Bonus$aver - the only account that gives you the highest interest rate in town from SCB

[yesman1234]

New product for those cash rich ones

Savings and Credit Card bundle - Bonus$aver

Introducing Bonus$aver – the only account that gives you the highest interest rate of 1.88%(currently) in town. All you need to do is charge a minimum of S$500 to your linked Bonus$aver credit and/or debit card(s) each month.

In addition: Get $100 Cashback by depositing SGD50,000 into the acct.

TnCs
For a limited period only, S$100 CashBack promotion is available for new Bonus$aver accounts with linked Bonus$aver World MasterCard credit cards. To qualify for this Promotion, you must deposit S$50,000 into the Bonus$aver account upon account opening during the Promotion period. S$100 CashBack will be credited to your linked Bonus$aver World MasterCard credit card within 1 month from the deposit of S$50,000 into your Bonus$aver account or principal card approval (whichever is the later).

Each customer is limited to one (1) $100 CashBack. Bonus interest is not applicable on any amounts in the Bonus$aver account exceeding S$25,000. We may at any time withdraw this Promotion without prior notice or reason.

Standard Chartered Bank Singapore

 

[epigram]

That's quite a good deal. better than star saver.

 

[edmwwmde]

How does this compare with Xtrasaver account? Which one is better?

 

[naruto13]

spend $500 every mth to be eligible for 1.88% for ur saving for the 1st 25k.
$500 * 12 = $6000
so let say at 25k * 1.88% = $470

xtrasaver 2% cashback of $470 is $23500 worth of spending.

depend individual fall under which category or maximise both acc.

 

[skymusic72]

First thought to this product last week at SCB branch, is wow! Cos 1.88% is good for saving plan.

As CC rebates is no good.

Compared with UOB 1 card, it's offering $30 per qtr for $300 per mth spending. Is as good as slightly over 3%.

 

[naruto13]

First thought to this product last week at SCB branch, is wow! Cos 1.88% is good for saving plan.

As CC rebates is no good.

Compared with UOB 1 card, it's offering $30 per qtr for $300 per mth spending. Is as good as slightly over 3%.

ppl who get lock in to this acc is for the 1.88% for saving for 25k. but they need to spend 6k a year to enjoy the saving %.

very subjective to individual needs and monetary benefits.

 

[blade007]

so we could just dump $50k and remove the money once the cash back is in? lol

 

[goenitz33]

ppl who get lock in to this acc is for the 1.88% for saving for 25k. but they need to spend 6k a year to enjoy the saving %.

very subjective to individual needs and monetary benefits.

best would be those with compulsory spending of 6k per year

 

[naruto13]

so we could just dump $50k and remove the money once the cash back is in? lol

they didnt really state.
most bank would state fresh amount.
duno what if $ is inside scb already.

need to visit branch soon haha.

 

[naruto13]

best would be those with compulsory spending of 6k per year

somemore spending got no rebate, spending help u to enjoy the 1.88%. lol.

 

[goenitz33]

somemore spending got no rebate, spending help u to enjoy the 1.88%. lol.

All you need to do is charge a minimum of S$500 to your linked Bonus$aver credit and/or debit card(s) each month.

this line will make it problematic.

You will really have to spend adhoc basis since some compulsory spending are usually bulk and 1 time in a year.

wondering does the above can be used to pay for housing installments?

since bank loans are paid using cash.

if it is setup automatic bill payment and pay every mth.

Car loan comes to mind too ^^

 

[naruto13]

if its debit card, mean its same as extrasaver liao.

if car loan can be paid by debit card using mastercard function, credit card can too.
basically its just mastercard/visa acceptability.
debit card itself is only a title, it used mastercard/visa.

basically would be the 16digit number used for the transaction to be eligible.

 

[goenitz33]

if its debit card, mean its same as extrasaver liao.

if car loan can be paid by debit card using mastercard function, credit card can too.
basically its just mastercard/visa acceptability.
debit card itself is only a title, it used mastercard/visa.

basically would be the 16digit number used for the transaction to be eligible.

Yur must check it out le.

if eligible then quite shiok le.

my household have like nearly 10k in compulsory payments each month.

 

[naruto13]

well i am not interested in this account for the 1.88% anyway.

anyway back to the debit card, confirm cannot.
anything that can be paid by credit card would be payable in debit card too. cos they are the same except the payment method process by the card issuer bank.

so what there to check out when this is a hard fact?

i think on another thread, one forumer wan to pay car loan through credit card too.

as for ur 10k depend what is the breakdown, should be easily identify credit card payable or not.

loan seem to be out of the topic unless through axs nets which this account is not eligible either.

 

[goenitz33]

well i am not interested in this account for the 1.88% anyway.

anyway back to the debit card, confirm cannot.
anything that can be paid by credit card would be payable in debit card too. cos they are the same except the payment method process by the card issuer bank.

so what there to check out when this is a hard fact?

i think on another thread, one forumer wan to pay car loan through credit card too.

as for ur 10k depend what is the breakdown, should be easily identify credit card payable or not.

loan seem to be out of the topic unless through axs nets which this account is not eligible either.

Housing Loan (3 places with OCBC) + Car Loan (4 Cars)

just this two only

i need to check it out also with the banks

currently we are using direct debit from our Savings Account

my Sis is non finance savy and not a risk taker so 1.88% savings interest would be good for her.

 

[naruto13]

if can everyone been paying loan through cc/debit card like xtrasaver.

not feasible but u can call ur house loan and car loan company up.

 

[goenitz33]

if can everyone been paying loan through cc/debit card like xtrasaver.

not feasible but u can call ur house loan and car loan company up.

Yur should check cause miss out alot if can

imagine 10k milespoint per month without travelling is good

 

[blade007]

they didnt really state.
most bank would state fresh amount.
duno what if $ is inside scb already.

need to visit branch soon haha.

hahaha this i agree.. if nv state, the just transfer amount over, then transfer back once done. HAHAHA

 

[naruto13]

hahaha this i agree.. if nv state, the just transfer amount over, then transfer back once done. HAHAHA

put there till the $100 is in =P

 

[winguy]

err.. opportunity cost of 25k?