BOC SmartSaver

[benlau1]

Woh.. this is really fast. Only one year le..

 

[Trazora]

So effectively, salary credit is 0.8 + 0.4% for below 6k right?

Sent from Note 7 using GAGT

Salary crediting bonus interest if below $6000 salary credited is 0.8%

 

[fortunecat]

Salary crediting bonus interest if below $6000 salary credited is 0.8%

But got prevailing base interest of 0.4% for 60k?

Sent from Note 7 using GAGT

 

[Trazora]

But got prevailing base interest of 0.4% for 60k?

Sent from Note 7 using GAGT

Yes, if you looking that way, why not also get the 0.35% for bill payment?

 

[greythorne]

Too bad! Now into 2nd month with BOC. Maybe need to compare with ocbc 360 and uob see which one better.

I will probably close after 6 months

 

[FrontierX]

Yes, if you looking that way, why not also get the 0.35% for bill payment?

Y not keep transferring balances between this and ocbc and scb to earn incremental balance interest also?

 

[lewissac]

Final calculation:
BOC MCS 50K
0.400 (prevailing) + 0.8 (salary 2K) + 0.35 (3 bills) = 1.55%

OCBC 360 50K:
0.05 (prevailing) + 1.2 (salary 2K) + 0.5 (3 bills) = 1.75%

Well, 0.2% difference for deposit up to 50K.

 

[lewissac]

Too bad! Now into 2nd month with BOC. Maybe need to compare with ocbc 360 and uob see which one better.

I will probably close after 6 months

Same for me! Closing the Credit card after making my first payment. And then close the bank account after 6 mths too.

 

[stamploversg]

Final calculation:
BOC MCS 50K
0.400 (prevailing) + 0.8 (salary 2K) + 0.35 (3 bills) = 1.55%

OCBC 360 50K:
0.05 (prevailing) + 1.2 (salary 2K) + 0.5 (3 bills) = 1.75%

Well, 0.2% difference for deposit up to 50K.

For OCBC there is still an incremental bonus?

 

[Trazora]

Final calculation:
BOC MCS 50K
0.400 (prevailing) + 0.8 (salary 2K) + 0.35 (3 bills) = 1.55%

OCBC 360 50K:
0.05 (prevailing) + 1.2 (salary 2K) + 0.5 (3 bills) = 1.75%

Well, 0.2% difference for deposit up to 50K.

Both are up to 60k btw

 

[lewissac]

For OCBC there is still an incremental bonus?

Yes the additional 1% incremental bonus too. But I din include it in my calculation for fair comparison wise.

 

[shared]

Alamak

Like that I go place in esavers

At least there's 1.6% - 1.7℅ hassle free

 

[kennethtbh]

Alamak

Like that I go place in esavers

At least there's 1.6% - 1.7℅ hassle free

Boc incremental balance terms like state above 60k to 1mil. If below 60k still have incremental balance bonus?

 

[fortunecat]

Yes, if you looking that way, why not also get the 0.35% for bill payment?

Ya, I'm trying to assess the low hanging fruits and see which bank is still better. If cannot use the AXS method anymore, think will be a big hassle to meet the $500 spending. Might forgo that one.

So just based on salary (<6k) + bill payment, BOC should still be the highest?

Sent from Note 7 using GAGT

 

[lewissac]

Ya, I'm trying to assess the low hanging fruits and see which bank is still better. If cannot use the AXS method anymore, think will be a big hassle to meet the $500 spending. Might forgo that one.

So just based on salary (<6k) + bill payment, BOC should still be the highest?

Sent from Note 7 using GAGT

1.55% boc vs 1.75% ocbc assuming no credit card use and deposit of up to 60k. Plus Ocbc still have extra 1% for incremental balance.

 

[fitzz82]

BOC MCS 60K
0.400 (prevailing) + 0.8 (salary 2K) + 0.35 (3 bills) + 0.8 ($500 bc/cc spend)= 2.35%

OCBC 360 60K:
0.05 (prevailing) + 1.2 (salary 2K) + 0.5 (3 bills) + 0.5 ($500 cc spend) =2.25%

excluding incremental bonus interest.

BOC MCS more by 0.1%, but more dependent on the card usage.

depends if boc family card or ocbc 365 gives better benefits.

 

[Trazora]

BOC MCS 60K
0.400 (prevailing) + 0.8 (salary 2K) + 0.35 (3 bills) + 0.8 ($500 bc/cc spend)= 2.35%

OCBC 360 60K:
0.05 (prevailing) + 1.2 (salary 2K) + 0.5 (3 bills) + 0.5 ($500 cc spend) =2.25%

excluding incremental bonus interest.

BOC MCS more by 0.1%, but more dependent on the card usage.

depends if boc family card or ocbc 365 gives better benefits.

You probably should include uob one and maybank saveup for the comparison.

 

[lewissac]

You probably should include uob one and maybank saveup for the comparison.

UOB One 50K
3.33% (prevailing + salary 2K + 500 cc spend)

Maybank Save Up 50K
0.25 (prevailing) + 2.75 (bills via GIRO + salary 2K + 500 cc spend) = 3.00%

This seems higher rate that BOC and OCBC but cc spend is inevitable.

I tried to avoid cc spend bonus since I'll be using different cards every alternate mth. Hence any bonus interest on cc spend is not eligible for me most of the time. CIMB savings shld buck up and offer equivalent products that include salary crediting bonus mah...

 

[kkcheng77]

UOB One 50K
3.33% (prevailing + salary 2K + 500 cc spend)

Maybank Save Up 50K
0.25 (prevailing) + 2.75 (bills via GIRO + salary 2K + 500 cc spend) = 3.00%

This seems higher rate that BOC and OCBC but cc spend is inevitable.

I tried to avoid cc spend bonus since I'll be using different cards every alternate mth. Hence any bonus interest on cc spend is not eligible for me most of the time. CIMB savings shld buck up and offer equivalent products that include salary crediting bonus mah...

UOB interest should be 2.43% if using your method comparison. Because UOB 3.33% is tiered from 30K to 50K.

 

[frustrateddude]

uob 1 account for 50k is 2.43%