DBS changed its Mutiplier plan

[DevilPlate]

not that desperate, because only selected ppl got this offer. My RM is simply and hopelessly useless to me and while not a treasures private bank client (yet), I am AI with them.

Come to think of it the opposite is true- my RM is probably saying I am utterly and hopelessly useless to him, hence he might be thinking : "forget about sending offer to this clown, not earning a single cent from him off investments/ insurance."

RM only keep in touch with you on products they can earn comm and clock their KPI

 

[DevilPlate]

Good observation If you know what is going on or happening in that space in the past few mthsI

In the ongoing competition to attract affluent clients, the bank is offering more aggressive incentives compared with other banks. These offers reflect the heightened urgency to rapidly increase their assets under management and secure greater market share in a highly competitive environment!

In order to maintain their current high share price

 

[~sabaisabai~]

they could also be making good revenue on the investment/insurance category?

Dbs make profit lah. Else how they could give good dividend to shareholders. And sometimes back they give free shares to shareholders

 

[reddevil0728]

Dbs make profit lah. Else how they could give good dividend to shareholders. And sometimes back they give free shares to shareholders

is not free shares eh. is essentially like dividend jsut that in the form of shares

 

[sglandscape]

DBS Treasures up their game with their targeted invite with a special $200k cap multiplier promo for new Treasures

Spoiler

Edit: Aiya, for 3 months only

3 months not bad what, do 200k + lock in their casa promo, but then would lose one month of interest.

 

[chiokcc]

Is this CASA promo the 1.48% pa for 3 months promo?

 

[sglandscape]

I also received this offer, but usually I do not put much in DBS. So DBS is desperate?

If desperate would do FD instead, other banks all cutting rates but yet DBS still can maintain, double down now!

 

[Devilsire]

If desperate would do FD instead, other banks all cutting rates but yet DBS still can maintain, double down now!

actually all banks cutting interest rates
just that banks are now moving towards competing to grab market share of affluent clients to their investment+insurance+loans+income/spending arms, like what @royalmix mentioned earlier
thus most of them pushing HYSA categories promo eg. bonussaver, multiplier, 360 etc
in simple words, they want more than just parking $ with them, they want you to spend via them

 

[reddevil0728]

It's free
If own 100 share. We have 10 share free. I got it leh. Where got not free?

It's not dividends. It's free share

then like that are dividends also free? if you are saying dividends are free then using that logic ok lor

but if you are saying dividends aren't free but this is free. then doesn't make sense lor

 

[~sabaisabai~]

Is this CASA promo the 1.48% pa for 3 months promo?

1.58% at the branch. Its less than 4mth. Started 1 sep

 

[~sabaisabai~]

then like that are dividends also free? if you are saying dividends are free then using that logic ok lor

but if you are saying dividends aren't free but this is free. then doesn't make sense lor

I don't understand what you are trying to say. Whatever. U said dividend then dividend lo. U happy can liao

 

[reddevil0728]

I don't understand what you are trying to say. Whatever. U said dividend then dividend lo. U happy can liao

is not whether i happy or not. but if you don't want to talk logic, it's ok. i understand

 

[chiokcc]

1.58% at the branch. Its less than 4mth. Started 1 sep

Oh, thanks ....

 

[~sabaisabai~]

Oh, thanks ....

Still have endowment. U try to refresh browser

 

[~sabaisabai~]

If desperate would do FD instead, other banks all cutting rates but yet DBS still can maintain, double down now!

Their FD still not too bad.

 

[iadpotato]

it might not show up because of screw up, doesn't mean they are not obligated to pay it.

Then isn’t it confirm got.. duh

 

[reddevil0728]

Then isn’t it confirm got.. duh

I mean I was referring. To this when you reply to someone asking if it’s registered.

i’m talking about the registration part

so far is your insurance category for sep registered yet?

Not yet, but mine sure confirm chop in one. Been doing it for years already.

 

[sglandscape]

Their FD still not too bad.

But limited to 20k only

 

[sglandscape]

actually all banks cutting interest rates
just that banks are now moving towards competing to grab market share of affluent clients to their investment+insurance+loans+income/spending arms, like what @royalmix mentioned earlier
thus most of them pushing HYSA categories promo eg. bonussaver, multiplier, 360 etc
in simple words, they want more than just parking $ with them, they want you to spend via them

For investment, only ever do money market funds with banks, the rest of them the fees are so high not worthwhile. For insurance, usually property insurance, single premium endowenment and travel insurance still ok, the rest of them they are usually not competitive.

 

[Shalom_555]

actually its a no brainer

Giving up 1.58%*26/365*100k=$112.55 interests to earn 1.58%*97/365*100k=$419.89 more
i.e nett $3231 vs $2924


But needa go clarify on these either via Relationship manager or branch:
1) no other penalty fees other than forfeit of interests accrued for withdrawal of Casa promo
2) availability of Casa promo in Oct
3) possibility to register Casa promo (1.58% 4mth) again, with the multiplier account (previously registered & withdrawn in Sep)

If CASA is still available in Oct, rate is likely to drop given current low interest sentiment