DBS Interest Free Road Tax Installment

[Ixat]

Hullo guys,

 

Anyone using the DBS Interest Free Road Tax Installment for their road tax?

 

Any catch to it other than taking up your credit limit and imposing a 0.2% service charge on monthly repayment?

 

The 0.2% service charge works out to be arnd 14 cents for my 1.6L road tax. I'll put my savings for road tax into Maybank for 1.68% pa and earn around $14

 

Am I on the right track?

[Apollo]

ur maths failed.

 

if u dun buy car, and put the entire saving into Euro deposit, higher interest rate, u probably earn $14 + a few zero behind.

 

drive car dun hassle over a few cts and dollars. got better things to worry abt.

[Ixat]

Point taken Apollo :)

Edited December 5, 2007 by Ixat

[Ahbengdriver]

How much can u really save?

[Ixat]

Nothing significant really....$14 max?

 

But i read newspaper always say "Good debt is good for you"

 

Better abolish the thought....haha

Edited December 5, 2007 by Ixat

[Falc]

I think u have to maintain the credit card through the period?

 

So just in case it's up for renewal halfway, and they may not give free renewal, I will choose the number of repayment months to coincide with the card anniversary so as not to be held ransom by it.