BOC SmartSaver

[rerear]

must go register the account in IB
under account overview, there is 2 tabs. Click the right tab..register it

Good tip! How about your CC accounts, able to view them after registering MCS? I previously able to see them, but after register for MCS, all disappeared.

Also, what is the minimum Bill Payment amount from BOC MCS account? Seems like 10 SGD?

 

[pcmdan]

mine is linked by the bank teller..so i dont have any issue on that

haha not a gd tip..just that i learnt it the hard way by trying out myself after a gd 5mins. so i can understand the frustration hahah

 

[pcmdan]

Good tip! How about your CC accounts, able to view them after registering MCS? I previously able to see them, but after register for MCS, all disappeared.

Also, what is the minimum Bill Payment amount from BOC MCS account? Seems like 10 SGD?

5 i think. Though i made $10 to all immediatelu

 

[Perisher]

http://forums.hardwarezone.com.sg/c...-facilities-243/boc-smartsaver-5219627-6.html

I dont know how different it is. BOC Smart Saver under credit card facilities is not Credit Card. Unless, BOC Smart Saver is a Credit Card or Line of Credit. Which apparently, it isnt and it is more of a OCBC 360 kind of product offering that the Bank provides.

IMO, they are referring to the same thing. Of course, others can think of it differently. I have no objection. But I believe they share similarity.

Your feedback is noted.
That thread seems to be doing fine but if more people request it to be merge or if it causes confusion then will do so. Will bring it back into MM section if it happens since as you said, it's not CC.

One thing I do notice is the crowd at CC and at MM is different so it's fine to have the same topic within these 2 but would still go case by case and see how things flow.

 

[hyperbole]

Your feedback is noted.
That thread seems to be doing fine but if more people request it to be merge or if it causes confusion then will do so. Will bring it back into MM section if it happens since as you said, it's not CC.

One thing I do notice is the crowd at CC and at MM is different so it's fine to have the same topic within these 2 but would still go case by case and see how things flow.

The OCBC 360 account also had 2 threads. Same thing. It's not confusing so much as its inconvenient. Sometimes people are asking exactly the same things in two different threads

 

[Allen_C_Sharp]

http://forums.hardwarezone.com.sg/c...-facilities-243/boc-smartsaver-5219627-6.html

I dont know how different it is. BOC Smart Saver under credit card facilities is not Credit Card. Unless, BOC Smart Saver is a Credit Card or Line of Credit. Which apparently, it isnt and it is more of a OCBC 360 kind of product offering that the Bank provides.

IMO, they are referring to the same thing. Of course, others can think of it differently. I have no objection. But I believe they share similarity.

Maybe due to the audience of cc n mm are different, some ppl dun come here they only look at cc section so it's convenient for them without switching between 2 thread to get the info, actually myself also only went to cc section before knowing we have a thread here too. I think it's ok to leave it in 2 sections as 360 thread as some ppl only visit cc section there and they mentioned it helped them to see a thread there, maybe they just dun want switch between 2 different sections, few ppl like us still can go 2 sections if we want, it maybe only good to combine when it suits most of the people needs. If combine to mm, cc will not be happy, vice versa, lol~

 

[chopra]

http://forums.hardwarezone.com.sg/c...-facilities-243/boc-smartsaver-5219627-6.html

I dont know how different it is. BOC Smart Saver under credit card facilities is not Credit Card. Unless, BOC Smart Saver is a Credit Card or Line of Credit. Which apparently, it isnt and it is more of a OCBC 360 kind of product offering that the Bank provides.

IMO, they are referring to the same thing. Of course, others can think of it differently. I have no objection. But I believe they share similarity.

They are exactly e same thing. I agree to merge too

Sent from ew line is so sloooow using GAGT

 

[chopra]

http://forums.hardwarezone.com.sg/c...-facilities-243/boc-smartsaver-5219627-6.html

I dont know how different it is. BOC Smart Saver under credit card facilities is not Credit Card. Unless, BOC Smart Saver is a Credit Card or Line of Credit. Which apparently, it isnt and it is more of a OCBC 360 kind of product offering that the Bank provides.

IMO, they are referring to the same thing. Of course, others can think of it differently. I have no objection. But I believe they share similarity.

