BOC SmartSaver

[drgame871]

haha same lol...asked the same qns b4 some pro say is normal..so i left it as such

Presume this still counts as one bill payment via GIRO?

 

[drgame871]

5 BOC cards in separate mailers arrived in mailbox yesterday, some 17 days after application.

As primitive as its internet banking, activation of each BOC card is not activated instantly but with a message that reads:
"Your SMS has been received. We will call or send you a confirmation SMS within 2 working days to advise on Activation Status. Thank you."

Bank of China is simply amazing!

Did you receive the redemption letter for the lugguage?

 

[zumaba]

anyone know when the base interest and bonus interest will come in?

 

[cReDdY]

i want to know that too lol

 

[pcmdan]

think the base is in alr right? i saw the interest in alr

 

[hyperbole]

think the base is in alr right? i saw the interest in alr

yup base in already

 

[sandwicher]

Base in on 30th.

Bonus within 15 business days. It's on the website actually, not hidden at all.

 

[lazybee]

Sorry, i'm not really savvy on such financial stuff, can i ask if based on your above scenario to max out 120k savings, we should see a monthly combined interest of $215 from both BOC/OCBC?

What if i only have 100K, which BOC/OCBC combo will yield the better interest?

Thanks.

Yes, I should earn $127.5 on BOC and $87.5 on ocbc. Total is $215 per month, provided I pay 3 bills for both account and have 60K each.

Depends on how much you spend on your CC per mth.
- If 1000, maybe BOC+UOB combo will be better (Or BOC+BOC if you use your wife name to open another account. At least 2.55% even without salary credit).
- If 500, then it really depends, since you do not really maximise the interest earned as you have less than 120K.
- If spend 0 on CC but 100K, BOC (2%) + Scb Esaver(1.4%) - need 2 accounts for transfer per 2 mth for promotion. may use ocbc over BOC if you want to earn 1% incremental interest. You can only credit your salary to BOC or ocbc...

 

[cheesey]

Yes, I should earn $127.5 on BOC and $87.5 on ocbc. Total is $215 per month, provided I pay 3 bills for both account and have 60K each.

Depends on how much you spend on your CC per mth.
- If 1000, maybe BOC+UOB combo will be better (Or BOC+BOC if you use your wife name to open another account. At least 2.55% even without salary credit).
- If 500, then it really depends, since you do not really maximise the interest earned as you have less than 120K.
- If spend 0 on CC but 100K, BOC (2%) + Scb Esaver(1.4%) - need 2 accounts for transfer per 2 mth for promotion. may use ocbc over BOC if you want to earn 1% incremental interest. You can only credit your salary to BOC or ocbc...

Thanks Lazybee for your insight.

 

[sgdividends]

Anyone gotten the sms regarding the salary credit 100 bucks card promotion plan update here..

Understand Tcs says up to 2 months to receive ..

 

[cazfaith]

Yes, I should earn $127.5 on BOC and $87.5 on ocbc. Total is $215 per month, provided I pay 3 bills for both account and have 60K each.

Depends on how much you spend on your CC per mth.
- If 1000, maybe BOC+UOB combo will be better (Or BOC+BOC if you use your wife name to open another account. At least 2.55% even without salary credit).
- If 500, then it really depends, since you do not really maximise the interest earned as you have less than 120K.
- If spend 0 on CC but 100K, BOC (2%) + Scb Esaver(1.4%) - need 2 accounts for transfer per 2 mth for promotion. may use ocbc over BOC if you want to earn 1% incremental interest. You can only credit your salary to BOC or ocbc...

If I were to credit my salary and pay 3 bills with OCBC? Would BOC or UOB be better for my second account? My spending each month is not fix

 

[quxin43]

Thanks Lazybee for your insight.

It is confirmed by BOC CSO that transfer money from boc saving account to boc cc is NOT qualified for 0.6% interest while pay bill to boc cc can.
It is sad that you can not "pay bill" to citi bank cc
the "pay bill" to other bank's cc is not instant. I 'pay bill' to UOB cc yesterday, my UOB cc is still waiting for the money till now

 

[more3cm]

the "pay bill" to other bank's cc is not instant. I 'pay bill' to UOB cc yesterday, my UOB cc is still waiting for the money till now

Paying CC bills from another bank is never instant

 

[lazybee]

If I were to credit my salary and pay 3 bills with OCBC? Would BOC or UOB be better for my second account? My spending each month is not fix

UOB one account need to have $500 spending, otherwise you get nothing.

Assuming you use ocbc for 1st account with salary credit already,

With 3 bills and no salary credit, and 0 CC spending:
BOC - 0.6 + 0.4 = 1%
Scb - 1.4%
Fastsaver - 1%
UOB one - nothing

If your spending is not fixed, try to make advance payment to your bills to reach 500 for a month and spend nothing the next mth. For this case, BOC will be better as you get 2.55% for that month of CC spend. Then transfer to scb Esaver.

 

[cazfaith]

Thanks Lazybee!!! So does it make sense to use the BOC shop card for all my purchases so as to max my rebate?

 

[OngHuatHuat]

They only give you rebate for online and departmental store.

Thanks Lazybee!!! So does it make sense to use the BOC shop card for all my purchases so as to max my rebate?

 

[Flex11]

Thanks Lazybee!!! So does it make sense to use the BOC shop card for all my purchases so as to max my rebate?

Yup. Swipe till you hit the $500 target for the 1.55%.

Then subsequent purchases will depend on whether BOC card is giving you more discount than other cards or not.

 

[lazybee]

Yup. Swipe till you hit the $500 target for the 1.55%.

Then subsequent purchases will depend on whether BOC card is giving you more discount than other cards or not.

Yah, I agree. 1.55% for the 500 spend, and 0.6%(3 bills) and 0.4%(base). Total 2.55% for BOC.

 

[winguy]

is it possible to schedule a monthly transfer out of BOC acc? cant find the option

 

[hyperbole]

is it possible to schedule a monthly transfer out of BOC acc? cant find the option

Cannot. They have a section to show you list of scheduled transactions but no way to make a scheduled transaction