MARI invest

[Jorgensen]

The maximum deposit is 100K.
https://www.maribank.sg/fees-rates/mari-savings-account

So does it mean once you try deposit $100001, it allow only 100k deposited and reject the $1?

 

[Hotsnow]

I tried to exceed the 100k and got rejected.
Eg 95k inside saving and when try to top up 20k it got rejected. So if you from zero balance and if you top up 101k, it will be rejected.

 

[kitaeshi]

Mari invest % is not true, if U notice every week there are two days no interests, Fri sat sun no interests, then Mon give u 2 days of interests, so one week only 5 days have interest.. one mth 8 days no interests, 8/30 =26% gone... 74%*2.74=2.03% per annual interest rate.

 

[wutawa]

Mari invest % is not true, if U notice every week there are two days no interests, Fri sat sun no interests, then Mon give u 2 days of interests, so one week only 5 days have interest.. one mth 8 days no interests, 8/30 =26% gone... 74%*2.74=2.03% per annual interest rate.

But the 2.74% already accounted for the days with no return.

 

[alanchia67]

Mari invest % is not true, if U notice every week there are two days no interests, Fri sat sun no interests, then Mon give u 2 days of interests, so one week only 5 days have interest.. one mth 8 days no interests, 8/30 =26% gone... 74%*2.74=2.03% per annual interest rate.

Are you refering to SavePlus?
The Past 4-week Return = (Unit Price Today / Unit Price 4 weeks ago) * 365/28 - 1

 

[white_prince]

Savings Acct interest adjusting to 1.88%

 

[nasilemak100]

Savings Acct interest adjusting to 1.88%

wtf for real ???

 

[sglandscape]

Savings Acct interest adjusting to 1.88%

Yes leaving a super bad taste in mouth, took part in the 3.5% until June, with this cut means half of June would not get 3.5%.

Very dirty bait and switch tactic. Disgusting product team they have.

Edit: I take my words back, they said still 3.5% and the revised tnc pays a higher cash amount. All is OK.

 

[kitaeshi]

Are you refering to SavePlus?
The Past 4-week Return = (Unit Price Today / Unit Price 4 weeks ago) * 365/28 - 1

Yes it's save plus

 

[kitaeshi]

But the 2.74% already accounted for the days with no return.

U go check how many times U get in one week. On some week got 3 days no interests

 

[ericcsn]

Yes leaving a super bad taste in mouth, took part in the 3.5% until June, with this cut means half of June would not get 3.5%.

Very dirty bait and switch tactic. Disgusting product team they have.

It doesn’t affect the 3.5% which is called a boost the balance.

And it does not come as a surprise because from the original “boost your balance” notice, it actually has given all these details as well as on every other occasion when a note was sent on this promotion:

“
The interest rate of 3.50% p.a. includes the base interest rate of 2.28% p.a. and promotional bonus interest rate of 1.22% p.a. until 15 Jun 2025 and revised base interest rate of 1.88% p.a. and promotional bonus interest rate of 1.62%
p.a. from 16 Jun 2025 onwards.”

 

[sglandscape]

Yes leaving a super bad taste in mouth, took part in the 3.5% until June, with this cut means half of June would not get 3.5%.

Very dirty bait and switch tactic. Disgusting product team they have.

I take my words back, they said still 3.5% and the revised tnc pays a higher cash amount. All is OK.

 

[nasilemak100]

Savings Acct interest adjusting to 1.88%

i think they are competing with GXS and trust bank to see who can drop to the lowest.

both GXS and trust bank also dropping again

 

[sglandscape]

i think they are competing with GXS and trust bank to see who can drop to the lowest.

both GXS and trust bank also dropping again

GXS just dropped can't be drop again so quickly?

 

[sglandscape]

It doesn’t affect the 3.5% which is called a boost the balance.

And it does not come as a surprise because from the original “boost your balance” notice, it actually has given all these details as well as on every other occasion when a note was sent on this promotion:

“
The interest rate of 3.50% p.a. includes the base interest rate of 2.28% p.a. and promotional bonus interest rate of 1.22% p.a. until 15 Jun 2025 and revised base interest rate of 1.88% p.a. and promotional bonus interest rate of 1.62%
p.a. from 16 Jun 2025 onwards.”

While your conclusion is correct, the tnc initially was not clear that the 3.5% was locked in for the entire period. They had to revise the tnc to cater for this special case.

Maribank could have let you earn lower interest for the 15 days in June so that you do not get your full 3.5%.

 

[white_prince]

U go check how many times U get in one week. On some week got 3 days no interests

Coming monday x2

 

[wutawa]

Coming monday x2

No pt telling him. He does not understand what "unit price 4 wks ago" means and expect saveplus to give returns daily like maribank savings.

 

[CrashWire]

GXS just dropped can't be drop again so quickly?

The digibanks will drop interest ASAP if they can't tank the difference. At most 1 month's notice.

GXS didn't even follow 1 month's notice last time when they cut from their highest 3.68%.

 

[kitaeshi]

10-13th this mth zero n 14th give 2 times so 2 days no money.

 

[yiron]

I take my words back, they said still 3.5% and the revised tnc pays a higher cash amount. All is OK.

Was initially disappointed with the nerf hitting the promo period then somewhat impressed that Mari retrospectively revised the bonus interest upwards to maintain the previously advertised 3.5%.