Bonus$aver - the only account that gives you the highest interest rate in town from SCB

[devion]

pay tax is listed as excluded

 

[Belford]

pay tax is listed as excluded

Description would be Easy bill

 

[Listopad]

pay tax is listed as excluded

Only by way of easybill. Not the usual tax payment

 

[Listopad]

Anyone know if the salary credit , by way of FAST / PAYNOW will work ?

 

[ericcsn]

Anyone know if the salary credit , by way of FAST / PAYNOW will work ?

Yes. From the horse’s mouth.

 

[RedsYWNA]

For debit card spend, I wonder if topup to grab is included as eligible spend......

 

[koolkool]

Hi. Just to check this investment portion, in the T&C 'subscribe and settle trade'. I interpret this as as long as buy and settle the UT or shares, there is no need to hold on to the invested amt? Once in investment account can simply sell? If I do this means my cost this the commission amt. Anyone has previous experience to confirm my interpretation of this clause is correct?

 

[koolkool]

Only by way of easybill. Not the usual tax payment

Hi. This easybill for income tax payment, can this be applied to do recurring payment for income tax? Or must do this every month?

 

[ThreeSteps]

Hi. This easybill for income tax payment, can this be applied to do recurring payment for income tax? Or must do this every month?

Maybe refer to Card Spend under the t&cs:
https://www.sc.com/sg/terms-and-conditions/bonussaver-product-terms/

 

[ThreeSteps]

For debit card spend, I wonder if topup to grab is included as eligible spend......

Maybe refer to Card Spend under the t&cs:
https://www.sc.com/sg/terms-and-conditions/bonussaver-product-terms/

 

[ThreeSteps]

Hi. Just to check this investment portion, in the T&C 'subscribe and settle trade'. I interpret this as as long as buy and settle the UT or shares, there is no need to hold on to the invested amt? Once in investment account can simply sell? If I do this means my cost this the commission amt. Anyone has previous experience to confirm my interpretation of this clause is correct?

For this Bonus$aver bonus interest promo, you can buy and sell, no need to hold. But, perhaps it is advisable to sell in the following month after crossing over the first month-end instead of buy & sell all within the same month. Encountered some issue last year with bonus interest under the old promo when I buy & sell UT all within the same month – I suspect it could be due to the system, then they investigated & confirmed that I have bought.

Note that there is currently a separate “e$aver Bonus Interest” promo where the t&cs specify : “Your eligible Bonus Interest Rate is assessed based on your wealth holdings at the end of each calendar month during the promotion period.”

 

[reflecx]

Yes. From the horse’s mouth.

Will FAST from personal account work? What to put in the comments field to qualify as salary credit?

 

[ericcsn]

Will FAST from personal account work? What to put in the comments field to qualify as salary credit?

FWIW, I went 2 different Stanchart branches to ask this question given that it is written:

Regular inward credit of your monthly salary of no less than S$3,000 nett into your Bonus$aver Account by your employer through GIRO, PayNowNEW! or FASTNEW! with Purpose Code “SALA”

The answers were Yes from the ppl at these stanchart branches (ie put SALA in the comments and that it is acceptable when salary is deposited from your personal account). I did tell one that they will have some very upset ppl (complaining about them to the bank) if this turns out not to be true as my friends and I would have lost the interests from the $100k deposits that will be placed with Stanchart.

They tried but couldn't open an account for me on Sunday (1 June) , and resorted to putting up a manual (paper) form to let back end do it, but then called me yesterday to say they found out the issue (my account was dormant, which i couldnt understand why as i have one remaining account in it and regularly use my standchart prudential card), Anyway will need to go and sign up coming week.

For some reasons, a few of my colleagues couldnt also sign up on line for account opening to take advantage of the S198 SPDR Straits Times Index ETF. Note account opening at the branch instead of doing so on line will deprive you of this gift.

 

[arthur64]

After buying of Equities, the shares will be under SC custody or my cdp holding?

 

[sglandscape]

After buying of Equities, the shares will be under SC custody or my cdp holding?

Under SC custody

 

[arthur64]

Under SC custody

Many thanks. Do I have to hold the shares for 6 months after buying to enjoy the bonus rate for next 6 months or or I can buy now in June and dispose say in July?

 

[Jirachi]

$20k for 6 months bonus is $3,333 a month for DCA.

Can also just take profit on some and buy $20k worth on others ($40 fee each way @ 0.2%) to enjoy another 6 months of 2.5% ($1.25k value for $100k).

I am more curious if ETFs are included. The updated T&C currently states

It’s $20,000 in a single transaction for investment category.

 

[Jirachi]

The commissions paid to SC likely will zeroise the bonus interest you get for the investment category.

 

[arthur64]

It’s $20,000 in a single transaction for investment category.

Think it's not single trans.. cumulative within the month means today I buy 10k stocks and another 10k one week later will also qualify, not sure if my interpretation is correct..

 

[reflecx]

Is there still a BonusSaver credit card? Or only debit card left? Must charge the $1k to this DC, right?