BOC SmartSaver

[Trazora]

Btw just to let u all know, there are instalment charges incurred at 2 to 5%.

But based on my calculation, I could still earn some money despite paying extra charges

Can have 0% ipp at some merchants

 

[kokitty]

Btw just to let u all know, there are instalment charges incurred at 2 to 5%.

But based on my calculation, I could still earn some money despite paying extra charges

wah....pay installment charges at 2-5% still can earn $$$... Very impressed with your managing strategy....

 

[Trazora]

wah....pay installment charges at 2-5% still can earn $$$... Very impressed with your managing strategy....

Can earn but much less

 

[royalmix]

Thanks bro.

Found Boc more n more complicated ha...need to differentiate smart saver calendar spend and family statement cycle, and then installment one qualify for min spend another ineligible for rebates.

need to manage to max interest lor

 

[Trazora]

need to manage to max interest lor

Not worth it lah 2% rebate worth about 24% interest

 

[royalmix]

Not worth it lah 2% rebate worth about 24% interest

err me referring to max smartsaver interest

 

[Trazora]

err me referring to max smartsaver interest

Well not worth it to resort to installment just for that

 

[smallfry]

Hi guys. Sorry for my noob question but with such interest rates of SmartSaver, OCBC 360, etc, why do people still put money in fixed deposits? Am I right to say that the reason is that FD is less liquid (due to loss of interest if withdrawn early), so it's like a form of forced savings?

 

[VacheronLim]

Hi guys. Sorry for my noob question but with such interest rates of SmartSaver, OCBC 360, etc, why do people still put money in fixed deposits? Am I right to say that the reason is that FD is less liquid (due to loss of interest if withdrawn early), so it's like a form of forced savings?

some may have quite an amount of cash on hand, most of these accounts have cap @ 50-60K only so after exhausting the options, the next alternative could be FD which don't require meeting the monthly requirements

 

[BBCWatcher]

Fixed Deposits are also for relatively short-term cash holdings (e.g. 12 months). Singapore Savings Bonds have better yields but are limited to $100K per person.

 

[Ralphane]

Does paying other credit card bills using BOC credit/debit card count as "Eligible retail transactions"?

E.g. Paying POSB Everyday card bill using BOC Family Card..

 

[Trazora]

Does paying other credit card bills using BOC credit/debit card count as "Eligible retail transactions"?

E.g. Paying POSB Everyday card bill using BOC Family Card..

No. 10 char

 

[royalmix]

Does paying other credit card bills using BOC credit/debit card count as "Eligible retail transactions"?

E.g. Paying POSB Everyday card bill using BOC Family Card..

can it be done in the first place?

 

[solitudinal]

can it be done in the first place?

Not anymore.

 

[chopra]

does anyone know if i can put a standing order to get BOC to do monthly bill payment?

quite shag to manually key in for bill payment every month.

 

[Trazora]

does anyone know if i can put a standing order to get BOC to do monthly bill payment?

quite shag to manually key in for bill payment every month.

Can use GIRO.

 

[chopra]

Can i giro a fixed amt every mth? I tried searching ..but cant find

 

[vince123123]

There are also people who don't want to or don't know how to satisfy all the criteria to get bonus interest and/or want to move money every 2 months to get these bonus interest, hence they just put into a FD. More effort commensurate with higher benefits.

Hi guys. Sorry for my noob question but with such interest rates of SmartSaver, OCBC 360, etc, why do people still put money in fixed deposits? Am I right to say that the reason is that FD is less liquid (due to loss of interest if withdrawn early), so it's like a form of forced savings?

some may have quite an amount of cash on hand, most of these accounts have cap @ 50-60K only so after exhausting the options, the next alternative could be FD which don't require meeting the monthly requirements

 

[AnTiLooP]

need some clarification:

alot of these saver accounts now state that XX interest provided on fresh funds deposit. What does this mean?

eg if I have 20,000, and i deposit additional 10K doees it mean the interest only applies to the 10k ?

 

[Trazora]

need some clarification:

alot of these saver accounts now state that XX interest provided on fresh funds deposit. What does this mean?

eg if I have 20,000, and i deposit additional 10K doees it mean the interest only applies to the 10k ?

It means interest is based on difference between the average daily balance (adb) of the months under the promo and the adb of the reference month (ie the month just before the start of the promo)