Asked on 10 Jun 2019
The OCBC Blue-Chip Investment provides you with 20 counters to choose from (which is a good number) and you can start from as little as $100/month.
If you are looking to engage in fuss-free dollar-cost averaging at an affordable amount then this is the plan for you! (fuss-free as you can automate the investment deduction) It also has one of the lowest charges in comparision with the other competitors.
They currently have a promotion (until 30 Jun) where you get $20 cashback if you invest in 1 or more counters for 3 consecutive months.
There was also an article on Seedly that compared between the 3 providers of Regular Shares Savings Plan:
OCBC Blue-Chip Investment Plan
DBS Invest Saver
PhillipCapital Shares Builder Plan
Hope this helps!
Choose a counter that you are familiar with. There are 20 counters you can take a look here https://www.ocbc.com/personal-banking/investments/bcip-counters-list.pdf
Invest in an amount you are comfortable with per month. But do take note on fees. Fees are $5 or 0.3% of investment monthly amount whichever is higher.
So if you invest $100 per month and you are being charged $5, your fees are 5% of your capital.
If you invest $2,000 per month, your fees will be cap at $5 which equates to about 0.25% of your capital.
Even though I understand most will want to save on the fees, but the first thing that you would want to know is how long are you intending to invest and what is the comfortable amount you will want to invest in.
Irregardless of whether you can save the most of the fees, getting started will be more important.
Won't touch it. The breadth of counters available pale in comparison to maybank ke's soon to be defunct MIP. There are many good counters out there, such as the mapletree reits that are not available under ocbc's plan. Until something similar to ke's MIP surfaces, I may just hold off doing dca into local market stocks and channel the funds to my offshore account instead.