Lastest S$ Deposit updates - Part 1

[martin]

there are 1.5% pa for 6 months and 1.88 pa for a year. Will it work if i apply for both using same saving account?

I have the same concern but already registered for the same SA. Can still sign up new esaver and register again? Is esaver instant opening?

 

[dreant]

1. why not fixed deposit but self service "CASA Cash Gift Promotion"?
fixed deposit need to queue and process at branch, it takes both bank staff's time and customer's time. self service not only save both party's time but also can reach many more customers.

2. why "Cash Gift" and not "interest"?
i don't know, only posb can tell. previous promotion got t&c that bank have right to change "Cash Gift" to someting else, that's not acceptable to me, most of goods redeemed are over priced and not useful.

1. BS. You're able to place an FD via internet banking. As this promotion requires 'online registration', it's not unreasonable to indicate an FD promotional rate that is only available via internet banking, and not in branches if they so wish to do it.

2. It's highly probable there are legal reasons, or MAS policy restrictions on FDs and 'interest'. It's far more likely they are doing it like this (not an FD, and with a 'cash gift' instead) to get around some form of restrictions/protections/taxes/etc.

 

[martin]

Also does CASA include eMSA, MSA, dbs remix esavings,etc? In other words are the e accounts also included?

 

[audiovideo]

I don't know... ie how fast will the news travel. If all auntie/uncles bank in their deposit then it will be very fast to reach first 10,000 customers quota.


btw, each customer will receive only one hongbao. If you sign up again, then your previous sign up is disqualified.

which means they will deduct the angbao $ from the interest after 1 year

 

[more3cm]

there are 1.5% pa for 6 months and 1.88 pa for a year. Will it work if i apply for both using same saving account?

Para 9 of the t&c "This Promotion is not to be used in conjunction with any other ongoing promotion offers. "

 

[Arsene_Wenger]

Para 9 of the t&c "This Promotion is not to be used in conjunction with any other ongoing promotion offers. "

Yeah, in a way. I still remb a FD promo sometimes back also restrict certain amount but they did payout even though i have exceeded that amount.

I guess it does not harm if we apply for both? worst situation is only 1.5% take effect over 1.88%?

Anyway for those who have concern about transfer $ out from posb/dbs and transfer back, please do it asap before 1st feb

The earmarking by DBS will start between 1 February 2015 and 31 March 2015, and the Fresh Funds
Deposit will be earmarked by DBS for the period ending on 31 January 2016 (“the Earmarked
Period”). The Fresh Funds Deposit will not be available for withdrawal during the Earmarked Period.

and make sure when you do a FAST back is at max of $10,000 and allow multiple times.

*Fresh Funds Deposit means funds transferred from non-DBS/POSB accounts, through cheque(s), cashier’s
order(s), demand draft(s), cash deposits, FAST credit (Fresh Funds Deposit that is more than SGD 10,000 via
FAST, more than one (1) FAST credit is allowed) and MEPS receipt. These exclude any funds from any
DBS/POSB account and funds deposited via any DBS/POSB cheque(s), DBS/POSB cashier’s order(s), or
DBS/POSB demand draft(s).

 

[hyperbole]

Can do 4 fast transactions over 2 days or not? Their tncs super confusing.

 

[Arsene_Wenger]

I have the same concern but already registered for the same SA. Can still sign up new esaver and register again? Is esaver instant opening?

You mean the conversion? no update with bank book? i doubt opening account is instant ba.

 

[Arsene_Wenger]

Can do 4 fast transactions over 2 days or not? Their tncs super confusing.

can, make sure amount is in by 1st feb in order to earn max amount of 1.88%

The earmarking by DBS will start between 1 February 2015 and 31 March 2015, and the Fresh Funds
Deposit will be earmarked by DBS for the period ending on 31 January 2016 (“the Earmarked
Period”)

however if each fast transaction has to be more 10k per transaction then do multiple times.

 

[hyperbole]

I thought the funds have to be in by 28 feb?

 

[Arsene_Wenger]

The Promotion period shall be from 23 January 2015 to 28 February 2015, both dates inclusive
(“Promotion Period”).

