What is a Regular Savings Plan (RSP)?
- A regular savings plan (RSP) basically comprises of regular investments into a unit trust fund
- RSP is one of the most sensible & effective ways to save for the mid to long term
- RSP can simply be effected by instructing DBS to deduct an amount monthly
You can now set up a regular savings account via iBanking. You can also Update, View and Terminate your RSP.
Who is eligible to set up an RSP?
- You must be at least 21 years old and you should have existing unit trust funds with DBS. If you do not have unit trust funds, you need to purchase them first before you can set up a RSP for these funds. Before setting up any RSP, please ensure that you have read the fund prospectus and terms and conditions. This information is available online.
- Any customer who has existing holdings in a Unit Trust fund will be allowed to choose the fund to set up an RSP.
How do I update my RSP?
If you already have an existing RSP, you can choose to amend your details by adjusting the "Monthly Amount to Invest".
How do I setup my RSP?
- Under Investment Services on the left navigation column, click on Setup/Update Regular Savings Plan.
- Click on the radio button to select the fund you wish to set up a Regular Savings Plan and click on the "Submit button".
- On the new page, enter the amount you wish to invest, your contact number and select your debiting account. Please read the Prospectus, Terms and Conditions and the Rights to Cancel document before you continue.
- Once you have filled up all the details, click on the "Submit" button.
- On the new page, check the details of this transaction. If the details are correct, click on the "Confirm" button.
- Your transaction is now complete.
Can I terminate my RSP?
Yes. You can select the terminate field to terminate your RS.
How long will it take for the GIRO to be effective?
- The Giro will take effect immediately when the RSP is activated (note: not when it is being set up) We shall activate your RSP in the relevant Fund based on the following timelines:
- if your application is submitted before 7.45pm on a business day - before midnight on the same business day
- if your application is submitted after 7.45pm on a business day or at any time on a non-business day - before midnight on the next business day
- * business day excludes Sat, Sun and any public holiday
Is there a minimum/maximum amount to invest monthly?
Yes. There is a minimum investment amount of $100 monthly.