Scb Seaver special

[Ahboy069]

Anyone has this sms ?

https://www.sc.com/sg/terms-and-conditions/esaver-exclusive-bonus-interest/

 

[lzydata]

Yes

https://forums.hardwarezone.com.sg/money-mind-210/standchart-esaver-5070862.html

 

[hwarzoner]

this look different as compare to normal esaver??

 

[Ahboy069]

this look different as compare to normal esaver??

Slightly higher like 1.35-1.45%

 

[tmkedmw]

This one special, only those who receive sms are invited to join.
Interest rate isn't that great though, 1.45% for $200k for the months of May 2018 to April 2019 (12 month duration and not the usual 2 month cycle).

scb also did this special invite thru' sms for year 2016 (also 12 month duration) and interest rate offered was higher at 1.6% or 1.68% if I recall correctly.

My old post link below:
https://forums.hardwarezone.com.sg/105816906-post892.html

 

[Squaredot]

Recd sms this afternoon. The interest rate is not attractive to me.
The previous one I participated had better rates at 1.68% for 12mths.

 

[martin]

Not clear how this works. Are we suppose to transfer fresh funds in and locked until april 2019. Or if i already have more than $100k in my esaver a/c, interest rate will be 1.45. There is no lock in. Can move the funds in and out, but whenever there is more than $100k, the 1.45 rate kicks in?

 

[htc_user]

Not clear how this works. Are we suppose to transfer fresh funds in and locked until april 2019. Or if i already have more than $100k in my esaver a/c, interest rate will be 1.45. There is no lock in. Can move the funds in and out, but whenever there is more than $100k, the 1.45 rate kicks in?

Anyone managed to clarify? No lock in right? Just need to fund at least 100K by 31 May? Then anytime more than 200K would enjoy 1.45% till April 2019. Can withdraw anytime? No need keep minimum and there is no other special requirement like incremental balance and reference month etc? Thanks.

 

[rrr2015]

i don't think lock-in was mentioned in T&C but to earn special bonus 1.2% interest, need to fulfill the following

you must have been invited to participate in the Promotion, having received the Invitation Notice from the Bank during the Promotion Period

you must have, or otherwise open, a Qualifying Account with the Bank, of which you are the main account holder

you must deposit fresh funds* into your Qualifying Account(s), such that the end-of-day deposit balance in your Qualifying Account(s) on 31 May 2018 meets the minimum threshold of S$100,000, where "fresh funds" means funds that do not originate from any existing account with the Bank or funds that are not withdrawn and re-deposited within 30 days of the Promotion Period

Four Qualifying Account(s) must be validly existing (i.e. must not be suspended, cancelled or terminated), in good standing, and conducted in a proper and satisfactory manner at all times, including the time of crediting of any Bonus Interest (as defined in Clause 4 below) to your Qualifying Account(s), as determined by the Bank in its sole and absolute discretion.

Not clear how this works. Are we suppose to transfer fresh funds in and locked until april 2019. Or if i already have more than $100k in my esaver a/c, interest rate will be 1.45. There is no lock in. Can move the funds in and out, but whenever there is more than $100k, the 1.45 rate kicks in?

another nice feature is if future bonus is higher, you will be earning this higher bonus interest as well
Notwithstanding Clause 4 above, in the event that the Bank offers to the Bank’s other customers holding Qualifying Account(s), a bonus interest rate higher than 1.20% p.a. (“Higher Bonus Interest Rate”) for any e$aver promotion held during the Bonus Interest Earning Period, your Bonus Interest for that month will be computed at such Higher Bonus Interest Rate, subject to these terms.

 

[Ahboy069]

i don't think lock-in was mentioned in T&C but to earn special bonus 1.2% interest, need to fulfill the following

you must have been invited to participate in the Promotion, having received the Invitation Notice from the Bank during the Promotion Period

you must have, or otherwise open, a Qualifying Account with the Bank, of which you are the main account holder

you must deposit fresh funds* into your Qualifying Account(s), such that the end-of-day deposit balance in your Qualifying Account(s) on 31 May 2018 meets the minimum threshold of S$100,000, where "fresh funds" means funds that do not originate from any existing account with the Bank or funds that are not withdrawn and re-deposited within 30 days of the Promotion Period

Four Qualifying Account(s) must be validly existing (i.e. must not be suspended, cancelled or terminated), in good standing, and conducted in a proper and satisfactory manner at all times, including the time of crediting of any Bonus Interest (as defined in Clause 4 below) to your Qualifying Account(s), as determined by the Bank in its sole and absolute discretion.


another nice feature is if future bonus is higher, you will be earning this higher bonus interest as well
Notwithstanding Clause 4 above, in the event that the Bank offers to the Bank’s other customers holding Qualifying Account(s), a bonus interest rate higher than 1.20% p.a. (“Higher Bonus Interest Rate”) for any e$aver promotion held during the Bonus Interest Earning Period, your Bonus Interest for that month will be computed at such Higher Bonus Interest Rate, subject to these terms.

Can put in the 100k on 31/5 n withdraw 1/6 n still qualify ?

 

[rrr2015]

you must deposit fresh funds* into your Qualifying Account(s), such that the end-of-day deposit balance in your Qualifying Account(s) on 31 May 2018 meets the minimum threshold of S$100,000, where "fresh funds" means funds that do not originate from any existing account with the Bank or funds that are not withdrawn and re-deposited within 30 days of the Promotion Period

i think it's quite clear, but if in doubt you can always call them up for clarify

but why would you want to withdraw? again better for you to call them to clear any doubts you have
In addition to Prevailing Interest, if you meet the eligibility criteria in Clause 2 above, you will also earn bonus interest of 1.20% p.a. ("Bonus Interest") on the first S$5,000,000 of the average daily balance (“ADB”) in your Qualifying Account, for a period of twelve (12) calendar months from 1 May 2018, that is, from 1 May 2018 to 30 April 2019 (“Bonus Interest Earning Period”), subject to the following:

Can put in the 100k on 31/5 n withdraw 1/6 n still qualify ?