Lastest S$ Deposit updates - Part 3

[Shalom_555]

Eh I was reading the T&C. You only need to hold it for 7 months as per T&C, not 10 months. But yes month 4 to 7 you will get shitty rates.

https://www.cimbpreferred.com.sg/content/dam/cimb-preferred/singapore/document/tncs-/welcome2026.pdf

Alert : if u are factoring in the preferred welcome gift. it is only for first 500 customers. We do not have visibility to whether 500 customers target has been achieved.

 

[JetStorm]

Alert : if u are factoring in the preferred welcome gift. it is only for first 500 customers. We do not have visibility to whether 500 customers target has been achieved.

theres $800 cash for 501 customer onwards too.

 

[JetStorm]

I have spare funds after fulfilling the 360 of 100k and finding ways to park so thinking how to maximize the 88 days 1.8%

So 360 has >100k? In that case I will play it safe and put to other accounts first. Next month then participate in the Feb 88 days promo.

 

[Sambuca78]

Are you new to banks like Stanchart or HSBC (or your last account with them closed for more than 12 months; credit card holders without banking with them will qualify). They have excellent welcome rewards for priority and premier customers.

HYSA - Stanchart Bonus$aver, DBS Multiplier, OCBC 360 even UOB 1.

HSBC EGA.

So far they havent charged me for the OCBC Statement Savings accounts (I have single and joint) and which have been kept at $0 for quite some time.

Hmmm... Anyone know if OCBC Monthly Saving account can participate in this 88days 1.8 promo? Thanks

 

[ericcsn]

Hmmm... Anyone know if OCBC Monthly Saving account can participate in this 88days 1.8 promo? Thanks

Doesn’t look like it.
Post in thread 'Lastest S$ Deposit updates - Part 3'
https://forums.hardwarezone.com.sg/threads/lastest-s-deposit-updates-part-3.5575909/post-158175764

 

[ericcsn]

Want 2.0% for your deposits (up to $50K) and with no frills?

Open a joint saving account with your kids (below age 18).
https://www.sc.com/sg/save/savings-accounts/firstsaver/

 

[Daffy7]

If my kid is still infant can?

 

[ericcsn]

If my kid is still infant can?

ELIGIBILITY​

• Nationality: Singapore citizen / Singapore permanent resident / foreigner residing in Singapore
• Age requirement:
  • Parents need to be 26 years old and above
  • Child needs to be below 18 years old

So yes (all other conditions stated above).

 

[Daffy7]

ELIGIBILITY​

• Nationality: Singapore citizen / Singapore permanent resident / foreigner residing in Singapore
• Age requirement:
  • Parents need to be 26 years old and above
  • Child needs to be below 18 years old

So yes (all other conditions stated above).

How they give consent?

 

[ericcsn]

How they give consent?

per following: https://av.sc.com/sg/content/docs/firstsaver_product_terms.pdf

1.1 The First$aver account is a savings account that is jointly held by you and your child or ward (“Child”). Both you and your Child will be joint account holders. Your Child must be under 18 years old at the time that you open the account. If your Child is 13 years old and above, we may, on your request, provide your Child with access to our mobile banking app and issue your Child a First$aver debit card, which is a Mastercard debit card linked to the First$aver account. The functionality of the mobile banking app and debit card for your Child will be simplified and limited.

You can apply on line and use your SINGPASS, and it will fill up your kids' personal details. Consents by your kids are not required in the applications.

 

[Alwaysb]

So 360 has >100k? In that case I will play it safe and put to other accounts first. Next month then participate in the Feb 88 days promo.

I am still confused over the 30 days before and after condition. Does it mean I cannot even have funds in/out in my 360 account before the earmark date? as 360 is my movement account

 

[Alwaysb]

was reading the T& C

An “Eligible Transaction” refers to the deposit of Fresh Funds (as defined below) of at least S$50,000 and up to a maximum
of S$3,000,000 into an Eligible Account and agreement of the Eligible Customer for OCBC to withhold the funds deposited
for a specific period determined by OCBC (“Earmark Period”). The amount of Fresh Funds deposit must also result in a
corresponding increase of at least S$50,000 when compared against the total balances of all other OCBC current and/or
savings accounts as of 30 days prior to the date of deposit.


Based on this, if I have 100K in my OCBC 360 and i withdrew it on 1 Jan, and deposited 200K on 2 Jan, i read as i can take part in this promo with 200K since it's still more than 50K above my total balance (100K) as of 30 days prior to the date of deposit.

Wondering if this is the case. Guess I would need to call OCBC to confirm . I hope it's not expecting me to deposit 300K to take part in a 200K promo since my total balance was 100K as of 30 days prior.

Appreciate you could share the info too after your call with OCBC. i am equally confused over the 360 account when i can have moving funds. My interpretation is that you should register your fund to be deposited on 31 Jan instead to qualify for the “ 30 days” before.

 

[JetStorm]

I am still confused over the 30 days before and after condition. Does it mean I cannot even have funds in/out in my 360 account before the earmark date? as 360 is my movement account

Doesnt matter. the t&c is very clear.

An “Eligible Transaction” refers to the deposit of Fresh Funds (as defined below) of at least S$50,000 and up to a maximum
of S$3,000,000 into an Eligible Account and agreement of the Eligible Customer for OCBC to withhold the funds deposited
for a specific period determined by OCBC (“Earmark Period”). The amount of Fresh Funds deposit must also result in a
corresponding increase of at least S$50,000 when compared against the total balances of all other OCBC current and/or
savings accounts as of 30 days prior to the date of deposit.

