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Anonymous

07 Sep 2020

∙

General Investing

The regular savings plan option to fulfil the category of investment for DBS multiplier last for only 12months. What should I do after if I want to continue with an RSP?

What should I do after if I want to continue with an RSP if I want to fulfil the investment category to earn higher interest on DBS multiplier after?

Does it work if I terminate the RSP amount and add a new amount? Or must I sell off the RSP and set it up again? Or does it have to be a new fund etc.?

Also, must the amount be directly deducted from the DBS multiplier account or can it be deducted from another DBS account under the same name?

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Tennett

07 Sep 2020

Hi there,

1) What to do after the 1 year has lapse? You’d have to RSP onto another fund to “restart” the 1 year limitation. E.g After 1 year of RSP in fund A, you’d have to RSP in fund B to restart the 1 year period. Another thing to note is, there’s a “cool down” period of 6 months before fund A can requalify for multiplier investment category.

2) Do I have to terminate current RSP after 1 year?
The answer is no. But, you’d have to RSP into another fund as mentioned above. You can still continue RSP-ing into the first fund but will not fulfil the investment requirement.

3) Deductions from any DBS account under your name can contribute towards the multiplier requirements.

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Related Posts

Hi Seedly fans! I have a question about the DBS multiplier investment category. I set up a regular savings plan with DBS and was wondering how long will my RSP count as an investment category?

I'm looking to start on the Regular Shares Savings Plan with $300 monthly, and deciding between DBS Invest Saver or OCBC Blue Chip Plan. Any advice on which option is better?

Is it possible to cancel my POSB regular savings plan and re-sign up to qualify for extra interest under the 'Investments with DBS/POSB' category for the Multiplier account?

I have a DBS Multiplier account and would like to use their Regular Savings Plan (RSP)to purchase funds/ETFs?

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