BOC SmartSaver

[vsvs24]

Yes I’ve checked the link you posted. I’d also seen the older tables with the previous interest rates too. From my understanding, if my amount falls within that range, I’ll get that corresponding base interest rate, not tiered. I thought so because of the way they phrase it, like if it’s tiered, usually they’ll state first $X,000, next $XX,000, etc. I’m just wondering if I’ve interpreted it wrongly all this while… I use my account actively so there isn’t a fixed monthly amount for me to verify my interpretation.

Did not think of it. You might be right

Maybe someone can verify

 

[hwmook]

The max is to have $100,000 and get 4.35% :
Salary above $6000. 2.5%
Credit card above $1500 0.8%
Bill payment 0.9%
Base interest 0.15% (tiered. EIR for 100k is 0.15%)

Above $100,000 get 1% only :
Extra savings 0.6%
Base interest 0.4%

Need $1500 min to earn bonus interest.

Fall below fee $3 if monthly average bal is below $200

Reference :
BOC Smartsaver wef 1 Jan 2023
https://www.bankofchina.com/sg/pbservice/pb1/202212/t20221230_22348761.html
Terms and conditions
https://www.bankofchina.com/sg/bocinfo/bi5/201510/t20151023_5821377.html
Base interest
https://www.bankofchina.com/sg/bocinfo/bi3/bi33/202212/t20221230_22348742.html

So many conditions just to get 4.35%. Don't know why people think it's a great deal.

 

[revhappy]

So many conditions just to get 4.35%. Don't know why people think it's a great deal.

3.55% is possible with just salary credit and 3 bills. It is good for people who don't like to be forced to hit $500 on credit card spend. For me including utilities and Telco bills $300 is possible, $500 is very rare.

 

[chiokcc]

Managed to find it in the Wechat - Official Account
https://mp.weixin.qq.com/s/rlLXKmfdr19u4qXosYfQ_A
https://www.bankofchina.com/sg/pbservice/pb1/202212/t20221230_22348761.html

So now is first $100k instead of $80k ..... nice

 

[chiokcc]

3.55% is possible with just salary credit and 3 bills. It is good for people who don't like to be forced to hit $500 on credit card spend. For me including utilities and Telco bills $300 is possible, $500 is very rare.

The biggest bump in bonus interest is salary .... I am impressed .....

 

[ekardo]

revisit after rhb's Feb promotion...

but my salary already moved to OCBC...

 

[tintin]

Still not better than OCBC 360 (EIR 4.65%) or UOB One account (EIR 5%)

BOC took too long to raise their interest rates. I sure many customers like myself have given up waiting and switched in the last few months and will not come back.

 

[chiokcc]

Still not better than OCBC 360 (EIR 4.65%) or UOB One account (EIR 5%)

BOC took too long to raise their interest rates. I sure many customers like myself have given up waiting and switched in the last few months and will not come back.

DBS Multiplier is good for high earners I suppose .....

 

[sgbird]

I was planning to withdraw bal from $1500 to $200 on 1 Jan.

I transfer back all my money from UOB to BOC now. All In

 

[vsvs24]

I transfer back all my money from UOB to BOC now. All In

But if you can meet UOB's criteria, isn't it higher ?

 

[revhappy]

I transfer back all my money from UOB to BOC now. All In

Which BOC credit card you use and what is your spend like?

 

[revhappy]

But if you can meet UOB's criteria, isn't it higher ?

UOB interest rate hinges heavily on meeting the $500 CC spend. It is a big risk if we don't meet for some reason. The number of exclusions are such that it has be real spend maybe utilities and telco is the only easy spend to achieve.

I wonder is BOC CC spend requirements are more relaxed?

 

[sgbird]

But if you can meet UOB's criteria, isn't it higher ?

Lazy to change my salary account. And My house nearby supermarket only got ShengSiong, so I Use BOC ShengSiong card spending each month easily 1K+ in ShengSiong for 6% Sheng Siong rebate. UOB one card max got 3.33% rebate plus a lot of restrictions

 

[sgbird]

Which BOC credit card you use and what is your spend like?

My house nearby supermarket only got ShengSiong, so I Use BOC ShengSiong card spending each month easily 1K+ in ShengSiong for 6% Sheng Siong rebate. UOB one card max got 3.33% rebate in ShengSiong plus a lot of restrictions

 

[vsvs24]

Lazy to change my salary account. And My house nearby supermarket only got ShengSiong, so I Use BOC ShengSiong card spending each month easily 1K+ in ShengSiong for 6% Sheng Siong rebate. UOB one card max got 3.33% rebate plus a lot of restrictions

And BOC card monthly rebate and so far they waived annual fee.

UOB One card quarterly rebate and difficult to get them to waive. Waste one quarter rebate if they don't.

 

[iduncheckmail]

And BOC card monthly rebate and so far they waived annual fee.

UOB One card quarterly rebate and difficult to get them to waive. Waste one quarter rebate if they don't.

no difficulty to waive uob annual fee.
3.33% rebate on most common retail spends. No need to track whether dining la, transport la, supermarket la.

 

[vsvs24]

no difficulty to waive uob annual fee.
3.33% rebate on most common retail spends. No need to track whether dining la, transport la, supermarket la.

They did not waive mine. Put up appeal still rejected. Already spend 2 mths. Called up to terminate one week later retention unit called to say they will waive. But by then too late to spend for 3rd mth.

 

[Shawny88]

If cannot hit the 1.5k CC spending, the EIR is only 4%. UOB and OCBC are still slightly better

 

[OngHuatHuat]

Prevailing interest rate of up to 0.40% p.a. is applicable for your entire account balance. To find out more about prevailing interest rates, please refer to "Personal Savings Account Board Rates ".

 

[OngHuatHuat]

If can hit 1500 CC spending, interest rate should be 4.6%, very difficult to beat