facebookThe 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? - Seedly

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?

Discussion (3)

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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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