HWZ Forums

Login Register FAQ Mark Forums Read

HSBC Step Up Promo

Like Tree147Likes
Reply
 
LinkBack Thread Tools
Old 06-10-2016, 11:30 PM   #31
Master Member
 
Join Date: Jan 2013
Posts: 3,055
Means if new account I just leave the money inside for 3months to get 1.5% don't need to top up? But close account have $50 charges?
if open today with 200k, u get 1.55% pa on 200k for rest of Oct, Nov & Dec (ie less than 3mths or 90 days).

if u want the welcome gift (tics to HK), need to hold 200k for 90 days ie after 31Dec, 200k earns measly prevailing rate of around 0.06%

if u close account before 6mths, yes, fee applies like other banks

many believe fall below fee can be waived when the time comes

if just looking for 1.55%, why not just stick it in eSaver 1.7% on 200k ?

Last edited by oceanicmanta; 06-10-2016 at 11:33 PM..
oceanicmanta is offline   Reply With Quote
Old 06-10-2016, 11:49 PM   #32
Member
 
Join Date: Feb 2015
Posts: 120
bonus interest for an eligible month is paid on the incremental difference between the adb of the month and the adb of the reference month.

for eg,

for december, it would be adb for december minus the adb for september.
thanks so much!! this is really helpful!
pilates is offline   Reply With Quote
Old 07-10-2016, 08:34 AM   #33
Master Member
 
Join Date: Apr 2009
Posts: 2,704
If the air tickets worth $900 I does sounds like a better deal than esaver?

if open today with 200k, u get 1.55% pa on 200k for rest of Oct, Nov & Dec (ie less than 3mths or 90 days).

if u want the welcome gift (tics to HK), need to hold 200k for 90 days ie after 31Dec, 200k earns measly prevailing rate of around 0.06%

if u close account before 6mths, yes, fee applies like other banks

many believe fall below fee can be waived when the time comes

if just looking for 1.55%, why not just stick it in eSaver 1.7% on 200k ?
neanea is offline   Reply With Quote
Old 07-10-2016, 08:59 AM   #34
Master Member
 
Join Date: Jan 2013
Posts: 3,055
If the air tickets worth $900 I does sounds like a better deal than esaver?
probably not worth that much ... usually can get $300 including tax on CX promo.

this free tics dont include taxes about $70 i think
oceanicmanta is offline   Reply With Quote
Old 07-10-2016, 09:17 AM   #35
Great Supremacy Member
 
Join Date: Sep 2004
Posts: 53,123
Hi all, how come the folks here appear to be more keen in this HSBC promotion than SCB eSaver?

Knowing the fact one needs to have 200,000 to be eligible for this HSBC, will we be better off with 1.70% p.a. at SCB eSaver? (@ https://www.sc.com/sg/save/saving-esaver.html)
saintgtril is offline   Reply With Quote
Old 07-10-2016, 09:35 AM   #36
Master Member
 
Join Date: Jan 2013
Posts: 3,055
Hi all, how come the folks here appear to be more keen in this HSBC promotion than SCB eSaver?

Knowing the fact one needs to have 200,000 to be eligible for this HSBC, will we be better off with 1.70% p.a. at SCB eSaver? (@ https://www.sc.com/sg/save/saving-esaver.html)
reasons being
- HSBC effective could be 1.96% pa
- welcome rewards - free air tics / hotel stay

previous hsbc offer was higher at around 2.21% pa + air tics ...

all comes with conditions
saintgtril likes this.
oceanicmanta is offline   Reply With Quote
Old 07-10-2016, 02:42 PM   #37
Arch-Supremacy Member
 
Join Date: Feb 2001
Posts: 23,398
Hi all, how come the folks here appear to be more keen in this HSBC promotion than SCB eSaver?

Knowing the fact one needs to have 200,000 to be eligible for this HSBC, will we be better off with 1.70% p.a. at SCB eSaver? (@ https://www.sc.com/sg/save/saving-esaver.html)
if you missed one month of hsbc cc spend, may screw up all your calculations and make it worth less than esaver which is a lot simpler, especially if you plan to deposit more than $200k
cybercom8 is offline   Reply With Quote
Old 07-10-2016, 05:53 PM   #38
Member
 
savinmax's Avatar
 
Join Date: Aug 2016
Posts: 107
In my personal opinion,
to maximise this, should register and put 100k ADB, and use 500$ debit card, so this 100k gets min 2.2%
any excess above this 100k will only get 1.55% max, so no point.
put all others in esaver for 1.7%

above applies only after whichever can and already utilise at BOC Smartsaver 60k ( 3.55% ), MB Save-up 50k ( 3% ), UOB One 50k ( 2.43% ) , OCBC 60k ( 3.25% with increment, 2.25% without ) and/or Stanchart Bonussaver 100k ( btw 2.05 to 3.05% )
savinmax is offline   Reply With Quote
Old 07-10-2016, 06:43 PM   #39
Arch-Supremacy Member
 
