BOC SmartSaver

[OngHuatHuat]

Yeah this is what I thought also.

dont need to convince these people.

the lesser pple know, the longer the promotion will stay

 

[oceanicmanta]

in BOC IB, there is column for "Account Balance" & "Available Balance"

anyone knows if ADB is calculated based on former or latter ?

thanks

 

[more3cm]

in BOC IB, there is column for "Account Balance" & "Available Balance"

anyone knows if ADB is calculated based on former or latter ?

thanks

3. How is bonus interest calculated? What is Average Effective Balance?

Bonus interest is calculated based on the Average Effective Balance with a maximum limit of S$60,000. Average Effective Balance is calculated on a monthly basis as the summation of each day-end available balance for a month divided by the number of calendar days in that month.

 

[stsilverbullet73]

use debit last mth spend 1k still yet to receive debit spend interest...

 

[OngHuatHuat]

Let say I have 15 days of 0 balance and 15 days of 120000 sgd balance, it will be considered as 60000 sgd average effective balance, is my understanding correct?

3. How is bonus interest calculated? What is Average Effective Balance?

Bonus interest is calculated based on the Average Effective Balance with a maximum limit of S$60,000. Average Effective Balance is calculated on a monthly basis as the summation of each day-end available balance for a month divided by the number of calendar days in that month.

 

[frustrateddude]

Those with the mastercard debit, are we suppose to see anything under the "Debit Card Service" on the internet banking?

Mine is showing blank under the "Select Debit Card". Do I need to link the debit card to the internet banking?

yes
link up yourself thru ibanking

 

[frustrateddude]

use debit last mth spend 1k still yet to receive debit spend interest...

u r referring to the 1.55% interest? i got mine on 8 Jan .
btw u need spend $500 nia for max gain.

 

[Trazora]

use debit last mth spend 1k still yet to receive debit spend interest...

If you meant 0.1% rebate from using debit card, received on 1 Jan. If you meant 1.55% card spend bonus interest received on 8 Jan

 

[Trazora]

Let say I have 15 days of 0 balance and 15 days of 120000 sgd balance, it will be considered as 60000 sgd average effective balance, is my understanding correct?

Yup should be, assuming the account opened since start of the month.

 

[stsilverbullet73]

If you meant 0.1% rebate from using debit card, received on 1 Jan. If you meant 1.55% card spend bonus interest received on 8 Jan

thanks.. mine I yet to receive the 1.55%. above poster mentioned 500.. but the item 1k so I thought nvm so be it.. my dad a/c with credit already received but only debit like slower.. I better call n ask .

thanks guys

 

[Trazora]

thanks.. mine I yet to receive the 1.55%. above poster mentioned 500.. but the item 1k so I thought nvm so be it.. my dad a/c with credit already received but only debit like slower.. I better call n ask .

thanks guys

I spent debit only and got my 1.55% on 8 jan, together with other bonus interest

 

[hyperbole]

thanks.. mine I yet to receive the 1.55%. above poster mentioned 500.. but the item 1k so I thought nvm so be it.. my dad a/c with credit already received but only debit like slower.. I better call n ask .

thanks guys

Let us know how it turns out. Was planning to use debit card this month

 

[OngHuatHuat]

Debit card better benefits? How come all using debit cards now?

Let us know how it turns out. Was planning to use debit card this month

 

[Soul77]

yes
link up yourself thru ibanking

Thanks. For those didn't see the debit on the internet banking, go to the option "Debit card management", and link your debit card manually...

I went to the branch and the ppl there didn't even know their own function. Keep saying the debit card statement is on the saving statement...

 

[stsilverbullet73]

Debit card better benefits? How come all using debit cards now?

not better benefits, just some people e.g. housewife no income cannot use credit can only use debit for spending.

 

[linuskltan]

Let say I have 15 days of 0 balance and 15 days of 120000 sgd balance, it will be considered as 60000 sgd average effective balance, is my understanding correct?

Yup should be, assuming the account opened since start of the month.

I tried doing a rough calculation and found out that the interest is calculated daily, i.e. 10 days of $10k balance, another 10 days of $20k and last 10 days of $150k (average $60k) attracts 0.275% p.a. for the 10 x $10k, 0.35% p.a. for 10 x $20k and 0.40% p.a. for 10 x $50k, instead of 0.40% p.a. for 30 x $60k.

 

[oceanicmanta]

I tried doing a rough calculation and found out that the interest is calculated daily, i.e. 10 days of $10k balance, another 10 days of $20k and last 10 days of $150k (average $60k) attracts 0.275% p.a. for the 10 x $10k, 0.35% p.a. for 10 x $20k and 0.40% p.a. for 10 x $50k, instead of 0.40% p.a. for 30 x $60k.

May I ask if this is what actually happened to your account ?

 

[OngHuatHuat]

I mean the bonus interest. I know the base interest is daily average rate.

I tried doing a rough calculation and found out that the interest is calculated daily, i.e. 10 days of $10k balance, another 10 days of $20k and last 10 days of $150k (average $60k) attracts 0.275% p.a. for the 10 x $10k, 0.35% p.a. for 10 x $20k and 0.40% p.a. for 10 x $50k, instead of 0.40% p.a. for 30 x $60k.

 

[OngHuatHuat]

Bank of China got give limited edition Ang pow packet and normal Ang pow packet, remember to ask for it if you do any transaction with them.

 

[nicholaslee]

guys, how you make payment to amex and citibank cc?? I don't want to fall back on my ocbc 360