BOC SmartSaver

[ekardo]

can I check if the interest rate for >80k a fix 0.6% interest?

 

[Trazora]

can I check if the interest rate for >80k a fix 0.6% interest?

80k to 100k 0.4%+0.15%
beyond 100k 0.4%+0.2%

 

[Cookie Muncher]

Boc interest is not credited at the end of the month? But next month within 15 working days?

 

[vsvs24]

BOC smartsaver Base interest credited on last day of the month. Bonus interest for salary, card spend, bill payment etc about 1 week later. Jul was credited on 8 Jul, Jun was credited on 8 Jun, May was on 10 May.....

 

[Cookie Muncher]

I didn't get the base interest for supersaver for last month. I called she said not credited on last day of the month but following month within 15 biz days.

 

[ckman3]

I didn't get the base interest for supersaver for last month. I called she said not credited on last day of the month but following month within 15 biz days.

For BOC Supersaver, based on past few months, the interest is credited on 8th of following month.

 

[ekardo]

For BOC Supersaver, based on past few months, the interest is credited on 8th of following month.

from what I know, it's not fix, can be any date between 7th to 11th..

 

[pantss]

I didn't get the base interest for supersaver for last month. I called she said not credited on last day of the month but following month within 15 biz days.

I got it last month on 23rd.

I also recall TNC as 15 biz days. So that puts it at about week 3 of the month

 

[karakorum1999]

I didn't get the base interest for supersaver for last month. I called she said not credited on last day of the month but following month within 15 biz days.

For BOC Supersaver, based on past few months, the interest is credited on 8th of following month.

Yes, unlike Smartsaver, super saver works more like a current account with no (normal savings account) base interest credited at month end.

The bonus interest - for my case, is credited almost always on the 8th ( but 10th when 8th is a Sat). But it was the 7th for Jan 2021. From what others have posted, it seems to be different for different individuals- maybe they credit in batches.

 

[jeremysv]

Wanted to double confirm if my calculations is correct using Card Spend as example:

Spent between $500 and $1499 which will hit tier bonus of 0.3%
Bonus interest issued in Aug: 0.3% x 31/365 x savings amount in bank account

If my calculation is correct, is everyone receiving the amount calculated monthly?

 

[vsvs24]

Wanted to double confirm if my calculations is correct using Card Spend as example:

Spent between $500 and $1499 which will hit tier bonus of 0.3%
Bonus interest issued in Aug: 0.3% x 31/365 x savings amount in bank account

If my calculation is correct, is everyone receiving the amount calculated monthly?

Bonus interest upto 80,000 only. Based on monthly average balance (add up each day balance for the month then divide by number of days in the month). Card spend must be eligible spend.

Your received interest is different from expected ?

 

[mikezuper]

Anyone calculated what is the max we can get out of smart saver now of 80k?

 

[ekardo]

Wanted to double confirm if my calculations is correct using Card Spend as example:

Spent between $500 and $1499 which will hit tier bonus of 0.3%
Bonus interest issued in Aug: 0.3% x 31/365 x savings amount in bank account

If my calculation is correct, is everyone receiving the amount calculated monthly?

for first 80k, but you are right, the amount is not right, fall short of 0.005% - 0.008% for every month that I have checked...

 

[RedsYWNA]

Anyone calculated what is the max we can get out of smart saver now of 80k?

If you meet all criteria, I think its around 1.5%?

 

[jeremysv]

for first 80k, but you are right, the amount is not right, fall short of 0.005% - 0.008% for every month that I have checked...

Same for me, i was thinking if i am the only one facing the issue...i am not getting the correct amount monthly...

 

[jeremysv]

Bonus interest upto 80,000 only. Based on monthly average balance (add up each day balance for the month then divide by number of days in the month). Card spend must be eligible spend.

Your received interest is different from expected ?

Yes lesser.

 

[mikezuper]

If you meet all criteria, I think its around 1.5%?

I see, got breakdown?

I got 33.97 + 20.38 + 33.97 + 1.72 yesterday

 

[Trazora]

I see, got breakdown?

I got 33.97 + 20.38 + 33.97 + 1.72 yesterday

(0.5% salary + 0.3% payment + 0.5% card spend) capped for $80k saving + 0.4% for incremental savings above $80k

 

[RedsYWNA]

(0.5% salary + 0.3% payment + 0.5% card spend) capped for $80k saving + 0.4% for incremental savings above $80k

Sorry, I got it wrong. Is not 1.5% for $80k, but 1.45% for $80k

(0.5% salary + 0.3% payment + 0.5% card spend) capped for $80k saving + 0.15% prevailing interest rate = 1.45%

 

[ekardo]

I see, got breakdown?

I got 33.97 + 20.38 + 33.97 + 1.72 yesterday

ya..this amount will be short of 0.005 to 0.008% of interest
how come sia?