BOC SmartSaver

[FT PRIDE]

Anyway, for amounts exceeding $60k, one can also just park at CIMB fastsaver for 1% pa, no lockup, no conditions.

First S$50,000 1.00% p.a.
Above S$50,000 0.60% p.a.
^ Applies to balances up to S$50,000. For balances above S$50,000, the base interest rate of 0.60% p.a. will apply.
No?

 

[direbmem]

do we need to make an initial deposit when we go down to the branch to open the account ? It's not sttedated in the website.

 

[hyperbole]

do we need to make an initial deposit when we go down to the branch to open the account ? It's not sttedated in the website.

yes 1500 min deposit. just withdraw money to put the initial deposit. someone here didn't meet the 1500 adb and got no bonus interests.

 

[direbmem]

yes 1500 min deposit. just withdraw money to put the initial deposit. someone here didn't meet the 1500 adb and got no bonus interests.

thank u very much

 

[jovialger]

First S$50,000 1.00% p.a.
Above S$50,000 0.60% p.a.
^ Applies to balances up to S$50,000. For balances above S$50,000, the base interest rate of 0.60% p.a. will apply.
No?

I meant after the $60k with BOC Smartsaver, the next $50k of your funds can be left with fastsaver, without any conditions and lockin period, for 1% interest. I read somewhere here some are tied up with BOC for 1% high interest.

 

[pop]

Just opened BOC smartsaver yesterday. I was trying to test a transfer to SCB, but there is no Fast Transfer, only MEPS?

 

[wts2013]

Just opened BOC smartsaver yesterday. I was trying to test a transfer to SCB, but there is no Fast Transfer, only MEPS?

read this http://www.bankofchina.com/sg/custserv/cs1/201509/t20150918_5661906.html

 

[pop]

read this http://www.bankofchina.com/sg/custserv/cs1/201509/t20150918_5661906.html

Am I missing something? I followed the instructions and set up frequent domestic transfer but when i do transfer, the drop down menu for method just have MEPS, no other choices.

 

[hyperbole]

Am I missing something? I followed the instructions and set up frequent domestic transfer but when i do transfer, the drop down menu for method just have MEPS, no other choices.

i tried to transfer to scb only got MEPS too. i sent them an email.

 

[hyperbole]

Just opened BOC smartsaver yesterday. I was trying to test a transfer to SCB, but there is no Fast Transfer, only MEPS?

got a reply from them:

There are 2 Standard Chartered Bank options in our internet banking under new payee. Kindly choose the SWIFT code SCBLSGSGXXX and this option include GIRO, MEPS and FAST.

 

[VacheronLim]

I meant after the $60k with BOC Smartsaver, the next $50k of your funds can be left with fastsaver, without any conditions and lockin period, for 1% interest. I read somewhere here some are tied up with BOC for 1% high interest.

for a user who can still fulfill the requirement of 3 bill payments + $500 spending on credit card, after the first $60K in BOC smartsaver, the OCBC 360 acct can also be another alternative (1.05% interest rate + 1% incremental + whatever cc rebates if cc spending above $600)?

but of course it requires a lot more work/effort, to ensure that the 2 requirements are met for this "secondary account"

 

[OngHuatHuat]

for a user who can still fulfill the requirement of 3 bill payments + $500 spending on credit card, after the first $60K in BOC smartsaver, the OCBC 360 acct can also be another alternative (1.05% interest rate + 1% incremental + whatever cc rebates if cc spending above $600)?

but of course it requires a lot more work/effort, to ensure that the 2 requirements are met for this "secondary account"

Total monthly spending on the high side.

 

[nasfieldjohn]

is paying Telco bill through Telco website using boc debut card considered as spending?

the CSO said its considered as bill payment

 

[jovialger]

for a user who can still fulfill the requirement of 3 bill payments + $500 spending on credit card, after the first $60K in BOC smartsaver, the OCBC 360 acct can also be another alternative (1.05% interest rate + 1% incremental + whatever cc rebates if cc spending above $600)?

but of course it requires a lot more work/effort, to ensure that the 2 requirements are met for this "secondary account"

Spending $1k monthly will be on the tough side. That said, if you still can spend another $500 on alternative months, you can just transfer all balance (up to cap) to OCBC360 to earn the 2% for that month (including the incremental balance) on alternate months, which is also not bad.

Dash/Singtel currently has promotion offering 2% pa for up to $10k till end Feb. This will be easier for me to achieve without high cc spending

Also just redeemed my free travel on MRT for my bank nets flashpay card. Note one has to go and "redeem" the rebate, it does not automatically gets credited to you. GREAT!

 

[pop]

got a reply from them:

Thanks for sharing, bro. Appreciate it.

 

[VacheronLim]

Spending $1k monthly will be on the tough side. That said, if you still can spend another $500 on alternative months, you can just transfer all balance (up to cap) to OCBC360 to earn the 2% for that month (including the incremental balance) on alternate months, which is also not bad.

Dash/Singtel currently has promotion offering 2% pa for up to $10k till end Feb. This will be easier for me to achieve without high cc spending

Also just redeemed my free travel on MRT for my bank nets flashpay card. Note one has to go and "redeem" the rebate, it does not automatically gets credited to you. GREAT!

legit alternative

am pondering over this too, working on the assumption that user can consistently spend $500 on cc + make 3 bill payments every month, will it be more productive to do the alternate mth option (to take advantage of 2%) or stick with the slow-n-steady option (stay put with OCBC as secondary acct)

then again, for that 1% odd, pales in comparison with some of the FD rates now (just that there's lock-in period, although no need to monitor and ensure the mthly requirements are met)

 

[iadpotato]

My salary half credit into 360 and half credit into SmrtSaver.. $3k plus each. Hehe

 

[Allen_C_Sharp]

My salary half credit into 360 and half credit into SmrtSaver.. $3k plus each. Hehe

How did u do that? Can request hr split salary into multiple accounts? Ur company allow that then should split into 3, one more boc or 360, lol...

 

[Solo_Apple]

the $1500 minimum is average of total days of the month?

e.g. if I open the account on 12/30 and I deposit like $3000, plus another 3 transaction, I won't get the 0.6% for 1 or 2 days. Correct?

 

[Trazora]

the $1500 minimum is average of total days of the month?

e.g. if I open the account on 12/30 and I deposit like $3000, plus another 3 transaction, I won't get the 0.6% for 1 or 2 days. Correct?

If you maintain $3000 for 2 days, the average daily balance will be $3000. And you should get bonus interest prorated for the 2 days