Trust Bank Singapore, New Digital Bank Freebies!

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Have you applied for your Savings Account or Credit Card with Trust Bank Singapore, Singapore's digital bank backed by a unique partnership between Standard Chartered Bank, and FairPrice Group? REFERRAL CODE: BZACYE0F ( it is a number zero, not letter ) Get $35 worth of free Fairprice vouchers and other freebies by just Downloading the Trust App and Open a Savings Account online with the App, simple/easy within 10mins!: Get free $10 Fairprice E-voucher (no minimum spend at stores/online) by entering this code ( BZACYE0F ) when apply for the Savings Account. Get free 1kg Fairprice Rice voucher Get free Kopitiam Breakfast Toast Set voucher Charge one transaction to your debit card to get free Fairprice $25 voucher (no minimum spend, at stores/online). Hack: Do a funds transfer of $1 or $10 from your own bank to Trustbank savings account. Then Just add your debit card number to Grab App, authenticate with $1 charge/refunded to your saving...
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DBS Invest-Saver RSP Strategy (Multiplier Bonus Interest)




The previous cashback promo offers full rebate on sales charge for RSPs until July 2020. Do u know u can potentially extend this cashback for RSPs to October 2020 (ie 3 more mths)?

Yes, but u need to carefully plan your RSP investment strategy. Why?

Understanding the New Promo:

1. From May to July 2020, there is a DBS Invest-Saver cashback promotion for full rebate on sales charge for RSPs until October 2020 (6mths).

2. The tnc state that u must not have any RSP holdings at the time u start your RSP.

3.  This means u have to terminate and redeem your current RSP holdings first before u can start a new RSP with a different fund to enjoy the rebates.

4.  How much can I potentially save? 0.82*3 = $2.46 or 0.5*3=$1.50

5.  Is it worth the effort? If I purchase funds with sales charge of 0.82%, it might be worth it.


How can I benefit from this new promo?

1.  I started a new RSP UT(2) in Feb 2020 because I closed and opened the Multiplier Account to get CNY Angbao of $200, plus enjoy cashback on sales charge until July 2020 ( I closed/redeemed the previous RSP UT(1).

2.  Due to the stock market crash, my RSP holdings went negative (now recovered to less than $1 loss from $11). It was a mistake choosing this Bond UT which has some equity holdings which I overlooked.

3.  I decided I should not continue to add good money to bad money. So I started RSP UT(3) in April 2020

4.  So far, this RSP UT(3) is making money, to help cover the loss of RSP UT(2).

5.  This month, I terminated the RSP UT(2), after 3 mths of deductions to qualify for cashback. I will wait for its recovery and divdends to be paid on 1 July before I redeem. I received dividends in April which help offset part of the loss.

6.  To enjoy the new promo, I will need to terminate and redeem both the RSP UT(2) &UT(3) before July 14. I can only terminate the RSP UT(3) in July to qualify for cashback under the previous promo. Hopefully, both will have profits or minimal loss.

7.  Then I will have to start a RSP UT(4) on July 14 to qualify for cashback under the new promo, to receive cashback from July to Oct 2020. Oops, so much work just to save $1.50 and I am running out of stable UT to buy, haha.



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