Cheapest Regular Savings Plan in Singapore
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Which Regular Shares Savings (RSS) Plan Is The Cheapest? DBS vs OCBC vs PhillipCapital vs Maybank Kim Eng

2 min read

Greatest Misconception Amongst Singaporeans

Here’s one of the greatest misconception amongst Singaporeans.

” I need to save up a huge amount to be able to start investing.”

This is true in the past when one requires quite a substantial amount of capital before making his or her first investment. However, with the Regular Shares Savings (RSS) Plan, that argument is no longer valid.

With as little as $100 month, average Singaporeans with little to no knowledge of investing can begin their investment journey.


TL; DR: Which Is The Best Regular Shares Savings Plan In Singapore?

Cheapest Regular Savings Plan in Singapore

  • For investments lesser than $500, DBS Invest Saver and Maybank Kim Eng Monthly Investment Plan will be what you should look at
  • For amount $500 to a thousand, OCBC Blue Chip Investment Plan will be the way to go
  • If you are going for 2 counters, Phillip’s Share Builder Plan will be cheaper
  • Any investment above $1,000 and less than $1,700 will be cheapest with OCBC unless again, you are looking at multiple counters
  • SGX Academy has recently launched a campaign page on Regular Shares Savings (RSS) Plan, and an Investment Fair on 6 April 2019 for interested investors to learn more.

What Is A Regular Shares Savings Plan?

A Regular Shares Savings (RSS) Plan allows one to invest a fixed amount into a variety of Singapore blue-chip stocks or an Exchange Traded Fund (ETF) that tracks the Straits Times Index (STI).

By allowing a constant monthly investment, the RSS Plan allows an investor to dollar-cost average their investment. When prices of the stocks are low, the investor will automatically be purchasing more with his fixed amount of investment. Conversely, lesser, when stock prices are high.

The RSS Plan is designed for long-term investors and arguably, the best solution for average Singaporeans who do not yet have the knowledge, discipline, and patience to monitor the stock market closely.

It is also one of the recommended options for investors who are new to investing.

Where Can You Set-Up A Regular Shares Savings Plan?

The financial institutes that provide RSS Plans are:

  • DBS Bank
  • Maybank Kim Eng
  • OCBC Bank
  • PhillipCapital
Bank/ Financial InstituteName of Regular Savings PlanInvestment Products Available on RSP
DBS BankInvest SaverNikko AM STI ETF

ABF Singapore Bond Index Fund
Maybank Kim EngMonthly Investment PlanNikko AM STI ETF
SPDR STI ETF
Singtel
CapitaLand

+50 other Singapore counters
OCBC BankBlue Chip Investment PlanNikko AM STI ETF
Olam International
Comfort DelGro
Wilmar International

+ 14 other counters
Phillip CapitalShare Builders PlanSPDR STI ETF
CapitaLand Mall Trust
Singapore Airlines (SIA)
ST Engineering

+35 other counters

What Are The Fees And Charges For A Regular Shares Savings Plan?

Each RSS Plan incurs different fees and charges for the investor. The fees and charges incurred can come in the form of a percentage of the amount invested or a fixed amount based on investment sum.

Here’s a comparison of the fees and charges for each institution’s Regular Shares Savings Plan:

Bank/ Financial InstituteName of Regular Savings PlanFees and charges
DBS BankInvest Saver1% for Nikko AM STI ETF
or
0.5% for ABF Singapore Bond Index Fund
Maybank Kim EngMonthly Investment PlanInvestment amount below $1,000: 1% (minimum $1)

Investment amount above $1,000: 0.18% (minimum $10)
OCBC BankBlue Chip Investment Plan0.30% of the total investment amount
or
$5 per counter, whichever is higher
Phillip CapitalShare Builders PlanInvestment amount below $1,000:
$6 (1-2 counters)
$10 (Above 2 counters)

Investment amount above $1,000:
0.2% or $10 whichever is higher

With all this in mind, let’s compare the cost depending on the different amount you wish to invest monthly.

Which Regular Shares Savings Plan Is The Cheapest Based On Investment Amount?

To help Singaporeans make a better decision when choosing the cheapest Regular Savings Plan for the amount they plan to invest in, we compare these plans to find out who is the cheapest.

Bank/ Financial InstituteName of Regular Savings PlanFees and charges
DBS/POSB BankInvest-SaverLess than $500: $5 or lesser (STI ETF)
$500 - $1,000: $5 - $10
Above $1,000: More than $10
MaybankMonthly Investment PlanLess than $500: $5 or lesser
$500 - $1,000: $5 - $10
Above $1,000: More than $10
OCBC BankBlue Chip Investment Plan
Less than $500: $5
$500 - $1,000: $5
Above $1,000: $5 (unless amount more than $1,700)
Philip CapitalShare Builder PlanLess than $500: $6
$500 - $1,000: $6 - $10 (Cheaper for 2 counters)
Above $1,000: More than $10 (Allows multiple counters)

Which Regular Shares Savings Plan Has A Joint Account Feature?

The RSS plans offered by Maybank Kim Eng, OCBC, and PhillipCapital all come with a joint account feature. Only DBS’s RSS plan does not have this feature.

Promotions For Regular Shares Savings Plan Offered By DBS, Maybank Kim Eng, OCBC, & PhilipCapital

Here are the various Regular Shares Savings Plan offered by the respective service providers:

DBS

Invest Saver
Maybank Kim Eng

Monthly Investment Plan
OCBC Bank

Blue Chip Investment Plan
Phillip Capital

Share Builders Plan
Enjoy 100% rebate on sales charges with DBS Invest SaverEnjoy up to $120 worth of commission rebates and a $20 shopping voucher when you trade SGX-listed stocksEnjoy $20 cashback when you invest in 1 or more counters for 3 consecutive months.Receive up to $100 worth of Bonus when you sign up for Share Builders Plan

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