BOC SmartSaver

[hyperbole]

The salary was grio successfully?

Yup. Went through

 

[sgdividends]

http://www.bankofchina.com/sg/bocinfo/bi2/201511/t20151111_5934921.html

Quite vague, existing BOC salary crediting do not qualify.

What if u open the account on 1 Nov, then you applied with HR on 2 Nov, then your first credit salary is on 11 Nov...still apply ?

Use the 2 Nov or 11 Nov or 1 Nov as the qualifying ?

 

[hyperbole]

Quite vague, existing BOC salary crediting do not qualify.

What if u open the account on 1 Nov, then you applied with HR on 2 Nov, then your first credit salary is on 11 Nov...still apply ?

Use the 2 Nov or 11 Nov or 1 Nov as the qualifying ?

they won't know when you applied with HR ma. so they would consider 11 nov

 

[SCG8866T]

they won't know when you applied with HR ma. so they would consider 11 nov

I called them to ask(must converse in china chinese), they say they dont have a specific start date only the promo end date. She asked me to wait for the sms...

 

[edwinttt1978]

Quite vague, existing BOC salary crediting do not qualify.

What if u open the account on 1 Nov, then you applied with HR on 2 Nov, then your first credit salary is on 11 Nov...still apply ?

Use the 2 Nov or 11 Nov or 1 Nov as the qualifying ?

Under clause 2 of the terms and conditions of the "Get a free S$100 NETS FlashPay Card with BOC Salary Crediting Promotion",

The Promotion is only applicable to the Bank’s first 500 customers who have their salary successfully credited by their employers into their BOC Multi-Currency Savings Account (“MCS Account”) with a first minimum payment amount of S$2,000 during the Promotion period.

It is clear that mere application of the salary crediting is not enough; the salary must also be successfully credited. So, 11 Nov is the qualifying date.

 

[jackieatbtu]

To be successfully credited to mcs means end of the month. Salaries usually paid end of month right? Then very hard to win.

 

[edwinttt1978]

To be successfully credited to mcs means end of the month. Salaries usually paid end of month right? Then very hard to win.

Ask HR to credit money in advance for emergency use.

 

[ctzehock]

it doesn't seems to support payment of citibank credit card. anyone manage to do that ?

 

[sandwicher]

Yup removed 6500. If not the account number would be too long (longer than 11 digits).

http://www.bankofchina.com/sg/custserv/cs4/201308/t20130806_2399036.html

See FAQ number 8 for more confirmation

 

[zzzyen]

Hihi, a noob question here. Why credit salary to BoC when OCBC 360 is $10 more each mth when salary is credited there? Unless the HR supports split salary?

 

[edwinttt1978]

Hihi, a noob question here. Why credit salary to BoC when OCBC 360 is $10 more each mth when salary is credited there? Unless the HR supports split salary?

Because all things being equal, BOC pays 3.55% pa. while OCBC360 pays 2.25%pa. On $60k savings, the difference is $65 more per month with BOC.

 

[Soul77]

Hihi, a noob question here. Why credit salary to BoC when OCBC 360 is $10 more each mth when salary is credited there? Unless the HR supports split salary?

1 post count

Anyway. to answer your question. BOC is giving 1% salary bonus + 0.6% payment bonus + 1.55% spending bonus + 0.4% base (for 60k), total of 3.55%.

and I can use BOC shop for the spending bonus on my online stuff (I mostly buy items online) and can get additional 5% cashback for the online stuff and at the same time fulfill the spending bonus. So I'm getting full 3.55%

For 360, last time used to be ok, until they change the Frank rules, and I can't hit the spending limit anymore. So for my case, I can only get 1.2% + 0.5% (payment), total of 1.7% only

 

[wts2013]

Hihi, a noob question here. Why credit salary to BoC when OCBC 360 is $10 more each mth when salary is credited there? Unless the HR supports split salary?

hahaha, because all these people are migrating from ocbc360 to BOC Smartsaver account lah. If u are maintaining both ocbc360 and BOC smartsaver, then u are right to keep salary in 360 to earn higher interest lor on your 60k there. So depends on how many accounts u have and how much money u have lor, hahaha

 

[jackieatbtu]

hahaha, because all these people are migrating from ocbc360 to BOC Smartsaver account lah. If u are maintaining both ocbc360 and BOC smartsaver, then u are right to keep salary in 360 to earn higher interest lor on your 60k there. So depends on how many accounts u have and how much money u have lor, hahaha

Not necessarily true. I did a calculation if I have 60k in both accounts. And, when there is no spending on Frank card and salary credited into BOC, there is no point retaining 360 account. Cause only get 0.55% interest. CIMB fastsaver already automatically 1% interest.

 

[wts2013]

Not necessarily true. I did a calculation if I have 60k in both accounts. And, when there is no spending on Frank card and salary credited into BOC, there is no point retaining 360 account. Cause only get 0.55% interest. CIMB fastsaver already automatically 1% interest.

hello, what is not true, u are not talking about the same thing we are talking about hor

which account pay higher interest for salary crediting = ocbc 360, so your 60k in ocbc 360 earns more than your 60k in BOC smartsaver for salary crediting. So if you have salary (1.2) and 3 bills payment (0.5%), u get 1.75% on ocbc 360 wor, if u have cc then add 0.5% lor

BOC = 1.55% cc, 3 bills 0.6%, base up to 0.4%, total = 2.55%

unless u only have 60k lor, hahaha

 

[hwmook]

Not necessarily true. I did a calculation if I have 60k in both accounts. And, when there is no spending on Frank card and salary credited into BOC, there is no point retaining 360 account. Cause only get 0.55% interest. CIMB fastsaver already automatically 1% interest.

You can use the 360 account every alternative month to get the 1% more for incremental deposit.

 

[jackieatbtu]

You can use the 360 account every alternative month to get the 1% more for incremental deposit.

So, I should empty out 360 every alternative month and leave 3k inside? Where to park the money?

 

[zoossh]

So, I should empty out 360 every alternative month and leave 3k inside? Where to park the money?

http://forums.hardwarezone.com.sg/98115868-post7154.html

 

[lazybee]

Not necessarily true. I did a calculation if I have 60k in both accounts. And, when there is no spending on Frank card and salary credited into BOC, there is no point retaining 360 account. Cause only get 0.55% interest. CIMB fastsaver already automatically 1% interest.

wts2013 is correct. I have 120k. To maximise the returns,

BOC : I get 2.55% of 60K for 3 bills, 500 spend
OCBC : I get 1.75% of 60K for salary credit, 3 bills.

My 120K can be used to offset my property loan (@1.6%), but it is better off using these money to earn more interest. The rest of my excess money from income can buy stocks or to offset the loan.

 

[Kcusts]

wts2013 is correct. I have 120k. To maximise the returns,

BOC : I get 2.55% of 60K for 3 bills, 500 spend
OCBC : I get 1.75% of 60K for salary credit, 3 bills.

My 120K can be used to offset my property loan (@1.6%), but it is better off using these money to earn more interest. The rest of my excess money from income can buy stocks or to offset the loan.

Didn't consider UOB One account?