finally managed to dig this post up
Anyway, i was offered 1.88% (6 months) fund transfer with no processing fee.
Say if i take up this offer and i requested to the amount of $3000. The total amount payable within 6 months is $3000+$112.8=$3112.80?
Monthly payment = $3112.80/6=$518.80?
This is what the CS told me on the phone, just want to confirm.
Thanks.
Called to test water and was offered 1% admin charge for 6 mths transfer with SCB.
yours is 1.88% pa but offer to you for 6months or 1.88% for 6 months? edit: juz calculated,so yours is 3.76% pa offer to you for 6months and have to pay in instalment way. Not a good deal.
Anyway i juz took up 5k citibank at 2.99% pa offer for 6 months with no processing fee. And they nv draft up instalment monthly repayment plan for me which means more flexibility for me.
All i need is to make sure i pay the min payment of 3% of my balance everytime the statement comes. And of course interests charged to me is on reducing basis.
According to the guy,max interests i would incur would be (2.99/100)*5000=149.5 then 149.5/2=74.75 for six months. $74.75 is the max interests that i could incur but of course could be lesser if i choose to pay up full earlier.
finally managed to dig this post up
Anyway, i was offered 1.88% (6 months) fund transfer with no processing fee.
Say if i take up this offer and i requested to the amount of $3000. The total amount payable within 6 months is $3000+$112.8=$3112.80?
Monthly payment = $3112.80/6=$518.80?
This is what the CS told me on the phone, just want to confirm.
Thanks.
Interest is 3000x1.88%x.0.5= around 30 only. Provided you repay the minimum sum monthly. If you can pay back 1000 the interest will be much lesser.If it's 1.88% pa for 6months, your interests payable is $112.8? According to my calculation,that's not right.
I don't know,me new in this as well. Hope some old birds can shed some light on this.
I think the best transfer rate right now (Xmas season) is from SCB.
0%p.a for 6mths with ONLY 1% processing fee.
Example: Fund transfer $5,000, processing fee $50.
I don't think there's any other bank that can offer anything better than this, at least for this xmas.
I took up the offer, so I can vouch on the above rates. No other fees involved.
Those 1.88% p.a. funds transfers are better.
1% processing fee for 6 mths is >2%p.a. interest charged upfront (i.e. not worth your while in case you want to repay early)
got 1.88% effective interest transfer for 12mths one meh?
Okay, but HSBC ah?
No HSBC card
I think the best transfer rate right now (Xmas season) is from SCB.
0%p.a for 6mths with ONLY 1% processing fee.
Example: Fund transfer $5,000, processing fee $50.
I don't think there's any other bank that can offer anything better than this, at least for this xmas.
I took up the offer, so I can vouch on the above rates. No other fees involved.
actually this is worst than 1.88%pa for 6 months, do the maths.
1% pf will be 2%p.a in interest, higher than 1.88%p.a
yeah, I didn't know that there were EIR 1.88% p.a. deals. And I'm not too interested in HSBC
Their call centre like overseas? Tried talking to them before. Always got "lag time" one. Damn irritating.
actually this is worst than 1.88%pa for 6 months, do the maths.
1% pf will be 2%p.a in interest, higher than 1.88%p.a
Ok, can i assume that the HSBC 1.88% fund transfer is based on reducing balance?
As i need a liquidlity of $2K for only 2 months. Say for the first month i pay the minimum sum and clear everything by the 2nd month, the interest will be even lower?
That's right. HSBC is offering such rates right now, 1.88% EIR.
For the lag time, it's due to the warm transferring of calls. Easily solved by requesting a fresh call to you guys.
2 wrong pieces of information. One, HSBC/UOB are/have always been offering the best funds transfer balance rates, unless you are talking about SCB's first $3k w/o any fees or the previous ANZ's offer. Second, Citibank/HSBC/UOB/DBS' call centres for FT at least, are based locally.