Your fresh funds must be at least 50k increment of all your ocbc accounts conpared to 30 days prior. You cant just switch your funds from 360 to eg statement account coz net balance is still same.

 

[tigertail]

An “Eligible Transaction” refers to the deposit of Fresh Funds (as defined below) of at least S$50,000 and up to a maximum of S$3,000,000 into an Eligible Account and agreement of the Eligible Customer for OCBC to withhold the funds deposited for a specific period determined by OCBC (“Earmark Period”). The amount of Fresh Funds deposit must also result in a corresponding increase of at least S$50,000 when compared against the total balances of all other OCBC current and/or savings accounts as of 30 days prior to the date of deposit.

Date doesn't need to on 31 Jan, any date within the validity dates will do (i recalled 88 days were against the date of enrollment of the deposit)

I used the Statement Savings Account for this purpose.

i had the same question too about funding on different days. according to faq, you have to "deposit at least the minimum amount of participating fresh funds before registering for the promotion. Otherwise, we will not be able to process the application you submitted via e-form."

the not so clear part in the registration form, you have to specify the top up amount and date of top up. is this referring to the initial top up amount?

e.g. if i want to top up $50k on 5 Jan, $80k on 11 Jan, $30k on 25 Jan and $50k on 31 Jan

do you register total of $210k on 31 Jan? or do you register $50k on 6 Jan after the first transfer?

 

[JetStorm]

i had the same question too about funding on different days. according to faq, you have to "deposit at least the minimum amount of participating fresh funds before registering for the promotion. Otherwise, we will not be able to process the application you submitted via e-form."

the not so clear part in the registration form, you have to specify the top up amount and date of top up. is this referring to the initial top up amount?

e.g. if i want to top up $50k on 5 Jan, $80k on 11 Jan, $30k on 25 Jan and $50k on 31 Jan

do you register total of $210k on 31 Jan? or do you register $50k on 6 Jan after the first transfer?

1) Deposit the fresh funds into the account BEFORE registering.
2) Depending on when you deposit... Eg Deposit from 01 Jan to 15 Jan, that 50k will be earmarked by 2 Feb 2026. From now to 02 Feb 2025, if your balance falls below 50k, you will not be eligible for the 1.8% promotion.

You never click the eform to see right? During registering they will ask what is the amount you are earmarking de. The website on OCBC statement account also have an examples on how they determine what is eligible and what is not eligible.

Just keep it easy and clean. If you want 210k to be earmarked, trf out 210k now then do 1 x lump sum transfer of 210K in fresh funds after 30 days from, then register.

 

[ericcsn]

i had the same question too about funding on different days. according to faq, you have to "deposit at least the minimum amount of participating fresh funds before registering for the promotion. Otherwise, we will not be able to process the application you submitted via e-form."

the not so clear part in the registration form, you have to specify the top up amount and date of top up. is this referring to the initial top up amount?

e.g. if i want to top up $50k on 5 Jan, $80k on 11 Jan, $30k on 25 Jan and $50k on 31 Jan

do you register total of $210k on 31 Jan? or do you register $50k on 6 Jan after the first transfer?

When you top up say $50k on 5 Jan, go in immediately to register on the day itself. The 88 days starts from the date of registration.

So you do multiple registrations each time you deposit into the account with min amount of $50k.

the maturity ie return of your funds will also be separate at the end of each 88 days.

finally move funds from a non Ocbc account to this eligible Ocbc account. (Don’t move money from non Ocbc account to any existing but ineligible Ocbc account (say Ocbc 360 account) and do an internal transfer to it.)

 

[vsvs24]

This thread is good for awareness. But deeper discussions should go to specific thread.

Can the discussion on OCBC be taken to OCBC thread. A bit of discussion is fine but it has been going on for days here.

 

[Pyroxene]

Hi guys - I have a question that is actually related to maxigain

To confirm my understanding: Let's say I receive my interest credit of $200 on 31 Dec 25. Transferring a sum of <= $200 out of my maxigain account, at any date within Jan 26, will not reset my counters. Assuming no other transactions within Jan 26.

Correct?

 

[banyan8]

What's DBS CASA promotion rate this month?

 

[digipet]

An “Eligible Transaction” refers to the deposit of Fresh Funds (as defined below) of at least S$50,000 and up to a maximum of S$3,000,000 into an Eligible Account and agreement of the Eligible Customer for OCBC to withhold the funds deposited for a specific period determined by OCBC (“Earmark Period”). The amount of Fresh Funds deposit must also result in a corresponding increase of at least S$50,000 when compared against the total balances of all other OCBC current and/or savings accounts as of 30 days prior to the date of deposit.

Date doesn't need to on 31 Jan, any date within the validity dates will do (i recalled 88 days were against the date of enrollment of the deposit)

I used the Statement Savings Account for this purpose.

First para, last sentence using their own 50k example writes 'The amount of Fresh Funds deposit must also result in a corresponding increase of at least S$50,000 when compared against the total balances of all other OCBC current and/or savings accounts as of 30 days prior to the date of deposit.'

Assuming i put in 100k fresh funds into a eligible account but i had also used this account to pay for insurance/bills. etc so i would fail the criteria of corresponding increase of at least 100k against total balances since I also used prior existing funds to pay my bills paid within 30 days?

called the cso but didn't get clarity and they mention we have to manually calculated ourselves prior.