BOC SmartSaver

[Xenith]

Time to move funds out of BOC and back into OCBC for me.

 

[xXxJavierxXx]

With the new ruling, Is it better to spend $1500 with boc and $500 with uob monthly?

Currently I'm doing $1000 with uob one card and $500 with boc family.

Assuming i have max out boc and uob top limit to get the bonus interest.

 

[greatgreenman]

I strongly urge all those here to think twice before sharing.

Experience has shown that altruism does not pay. The very thing that you share, wittingly or unwittingly, could come back to haunt you directly, or indirectly, sooner or later.

your experience does not serve you well bro...

 

[01asdf]

what is the exact thing shared here?

Using axs to pay other cc bills to meet the spend requirements, which is now specifically excluded by their T&Cs.

 

[ekardo]

can anyone share the comparison between BOC and OCBC side by side ? I dun see why OCBC is better..their effective interest is lower isnt it?

 

[hyperbole]

I think ppl are forgetting there is still a base interest?

 

[martin]

I think ppl are forgetting there is still a base interest?

This is the part I am not clear. If I have $70k, does the $10k earn 0.6% interest or 1% (0.6%+0.4%base)?

 

[lewissac]

can anyone share the comparison between BOC and OCBC side by side ? I dun see why OCBC is better..their effective interest is lower isnt it?

It's simple.

If you're only comparing salary + cc spend + bill payment,

BOC has the higher interest than OCBC 360.

If you're comparing only salary + bill payment,

OCBC 360 has higher interest than BOC.

 

[fortunecat]

Anyone can advise if spending on the BOC card means everything you paid with the card including bills (insurance premium, telcos bills etc), or only those non bills related?

Sent from Note 7 using GAGT

 

[edens_guards]

This is the part I am not clear. If I have $70k, does the $10k earn 0.6% interest or 1% (0.6%+0.4%base)?

10k earn 0.6% p.a.
Might as well move the 10k to SCB esaver to get around 1.55%

 

[midnightGG711]

From what I understand, you earn 1%, that part also earn base interest.

This is the part I am not clear. If I have $70k, does the $10k earn 0.6% interest or 1% (0.6%+0.4%base)?

 

[hyperbole]

It's simple.

If you're only comparing salary + cc spend + bill payment,

BOC has the higher interest than OCBC 360.

If you're comparing only salary + bill payment,

OCBC 360 has higher interest than BOC.

OCBC bill payment + salary credit is 1.75%. Boc is 1.95% if salary credit is more than 6k. 1.55% if less than 6k.

I'll be sticking to BOC.

 

[midnightGG711]

I checked with their counter staff, base interest is applicable to all account balance. So can earn 1.0% for the 10K above 60K.

10k earn 0.6% p.a.
Might as well move the 10k to SCB esaver to get around 1.55%

 

[chopra]

OCBC bill payment + salary credit is 1.75%. Boc is 1.95% if salary credit is more than 6k. 1.55% if less than 6k.

I'll be sticking to BOC.

Thanks for validating.

Esaver without doing anything is not too shabby from 1.95%/1.55% tho.

Sent from hoping for a slower paced singapore using GAGT

 

[midnightGG711]

I paid my M1 and StarHub bill using card for the past few months, if you are using card to pay telco bills through M1 or Starhub website/mobile app "payment" function, it's card spend. Insurance premium charged to credit card is also card spend.

Anyone can advise if spending on the BOC card means everything you paid with the card including bills (insurance premium, telcos bills etc), or only those non bills related?

Sent from Note 7 using GAGT

 

[mikezuper]

OCBC bill payment + salary credit is 1.75%. Boc is 1.95% if salary credit is more than 6k. 1.55% if less than 6k.

I'll be sticking to BOC.

Those who earned more than 6K will stick BOC.

 

[edens_guards]

I checked with their counter staff, base interest is applicable to all account balance. So can earn 1.0% for the 10K above 60K.

Yup u are right. For me ill move the excess 10k over to enjoy higher rates.

 

[fortunecat]

Thanks for validating.

Esaver without doing anything is not too shabby from 1.95%/1.55% tho.

Sent from hoping for a slower paced singapore using GAGT

For eSavers, is it the promotion until end of this mth only, and only for the incremental amount up from your September average?

Sent from Note 7 using GAGT

 

[zumaba]

with superb BOC Family card cash rebate considered, I think BOC saving rate of 0.8% ($500 spending) + 1.2% ($6k+ SAL) + 0.35% (3 bill) + 0.4% (base)=2.75% still the best in town.

 

[fortunecat]

Those who earned more than 6K will stick BOC.

Effectively need to earn $7200 before CPF.

Sent from Note 7 using GAGT