The earmarking by DBS will start between 1 February 2015 and 31 March 2015, and the Fresh Funds
Deposit will be earmarked by DBS for the period ending on 31 January 2016 (“the Earmarked
Period”). The Fresh Funds Deposit will not be available for withdrawal during the Earmarked Period.

if u put the fund by 28th feb then u wont earn the full 1.88%.

Customers who fulfill the criteria specified in Clause 3 to Clause 5 above (“Qualifying Customers”) will
receive a lump-sum Cash Gift of 1.88% p.a. on the Fresh Funds Deposit for 12 months calculated
based on the period from 1 February 2015 to 31 January 2016 (“Cash Gift”) and the Cash Gift will be
credited to their designated account by 31 January 2016.

 

[martin]

You mean the conversion? no update with bank book? i doubt opening account is instant ba.

I mean i use my SA for the 1.5promo already. So now to avoid contravening para 9 as outlined by more3cm above, i wanna open a new eSA for this 1.88 promo. Is opening this new eSA online instant?

Also, prior to realising this, i had already registered my SA for the 1.88 promo so if i want to use my new eSA instead, i can still just re-register again with my new eSA right?

 

[martin]

Please help confirm if i understand this earmarking correctly.

Lets say previously, i had 30k in my SA and i transferred 20k into my SA to take part in the 1.5 promo. Total i have 50k but of this i should not touch 20k. That is earmarking. I can now transfer out 30k to another bank and then transfer back this 30k for the new 1.88 promo?

 

[Arsene_Wenger]

I mean i use my SA for the 1.5promo already. So now to avoid contravening para 9 as outlined by more3cm above, i wanna open a new eSA for this 1.88 promo. Is opening this new eSA online instant?

not sure instant or not.

Also, prior to realising this, i had already registered my SA for the 1.88 promo so if i want to use my new eSA instead, i can still just re-register again with my new eSA right?

Subject to these Terms and Conditions, each Qualifying Customer will receive a maximum of one (1)
Cash Gift and/or one (1) Hong Bao (as the case may be) for the Fresh Funds Deposit. For the
avoidance of doubt, in the case where there are multiple registration submissions by one Customer
through DBS’ website during the Promotion Period, the latest entry duly completed by the Customer
as per DBS’ records will be used to qualify for this Promotion.

I guess if different SA account should be fine, i read in the edmw got one guy registered 4 accounts. ( i guess under same name ).

 

[arctician]

Subject to these Terms and Conditions, each Qualifying Customer will receive a maximum of one (1)
Cash Gift and/or one (1) Hong Bao (as the case may be) for the Fresh Funds Deposit. For the
avoidance of doubt, in the case where there are multiple registration submissions by one Customer
through DBS’ website during the Promotion Period, the latest entry duly completed by the Customer
as per DBS’ records will be used to qualify for this Promotion.

I guess if different SA account should be fine, i read in the edmw got one guy registered 4 accounts. ( i guess under same name ).

no 1 name or NRIC only entitled for 1 gift..best if u can register 4 acct under different ic in the family..i already registed n route 1k in for angpow

but funds will still go to uob highyield n bonus saver plus..locking in for 12months is not a gd deal

 

[martin]

Has anyone successfully use your Mysavings account for this kinda promo?

 

[Panerex]

Once earmarked, cannot withdraw even for emergency purpose?

 

[hyperbole]

Anyone taking up the dash promo this month?

Just realised I moved 100 out from dash account earlier this month. So to qualify for the promo I put 8000+100 can or not?

 

[magnesium1]

Once earmarked, cannot withdraw even for emergency purpose?

Can, but not immediately. You have to request them to remove the earmark first.

Sent from Apple iPhone 6 using GAGT

 

[martin]

Can, but not immediately. You have to request them to remove the earmark first.

Sent from Apple iPhone 6 using GAGT

Actually, i participated in the 1.5% promo few months back. There does not seem to have a earmarked amount. Usually if there is a earmarked amount, the account balance - the available balance is the earmarked balance. So far my account balance is also the available balance.

Also one thing after i signed up for the 1.5% and deopsited the amount, i don't seem to have received any email, or letter or sms saying i have successfully joined the promo. What about others?

Like that we are clueless until the whole duration is over which is 6 months later then will know.