POSB Cashback Bonus

[POSB]

Earn up to $130/ month for the banking that you do! How?
Easy! You just need to fulfill at least 3 types of regular banking transactions to enjoy cashback rewards from POSB Cashback Bonus (go.dbs.com/POSBCashBackBonus)

The transactions are:
• Salary Crediting (min amount of S$2,500)
• Credit Card spend (no minimum amount, across all POSB and DBS credit cards, if you have and use multiple cards)
• Home Loan/Mortgage (no minimum amount required, applies to new and existing home loans with DBS/POSB)
• Insurance (if you take up insurance products with POSB or DBS, applies only to new applications, no minimum amount required)
• Invest through POSB/DBS (e.g. POSB Invest Saver, no minimum amount required, applies only to new applications)
Do note that the cashback you’ll be getting is based on your banking transaction amount, and not the amount you have in a specific deposit account. To find out how much you’ll be getting try out our calculator here – go.dbs.com/POSBCashBackBonusCalculator

And yup, there’s also no need to open a new POSB or DBS account, the ones you already have work just fine.

Keen? Interested? Enrol for POSB Cashback Bonus instantly through iBanking!
Simply….
1. Go to “Request” tab
2. Select “Opt-in Bank & Earn Programme”
3. Under POSB Cashback Bonus, select “Instant Enroll”
4. Nominate account for crediting of cashback
5. Verify the details
6. “Submit” to confirm enrolment

POSB Cashback Bonus – go.dbs.com/POSBCashBackBonus
Calculator – go.dbs.com/POSBCashBackBonusCalculator
Link to T&C – go.dbs.com/POSBCashBackBonusTnCs

 

[hummer]

Interesting.

Get $$$ just by executing those tasks?

 

[Mecisteus]

Basically, POSB is pulling back "lost" clients to credit salaries into their accounts.

1) The bonuses are not tied to any account balances.
2) The bonuses are tied to the amount of salary, spending, investment, loan, etc.

 

[Trazora]

I already using credit card and have Home Loan, just need to start POSB Invest Saver and then can use the $20+$30+$30 as free cash to fund my POSB Invest Saver

edit: just noticed the monthly cashback is a % of the total monthly transaction. ie not a single lump sum of $20 or $30 cashback for fulfilling each requirement.

Salary crediting: 0.3% (capped at $20)
Card spend: 0.3% (capped at $20)
Home loan: 3% (capped at $30)
Insurance: 3% (capped at $30)
Investment: 3% (capped at $30)

 

[chuanz]

I already using credit card and have Home Loan, just need to start POSB Invest Saver and then can use the $20+$30+$30 as free cash to fund my POSB Invest Saver

Pls note only counted for 12 months!

Monthly contribution to Unit Trust Regular Savings Plan and POSB InvestSaver: This must be purchased through DBS/POSB in cash (not using funds from your Central Provident Fund or Supplementary Retirement Scheme account) and will only be included as an Eligible Transaction for 12 consecutive contributions per investment fund.

 

[hummer]

I got the following error when I clicked on Instant Enrol

You currently do not have any eligible accounts to enrol for this programme. (95133)

I have a POSB Savings account currently. However, I have not arranged my salary to be credited in. Do I need to do that first?

 

[chuanz]

I got the following error when I clicked on Instant Enrol

You currently do not have any eligible accounts to enrol for this programme. (95133)

I have a POSB Savings account currently. However, I have not arranged my salary to be credited in. Do I need to do that first?

Don't think so. I'm holding POSB eSavings account and do not have salary credit at the moment but able to enrol.

 

[lewissac]

Haha, I just moved from POSB to BOC and now they came up with this idea.

 

[Trazora]

Haha, I just moved from POSB to BOC and now they came up with this idea.

Lol can have both.

 

[chiokcc]

Lol can have both.

I am already on DBS Multiplier, still can join this?

 

[Trazora]

I am already on DBS Multiplier, still can join this?

