POSB Cashback Bonus

[royalmix]

thanks for all your tips, very helpful! I'm getting started on this too.
just thinking aloud can I set up this Nikko AM Shenton Short Term Bond Fd (S$) - SGD - Cash as a RSP?
(1) clock the sales rebate promotion up to S$125 (July to Dec so S$25) https://www.dbs.com.sg/personal/promotion/invest-saver
(2) and then cancel the RSP and continue doing Lump Sum from Jan 2024 onwards?

or am I missing something here (other than the hassle/over-optimisation)?

I've actually gone ahead and set it up and it just made its first deduction.... now I don't know whether it's gonna make any deduction on the 15th

When I setup RSP, it only deduct on the 15th (few years ago). So not sure what u did to get a deduction now?

 

[wilflare]

When I setup RSP, it only deduct on the 15th (few years ago). So not sure what u did to get a deduction now?

I realised my mistake. I put my Purchase Amount and Monthly Amount both as S$1000.
I previously put Purchase Amount as S$0 but there was an error prompt, turns out I just needed to keep it blank for it to proceed

 

[glorfindel]

For RSP, can set monthly 1000 and POSB cashback will be 30 each month? and get back the 5 dollars fee as well from the invest-saver promo? The unit trust can be sold immediately?

 

[Trazora]

For RSP, can set monthly 1000 and POSB cashback will be 30 each month? and get back the 5 dollars fee as well from the invest-saver promo? The unit trust can be sold immediately?

yes, note that need min 3 categories to get cashback

 

[glorfindel]

yes, note that need min 3 categories to get cashback

Thanks!

 

[sohguanh]

Thanks!

Take note if you going for salary credit category the minimum is 2500 which mean gross salary about 3000+ before any cpf deduction for SC,SPR. My relative (semi-retired) try first time and feedback to me why tracker no move after he hit 3 categories and I go read TnC further then know.

 

[glorfindel]

Take note if you going for salary credit category the minimum is 2500 which mean gross salary about 3000+ before any cpf deduction for SC,SPR. My relative (semi-retired) try first time and feedback to me why tracker no move after he hit 3 categories and I go read TnC further then know.

I'm transferring salary to UOB so it's the reason I'm looking at investment to make up the third category

 

[chopra]

if you sell immediately upon credit. the performance doesn't matter?

I notice nikko am Singapore sti. Etf AND Abf Singapore bond index sales charge are 0.82% n 0.5% respectively. Whats a good alternative to former?

 

[sglandscape]

I'm transferring salary to UOB so it's the reason I'm looking at investment to make up the third category

Why not try use another bank and move 2500 back to your POSB account using GIRO with salary as purpose code? Just make sure to not select FAST, but would lose 2-3 days interest and the funds take a few days to show up

 

[reddevil0728]

I notice nikko am Singapore sti. Etf AND Abf Singapore bond index sales charge are 0.82% n 0.5% respectively. Whats a good alternative to former?

Look at the other available ETFs?

 

[glorfindel]

Why not try use another bank and move 2500 back to your POSB account using GIRO with salary as purpose code? Just make sure to not select FAST, but would lose 2-3 days interest and the funds take a few days to show up

Does that work? Anyone tried it?

 

[sglandscape]

Does that work? Anyone tried it?

You may want to try, have seen others suggesting it, don't think anyone has confirmed or would confirm it though.

 

[royalmix]

Does that work? Anyone tried it?

Believe in the tnc, so long you comply:

Terms and conditions:
(a) Salary must be credited via GIRO, using transaction reference codes of ‘SAL’ or ‘PAY’, into any POSB/DBS SGD-denominated savings/current accounts held by you, either singly or jointly.
(b) Salary credited must be reflected as either GIRO Salary or Salary under the main transaction description in your Statement of Account.
(c) Minimum amount of S$2,500 is required to be qualified.

Q1) How can I check if my salary credit transaction is eligible?
You can check your Statement of Account. If the main description of the transaction is “SALARY” or “GIRO SALARY”, it is eligible.

(disclaimer: I dun play this game)

 

[chopra]

Look at the other available ETFs?

i saw but i scare the spread is high and want to tap on investors experience . im just trying to fast in fast out to earn posb cashback.

i saw nikko am sgd investment grd corp bd etf sgd ydis cash

i am also surprised that nikko sti etf is 0.8%. iirc, it was 0.5% in e past(?).


Read HWZ Forum Rules!

 

[reddevil0728]

i saw but i scare the spread is high and want to tap on investors experience . im just trying to fast in fast out to earn posb cashback.

i saw nikko am sgd investment grd corp bd etf sgd ydis cash

i am also surprised that nikko sti etf is 0.8%. iirc, it was 0.5% in e past(?).


Read HWZ Forum Rules!

if you are doing it the day it gets credited. tbh it's really very immaterial difference in the grand scheme of things.

I will however prioritise going for the one with the lowest fee.

equity/reit etf has always been the higher fee of 0.82%. fixed income then is 0.5%

 

[chopra]

if you are doing it the day it gets credited. tbh it's really very immaterial difference in the grand scheme of things.

I will however prioritise going for the one with the lowest fee.

equity/reit etf has always been the higher fee of 0.82%. fixed income then is 0.5%

tks dude

 

[Imhthc]

I notice nikko am Singapore sti. Etf AND Abf Singapore bond index sales charge are 0.82% n 0.5% respectively. Whats a good alternative to former?

Go for fixed income rather than equity etf. Volatility is not as aggressive for fixed income compared to equity especially when u redeem on the day it gets credited. The max I lost for fixed income was $12 from $1000 rsp. Equity I haven’t tried yet. Need a lot of luck.

 

[reddevil0728]

Go for fixed income rather than equity etf. Volatility is not as aggressive for fixed income compared to equity especially when u redeem on the day it gets credited. The max I lost for fixed income was $12 from $1000 rsp. Equity I haven’t tried yet. Need a lot of luck.

May not be necessary true.

if you were to have purchased FI when interest is low and u sell now you will make quite a big loss.

if you are looking at just clocking the category, just get the one with cheapest fee and just redeem it the day it gets credited.

 

[Youmigratecanotherscant]

Hi gurus. Thank you for giving me the guidance and I am abke to maximise the cashback bonus for a few months already.

I am using Chubb fire insurance for my hdb.
can I buy DBS marketplace home protect to replace the basic compulsory hdb fireinsurance.


will it trigger the cashback bonus under the insurance section of the posb cashback bonus ?

now paying $59.90 for Chubb fire insurance. Is there any alternative regardless of the cashback bonus ? what’s the cheapest hdb fire insurance ?

 

[reddevil0728]

Hi gurus. Thank you for giving me the guidance and I am abke to maximise the cashback bonus for a few months already.

I am using Chubb fire insurance for my hdb.
can I buy DBS marketplace home protect to replace the basic compulsory hdb fireinsurance.


will it trigger the cashback bonus under the insurance section of the posb cashback bonus ?

now paying $59.90 for Chubb fire insurance. Is there any alternative regardless of the cashback bonus ? what’s the cheapest hdb fire insurance ?

Cashback Bonus recognises all Manulife Regular Premium insurance policies distributed by DBS/POSB. No minimum premium amount required.​