BOC SmartSaver

[autumm]

Hi Guys I'm super noob need advice on this, so based on their website:

With BOC SmartSaver, you can receive 2 types of interests every month.

1. Prevailing interests:

You earn prevailing interest on your account's day-end ledger balance.
Prevailing interest rate for MCS Account is based on tier basis. The more you deposit the higher interest rate you can earn.
Prevailing interest is accrued daily and will be credited into your BOC MCS account at the end of each month.

Prevailing Savings Interest Rate (SGD)
Below S$5,000 0.25%
S$5,000 and above 0.275%
S$20,000 and above 0.35%
S$50,000 and above 0.40%

So means if I simply deposit S$20,000, I can get 0.35% interest credited per month?

Means first month i get $70 (20,000 x 0.35%)....second month I get $70.245 (20,070 x 0.35%) etc...??

Thanks!

Interest is per annum. Take the 70/12 for per mth interest

 

[Eternit]

Interest is per annum. Take the 70/12 for per mth interest

Oh i see, thanks. Coz they say can get interest per month then the went on to put the percentage there so i thought can get that much per month

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[WindWaterWinter]

Oh i see, thanks. Coz they say can get interest per month then the went on to put the percentage there so i thought can get that much per month

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The percentage is per annum (p.a.). So have to divide by 12.

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[swathe]

Just done it

Damn boliao. You remote into Windows. Fundamentally it is still not native on your phone.

 

[streetguy28]

this seems to be the best savings account right now? any list of branches available?

 

[streetguy28]

their prevailing interest is very high!!! power

 

[cazfaith]

How to set SMS to notify u that interest is in? Can be done online or must go dw the bank?

 

[hyperbole]

How to set SMS to notify u that interest is in? Can be done online or must go dw the bank?

Supposedly can do at the debit card section on iBanking. But I always got error so i went to the branch

 

[streetguy28]

must I open to multi currency account to get all the attractive interest?

 

[Trazora]

must I open to multi currency account to get all the attractive interest?

Yes. The account can be used for sgd only also so no issue

 

[centauro75]

Hi, which Boc credit card is the best to use while trying to hit the $500 spending. Thanks.

 

[hyperbole]

bunch of outdated sms notifications just came in including the missing interest credit one.

 

[Patapon2]

If I pay $5 each to 2 dbs credit card and 1 citibank card. Does this constitute 3 bill payments to earn the 0.6%?

 

[sbs199]

yes 10 char

If I pay $5 each to 2 dbs credit card and 1 citibank card. Does this constitute 3 bill payments to earn the 0.6%?

 

[wisely98]

will like to check:

"Earn 1.55% p.a. when you spend at least S$500 across your BOC Credit Cards and/or Debit Cards"

Does that mean total spend across all my BOC credit cards - Shop & Family within calendar month of $500 qualifies for the 1.55%, i.e. spending of $200 with Shop and $300 with Family will qualify for 1.55%?

Also how do i check credit card spend before receiving the card statement?

Thanks

 

[harmony28]

Hi Folks,

Understand that Debit card transactions eligible for bonus interest are based on posting date (and not transaction date). Is there a way to establish posting date as internet banking only shows transactions dates.

Just wanted to check if the purchases i made on last 2 days of Jan will be posted this month or not?

Thanks

 

[HelmetBox]

Hi Folks,

Understand that Debit card transactions eligible for bonus interest are based on posting date (and not transaction date). Is there a way to establish posting date as internet banking only shows transactions dates.

Just wanted to check if the purchases i made on last 2 days of Jan will be posted this month or not?

Thanks

*wrong info deleted*

 

[hyperbole]

Debit card posting date is transaction date. The funds are deducted from your account immediately.

Funds are deducted from your "available balance" immediately, but posting date is days later.

You can check on ibanking. The date the deduction line appears is the posting date.

 

[HelmetBox]

Funds are deducted from your "available balance" immediately, but posting date is days later.

You can check on ibanking. The date the deduction line appears is the posting date.

I stand corrected, you are right, statement shows amount in holding and only truly deducted when posted.

 

[nicholaslee]

Can I ask anyone managed to find a way to pay Citibank and Amex cc? I realised even paying uob Amex also cannot..

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