How does SCB esaver extra interest promo work?

[jtsh55]

did anyone received ur bonus interests for the Nov 2012?

i just login into SCB ibanking but the bonus interests is still not yet credited into my e-saver account yet...

 

[haydentan]

did anyone received ur bonus interests for the Nov 2012?

i just login into SCB ibanking but the bonus interests is still not yet credited into my e-saver account yet...

Not in yet. The bonus interest will b credited soon. Normally is a few days after the first day of subsequent month

 

[jtsh55]

Not in yet. The bonus interest will b credited soon. Normally is a few days after the first day of subsequent month

oh i see cos i've just checked my e-saver account but the bonus interests is still in credit in yet.

 

[haydentan]

oh i see cos i've just checked my e-saver account but the bonus interests is still in credit in yet.

Is in today for my esaver

 

[jtsh55]

Is in today for my esaver

yeah it's in today but my bonus interests is lesser than my previous month whereas i had deposited more funds into my e-saver account. do u know why?

 

[haydentan]

yeah it's in today but my bonus interests is lesser than my previous month whereas i had deposited more funds into my e-saver account. do u know why?

The bonus interest is for on your incremental balances compared to Oct'12 from 1 Nov 12 to Jan 13. That explains why your bonus interest is lesser than the previous month as the interest is for the deposits you put in since Nov'12. Put in another way, if u did not top up this month, you won't even see any bonus interest.

 

[jtsh55]

The bonus interest is for on your incremental balances compared to Oct'12 from 1 Nov 12 to Jan 13. That explains why your bonus interest is lesser than the previous month as the interest is for the deposits you put in since Nov'12. Put in another way, if u did not top up this month, you won't even see any bonus interest.

sounds quite confusing cos i only topped up 4.5k in Oct and received 21.06 as bonus interests.

since i had topped up another 12k in Nov, shouldn't my bonus interests be higher than my Oct since i had topped up more incremental amount compared to Oct?

 

[haydentan]

sounds quite confusing cos i only topped up 4.5k in Oct and received 21.06 as bonus interests.

since i had topped up another 12k in Nov, shouldn't my bonus interests be higher than my Oct since i had topped up more incremental amount compared to Oct?

For Illustration:

Promo 1 started
Ave balance in jul 12:$50
Ave balance in aug 12: $550 (bonus interest will be on $500, incremental balance with reference to jul 12)
Ave balance in sep 12: $550 (bonus interest will be on $500, incremental balance with reference to jul 12)
Ave balance in oct 12: $5000(bonus interest will be on $4950, incremental balance with reference to jul 12)
Promo 1 ended

Promo 2 started
Ave balance in oct 12:$5000 (taken from the figure above)
Ave balance in nov 12: $12k(bonus interest will be on $7k, incremental balance with reference to oct 12)

In this case, what is ur average balance in jul 12? D u top up fresh funds in aug,sep12 besides the 4.5k in oct 12?
Oso ur $4k & $8k are only deposited on 5th nov and 22nd nov respectively, the bank will pro-rate the bonus interest

 

[jtsh55]

It depends on when the promo starts and when the base is used as the reference. This promotion starts in the month of nov 12 and your new base will the average of ur oct 12 balance.
What you received for oct 12 is the previous promo. The bonus interest credited in the month of Oct was taken with reference to your average balance in the month of July.

i see, so if i withdraw all my monies now & then re-deposit 2 weeks later. will these re-deposit monies can be counted as incremental deposit to qualify for the Dec bonus interests?

 

[haydentan]

i see, so if i withdraw all my monies now & then re-deposit 2 weeks later. will these re-deposit monies can be counted as incremental deposit to qualify for the Dec bonus interests?

I just edited my reply. From the illustrations, u will realize that withdrawal n deposit within the promo period doesn't help to earn u extra interest. It depends very much on the base they take as the reference. The only way is to withdraw n park ur fund elsewhere in the last mth of this promo which is jan 13 n hope that scb has the same promo in Feb 13. Then ur reference in the new promo is jan 13 with a zero balance, any amount in ur account in feb 13 will be taken to calculate for bonus interest.

 

[jtsh55]

I just edited my reply. From the illustrations, u will realize that withdrawal n deposit within the promo period doesn't help to earn u extra interest. It depends very much on the base they take as the reference. The only way is to withdraw n park ur fund elsewhere in the last mth of this promo which is jan 13 n hope that scb has the same promo in Feb 13. Then ur reference in the new promo is jan 13 with a zero balance, any amount in ur account in feb 13 will be taken to calculate for bonus interest.

