BOC SmartSaver

[frustrateddude]

List the 4 interests individually

 

[expert128sg]

sorry my bad i have not add in the base interest..And yes i did receive the 3 bonus interest..But after adding in the base interest it doesnt hit my est calculated total interest as well..
Am i right to say the total bonus interest is
1.55+1+0.6=3.15
and adding in the base interest of 0.4, the total interest is 3.15+0.4 = 3.55% of the whole avg daily balance sum?

or is my understanding wrong?
<$5k interest rate(0.25+1.55+1+0.6)=3.4%
$5k till < $20k interest rate (0.275+1.55+1+0.6)= 3.425%
$20k till < $50k interest rate (0.35+1.55+1+0.6) =3.5%
>$50k interest rate (0.4+1.55+1+0.6)=3.55%
meaning to say the interest of 3.55 does not apply to the whole sum, rather the interest rates for differs for each portion of the total sum and hence will be lower. Anyone can advise me with regards to this? Thanks alot and i really appreciate

definitely is based on your full amount of 30 days in June and mutiply by the allocated interest.

i.e. if u have 60k for everyday in June u will have
60k x 3.55%/366×30

have to ensure your salary is in + 3 pmts are made and $500 card spending

 

[expert128sg]

hmm abt 90sgd? i opened in May and ensure i hit all three criterias in the mth of June..was expecting about 131.25 sgd as per my rough estimate calculations below:
50000 X (3.15/12)/100 =131.25
Or am i missing something/ did my calculations wrongly?

do u have 50k from 1 june till 30 June? any days within the month your 50k dived?

and is your salary credited within the month?

cause $90 works out to be arnd 2.2%

 

[arigatoast]

i cant believe it become a Math Olympiad question....

 

[blurpandasg2014]

Is Ez link card topup spend counted towards the 500?

 

[Trazora]

i cant believe it become a Math Olympiad question....

Lol. Hard to pin point the issue with only limited info.

 

[Trazora]

Is Ez link card topup spend counted towards the 500?

Not counted.

The total spend by a Cardmember and cash rebate awarded per Account in one billing cycle are based on posted local and foreign retail transactions in that billing cycle, and excludes interest, annual fees, finance charges, cash advances, balance transfer, purchases made through Installment Payment Plans, Flexi-Balance Instalment Plan, Tax Payment Facility, IRAS processing fee, goods and services taxes, loading of prepaid accounts, cards and merchants (including EZ-Link and TransitLink), all fees charged by BOC or any other third parties (if any) and such other transactions as determined by BOC from time to time at its sole discretion.

 

[expert128sg]

i cant believe it become a Math Olympiad question....

haha yup..unless he willing to show us the 1st June to 30 June transactions screenshots (account statement + credit card statement) haha

 

[teddymouse]

Thanks alot fellow mates for assisting me with my queries pertaining to the interest rates.. I noticed some miscalculation on my part after going through the history..sorry to trouble you guys! cheers to the higher int by BOC

 

[macguire]

Hi peeps. For the $500 spend. When is the cut off each month? Based on calendar month? Thanks in advance.

 

[arigatoast]

Not counted.

The total spend by a Cardmember and cash rebate awarded per Account in one billing cycle are based on posted local and foreign retail transactions in that billing cycle, and excludes interest, annual fees, finance charges, cash advances, balance transfer, purchases made through Installment Payment Plans, Flexi-Balance Instalment Plan, Tax Payment Facility, IRAS processing fee, goods and services taxes, loading of prepaid accounts, cards and merchants (including EZ-Link and TransitLink), all fees charged by BOC or any other third parties (if any) and such other transactions as determined by BOC from time to time at its sole discretion.

hi trazora, may i have the weblink ?

 

[ekardo]

Hi peeps. For the $500 spend. When is the cut off each month? Based on calendar month? Thanks in advance.

yes...calendar months..and was advised to spend earlier as some merchant post their transaction a few days later...

 

[Trazora]

hi trazora, may i have the weblink ?

Ok. Here it is.

http://mp.weixin.qq.com/s?__biz=MzA5MjEwMTA4Mw==&mid=401459137&idx=1&sn=6a984dd8298ed6c090bcf976f90b5bc4#rd

 

[macguire]

Ekardo! Thanks!

 

[kitkat2]

Not counted.

The total spend by a Cardmember and cash rebate awarded per Account in one billing cycle are based on posted local and foreign retail transactions in that billing cycle, and excludes interest, annual fees, finance charges, cash advances, balance transfer, purchases made through Installment Payment Plans, Flexi-Balance Instalment Plan, Tax Payment Facility, IRAS processing fee, goods and services taxes, loading of prepaid accounts, cards and merchants (including EZ-Link and TransitLink), all fees charged by BOC or any other third parties (if any) and such other transactions as determined by BOC from time to time at its sole discretion.

not counted? for both cc cashback and smartsaver bonus interests?

 

[frustrateddude]

Previously when i raised this issue, I was told I was "confused*.
NOW I AM REALLY CONFUSED

I think you misinterpreted it. The clause is one of terms and conditions for credit card reward, it is not for savings account (bonus interest for credit card spending) .

This has nothing to do with smartsaver.

http://mp.weixin.qq.com/s?__biz=MzA...&idx=1&sn=6a984dd8298ed6c090bcf976f90b5bc4#rd

(a) The total spend by a Cardmember and cash rebate awarded per Account in one billing cycle are based on posted local and foreign retail transactions in that billing cycle, and excludes interest, annual fees, finance charges, cash advances, balance transfer, purchases made through Installment Payment Plans, Flexi-Balance Instalment Plan, Tax Payment Facility, IRAS processing fee, goods and services taxes, loading of prepaid accounts, cards and merchants (including EZ-Link and TransitLink), all fees charged by BOC or any other third parties (if any) and such other transactions as determined by BOC from time to time at its sole discretion.

a sea of confusion

 

[blurpandasg2014]

Come to think of it.... If all top ups are not counted as a spend and is not eligible for rebates, den it would mean that it is also not eligible for the bank account interest. That makes this card similar to uob one card

 

[ekardo]

weird..

I have done the following but it's not reflected in the online banking;
1) debit card payment on July14
2) transfer my salary out on July15

is it becos it's weekend?

 

[ekardo]

how long is it for transfer to DBS normally? 3 days?

is there faster option? like "FAST" ?

 

[chuanz]

how long is it for transfer to DBS normally? 3 days?

is there faster option? like "FAST" ?

Yes you can FAST transfer your funds out to DBS.