Consolidated or split into multiple deposit account?

[sylves]

Hi, if you have the amount to be a premier customer.

Will you split into different bank account to enjoy their interest rate or consolidate to a premier account to enjoy the priviledge?

 

[BBCWatcher]

Will you split into different bank account to enjoy their interest rate or consolidate to a premier account to enjoy the priviledge?

What "privileges"?

 

[sylves]

What "privileges"?

For example higher interest rates if fulfill certain criteria and dedicated customer support ?

just wanna utd the general sentiments from the floor

 

[reddevil0728]

For example higher interest rates if fulfill certain criteria and dedicated customer support ?

just wanna utd the general sentiments from the floor

You can compute to see which one give best returns right?

 

[limster]

Hi, if you have the amount to be a premier customer.

Will you split into different bank account to enjoy their interest rate or consolidate to a premier account to enjoy the priviledge?

My OCBC and UOB balance is below the amount needed but they haven't removed the premier/privilege status... possibly because there is minimum benefit.

So you can put money in OCBC, apply premier, withdraw, put into UOB, apply privilege, then the money only needs to be in a bank where they insist that you don't fall below.

 

[sylves]

My OCBC and UOB balance is below the amount needed but they haven't removed the premier/privilege status... possibly because there is minimum benefit.

So you can put money in OCBC, apply premier, withdraw, put into UOB, apply privilege, then the money only needs to be in a bank where they insist that you don't fall below.

Sound like a plan. Now there’s perks from Singsaver to apply for premier account. Perform musical chair for it

 

[Mephist0pheLes]

For example higher interest rates if fulfill certain criteria and dedicated customer support ?

just wanna utd the general sentiments from the floor

does the dedicated customer support really value add? not counting canceling credit cards, i think i needed customer support no more than 3 times in the last 10 years.

 

[reddevil0728]

does the dedicated customer support really value add? not counting canceling credit cards, i think i needed customer support no more than 3 times in the last 10 years.

tbh for the most basic tier i think not much difference from retail.

the only time it might make a diff is if you give them enough business. then the RM service better...

 

[seowcc]

Hi, if you have the amount to be a premier customer.

Will you split into different bank account to enjoy their interest rate or consolidate to a premier account to enjoy the priviledge?

Unless you have million$ to deposit/invest, the extra % of interest won't amount to much.. Furthermore, the banks normally expect you to use their credit card, invest or take up mortgages to qualify for those extra % interest. The benefits of splitting savings into multiple bank is (1) $75K SDIC protection and (2) You can sign up for various banks' promotion quickly as an existing customer.

 

[sylves]

How about anyone who previously have OCBC, UOB and HSBC account and try to consolidate into 1 HSBC premier account to manage the funds better ?


This case, you can have best of both worlds of getting one of the better interest rates among banks with EGA bonus + customer service + new offer from new premier onboard

 

[reddevil0728]

How about anyone who previously have OCBC, UOB and HSBC account and try to consolidate into 1 HSBC premier account to manage the funds better ?


This case, you can have best of both worlds of getting one of the better interest rates among banks with EGA bonus + customer service + new offer from new premier onboard

sorry what are you trying to compare?

 

[sylves]

Comparing within these 2 scenarios:
For e.g:
100K in UOB ~4% interest
100K in OCBC ~3.8% interest
100K in HSBC ~ 3.7% interest + EGA 1% **

vs

300K HSBC premier account ~ 3.7% int + EGA 1%** + Premier offers


What will be the preferred route that most of you all go for?

 

[reddevil0728]

Comparing within these 2 scenarios:
For e.g:
100K in UOB ~4% interest
100K in OCBC ~3.8% interest
100K in HSBC ~ 3.7% interest + EGA 1% **

vs

300K HSBC premier account ~ 3.7% int + EGA 1%** + Premier offers


What will be the preferred route that most of you all go for?

will you be concern about no SDIC coverage?

 

[maumu]

honestly, I didn't quite get the privileges of being a privilege/priority customer. yes once in a while you get a courtesy call from the RM but... I didn't really require their services or recommendations.

would prefer to maximize interest across different banks/accounts instead.

 

[dork32]

Comparing within these 2 scenarios:
For e.g:
100K in UOB ~4% interest
100K in OCBC ~3.8% interest
100K in HSBC ~ 3.7% interest + EGA 1% **

vs

300K HSBC premier account ~ 3.7% int + EGA 1%** + Premier offers


What will be the preferred route that most of you all go for?

100k in uob gets you 5%.
100k in ocbc gets you 4.65%
now what is your preferred route?

 

[BBCWatcher]

honestly, I didn't quite get the privileges of being a privilege/priority customer. yes once in a while you get a courtesy call from the RM but... I didn't really require their services or recommendations.

Otherwise known as marketing calls. Yay?

 

[CrashWire]

Comparing within these 2 scenarios:
For e.g:
100K in UOB ~4% interest
100K in OCBC ~3.8% interest
100K in HSBC ~ 3.7% interest + EGA 1% **

vs

300K HSBC premier account ~ 3.7% int + EGA 1%** + Premier offers


What will be the preferred route that most of you all go for?

HSBC doesn't even have the bonus interest promo anymore. If you didn't enrol in previous months, I don't know why we are even having this discussion.