0728]

Oh is it, thats good info

Where did they say need $1?

they just say need to spend ma.

the minimal transactional value is $0.01 for Singapore.

Is it you just assume it’s $1?

IIRC, last time my sister use the POSB Passion Wave debit card, seems like it counts towards CC spend also

Doesn’t seem like it based on what they say on website. Maybe it’s for something else.

 

[CaptainWu]

What I do is, i open a joint DBS "My Account" with my sister and father, then me and my sister credits into this joint account. My father and sister both have their own credit card spending, anyway just minimum $1 to hit the credit card category. All of us have our own RSP arrangement, thus we clock 3 category this way for all of us

Yep that works as I do similarly. Just that my wife's supplementary credit card's usage do not counted so use paylah instead.

 

[Alex K]

Above 60 can't even find any eligible insurance. Retirement age already increased past 60 and seniors still working cannot get max for DBS Multipler

Can consider Manulife Goal, but need to put 5k min amount.

 

[a4973]

Can consider Manulife Goal, but need to put 5k min amount.

I believe Manulife Goal does not count for DBS Multiplier as it is not distributed by DBS.

 

[Alex K]

I believe Manulife Goal does not count for DBS Multiplier as it is not distributed by DBS.

Manulife Goal is under rhe Insure tab on DBS Website. Can signup till age 75.
But needs to be done at the bank itself, not online.
I have been using it to unlock my Insurance Category.

 

[a4973]

Manulife Goal is under rhe Insure tab on DBS Website. Can signup till age 75.
But needs to be done at the bank itself, not online.
I have been using it to unlock my Insurance Category.

That's a great revelation . Confirm that you have purchased Manulife Goal already and you are getting your Multiplier Insurance component clocked? Thank you.

 

[F1ngolf2012]

One idea come to me ... as my earmark for the previous 3% going to end in late April, I should have deposited another $100k into my Multiplier, earmark this amount for the 2.6%, ....

And when the 3% earmark ends, I transfer the earlier $100k out ... this way there is only an overlap of one month!

The Promotion period is from 17 March to 15 May 2025 1200hours. Your previous 3% promo ends late April. Wouldn't this be in time to have the same $100k in Multiplier account to be earmarked for this 2.6% promo?

 

[Alex K]

That's a great revelation . Confirm that you have purchased Manulife Goal already and you are getting your Multiplier Insurance component clocked? Thank you.

Yes, confirmed clocked under Insurance cat for last few years.
Just go for lowest possible amount, and lowest period, if you are interested in unlocking Insurance category
Edit: Do note that this Single Premium is recognised for 12 months only. After that, need to repeat this for next 12 months. Do read up the rules on Multiplier Insurance category.

 

[Squaredot]

guys, finally insurance category is updated for SavvyEndowment policyholders.

 

[bryant_16]

guys, finally insurance category is updated for SavvyEndowment policyholders.

What's the minimum for savvy endowment?

 

[reddevil0728]

What's the minimum for savvy endowment?

website got say leh. you never see?

• Start from a low single premium commitment amount of just S$5,000

 

[world weary]

Oh, the payout is by end Mar.. can can, shall keep a lookout

Hihi was wondering if you managed to get the full $500 payout. I only just received the $300 salary credit award. Didn't receive the $200 spend reward for some reason

 

[Tetrafox]

Anyone knows if redemption of funds from Endowus (or any other similar platforms) count towards salary transaction amount?

I was surprised to see a significant increase in my transaction amount under "salary" component. The increase in amount was almodt exactly (55c differnce which i cant figure) the amount I redeemed from my Endowus Cash Smart goal.

 

[maumu]

Anyone knows if redemption of funds from Endowus (or any other similar platforms) count towards salary transaction amount?

I was surprised to see a significant increase in my transaction amount under "salary" component. The increase in amount was almodt exactly (55c differnce which i cant figure) the amount I redeemed from my Endowus Cash Smart goal.

I think you already answered your own question

anyway there should be a breakdown of the qualifying transactions which you can check (via the app). maybe it'll say what kind of transaction it was...

 

[reddevil0728]

Anyone knows if redemption of funds from Endowus (or any other similar platforms) count towards salary transaction amount?

I was surprised to see a significant increase in my transaction amount under "salary" component. The increase in amount was almodt exactly (55c differnce which i cant figure) the amount I redeemed from my Endowus Cash Smart goal.

it depends on what code it designated as

 

[Tetrafox]

I thought this was a pretty neat hack.
Don't seem to have read about it before.

So every month I can just reinvest and re-redeem the same 10k~20k to boost my multiplier transaction amount and achieve the maximum tier of 4.2%.

Plus, the holding risk seems very low based on the past few years experience holding this Endowus goal.

 

[reddevil0728]

I thought this was a pretty neat hack.
Don't seem to have read about it before.

it's not a hack if it's accounted for.

It's up to the party depositing the amount to determine the "code". if it happens to fall within the code required for DBS multiplier, then it will work.

According to DBS...

Income
You can qualify with any of the following:
Salary Credit to any DBS/POSB Deposit Account

• Credit your salary into your DBS/POSB SGD-denominated account via GIRO/FAST/PayNow with transaction code “SAL”/“PAY” or transaction description “SALARY”/“PAYROLL”/“COMMISSION”/“BONUS”.

Email your HR to credit your salary with DBS today.
Dividends Credit

• Credit your dividends via GIRO/FAST/PayNow with transaction code “CDP”/“NDIV” or transaction description “DIVIDEND” into your DBS/POSB account, DBS Wealth Management Account, Supplementary Retirement Scheme (SRS) Account or CPF Investment Account (CPFIA)
• Eligible dividends include Central Depository Pte Ltd (CDP), DBS Vickers Securities, DBS Online Equity Trading (OET), DBS Unit Trusts, DBS Online Funds Investing, DBS Invest-Saver.

Switch your dividend credit to DBS today. Log in to your CDP account to change your bank account details for Direct Crediting Service.
Annuities

• Credit your CPF payouts or SRS withdrawals via GIRO/FAST/PayNow with transaction code “CPF”/“SRS” or transaction description “CPF”/“SRS” into your DBS/POSB account.

Switch your CPF payouts or visit any of our branches to do an SRS Account transfer to DBS today.

So every month I can just reinvest and re-redeem the same 10k~20k to boost my multiplier transaction amount and achieve the maximum tier of 4.2%.

Plus, the holding risk seems very low based on the past few years experience holding this Endowus goal.

well there are many different ways.

 

[chiokcc]

Dividends credited to savings or SRS accounts qualify for Income category ....

However, based on my own experience, money coming back from delisting of some share counters, going into SRS is not captured as "Div", while those going into savings account is captured as "Div" ......

 

[Tetrafox]

Thanks for the info.
I have no problem with hitting the category. I have a problem with hitting the transaction amount for the highest tier.
My dividends + salary not so high XD