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Anonymous
Will I be making a loss with DBS's Regular Savings Plan (RSP)?
Hi, I am thinking of starting a Regular Savings Plan (RSP) with DBS and was thinking, if I only earn a cents quarterly but pay $200/month @ a 1% fee = $2, will I continue to make a loss in the long run?
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Victor
26 Jun 2021
Financial Service Consultant at AIA
Now there are better options like tiger
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Cedric Jamie Soh
14 Sep 2019
Director at Seniorcare.com.sg
$200 per month is still YOUR money, albeit in investments for the long run.
$2 per month (or 1%) i...
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Honestly, I will not enter into such a plan. You will just be sucked dry, paying the bank $2 pm (i.e. 12 % p.a) for providing this service to put money in monthly. I can make much more return per month on my own with options trading. Money in the bank only reduces with time. Do you know why? Inflation per year is way more than the interest you receive from the bank and worst, the bank charges 12% fee a year - sounds like robbery to me.