Update 26/5/2015: Called up DBS/POSB and spoke to someone there and got verbal confirmation that dividends CANNOT be reinvested. This post is therefore not valid.
Thanks to a reader for commenting and pointing out this new development in the POSB Invest-Saver Product!
This is the screenshot that he sent me of what he saw inside his ibanking page.
Well, now that changes up some things a little, doesn't it?
I have written about the POSB Invest-Saver product a few times:
1. Comparing the RSPs of POSB, Phillip and OCBC
2. POSB's Invest-Saver inclusion of ABF Bond Fund (with sample investment plan)
3. Feedback on POSB's Invest-Saver to include dividend re-investment
Now, with the POSB Invest Saver being able to re-invest dividends, I think that they are the clear winner as the simplest and most useful tool for the average Joe that understands LOOOOONG term investing and wants a super hassle free product.
Personally, I have not used POSB Invest Saver before. Can anyone who is currently in the plan confirm or dispute the information that Fitri shared? Thank you!
What do you think? Would you recommend POSB Invest Saver to family and friends? Yay or nay?