How does SCB esaver extra interest promo work?

[Sausage]

Past few months I got the extra annual bonus of 1.25% every month (around $37) for every $50000 in the account, but I noticed that august ended and it wasn't credited. My balance has remained at this amount all the way and I did not add anything over the past few months.

And yesterday they just sent out another sms saying you can get 1.25% on incremental balance compared to August 2012.

Does this mean that there is no way to get the full bonus interest for a whole year if you do not keep topping up a significant amount every few months everytime they send out this sms? Because it is based only on incremental balance?

 

[Soon__]

18007477000

 

[o0KelviN0o]

that's what i wanna know too...

i had extra interest in months i put in $$$, not $50000 though

 

[doody_]

The SMS is quite clear, latest promotion is for Sep to Oct. So if you top up your account with more money now, that amount will get the 1.25% interest for 2 months (Sep and Oct).

 

[Soon__]

So I guess the special interest only applies to the new money instead of all amount. :/

 

[Sausage]

wah if i had known i would have transferred all my $ out during august, then now september transfer back in. Didn't even know the promo was not in effect in august and I still topped up balance to maintain $50k during august to get bonus interest.

 

[haydentan]

The additional interest is on the amount that is more than the average of month of August only. Let's say if ur ave aug balance is $5000 n in sep u top up additional $100, u will earn 0.1% on the $5100 n 1% on the additional $100.

 

[Sausage]

still very puzzled

i didn't get any esaver bonus interest for august.
then in september i transfered a new $50000 into my esaver account to take advantage of their 1.2% interest bonus

now in october my bonussaver account got bonus interest already
but no bonus interest for esaver
only basic interest of $8.

anyone knows why?

 

[o0KelviN0o]

i also din get extra interest for my eSaver this month

anyway... dun care lah... afterall, $$$ in there is for rainy days

 

[haydentan]

Ya. I notice that the extra interest is still not credited for the mth of sept. I m quite definite that there is an increment since August. Who got the interest for September already? share here.

 

[haydentan]

Ya. I notice that the extra interest is still not credited for the mth of sept. I m quite definite that there is an increment since August. Who got the interest for September already? share here.

Checked today and the bonus interest is credited.

 

[frustrateddude]

There is a new promotion for Nov/Dec/Jan.
Standard Chartered Bank Singapore

For details on how to calculate the interest, refer:
Standard Chartered Bank Singapore

To summarise, u need to know the average daily balance(adb) of Oct12. (if u don, call the hotline to ask). U then compare w the adb of Nov12. If the adb of Nov12 is more than adb of Oct12, u get the bonus interest. Will repeat for adb of Dec12 (compared against adb of Oct12) and adb of Jan13(against adb of Oct12).

My writing this is how to get the full 1.1%/1.15%/1.25%. If u read the terms and conditions, u will get the full bonus interest if u r a new customer. Simple- apply online for a new one by logging into SCB internet banking.Transfer $1 to your new account.Then transfer more-note that fresh funds must be deposited- that means transfer funds in your 1st esaver out to another bank and then back to your 2nd esaver account. Do not go to branch to open another esaver.

 

[mrwirus]

There is a new promotion for Nov/Dec/Jan.
Standard Chartered Bank Singapore

For details on how to calculate the interest, refer:
Standard Chartered Bank Singapore

To summarise, u need to know the average daily balance(adb) of Oct12. (if u don, call the hotline to ask). U then compare w the adb of Nov12. If the adb of Nov12 is more than adb of Oct12, u get the bonus interest. Will repeat for adb of Dec12 (compared against adb of Oct12) and adb of Jan13(against adb of Oct12).

My writing this is how to get the full 1.1%/1.15%/1.25%. If u read the terms and conditions, u will get the full bonus interest if u r a new customer. Simple- apply online for a new one by logging into SCB internet banking.Transfer $1 to your new account.Then transfer more-note that fresh funds must be deposited- that means transfer funds in your 1st esaver out to another bank and then back to your 2nd esaver account. Do not go to branch to open another esaver.

if I have 2 accounts, xtrasavers and esaver, can I transfer the money out to another bank from my xtrasavers and deposit to esavers from that bank after that? Will my adb take into effect the money in xtrasavers?