Think you need to choose between the 2. If you still want DBS Multiplier, don't enroll for POSB Cashback Bonus. If not, you should close the DBS Multiplier account before enrolling for POSB Cashback Bonus.

http://www.posb.com.sg/personal/lan...TS-Cashback-Forum-HardwareZone-FY16_Cashback-

1.1 You can either hold a DBS Multiplier account (“Multiplier Account”) or be enrolled in POSB Cashback Bonus at any point in
time.
1.2 In the event that you hold a Multiplier Account and are concurrently enrolled in POSB Cashback Bonus, we reserve the right
without prior notice to you to:
(a) close your Multiplier Account and transfer the available balance to any of your existing DBS/POSB deposit accounts;
or
(b) de-enrol you from POSB Cashback Bonus.

 

[Trazora]

Pls note only counted for 12 months!

Monthly contribution to Unit Trust Regular Savings Plan and POSB InvestSaver: This must be purchased through DBS/POSB in cash (not using funds from your Central Provident Fund or Supplementary Retirement Scheme account) and will only be included as an Eligible Transaction for 12 consecutive contributions per investment fund.

Thanks for pointing this out. Assuming this promo will last till 12 months, I will then apply for another ETF.

 

[lewissac]

Lol can have both.

Lol, tried.

I can't fulfill. They need at least 3 transactions. So far I can only fulfill the investment and card spent.

 

[Trazora]

Lol, tried.

I can't fulfill. They need at least 3 transactions. So far I can only fulfill the investment and card spent.

Oic, maybe see if feasible to fulfill the mortgage loan, or see if it is more worthwhile to do the salary crediting and get $20+$20+$30 which I think is better than the 1% bonus interest with BOC.

 

[lewissac]

Oic, maybe see if feasible to fulfill the mortgage loan, or see if it is more worthwhile to do the salary crediting and get $20+$20+$30 which I think is better than the 1% bonus interest with BOC.

LOL. I don't have a house here. I rent rooms.
At least for me, it's worthwhile to put on BOC, since I can literally make balance money work harder to give me interest.

I tried the cashback calculator, if I tried salary crediting + card spend + investsaver, I can earn $12.90 per mth. That's lower by more than half of what I could gain from BOC interest/ mth unfortunately. Increasing my investsaver by double the amount increase the cashback to $15.90, thats still way less than BOC's giving me.

 

[luvalist]

just saw this too. Seems good as I have the multiplier account which I am still accumulating my savings. This looks like will give me more than my interest in Muliplier.

Anyone joining? I have existing home loan and credit salary and credit card spending. Should count right? Unfortunately both programs excludes my existing Investsaver contribution.

 

[numbers]

use so many year POSB sian....i no home loan, dont want to buy insurance or unit trust from banks.

Like that no cashback for me.......

 

[Trazora]

LOL. I don't have a house here. I rent rooms.
At least for me, it's worthwhile to put on BOC, since I can literally make balance money work harder to give me interest.

I tried the cashback calculator, if I tried salary crediting + card spend + investsaver, I can earn $12.90 per mth. That's lower by more than half of what I could gain from BOC interest/ mth unfortunately. Increasing my investsaver by double the amount increase the cashback to $15.90, thats still way less than BOC's giving me.

Oic, just noticed the monthly cashback is a % of the total monthly transaction.

Salary crediting: 0.3% (capped at $20)
Card spend: 0.3% (capped at $20)
Home loan: 3% (capped at $30)
Insurance: 3% (capped at $30)
Investment: 3% (capped at $30)

 

[Trazora]

just saw this too. Seems good as I have the multiplier account which I am still accumulating my savings. This looks like will give me more than my interest in Muliplier.

Anyone joining? I have existing home loan and credit salary and credit card spending. Should count right? Unfortunately both programs excludes my existing Investsaver contribution.

Think it depends whether you earn more from the interest of DBS multiplier or from the POSB Cashback bonus. Need to do some calculation considering card spend/salary crediting is 0.3% cashback (capped at $20), home loan/invest/insurance is 3% cashback (capped at $30)

 

[luvalist]

Think it depends whether you earn more from the interest of DBS multiplier or from the POSB Cashback bonus. Need to do some calculation considering card spend/salary crediting is 0.3% cashback (capped at $20), home loan/invest/insurance is 3% cashback (capped at $30)

For me, definitely cashback bonus is higher luckily I had the multiplier for 6 months already, can close liao.

This is really good for people with existing dbs home loan. Wondering how to make it work for my SO since he already have the home loan and easily hit the credit card spend (spend something can already)