For Illustration:

Promo 1 started
Ave balance in jul 12:$50
Ave balance in aug 12: $550 (bonus interest will be on $500, incremental balance with reference to jul 12)
Ave balance in sep 12: $550 (bonus interest will be on $500, incremental balance with reference to jul 12)
Ave balance in oct 12: $5000(bonus interest will be on $4950, incremental balance with reference to jul 12)
Promo 1 ended

Promo 2 started
Ave balance in oct 12:$5000 (taken from the figure above)
Ave balance in nov 12: $12k(bonus interest will be on $7k, incremental balance with reference to oct 12)

In this case, what is ur average balance in jul 12? D u top up fresh funds in aug,sep12 besides the 4.5k in oct 12?
Oso ur $4k & $8k are only deposited on 5th nov and 22nd nov respectively, the bank will pro-rate the bonus interest

i didn't keep track of my average balance in jul 2012.
right now i can only view my last 90 days transaction which is the max history view.

 

[haydentan]

i didn't keep track of my average balance in jul 2012.
right now i can only view my last 90 days transaction which is the max history view.

Now it makes sense to me why your bonus interest in nov 12 is lower than oct 12 even though u top up $12k. Notice ur bonus interest in sep 12? It means that ur balance in Sep is definitely higher than ur jul. otherwise, u won't get any bonus interest. If we ignore aug 12, there is an incremental amount of 24.5k for bonus interest calculation in oct 12. $21.06 is for monthly average incremental amount of around $26k.

Then the new promo has ur base set to oct average balance. Ur additional $12k is lesser than ur top-up between aug and oct. moreover, it is not a full month that u have the $12k in the account. Hope it solves ur question.

 

[jtsh55]

Now it makes sense to me why your bonus interest in nov 12 is lower than oct 12 even though u top up $12k. Notice ur bonus interest in sep 12? It means that ur balance in Sep is definitely higher than ur jul. otherwise, u won't get any bonus interest. If we ignore aug 12, there is an incremental amount of 24.5k for bonus interest calculation in oct 12. $21.06 is for monthly average incremental amount of around $26k.

Then the new promo has ur base set to oct average balance. Ur additional $12k is lesser than ur top-up between aug and oct. moreover, it is not a full month that u have the $12k in the account. Hope it solves ur question.

thanks for your patience & detailed explanation although i still couldn't catch half of the balls.

anyway to make it short & sweet, i just need to top up during Dec 2012 and Jan 2013 to enjoy the bonus interests right?

 

[HoGnix]

Now it makes sense to me why your bonus interest in nov 12 is lower than oct 12 even though u top up $12k. Notice ur bonus interest in sep 12? It means that ur balance in Sep is definitely higher than ur jul. otherwise, u won't get any bonus interest. If we ignore aug 12, there is an incremental amount of 24.5k for bonus interest calculation in oct 12. $21.06 is for monthly average incremental amount of around $26k.

Then the new promo has ur base set to oct average balance. Ur additional $12k is lesser than ur top-up between aug and oct. moreover, it is not a full month that u have the $12k in the account. Hope it solves ur question.

Some confusion:
Does the TD-Transfer ( internal own SBC acc) considered as a fresh found and can earn Bonus Interest?

 

[frustrateddude]

Some confusion:
Does the TD-Transfer ( internal own SBC acc) considered as a fresh found and can earn Bonus Interest?

By definition, no. From this example, it seems otherwise.

yeah it's in today but my bonus interests is lesser than my previous month whereas i had deposited more funds into my e-saver account. do u know why?

maybe u can ask SCB. Once u hv an explanation, update here again

Your Nov bonus interest of $4.60 is due to adb of Nov vs adb of Oct(about 5k-hence $4.6). What puzzles me is you have a Oct bonus interest of $21.06 (haydentan had tried to explain this but the logic seems "incorrect"-yet able to get this $21.06 based on a $26k adb. Oct bonus should be compared to Aug adb. (or July adb if u were given a SMS promotion)

 

[frustrateddude]

I just edited my reply. From the illustrations, u will realize that withdrawal n deposit within the promo period doesn't help to earn u extra interest. It depends very much on the base they take as the reference. The only way is to withdraw n park ur fund elsewhere in the last mth of this promo which is jan 13 n hope that scb has the same promo in Feb 13. Then ur reference in the new promo is jan 13 with a zero balance, any amount in ur account in feb 13 will be taken to calculate for bonus interest.

u should try out #12 instead

 

[bigfoot]

Will there be any promo for feb-April? Normally how do we find out?

 

[haydentan]

Will there be any promo for feb-April? Normally how do we find out?

U will receive a SMS on the first day when the promo starts, unless u opt out of their marketing

 

[bigfoot]

U will receive a SMS on the first day when the promo starts, unless u opt out of their marketing

Did anyone receive that SMS? I did not receive any. Is the promo still on?

 

[excalibur324]

wah i think this acct not reflecting what they promise leh.. less interest i get from 1 whole month of January than 3 days in December.

lidat i put cimb star saver better.