I feel the safer way is to get spouse or family to open and “wash” in the two accounts.
RHB High Yields Savings account
- Thread starter sg patriot missle
- Start date
Safest way. Use different name just make sure the other name don’t run away with you money. Hahah.
Most answers on how the bonus works have already been discussed in the early thread, I found them v useful and nice and kind enough for all parties sharing their experiences.. what the newbies need to do is - to read through all posts and u will get all answers and can start to chiong !
of course, really up to individual want to follow and adopt the same way !
of course, really up to individual want to follow and adopt the same way !
EveMuffins
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only regret is never open PP in Sep. then now cannot enjoy HYSA bonus for Dec and Feb due to Nov high ADB.
best case will be RHB new promo from Jan 2023 to Mar 2023 with incremental reference month Dec 2022
Then why can’t you open it on 1 Dec to enjoy the bonus now? I got nothing to regret because I didn’t know the trick to open two accounts then. I thought could only open either.
F1ngolf2012
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Any experienced RM will answer NO based on the definition of "fresh fund" from current T&C promo.
Is it possible to do this :
1. Move funds out of HYSA to bank A on 1 Dec.
2. Open PP on 1 Dec.
3. Move funds from bank B to PP?
If there is less than $200k in PP, has anyone gotten $20 deducted?
Appreciate advixe.
Thanks in advance.
1. Move funds out of HYSA to bank A on 1 Dec.
2. Open PP on 1 Dec.
3. Move funds from bank B to PP?
If there is less than $200k in PP, has anyone gotten $20 deducted?
Appreciate advixe.
Thanks in advance.
20 dollars will only be deducted if balance fall below 200k. So if you have fixed deposit with them and etc. it will be counted. Say of instance your PP is Nil but you have a 200k fd with them ,l a 20 dollars won’t be deducted
So it's based on total value across all RHB account lah
That is my understanding. Total Relationship Balance is a combination of any individual deposits, investments and/or investment product
Anyway, for those who has less than 200K, you might want to consider sign up HYSA and not PP.
PP is meant for customer with more net worth, TRB needs to be > 200K. Probably you may not be able to fulfill the 200K TRB for every month. But at least the full month after account open, you should fulfill.
Of course this is not a requirement from RHB, it is just my personal opinion.
Because if a lot of people sign up this PP account but they can't put in 200K through out the 6 months (assuming account close after 6 months), it is likely that RHB will start enforcing the requirement of 200K, which may affect the other PP customers that can put 200K for certain months and not the full 6 months.
Anyway, if one has less than 200K, (or even just nice 200K) the difference IR you earn from PP and HYSA cannot cover the $20 per month fall below fee anyway. So no point sign up PP anyway.
PP is meant for customer with more net worth, TRB needs to be > 200K. Probably you may not be able to fulfill the 200K TRB for every month. But at least the full month after account open, you should fulfill.
Of course this is not a requirement from RHB, it is just my personal opinion.
Because if a lot of people sign up this PP account but they can't put in 200K through out the 6 months (assuming account close after 6 months), it is likely that RHB will start enforcing the requirement of 200K, which may affect the other PP customers that can put 200K for certain months and not the full 6 months.
Anyway, if one has less than 200K, (or even just nice 200K) the difference IR you earn from PP and HYSA cannot cover the $20 per month fall below fee anyway. So no point sign up PP anyway.
If you just have 200k HYSA is better off. As you don’t need to incurred the 20 dollars
anyway the site is updated. 3.5 bonus interest
https://rhbgroup.com.sg/rhb/personal/CASA-Promotion
Great news! We will be extending our bonus interest promotion on our Premier Plus Account and High Yield Savings Plus Account. From 1 Dec 2022 to 28 Feb 2023, get up to 7% on your Premier Plus account and 5.5% on your High Yield Savings Plus account! T&Cs to apply - for full details, please visit RHB Singapore Website > Promotions. Insured up to S$75k by SDIC.
Great news! We will be extending our bonus interest promotion on our Premier Plus Account and High Yield Savings Plus Account. From 1 Dec 2022 to 28 Feb 2023, get up to 7% on your Premier Plus account and 5.5% on your High Yield Savings Plus account! T&Cs to apply - for full details, please visit RHB Singapore Website > Promotions. Insured up to S$75k by SDIC.
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