BOC SmartSaver

[ladypatricia]

boc card

actually the mafan thing is the salary credit. spend 500 on cc quite easy if spend on groceries and dining.

 

[lewissac]

It would appear BOC is still the best if one cannot satisfy the card spend requirements and have $6k salary.

Total interest rate is 1.95%. OCBC gives 1.75%. SCB BonusSaver gives 1.25%. Maybank Saveup gives 1.046%.

Yup.

BOC for now offer great interest rate for those who are 6K and above salary.
anyone with <6K salary I feel other banks offers better rates.

With this kind economy, it's not easy to earn 6K salary though (at least for me).

 

[greythorne]

It would appear BOC is still the best if one cannot satisfy the card spend requirements and have $6k salary.

Total interest rate is 1.95%. OCBC gives 1.75%. SCB BonusSaver gives 1.25%. Maybank Saveup gives 1.046%.

I should be getting 2.35% even if salary credit is <6k. Still thinks BOC is still better than other banks.

 

[aKaGiz]

The way I interpret the BOC prevailing interest is only the last 10k gets 0.4%, so effective is actually 0.33%. Well probably it doesn't matter much.

Anyway just do your calculations and go with whats best. I did mine.

 

[lewissac]

The way I interpret the BOC prevailing interest is only the last 10k gets 0.4%, so effective is actually 0.33%. Well probably it doesn't matter much.

Anyway just do your calculations and go with whats best. I did mine.

It's simple for me.
I don't want to commit the min $500 card spending, as it is very hard to fulfill. BOC Visa no doubt offers great rebates for households but I don't want to tie myself with min spending anymore. It's just killing myself to get rebates.

So without card spending, I'm better off with POSB Cashback or OCBC 360 with slightly higher rate than BOC.

 

[aKaGiz]

Conclusion is there is no 1 best savings account for everyone as we all have different needs.
If you have no spending, I think the best is esaver as the interest rate applies to 100000

 

[oceanicmanta]

Conclusion is there is no 1 best savings account for everyone as we all have different needs.
If you have no spending, I think the best is esaver as the interest rate applies to 100000

think u meant BonusSaver bonus interest applies to 100k ?

 

[pcmdan]

The way I interpret the BOC prevailing interest is only the last 10k gets 0.4%, so effective is actually 0.33%. Well probably it doesn't matter much.

Anyway just do your calculations and go with whats best. I did mine.

nope. BOC doesnt work based on tiering (unlike UOB). the full 60k will get 0.4%

 

[pcmdan]

I should be getting 2.35% even if salary credit is <6k. Still thinks BOC is still better than other banks.

totally agree. is ez to hit 2.35%. since it has similar requirement as OCbC. BOc still win by a little

 

[aKaGiz]

nope. BOC doesnt work based on tiering (unlike UOB). the full 60k will get 0.4%

Let me quote from BOC website

"Prevailing interest rate for MCS Account is based on tier basis. The more you deposit the higher interest rate you can earn."

Above $50k 0.4%. How do you guys interpret this

 

[vince123123]

Think different people have different circumstances.

For me, my spending is to try to generate miles but BOC doesn't really have a good miles card.

actually the mafan thing is the salary credit. spend 500 on cc quite easy if spend on groceries and dining.

 

[lewissac]

Think different people have different circumstances.

For me, my spending is to try to generate miles but BOC doesn't really have a good miles card.

I'm with you in this case.
Trying to avoid cashback after realising that I'm already saving pretty ok even without cashback. Prefer to go for rewards/miles card instead as it doesn't limit by min spending on a single card. That way, I can actually diversify my expenditures and at the same time gain more miles on different cards without bursting my actual monthly spending budget.

 

[Trazora]

Let me quote from BOC website

"Prevailing interest rate for MCS Account is based on tier basis. The more you deposit the higher interest rate you can earn."

Above $50k 0.4%. How do you guys interpret this

Above $50k the full balance gets 0.4%.

 

[fitzz82]

I'm with you in this case.
Trying to avoid cashback after realising that I'm already saving pretty ok even without cashback. Prefer to go for rewards/miles card instead as it doesn't limit by min spending on a single card. That way, I can actually diversify my expenditures and at the same time gain more miles on different cards without bursting my actual monthly spending budget.

Wats e best miles card without min spend?

 

[oceanicmanta]

Above $50k the full balance gets 0.4%.

double confirm this

need a 3rd person to chop

 

[ekardo]

double confirm this

need a 3rd person to chop

check the example given in the BOC website or their brochure..that one is printed, chopped, guaranteed and FOC.

 

[lewissac]

Wats e best miles card without min spend?

Depend on your spending I believe. For me. UOB Preferred cuz 4mpd for paywave and online is pretty ok. Can use for daily payment on Paywave

 

[LoanGroan]

Anyone know what the boc Bank key is?

Sent from Samsung SM-G935F using GAGT

 

[expert128sg]

Let me quote from BOC website

"Prevailing interest rate for MCS Account is based on tier basis. The more you deposit the higher interest rate you can earn."

Above $50k 0.4%. How do you guys interpret this

Dont need to interpret, I get this monthly. Bank interests credited does not lie. Thats the most accurate basis

 

[weiming41]

double confirm this

need a 3rd person to chop

Yea, I'm receiving 0.4% on full amount currently.