 

[frustrateddude]

if I have 2 accounts, xtrasavers and esaver, can I transfer the money out to another bank from my xtrasavers and deposit to esavers from that bank after that? Will my adb take into effect the money in xtrasavers?

Yes to your 1st qn.

don really understand yr 2nd ? adb of each account (xtra vs esaver) stands alone. eg adb of $6k must be maintained for xtra so as to be able to "claim" $15 cashback (for 3k NETS spending)--- another eg -adb for Nov(for esaver) will be compared against adb for Oct to allocate the "extra" interest of 1.1/1.15/1.25%!

P.S: your "s" in xtrasavers = 2 xtrasaver account?!

 

[mrwirus]

Yes to your 1st qn.

don really understand yr 2nd ? adb of each account (xtra vs esaver) stands alone. eg adb of $6k must be maintained for xtra so as to be able to "claim" $15 cashback (for 3k NETS spending)--- another eg -adb for Nov(for esaver) will be compared against adb for Oct to allocate the "extra" interest of 1.1/1.15/1.25%!

P.S: your "s" in xtrasavers = 2 xtrasaver account?!

Wah.. so we can sort of 'play cheat' to the fresh funds condition? haha.. nono.. I got only 1.. Why have 2? I cannot even reach the cap for the rebates haha!

 

[monoblue]

I just called SCB to check out the e$aver account. The CSO told me that I can earn 1.1% interest for 3 months for account open from today. I'm not sure if he smoke me or just reading from the website...

So if I open a new e$aver account on 03/12/2012, and deposit 5k into it.

I can enjoy interest on the 5k for Dec, Jan and Feb...

But I read from the website the promo ends Jan 2013? So this means if I open a e$aver account within this promo period I will earn interest of 1.1% for 3 months starting from the day I open the account and any deposit amount.

Am I right?

* I understand the max is 1.25% but i dun have so much money lol...

 

[frustrateddude]

I just called SCB to check out the e$aver account. The CSO told me that I can earn 1.1% interest for 3 months for account open from today. I'm not sure if he smoke me or just reading from the website...

So if I open a new e$aver account on 03/12/2012, and deposit 5k into it.

I can enjoy interest on the 5k for Dec, Jan and Feb...

But I read from the website the promo ends Jan 2013? So this means if I open a e$aver account within this promo period I will earn interest of 1.1% for 3 months starting from the day I open the account and any deposit amount.

Am I right?

* I understand the max is 1.25% but i dun have so much money lol...

U r right to say promo ends Jan 2013.
So, if u were to open on 3/12, u will earn interest for Dec12 and Jan13.
What happens in Feb 2013 is yet to be "announced" by SCB.
Normally, they will hv another 3(or 2) month promo eg Feb/March/April - with adb of these months compared to that of Jan13. (the interest may fluctuate tho).
SCB may also choose to do nothing for Feb13 - paying only 0.1%/0.15%/0.25%.(just like Aug 12- this will be the time to "move" your $$$ to another better paying bank eg CIMB paying 0.8% pa).

Incidentally, SCB smsed me during Aug12 w a promo of 2% for that month.

 

[monoblue]

There is a new promotion for Nov/Dec/Jan.
Standard Chartered Bank Singapore

For details on how to calculate the interest, refer:
Standard Chartered Bank Singapore

To summarise, u need to know the average daily balance(adb) of Oct12. (if u don, call the hotline to ask). U then compare w the adb of Nov12. If the adb of Nov12 is more than adb of Oct12, u get the bonus interest. Will repeat for adb of Dec12 (compared against adb of Oct12) and adb of Jan13(against adb of Oct12).

My writing this is how to get the full 1.1%/1.15%/1.25%. If u read the terms and conditions, u will get the full bonus interest if u r a new customer. Simple- apply online for a new one by logging into SCB internet banking.Transfer $1 to your new account.Then transfer more-note that fresh funds must be deposited- that means transfer funds in your 1st esaver out to another bank and then back to your 2nd esaver account. Do not go to branch to open another esaver.

So this mean just follow this if Feb got new promo ?

 

[frustrateddude]

So this mean just follow this if Feb got new promo ?

Hope all the transfers do not daze u!

 

[monoblue]

Hope all the transfers do not daze u!

Thanks