I am a fresh grad interested in maximising my interest with DBS Multiplier! I have two basic questions on the investments and credit card categories of the account. ? - Seedly
 

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Asked by Anonymous

Asked on 24 May 2019

I am a fresh grad interested in maximising my interest with DBS Multiplier! I have two basic questions on the investments and credit card categories of the account. ?

  1. I wish to get the POSB Everyday card. However I do not wish to pay the $192 annual fee, and intend to use the card just to satisfy the multiplier criterion ($1 per month). How likely will my annual fee be waived? Understand that it’s common practice to call to request annual fee waiver.
  1. I roughly understand the concept of Unit Trusts but navigating the dbs website throws me off. Can anyone share a basic framework on how to approach UT investing with DBS?
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Einn Hann
Einn Hann
Level 1. Freshie
Answered on 13 Jun 2019
  1. Yes, you don't even need to call in to request to waive off the annual fee. You can just submit a request thru internet-banking. You may referring to this http://sgbeyourownboss.com/dbs-3-8-high-interest-saving-account/.
  1. For investment, you can consider POSB Invest-Saver, or buying SSB. The dividend credited in your DBS account will be counted.

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Gabriel Tham
Gabriel Tham
Level 8. Wizard
Answered on 24 May 2019

Very likely to get waiver. POSB/DBS is one of the most lenient when it comes to waivers. I also spent close to nothing on their card, still waived.

Process to waive also super easy. Now everything is done in ibanking. just fill in a form, 2-3 clicks, and its sent in. Wait few days, it should be waived.

For unit trusts, I personally do not recommend getting from banks. They typically charge a high sales fee. My guess is you are trying to fulfill the investment criteria, and for this I recommend Singapore savings Bond.

Buying singapore savings bond consecutively for 6 months and you will be getting interest for every month. This will trigger the investment category of multiplier account. Minimum to buy singapore savings bond is $500, fee is $2. Backed by sg govt so its pretty safe.

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