How to set up a RSP on DBS Digibank: A comprehensive step-by-step guide

By Beansprout • 12 Apr 2023 • 0 min read

Learn how to set up a Regular Savings Plan (RSP) on DBS Digibank with this easy-to-follow guide. Discover the benefits of RSPs and get started on investing today.

DBS Invest Saver RSP Multiplier Invest

In this article

0 min read

What is DBS Invest-Saver?

DBS Invest-Saver is a regular savings plan (RSP) to help you get started on your investment journey in a simple and smart way. It helps you to invest a fixed sum, from S$100, steadily and progressively each month.

Over time, the cost of your investment averages out, which helps you to reap the rewards of dollar-cost averaging.

How does a RSP using DBS Invest-Saver work?

You can choose a fixed amount of money to set aside each month to invest in your choice of Exchange Traded Funds (ETF) or Unit Trust (UT) available on Invest-Saver, repeatedly.

The sum that you have selected is deducted from your designated DBS savings account on the 15th of each month or on the next business day.

Step-by-step guide to setting up an Invest-Saver plan for Exchange Traded Funds

Log into DBS digibank and follow these steps:

Step 1: Upon login, go to Invest > select More Investment Services

Invest saver step 1
Source: DBS

 

Step 2: 

  • Under the column Make an Investment, select ‘Set Up Exchange Traded Fund RSP’
Invest saver step 2
Source: DBS

­­

 

Step 3:

  • Under the Purchase Funds tab, refer to the ‘Search for funds’ tab
  • Under Invest Using, select ‘Cash’
  • Search for the ETFs you would like to invest in in ‘Fund Name’. For example, you can input ‘STI’ for Nikko AM STI ETF, ‘ABF’ for ABF Singapore Bond Index Fund, or any specific name of ETFs. 
  • Click on the Search button
Invest saver step 3
Source: DBS

 

Step 4: 

  • From the search results, you will be able to see the list of available ETFs to choose from
  • Click on Info to view fund information
  • Click on Buy to purchase fund
Invest saver step 4
Source: DBS

 

Step 5:

  • Select ‘OK’ on the Important Notes pop-up to proceed with the purchase.
Invest saver step 5
Source: DBS

 

Step 6:

  • Select the Debiting Account
  • Enter Monthly Investment Amount, Tax Status and Country of Birth 
  • Verify your inputs and select ‘Next’

Do make sure you spend some time to read the Prospectus and Product Highlights Sheet to understand more about the ETF you are buying

Invest saver step 6
Source: DBS

 

Step 7: 

  • Review Terms & Conditions and click on I Agree to confirm your Invest-Saver plan set up.
Invest saver step 7
Source: DBS

 

Step 8: 

  • Review summary of purchase and click ‘Submit’ to proceed with fund purchase.
Invest saver step 8
Source: DBS

 

 Step 9: 

  • Application is submitted and you will be assigned a transaction reference number.
  • Select ‘Finish’.
Invest saver step 9
Source: DBS

 

What are the requirements for DBS Invest-Saver?

You are eligible to sign up for DBS Invest-Saver plan if you are:

  • At least 18 years of age on the date of application
  • Not a US Person (as defined in the Terms and Conditions Governing Investment in Funds)

What ETF choices do you have on DBS Invest-Saver?

You can choose from the following Singapore-listed ETFs:

1. Nikko AM Singapore STI ETF
2. ABF Singapore Bond Index Fund
3. Nikko AM SGD Investment Grade Corporate Bond ETF
4. Nikko AM-StraitsTrading Asia ex Japan REIT ETF

What are the fees for DBS Invest-Saver?

There will be a monthly sales charge of 0.82% per transaction for the Nikko AM Singapore STI ETF and Nikko AM-StraitsTrading Asia ex Japan REIT ETF.

There will be a monthly sales charge of 0.50% per transaction for the ABF Singapore Bond Index Fund and the Nikko AM SGD Investment Grade Corporate Bond ETF. 

Compare how the fees compare to other platforms offering RSP here. 

Text, letter

Description automatically generated
Source: DBS

 

What happens to the dividends that are paid out of the ETFs?

What you earn from dividends will be credited into your designated DBS/POSB account.

How will Invest-Saver work with DBS Multiplier?

DBS Multiplier allows you to earn bonus interest on your savings when you transact across multiple product categories.  

One of the categories that allows you to unlock bonus interest is Investment. The good news is that your transactions under Invest-Saver would contribute to the total monthly transaction value with DBS Multiplier. 

Your monthly contribution into Invest-Saver will be recognised for the first 12 consecutive contributions per investment fund. 

This means that if you purchase S$1,000 of the Nikko AM STI Singapore ETF in April 2023, you will be able to use this as an investment transaction for 12 consecutive months from April 2023. 

However, do note that you must purchase the ETF under the Invest-Saver plan only after opening a DBS Multiplier Account. 

You’re probably wondering what happens after 12 months in April 2024? You can consider buying another ETF to continue earning bonus interest with DBS Multiplier. 

Learn more about DBS Multiplier here.

Where can I find out more about DBS Invest-Saver?

You can find out more about DBS Invest-Saver here

To learn more about how a regular savings plan work, read our article about why it is a smart way to start investing. 

Read also

Gain financial insights in minutes

Subscribe to our free weekly newsletter for more insights to grow your wealth

chatbubble Comments

0 comments