BOC SmartSaver

[shpesft]

tier 2 is for the 1st how many people ar? is it too late for this month's offer?

Tier 1 was limited to the first 1000 people. Tier 2 doesn’t seem to have any limit according to the T&C

 

[greythorne]

Anyone here got their credit card rejected by BOC? Mine was rejected. Can still apply or appeal?

 

[boiboi123]

Anyone here got their credit card rejected by BOC? Mine was rejected. Can still apply or appeal?

Hey may I know how long the decision took?

 

[belgarathc]

Anybody knows if I top up dash with $200 using BOC family credit card, will it count into the smartsaver and family CC $700 spend?

 

[compro_1975]

Anybody knows if I top up dash with $200 using BOC family credit card, will it count into the smartsaver and family CC $700 spend?

from what i know it does not cos it is like a prepaid service... anyone can confirm?

 

[greythorne]

Hey may I know how long the decision took?

I couldn’t remember how long but I received a letter from BOC and it states that “after careful consideration we unable to accede to your request” but letter was signed of by credit bureau. So I suppose the CC application was unsuccessful.

 

[LexusIS]

Ah I received a decline letter but didn’t apply for any card. Lol

 

[greythorne]

Ah I received a decline letter but didn’t apply for any card. Lol

Really? I believe the letter I received was for my CC application. Since you didn’t apply why you are receiving it?

 

[LexusIS]

Really? I believe the letter I received was for my CC application. Since you didn’t apply why you are receiving it?

Not sure if it is the supplementary card that I applied under by Wife’s maincard. The application took more than 1 month and they couldn’t locate it, so we went down to re-apply.

Applying supp card also got decline letter Har lol

 

[boiboi123]

For any amount above 60k, is the interest only 0.60%? Or is it 0.60% extra?

 

[shpesft]

For any amount above 60k, is the interest only 0.60%? Or is it 0.60% extra?

0.6% extra on top of base interest

 

[boiboi123]

0.6% extra on top of base interest

so max is 1.6% (card) + 1.2% (salary) + 0.35% (bill payment) + 0.60% (>60K) = 3.75% on every dollar above 60K, and 3.15% for below 60K?

Just read through a few pages of the thread, and realized I misunderstood your point - so it's actually 0.4% (base) + 0.6% = 1% for anything above 60k?

 

[shpesft]

so max is 1.6% (card) + 1.2% (salary) + 0.35% (bill payment) + 0.60% (>60K) = 3.75% on every dollar above 60K, and 3.15% for below 60K?

Just read through a few pages of the thread, and realized I misunderstood your point - so it's actually 0.4% (base) + 0.6% = 1% for anything above 60k?

Base interest is 0.4% for deposits between S$50,000-S$100,000.

The first S$60,000 can earn 3.55%:
- Base 0.4%
- Card 1.6%
- Salary 1.2%
- Bill payment 0.35%

Sum above S$60,000 will earn 1.0%
- Base 0.4%
- Extra 0.6%

Of course if your deposit is more than S$100k, the base interest increases to 0.475%

 

[boiboi123]

Base interest is 0.4% for deposits between S$50,000-S$100,000.

The first S$60,000 can earn 3.55%:
- Base 0.4%
- Card 1.6%
- Salary 1.2%
- Bill payment 0.35%

Sum above S$60,000 will earn 1.0%
- Base 0.4%
- Extra 0.6%

Of course if your deposit is more than S$100k, the base interest increases to 0.475%

Got it, thank you!

 

[vegavega25]

Base interest is 0.4% for deposits between S$50,000-S$100,000.

The first S$60,000 can earn 3.55%:
- Base 0.4%
- Card 1.6%
- Salary 1.2%
- Bill payment 0.35%

If it is possible to park exactly S$60K into this account and one can maximize the interest at 3.55%, the annual interest is S$2130. But if the BOC Family Card annual fee is S$203 and the interest goes down to S$1927, the interest rate on the account is still a respectable 3.2%.

Or is that too little? Are there other bank accounts with similar conditions and higher interest rates?

I am using the bank account interest to think about the credit card AF instead of credit card cash rebates, because the credit card rebate can vary every month depending on which categories one is able to maximize / falls short on / using how much general category spending to reach the S$1500 monthly spend.

 

[VacheronLim]

If it is possible to park exactly S$60K into this account and one can maximize the interest at 3.55%, the annual interest is S$2130. But if the BOC Family Card annual fee is S$203 and the interest goes down to S$1927, the interest rate on the account is still a respectable 3.2%.

Or is that too little? Are there other bank accounts with similar conditions and higher interest rates?

I am using the bank account interest to think about the credit card AF instead of credit card cash rebates, because the credit card rebate can vary every month depending on which categories one is able to maximize / falls short on / using how much general category spending to reach the S$1500 monthly spend.

technically that 3.2% is fairly potent, as the next challenger is maybank saveup at close to 3%

if the card user can spend/plan the spending habits to maximize cc rebates, that yield percentage will go up slightly so it's generally quite respectable if you look at the product as a whole

 

[omni99]

I am currently with DBS, and my salary is associated with the following code and reference:

Code: GR
Reference No: "PAY XXXXXXXXX PTE. LTD SALARY"

Would this entitle me to the 1.2% interest? It doesn't say "SALA" by itself, but SALARY is in there.

 

[kashanai]

Wrong thread bah

I am currently with DBS, and my salary is associated with the following code and reference:

Code: GR
Reference No: "PAY XXXXXXXXX PTE. LTD SALARY"

Would this entitle me to the 1.2% interest? It doesn't say "SALA" by itself, but SALARY is in there.

 

[boiboi123]

For BOC what are the requirements?

I am currently with DBS, and my salary is associated with the following code and reference:

Code: GR
Reference No: "PAY XXXXXXXXX PTE. LTD SALARY"

Would this entitle me to the 1.2% interest? It doesn't say "SALA" by itself, but SALARY is in there.

 

[linuskltan]

Last month I was short of 1 x bill payment to be eligible for the bill payment bonus interest 0.35% p.a. Is there any chance for a successful appeal to BOC for the bill payment bonus interest to be credited on an exception basis?