Standchart eSaver

[Mickey01]

I'm also one of them ... qualify for 1.75% in Aug and then move some out in Sep to RHB

 

[Mickey01]

actually RHB 3% bonus rate looks jaw dropping. But most will need musical chairs and participate only for 2 months. So it is (3% + 3%)/3 which is on average 2% p.a, which is comparable to EGA Premier/Jade promo. Of course the total EIR for RHB is attractive if you add base rate to the 2% average bonus rate

 

[vsvs24]

actually RHB 3% bonus rate looks jaw dropping. But most will need musical chairs and participate only for 2 months. So it is (3% + 3%)/3 which is on average 2% p.a, which is comparable to EGA Premier/Jade promo. Of course the total EIR for RHB is attractive if you add base rate to the 2% average bonus rate

RHB is higher. Just the bonus alone is equal to HSBC EGA if you can get the latest rate. Add the base, win hands down.

 

[maumu]

actually RHB 3% bonus rate looks jaw dropping. But most will need musical chairs and participate only for 2 months. So it is (3% + 3%)/3 which is on average 2% p.a, which is comparable to EGA Premier/Jade promo. Of course the total EIR for RHB is attractive if you add base rate to the 2% average bonus rate

move out on 1 Oct to another high yield account like EGA.. then move back on 1 Nov. it's still gonna earn something in October not sitting in RHB (you need incremental balance for Nov based on Oct).

 

[Mickey01]

move out on 1 Oct to another high yield account like EGA.. then move back on 1 Nov. it's still gonna earn something in October not sitting in RHB (you need incremental balance for Nov based on Oct).

that's for sure, since I have existing RHB and EGA accounts

 

[sohguanh]

RHB is higher. Just the bonus alone is equal to HSBC EGA if you can get the latest rate. Add the base, win hands down.

All is correct just the bonus interest credit is so far behind ppl may even forgot about it until someone in the forum informed. Then there is this reddevil reader talking about opportunity cost. That is the bonus interest come in late that monies can put elsewhere earn more interest if it come early say Oct can get bonus interest for Sep for e.g

 

[churnmaster]

All is correct just the bonus interest credit is so far behind ppl may even forgot about it until someone in the forum informed. Then there is this reddevil reader talking about opportunity cost. That is the bonus interest come in late that monies can put elsewhere earn more interest if it come early say Oct can get bonus interest for Sep for e.g

Are you missing him here ?

 

[iduncheckmail]

All is correct just the bonus interest credit is so far behind ppl may even forgot about it until someone in the forum informed. Then there is this reddevil reader talking about opportunity cost. That is the bonus interest come in late that monies can put elsewhere earn more interest if it come early say Oct can get bonus interest for Sep for e.g

the opportunity cost is minimal to negligible. Even if your interest is a few hundreds, 2-3% on that few hundreds for a few months, wont amount to alot. Dont even bother to calc.
Opportunity costs is only applicable wen there is lock-in of your base tens/hundreds thousands of funds. Which there is not.

 

[sohguanh]

the opportunity cost is minimal to negligible. Even if your interest is a few hundreds, 2-3% on that few hundreds for a few months, wont amount to alot. Dont even bother to calc.
Opportunity costs is only applicable wen there is lock-in of your base tens/hundreds thousands of funds. Which there is not.

Agree I am on same thinking as you but some readers like reddevil their brain are wired differently from us so I am surprised he did not come into this thread so maybe he think same as us haha

 

[saintgtril]

I'm priority with around 500k with them. I didn't get any invitations before.

Wah. Envy to the max.

 

[joesph]

cimb 10k more than $4


Read HWZ Forum Rules!

 

[Mickey01]

I'm one of them haha. moved in on 31 Aug (to qualify for the 1.8%) and then move out the next day because of RHB's surprise promo.

shouldn't have moved in actually, could have caught the 2.2% promo instead. anyway it's inconsequential for now since I'm rotating between RHB and EGA for now until November at least.

hopefully RHB will extend the promo after November or the rates will go higher by then for most banks.

actually contacting my RM to ask about my 2.2% did cross my mind. On second thoughts I gave up. It is like ownself create own troubles. what if the RM invite me for coffee and say this and that product can earn more than 2.2% p.a.

 

[oceanicmanta]

actually contacting my RM to ask about my 2.2% did cross my mind. On second thoughts I gave up. It is like ownself create own troubles. what if the RM invite me for coffee and say this and that product can earn more than 2.2% p.a.

my RM invited me to attend seminar with dinner service !

 

[maumu]

actually contacting my RM to ask about my 2.2% did cross my mind. On second thoughts I gave up. It is like ownself create own troubles. what if the RM invite me for coffee and say this and that product can earn more than 2.2% p.a.

you should try. ask whether can be upgraded to 2.2% or not if already joined 1.8%...

hold your ground if you know the RM is definitely trying to upsell other products.

 

[Mickey01]

you should try. ask whether can be upgraded to 2.2% or not if already joined 1.8%...

hold your ground if you know the RM is definitely trying to upsell other products.

mai lah ... later they locked the door until i sign above the dotted line then i die liao

 

[lasnoblur]

Didnt get the 1.8% invite and gotten this today.
But i already deposited some amount into 1 of my esaver accounts.
Wonder if it'll qualify if i do a musical chair into my 2nd esaver account

I received the 2.2% invite as well. Seemed like muscial chair with another esaver won't work according to tnc. I have not done anything yet.

 

[Devilsire]

I read the TNC and it stated something like if have more than 1 qualifying account, requires 100k above avg balance to activate the bonus on each account

 

[lasnoblur]

I read the TNC and it stated something like if have more than 1 qualifying account, requires 100k above avg balance to activate the bonus on each account

Based on deposit fresh funds^ into your Eligible Account(s), such that the end-of-day deposit balance on 30 September 2022 is at least S$100,000 higher than the end-of-day deposit balance on 31 August 2022.

esaver A: 1K (1 Aug to present)
esaver B: 101K (1 Aug to present)

2 possible actions:
1. transfer balance from B to A by 30 Sep. Worst possible outcome is that it doesnt work and 2 month esaver cycle is broken. Based on 100K balance, additional 0.7% interest to 1.5% current interest is 70 SGD. Probably not worth the risk.
2. transfer fresh fund 100K from external sources to esaver A would be better action. Only need to hold for a month.

 

[BTO_Brah]

Almost end-of-Sep. Can I shut down the e$aver account without any clawbacks or penalties Oct 1? Would prefer not to leave any in it.

 

[BTO_Brah]

Almost end-of-Sep. Can I shut down the e$aver account without any clawbacks or penalties Oct 1? Would prefer not to leave any in it.

Found the answer to this:

From:

https://www.sc.com/sg/help/faqs/accounts/#esaver