Lastest S$ Deposit updates - Part 3

[ericcsn]

First para, last sentence using their own 50k example writes 'The amount of Fresh Funds deposit must also result in a corresponding increase of at least S$50,000 when compared against the total balances of all other OCBC current and/or savings accounts as of 30 days prior to the date of deposit.'

Assuming i put in 100k fresh funds into a eligible account but i had also used this account to pay for insurance/bills. etc so i would fail the criteria of corresponding increase of at least 100k against total balances since I also used prior existing funds to pay my bills paid within 30 days?

called the cso but didn't get clarity and they mention we have to manually calculated ourselves prior.

As requested by others, please go to this new thread to post on matters relating to ocbc 88 days for details (otherwise it will derail and clutter this long running general thread about latest deposits)

https://forums.hardwarezone.com.sg/threads/ocbc-statement-savings-account.7179972/

 

[sglandscape]

As requested by others, please go to this new thread to post on matters relating to ocbc 88 days for details (otherwise it will derail and clutter this long running general thread about latest deposits)

https://forums.hardwarezone.com.sg/threads/ocbc-statement-savings-account.7179972/

Actually could keep to this thread too since it is related to deposit rates, just harder for people to find the info next time.

 

[dicxz80]

Are you new to banks like Stanchart or HSBC (or your last account with them closed for more than 12 months; credit card holders without banking with them will qualify). They have excellent welcome rewards for priority and premier customers.

HYSA - Stanchart Bonus$aver, DBS Multiplier, OCBC 360 even UOB 1.

HSBC EGA.

So far they havent charged me for the OCBC Statement Savings accounts (I have single and joint) and which have been kept at $0 for quite some time.

RHB
https://rhbgroup.com.sg/rhb/personal/promotions/fixed-deposit-campaign

for 3 and 6 months tenure
1.45% for Personal Banking
1.55% for Premier Banking

 

[yiwei]

What's DBS CASA promotion rate this month?

1.38% until 19th Jan

 

[Sausage]

for those with 3 million returning from the previous ocbc 88 statement promo, is there any other good deposit account to park in now? tbill rate still not good


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[pratik28]

Mari Invest Gold is live , Uob and Ocbc have competition already haha

 

[Sausage]

if you have a spare 500k now and want a savings account without all the criteria of depositing salary or buying their financial products etc, is the best option HSBC ega at 1.6%?


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[pratik28]

Now ocbc 88 day need diff account with 1k bal to maintain as not all a/c qualify ,
than sc la , uob la , hsbc la to name a few ,
new promo new a/c need to maintain bal 1k , 2k , even 3k , haha frustrating. Sometimes wonder to rather just keep getting Tbills or simple gxs boost pocket , rhb fd or sif gosaver

 

[Sausage]

seems like most of the savings accounts have all the salary crediting and credit card spending requirements now to get the extra interest. I just want a simple account without all the requirements that gives the highest interest .

is it the cimb fastsaver at 1.58%, if you have a spare $500k to deposit?

HSBC EGA looked good at first but they have all those requirements for wealth holdings, then we have scb esaver which seems to have dropped to 1.25% if you don't have wealth holdings. uob one has the salary crediting and cc spend requirements so it's out for me.



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[Devilsire]

seems like most of the savings accounts have all the salary crediting and credit card spending requirements now to get the extra interest. I just want a simple account without all the requirements that gives the highest interest .

is it the cimb fastsaver at 1.58%, if you have a spare $500k to deposit?

HSBC EGA looked good at first but they have all those requirements for wealth holdings, then we have scb esaver which seems to have dropped to 1.25% if you don't have wealth holdings. uob one has the salary crediting and cc spend requirements so it's out for me.



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then why dont u fulfil the wealthholding, its just a simple few minutes work and at insignificant minimal cost

 

[Sausage]

my HSBC account has been dormant for a few years so I'm out of touch with their wealth holding offers. any recommendations?ideally I just want a simple Account for now without all these requirements,while I hope tbill rates get better as the year goes by.


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[vsvs24]

is it the cimb fastsaver at 1.58%, if you have a spare $500k to deposit?

HSBC EGA looked good at first but they have all those requirements for wealth holdings, then we have scb esaver which seems to have dropped to 1.25% if you don't have wealth holdings. uob one has the salary crediting and cc spend requirements so it's out for me.



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Hit max for SSB ?

 

[Sausage]

yes ssb hit max already


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[PhantomOpera]

At first, i was attracted to the cimb new to preferred promo, cuz 1.88% + ipad/$800 is indeed a good deal in today’s context.

but further checks revealed tt the 1.88% is only given for first 3mths and one needs to hold onto the $250k for almost 10months before the ipad/$800 rewards will be given. Which means, from month 4 to 10, the $250k will only be earning an average prevailing interest rate of less than 0.7%. not really worth the placement in my opinion….

What if I am only interested to put my funds for 3 months to earn 1.88%, and no need new ipad or $800? Does it work for CIMB?

 

[~sabaisabai~]

my HSBC account has been dormant for a few years so I'm out of touch with their wealth holding offers. any recommendations?ideally I just want a simple Account for now without all these requirements,while I hope tbill rates get better as the year goes by.


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How about maybank issavy? 1.4% for 200k above, think the promo runs till end feb

 

[sibeiTrolled]

is it the cimb fastsaver at 1.58%, if you have a spare $500k to deposit?

No.
if you throw all 500k in CIMB FS, your EIR is only 0.58% due to the fact that above 75K only netts you 0.5% IR

Even for starsaver, your EIR is only 1.214%

 

[Sausage]

No.
if you throw all 500k in CIMB FS, your EIR is only 0.58% due to the fact that above 75K only netts you 0.5% IR

Even for starsaver, your EIR is only 1.214%

I see, thank you. Any recommendations for the highest EIR without salary crediting, cc spend then? Is it the maybank 1.4% isavvy one?

 

[Honda_typeR]

No.
if you throw all 500k in CIMB FS, your EIR is only 0.58% due to the fact that above 75K only netts you 0.5% IR

Even for starsaver, your EIR is only 1.214%

Any idea For 500K to 1M where is the best place to park funds for high interest?

 

[ericcsn]

Any idea For 500K to 1M where is the best place to park funds for high interest?

New to banking at Stanchart or HSBC? Go priority or premium banking with them for their generous welcome rewards.

 

[sibeiTrolled]

recommendations

Any idea For 500K to 1M

Sorry, not been keeping up with these news anymore.

But likely only the same few banks with their ongoing promotions

Scb esaver
Maybank isavvy
HSBC ega

Not sure if there is a cap on gxs or if you even "trust" it...