BOC SmartSaver

[midnightGG711]

Just started looking at this eSaver, am I right to say it's for this time being only? So afterward have to transfer money somewhere else?

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

 

[mikezuper]

Effectively need to earn $7200 before CPF.

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You are right - forgot that part.

 

[midnightGG711]

Or like me...I gather my family spending using my card. Though my salary not hitting 6K, can still get 3.15%. So right now I don't have a better choice to move out.

Those who earned more than 6K will stick BOC.

 

[lazybee]

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.

I had figured the trick of using e-axs to pay CC to fulfill BOC $500 spending requirement by myself.

But I'm still willing to share secrets with others despite all these, because other ppl in this forum have shared more things with me, be it using DBS WWC or SCB card with fever, and so on.

It's quite impossible to find out every single loophole by yourself. You need works of others to complement your own work. It's quite selfish to request "loopholes" from others, but never give back in return.

OCBC is better for me (salary crediting+3 bills) because "online" credit card spend through e-axs(Sp service, town council, etc) using other cards with 6% will be better off, rather than BOC or ocbc's CC bonus.

To me, just use all the loopholes while it lasted.

 

[greatgreenman]

Just to clarify, "bills" are only those that can be paid via the BoC ibanking system. If you can't pay through there, it's probably not going to be considered a bill. At least that's what the BOC service rep told me.

 

[edens_guards]

Just started looking at this eSaver, am I right to say it's for this time being only? So afterward have to transfer money somewhere else?

Yes, until promotional period over.

 

[fortunecat]

I had figured the trick of using e-axs to pay CC to fulfill BOC $500 spending requirement by myself.

But I'm still willing to share secrets with others despite all these, because other ppl in this forum have shared more things with me, be it using DBS WWC or SCB card with fever, and so on.

It's quite impossible to find out every single loophole by yourself. You need works of others to complement your own work. It's quite selfish to request "loopholes" from others, but never give back in return.

OCBC is better for me (salary crediting+3 bills) because "online" credit card spend through e-axs(Sp service, town council, etc) using other cards with 6% will be better off, rather than using BOC or ocbc.

To me, use all the loopholes while it lasted.

Do you mean ocbc also can use AXS to pay off other cards to hit the 500 spending requirement?

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[edens_guards]

Just to clarify, "bills" are only those that can be paid via the BoC ibanking system. If you can't pay through there, it's probably not going to be considered a bill. At least that's what the BOC service rep told me.

Yup. Have to use I banking or mobile banking to pay bills deducting from smartsaver account.

 

[AMD_FREAK]

Quick question :

If I only have salary (>6k) + pay bills, which bank offers the best interest rate?

 

[chopra]

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

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Running for months liao.
Yes it's for incremental only

Sent from hoping for a slower paced singapore using GAGT

 

[midnightGG711]

Based on your qualification:
OCBC 1.75%
BOC 1.95%
SCB 1.35%
Considering base interest rate, based on 60k deposit balanace.

Quick question :

If I only have salary (>6k) + pay bills, which bank offers the best interest rate?

 

[fortunecat]

Yup. Have to use I banking or mobile banking to pay bills deducting from smartsaver account.

Ok, so not counted if use credit card to pay right.

So bills that are paid with credit card will all be counted as card spending?

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[lazybee]

Do you mean ocbc also can use AXS to pay off other cards to hit the 500 spending requirement?

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I meant,
1) ocbc 360 (salary-1.2%, 3 bills-0.5%) & using other bank's CC with e-axs (6% of $600)

2) boc smartsaver (salary+base-1.2%, 3 bills-0.35%, CC spend 0.8% without e-axs = $40 per mth for $500 spend)

3) ocbc 360 (salary-1.2%, 3 bills-0.5%, 0.5% with ocbc CC card = 0.5%x60k/12 = $25 per mth for $500 spend)

Option (1) give me more return than (3), and option 2 do not allow e-axs unless use fever(which have 1% admin). BOC require 3 bills for $30 each, ocbc only $1 each.

Yes, you get 0.5% for ocbc 360 CC spend bonus for any OCBC mastercard on eAXS, even though you get no reward on the credit card itself. Or use OCBC visa + Fever.

 

[midnightGG711]

Yes, insurance premium charged to cc confirm is card spending. I called in to their hotline last time, they said so.

Ok, so not counted if use credit card to pay right.

So bills that are paid with credit card will all be counted as card spending?

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[xpainx123]

Anyone knows if the >$6k salary criteria can be fulfilled by 2 salaries crediting in a joint account?

 

[midnightGG711]

Company HR can do that meh? They calculate all salary credits within the month and look at the total amount credited. So if your company can credit your salary to joint account, theoretically you can fulfill that 6K.

Anyone knows if the >$6k salary criteria can be fulfilled by 2 salaries crediting in a joint account?

 

[greatgreenman]

Ok, so not counted if use credit card to pay right.

So bills that are paid with credit card will all be counted as card spending?

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If I'm not mistaken you have the option to use the credit card from within ibanking to pay for bills. I haven't tried that yet; so far have only paid directly from my account.

 

[xpainx123]

Thanks for the reply! Actually I meant, is it possible for my wife and I to credit both our salaries into the joint account (total > $6k) to fulfill the salary criteria for 1.2%? Just want to confirm before I tell my HR to credit my salary to the joint account

Company HR can do that meh? They calculate all salary credits within the month and look at the total amount credited. So if your company can credit your salary to joint account, theoretically you can fulfill that 6K.

 

[midnightGG711]

Based on their written t&c, it should be okay. It says can meet this requirement through multiple credits, does not require it to be from one account holder. I'm gonna check again with them later.

Thanks for the reply! Actually I meant, is it possible for my wife and I to credit both our salaries into the joint account (total > $6k) to fulfill the salary criteria for 1.2%? Just want to confirm before I tell my HR to credit my salary to the joint account

 

[AMD_FREAK]

Based on your qualification:
OCBC 1.75%
BOC 1.95%
SCB 1.35%
Considering base interest rate, based on 60k deposit balanace.

Thank you so much!!!