Standchart eSaver

[Imhthc]

Wow, 0.01% pa... never thought I had the chance to see such a low interest rate ....

I dun see 0.01% for esaver and it is not stated in the link. Did I miss out something here?

 

[lzydata]

I dun see 0.01% for esaver and it is not stated in the link. Did I miss out something here?

Nope, for eSaver the rate is still 0.05% pa. The reduction to 0.01% pa is for other accounts. But I guess Stanchart may cut the eSaver's rate eventually too.

https://www.sc.com/sg/save/savings-accounts/esaver/

 

[Imhthc]

Nope, for eSaver the rate is still 0.05% pa. The reduction to 0.01% pa is for other accounts. But I guess Stanchart may cut the eSaver's rate eventually too.

https://www.sc.com/sg/save/savings-accounts/esaver/

Ok. That makes sense. Esaver is an account with no full bank services. My take is they might not cut it to that Low eventually.

 

[Squaredot]

Will SC auto close my account if I have zero inside?Still need to pay $5 service fees?Only one eSaver account with them

my account zero balance for a year stays open. No charges.

 

[arctician]

Wow, 0.01% pa... never thought I had the chance to see such a low interest rate ....

Nope, for eSaver the rate is still 0.05% pa. The reduction to 0.01% pa is for other accounts. But I guess Stanchart may cut the eSaver's rate eventually too.

https://www.sc.com/sg/save/savings-accounts/esaver/

this is epic i was expecting 0.3% PA for esaver, since i set it up in mid of 2000 i have never see such low (or practically nothing) for esavers before

 

[reddevil0728]

this is epic i was expecting 0.3% PA for esaver, since i set it up in mid of 2000 i have never see such low (or practically nothing) for esavers before

Now is pandemic leh

 

[arctician]

Now is pandemic leh

over liao, look at the recent property sales all record high PSF with good volume, like midtown modern 28xx PSF 50% sold over 1 weekend

Pandemic only exist in MM

 

[reddevil0728]

over liao, look at the recent property sales all record high PSF with good volume, like midtown modern 28xx PSF 50% sold over 1 weekend

Pandemic only exist in MM

But feds rate still low. At least for short term

 

[arctician]

But feds rate still low. At least for short term

yea so when costs of borrowing and deposit rates are low, we have no other choice but to switch to higher yielding assets. Even during lehman crisis when US int rates were at zero, i dont remember esaver offering zero. This is really bad for savers

 

[beautyseek]

over liao, look at the recent property sales all record high PSF with good volume, like midtown modern 28xx PSF 50% sold over 1 weekend

Pandemic only exist in MM

May be becos int rts low so people leverage to buy the assets...problem is a big disconnect between asset prices and real economy. Asset prices are kept high to protect wealth and pple behave as if no pandemic no crisis...

 

[chrisloh65]

Your "short term" is how short?
I guess fed rate will stay low for next 3 years!

But feds rate still low. At least for short term

 

[arctician]

Your "short term" is how short?
I guess fed rate will stay low for next 3 years!

dbs offering 5 year fixed mortgage loan for 1.5%, so i think next 4-5years very hard to get high yield

 

[reddevil0728]

yea so when costs of borrowing and deposit rates are low, we have no other choice but to switch to higher yielding assets. Even during lehman crisis when US int rates were at zero, i dont remember esaver offering zero. This is really bad for savers

Cause different era

 

[reddevil0728]

Your "short term" is how short?
I guess fed rate will stay low for next 3 years!

Depends lor

 

[havetheveryfun]

Seems like esaver is back this month.. Too many ppl shifting money out of scb already!?

 

[demoforce1]

Seems like esaver is back this month.. Too many ppl shifting money out of scb already!?

0.5% only

 

[maumu]

0.5% only

0.5% is actually not that bad in this climate considering banks rates are 0.05% (10x lesser).

and also all the popular products are also 1% or <1% nowadays (vanilla ones).

 

[Squaredot]

0.5% is actually not that bad in this climate considering banks rates are 0.05% (10x lesser).

and also all the popular products are also 1% or <1% nowadays (vanilla ones).

yea, and no tier rates now so it's better for small deposits ... all 0.5%

https://www.sc.com/sg/save/savings-accounts/esaver/

 

[maumu]

yea, and no tier rates now so it's better for small deposits ... all 0.5%

https://www.sc.com/sg/save/savings-accounts/esaver/

wondering if it is the start of a new climb of rates for such accounts? suddenly it's alive again lol... let's see if maybank/CIMB can follow.

 

[lasnoblur]

did not shifted any funds from other accounts past few months due to low interest rates across all banks.

shifted funds back today with esaver interest active again.