8% interest by scb

[mewmew]

gotch shadow boh?

https://www.channelnewsasia.com/bus...est-rate-bonusaver-account-record-805-5164281

 

[Woof24]

jiak sai rah this bank

 

[0nePunchm@n]

only good for 1k spenders

 

[DulanMax]

Chiong ah!!

 

[buttbERry]

What are the terms and conditions

 

[enimen]

Need to invest with them leh. Later their investment lugi big time u lose more than your interest earned

 

[weiess]

min

What are the terms and conditions

briefly read thru..

min 100k
salary credit 3k
card spend 1k
insurance premium 12k
investment 20k

 

[AndroidComa]

newspapers really damn stupid
banks trying to make things simpler, and try to use pictures and illustrations to make things easy to understand only for newspapers to undo everything and go ALL WORDS

 

[buttbERry]

min

briefly read thru..

min 100k
salary credit 3k
card spend 1k
insurance 2k
investment 20k

Wa still buy their insurance?

 

[weiess]

Wa still buy their insurance?

Insure

Purchase an Eligible Insurance Policy with a minimal annual premium of S$12,000 to earn additional 2.50% p.a. bonus interest for 6 months on the deposit balance in your Bonus$aver Account:
Criteria
Purchase an Eligible Insurance Policy (defined below)
Minimum Premium
S$12,000
S$12,000 annual premium for an Eligible Insurance Policy
Bonus Interest Rate on the first S$100,000
2.50% p.a
Bonus Interest Crediting Month
For purchase of Eligible Insurance Policy: One month after purchase of policy
Bonus Interest Payment period
Bonus Interest will be paid for a consecutive period of 6 months.

Eligible Insurance Policy means a regular premium life insurance policy underwritten by Prudential Assurance Company Singapore (Pte) Ltd and distributed by the Bank and which:

 

[Kiwi8]

gotch shadow boh?

https://www.channelnewsasia.com/bus...est-rate-bonusaver-account-record-805-5164281

I think no point, it has too many conditions attached.

 

[astopip]

What's the actual interest rate on 100k?

 

[nasfieldjohn]

this bank so mani conditions for this interest
worse than other local banks

 

[DragonFire]

It only applies to the first $100k though. What interest applies beyond that amount?

Edit:
The answer is "Very little". $100,000 is $8050pa interest with all conditions fulfilled - not trivial btw.
If you have $1,100,000 you get $500 extra interest. 0.05% pa.

Not a bad operational account for crediting salary ultimately, but the conditions are a little onerous.
The investment and spending conditions are ok, but the one that sticks out and requires long term commitment aka hard lock-in is the $12,000 pa insurance commitment.

While that perhaps translates into getting decent coverage at a $3950pa insurance premium after offsetting the $8050, many people will already have insurance worked out and funds allocated by the time they have spare cash to move around.

 

[vbhelper]

$1k credit card on utilities, insurance cannot not?

 

[Lchlch]

gotch shadow boh?

https://www.channelnewsasia.com/bus...est-rate-bonusaver-account-record-805-5164281

I think need to spend min amount right?

 

[AlmightyOnes]

 

[Jirachi]

Your trading commissions likely zeroise the interest you get from the category.

 

[DragonFire]

What's the actual interest rate on 100k?

8.05pa

You need to spend $1k on pm cc, deposit salary of at least 3k pm, maintain investments of 20k pm, and have 12k pa insurance premium.

 

[mewmew]

Your trading commissions likely zeroise the interest you get from the category.

yup the comms rates dey charging are almost to the moon, lubbish bang