Join Date: Apr 2015
Posts: 12,147
In my personal opinion,
to maximise this, should register and put 100k ADB, and use 500$ debit card, so this 100k gets min 2.2%
any excess above this 100k will only get 1.55% max, so no point.
put all others in esaver for 1.7%

above applies only after whichever can and already utilise at BOC Smartsaver 60k ( 3.55% ), MB Save-up 50k ( 3% ), UOB One 50k ( 2.43% ) , OCBC 60k ( 3.25% with increment, 2.25% without ) and/or Stanchart Bonussaver 100k ( btw 2.05 to 3.05% )
How you get salary crediting for so many account?
Trazora is offline   Reply With Quote
Old 07-10-2016, 10:48 PM   #40
Senior Member
 
Join Date: Sep 2000
Posts: 1,938
Doesn't HSBC Advance Accounts also qualify? You don't need $200k for Advance.

Hi all, how come the folks here appear to be more keen in this HSBC promotion than SCB eSaver?

Knowing the fact one needs to have 200,000 to be eligible for this HSBC, will we be better off with 1.70% p.a. at SCB eSaver? (@ https://www.sc.com/sg/save/saving-esaver.html)
vince123123 is offline   Reply With Quote
Old 07-10-2016, 11:06 PM   #41
Arch-Supremacy Member
 
Join Date: Feb 2001
Posts: 23,398
In my personal opinion,
to maximise this, should register and put 100k ADB, and use 500$ debit card, so this 100k gets min 2.2%
any excess above this 100k will only get 1.55% max, so no point.
put all others in esaver for 1.7%

above applies only after whichever can and already utilise at BOC Smartsaver 60k ( 3.55% ), MB Save-up 50k ( 3% ), UOB One 50k ( 2.43% ) , OCBC 60k ( 3.25% with increment, 2.25% without ) and/or Stanchart Bonussaver 100k ( btw 2.05 to 3.05% )
thought if want the free air tickets, need to deposit $200k min.?
cybercom8 is offline   Reply With Quote
Old 07-10-2016, 11:36 PM   #42
Member
 
savinmax's Avatar
 
Join Date: Aug 2016
Posts: 107
thought if want the free air tickets, need to deposit $200k min.?
only new Premier customers qualify, and you need to keep that minimum amount there for 90days.
besides, tix not so worth ( HSBC Step Up Promo), unless u always go hk n need find accomodation etc

Doesn't HSBC Advance Accounts also qualify? You don't need $200k for Advance.
I totally agree, difference only 0.05%, so get 2.2% instead of 2.25% for 100k when card use is achieved
and only need maintain 30k, and drop below fee is only $10.
besides, if you keep zero, I think they dont charge, as indicated by oceanicmanta
savinmax is offline   Reply With Quote
Old 07-10-2016, 11:42 PM   #43
Member
 
savinmax's Avatar
 
Join Date: Aug 2016
Posts: 107
How you get salary crediting for so many account?
I think you asked before, and another forumer mentioned he did it for 3 accounts ( BOC, OCBC and MB )

possible depending on nett salary, and good assistance from payroll staff of your company. if 4k, can do 2 accounts ( BOC and MB ), if 6k, can do 3 accounts ( BOC, MB and OCBC ). need min 9.5k to do Bonussaver as well.

UOB, esaver and HSBC stepup not necessary for salary credit to get, as you would know too.

hence as indicated, whichever can be done. If your own company also easy to do. But must be legit salary of course, as CPF is payable on whatever is declared.
savinmax is offline   Reply With Quote
Old 08-10-2016, 01:29 AM   #44
Master Member
 
Join Date: Jun 2005
Posts: 3,921
adding on, alternate ocbc 360 to maximise. dbs multiplier also 2.08% eir pa. can also leave 10k inside citi maxi don't touch for backup.

average(3.55%, 3.13%, 3.25%, 3%, 2.43%, 2.08%) ~ 2.9% just near enough to combat inflation
__________________
yay
SoulEraser is offline   Reply With Quote
Old 08-10-2016, 08:07 AM   #45
Master Member
 
Join Date: Jan 2013
Posts: 3,055
looking back now, Advance would have worked better for me, with just 100k
air tics not so impt ... anyways, it is what it is.

splitting salary quite hard to get HR's nod in reality
oceanicmanta is offline   Reply With Quote
Reply
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.


Thread Tools

Posting Rules

Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On