I second e idea to merge to reduce repeated FAQ

Sent from ew line is so sloooow using GAGT

 

[sandwicher]

Agree. It's a hassle for us to view two separate threads for the same topic as well. Why the repetition?

 

[sgdividends]

Bank of China CSO (Singapore) says credit card takes 3 weeks to process. This is really slow.

How long did it take for yours?

 

[Soul77]

Bank of China CSO (Singapore) says credit card takes 3 weeks to process. This is really slow.

How long did it take for yours?

Yes. They are very slow. Even without the smart saver last time I applied took 3 weeks+. I even called them asking if they receive my application.

 

[13luetooth]

Am I right to say that if you can hit the 3.55% for BOC, theres really no point doing any fixed deposit or bond nowadays that gives below 3% return after maturity ?

 

[NightOwl88]

My company HR just said "Unfortunately, our bank and system do not support salary payment to BOC."
Oh no... Why like that? BOC is not a recognize bank? Or sub par...

 

[Perisher]

The OCBC 360 account also had 2 threads. Same thing. It's not confusing so much as its inconvenient. Sometimes people are asking exactly the same things in two different threads

hmmm... ok, Shall merge them later.

 

[13luetooth]

Guys can someone enlighten me on this? I worked out the math and to me OCBC 360 seems to be still slightly better than BOC

So let say base saving is 10k and monthly additional saving is 1k.
Fulfill all requirement except for the spending of cc card.
hence BOC interest rate is 1.875%
and OCBC will be up to 2.75% (1.2% salary, 0.5% pay bills, 1% incremental saving, 0.05% base int)

BOC
10k * 1.85% * (31/365) = $15.71 interest return
11k * 1.85% * (30/365) = $16.72 interest return

Total interest return = $32.43

OCBC 360
(10k * (1.2% + 0.5% + 0.05%) * (31/365)) + (1k * 1% * (31/365)) = $15.71
(11k * (1.2% + 0.5% + 0.05%) * (30/365)) + (1k * 1% * (30/365)) = $16.64

Total interest return = $32.35

Conclusion, OCBC 360 is still slightly better than BOC ? Is my calculation wrong ?

 

[more3cm]

Guys can someone enlighten me on this? I worked out the math and to me OCBC 360 seems to be still slightly better than BOC

So let say base saving is 10k and monthly additional saving is 1k.
Fulfill all requirement except for the spending of cc card.
hence BOC interest rate is 1.875%
and OCBC will be up to 2.75% (1.2% salary, 0.5% pay bills, 1% incremental saving, 0.05% base int)

BOC
10k * 1.85% * (31/365) = $15.71 interest return
11k * 1.85% * (30/365) = $16.72 interest return

Total interest return = $32.43

OCBC 360
(10k * (1.2% + 0.5% + 0.05%) * (31/365)) + (1k * 1% * (31/365)) = $15.71
(11k * (1.2% + 0.5% + 0.05%) * (31/365)) + (1k * 1% * (31/365)) = $17.19

Total interest return = $32.9

Conclusion, OCBC 360 is still slightly better than BOC ? Is my calculation wrong ?

BOC and OCBC needs to have same number of days in 2nd month..

 

[13luetooth]

BOC and OCBC needs to have same number of days in 2nd month..

Thank you for pointing that out. I have edited that post already. So if thats the case the difference is actually not very significant. But if fulfil the CC spending requirement, it will be much more significant since its a 1.55% vs 0.5%.

In summary, BOC is more worth it if you have CC spending beyond $500 monthly.

Is this correct?

 

[more3cm]

So if thats the case the difference is actually not very significant. Is this correct?

It's like that because of your problem formulation in which the incremental amt is so tiny... Whether this difference is significant depends on individual

 

[zumaba]

Just went to BOC to change my token and was told my Dual Currency Account (which is enjoying the rate 1.8% for SGD and 3.5% for RMB) is the same for this Smart Save account.

Wow, so good, just pump another $60K (as i have $100k locked 6mth under promotion rate and blur blur to spend $500 with its 6% rebate Shop! card and to pay three bills, already enjoy 2.15%?

Too good! Even din bother to ask my HR to change my salary giro a/c to BOC for a 3.15%!

Unbelieveable! Thank you, BOC!!!

Is this just bcos Xi DaDa in town?

 

[cReDdY]

going down to open later at JE branch. their work hours really