BOC SmartSaver

[RedsYWNA]

Is this real? I didnt see anything in my email or on BOC website

Edit: Looks like it's real, saw the document posted in BOC Singapore's Wechat channel

 

[iadpotato]

wah tio nerf liao... sian half..

ok la, instead of 4.6% pa, now 3.25% assuming base that if interest still remains at 0.4%. Still not too shabby.

so as of now, multiplier still better 4.1% and no announcement of nerf (yet)..

 

[chiokcc]

Cannot find the new T&Cs at BOC's website .....

 

[shichuanhua]

Aw, my account just opened.

 

[chopra]

wah tio nerf liao... sian half..

ok la, instead of 4.6% pa, now 3.25% assuming base that if interest still remains at 0.4%. Still not too shabby.

so as of now, multiplier still better 4.1% and no announcement of nerf (yet)..

How to get 3.25?

 

[bobby6679]

It is published in their official wechat account

https://mp.weixin.qq.com/s/USEY9-JNmbw87XdvqxMT1g

 

[shpesft]

They posted on their FB page too

 

[linuskltan]

wah tio nerf liao... sian half..

ok la, instead of 4.6% pa, now 3.25% assuming base that if interest still remains at 0.4%. Still not too shabby.

so as of now, multiplier still better 4.1% and no announcement of nerf (yet)..

Have to spend monthly $2.5k instead of $1.5k to get the 3.25% p.a. interest...

 

[iadpotato]

How to get 3.25?

simple math.
base interest for 20k or more inside - 0.4 (assuming no change from last time)
card spend - 1.25
salary credit - 1.50
payment - 0.1
total - 3.25

Have to spend monthly $2.5k instead of $1.5k to get the 3.25% p.a. interest...

easy peasy la, if u read the tncs carefully, not everything is excluded. The big Q is how can one take out that spend as cash and use it to generate more interest.

 

[sgbird]

The new T&C is below, published in Wechat official channel only:

I cannot post the photo here dont know why.

But with fullfilled same criteria as before, given that base interest 0.4% unchanged, we can at most get 2.75%. Jialat

 

[chiokcc]

It is published in their official wechat account

https://mp.weixin.qq.com/s/USEY9-JNmbw87XdvqxMT1g

Wow, in Mandarin .....

 

[chiokcc]

 

[chiokcc]

Card spend
old - $1500: 0.80%pa of $100k = ~$66.70
old - $500: 0.50%pa of $100k = ~$41.70
new - $2500: 1.25%pa of $100k = ~$104.20
new - $750: 0.75%pa of $100k = ~$62.50

Bills payment
old - 0.90%pa of $100k = ~$75.00
new - 0.10%pa of $100k = ~$8.30

 

[RedsYWNA]

Btw guys, just saw the revised rates being pasted on BOC branch window, so the rate adjustments are certainly going to be in force come 1 May.

 

[Shawny88]

2.75% is still not the worse i guess…

 

[FlyGuardX]

bye guys .. i am leaving smartsaver for ocbc

 

[sgbird]

bye guys .. i am leaving smartsaver for ocbc

OCBC better? Their criteria too difficult to acheive

 

[FlyGuardX]

OCBC better? Their criteria too difficult to acheive

i cant spend 2500 on their card and still get lower interest than ocbc 360

 

[iadpotato]

personally, i think the $500 increment monthly for OCBC is kinda silly. In the long run going to be a big sum getting as good as almost no interest.

 

[chiokcc]

Card spend
old - $1500: 0.80%pa of $100k = ~$66.70
old - $500: 0.50%pa of $100k = ~$41.70
new - $2500: 1.25%pa of $100k = ~$104.20
new - $750: 0.75%pa of $100k = ~$62.50

Bills payment
old - 0.90%pa of $100k = ~$75.00
new - 0.10%pa of $100k = ~$8.30

For the new credit card spend, $750 -> $2500 is 3.33x, but bonus gained is only 1.67x ....

Even if you compare the old $500 vs new $750 spend, or old $1500 vs new $750 spend, for new T&Cs, $750 spend is the most optimal ....

If really need, aim for the $750 spend tier ....