Standchart eSaver

[sohguanh]

The 2 savings account (HSBC and RHB) without frills need to wait long for the interest. As long as it comes just have to wait.

It is ok for me as I am still working but for some retirees or not working ppl maybe depend on such bonus interest for their monthly allowance then too bad eat porridge and bread for the time being while waiting.

 

[iduncheckmail]

It is ok for me as I am still working but for some retirees or not working ppl maybe depend on such bonus interest for their monthly allowance then too bad eat porridge and bread for the time being while waiting.

as long as the delay is consistent, after the first delay, every month thereafter will get the "delayed" effect.
so its inconsequential, except for the first delay

 

[vsvs24]

It is ok for me as I am still working but for some retirees or not working ppl maybe depend on such bonus interest for their monthly allowance then too bad eat porridge and bread for the time being while waiting.

Can always draw down from the savings account if needed.

 

[PC-User]

It is ok for me as I am still working but for some retirees or not working ppl maybe depend on such bonus interest for their monthly allowance then too bad eat porridge and bread for the time being while waiting.

You think people 全副身家 put into one bank meh? For me no amount of interest can make me do that. Earn lesser no problem, I rather diversify into multiple banks.

 

[hwarzoner]

My interest is about 2.3k for dec if not wrong, not much but can help defray monthly expenses.

 

[touchring1]

Based on the eSaver decade of historical promotion, the educated guess is the same promotion based on incremental fresh fund with Jan 2023 as reference month will continue.

The bonus interest rate may remain at current 3.75% or revised. Having another eSaver account with super low ADB for month of Jan 2023 will allow you to take full advantage of the promotion.

Thanks. Do you mean transfer the balance from one esaver to another esaver account? As in a family member's esaver account? So just transfer back and forth?

 

[F1ngolf2012]

Thanks. Do you mean transfer the balance from one esaver to another esaver account? As in a family member's esaver account? So just transfer back and forth?

Transfer from one eSaver to another bank and back to second eSaver account.

 

[direbmem]

You think people 全副身家 put into one bank meh? For me no amount of interest can make me do that. Earn lesser no problem, I rather diversify into multiple banks.

Yeah me 200k in RHB, the rest split in eSaver/OCBC/UOB.

 

[direbmem]

My interest is about 2.3k for dec if not wrong, not much but can help defray monthly expenses.

Nice that's like 600k+ in principal.

 

[touchring1]

Transfer from one eSaver to another bank and back to second eSaver account.

Like this also can? But for that month or at least that day, the interest should be lost right?

 

[sohguanh]

Like this also can? But for that month or at least that day, the interest should be lost right?

Becuz readers have tested the system when it is 0 SCB do not deduct fall below fee so the other account no lose out anything for the month it sit there wth 0

 

[F1ngolf2012]

Like this also can? But for that month or at least that day, the interest should be lost right?

There should not be any interest loss as long as the first day of the promotion cycle is not a Sunday/public holiday and the amount is not more than the daily limit of 200k. e.g. current promo cycle ends 31 Jan 2023. Just transfer out on 1 Feb 2023 (Wednesday) to another bank and back to another eSaver on the same day.

 

[F1ngolf2012]

Becuz readers have tested the system when it is 0 SCB do not deduct fall below fee so the other account no lose out anything for the month it sit there wth 0

My rule of thumb is not to have 0 balance in any bank account that is tagged to a promotion if you don't want to have a rude surprise.

 

[F1ngolf2012]

Nice that's like 600k+ in principal.

Shouldn't it be $726k+?

 

[touchring1]

Yeah me 200k in RHB, the rest split in eSaver/OCBC/UOB.

Isn't 200k in RHB a bit risky? Wah, I just took a look at their website, for 200k, it's like over 5% until 28 Feb 2023?

 

[direbmem]

Isn't 200k in RHB a bit risky? Wah, I just took a look at their website, for 200k, it's like over 5% until 28 Feb 2023?

Ya but can fast out whole 200k anytime immediately if hear any bad news. Risk of 125k la, but limited risk still. Many other bigger sharks here have all in RHB.

 

[havetheveryfun]

My interest is about 2.3k for dec if not wrong, not much but can help defray monthly expenses.

2.3k called not much ? is more than an ITE or poly fresh grad pay already

 

[d5dude]

Isn't 200k in RHB a bit risky? Wah, I just took a look at their website, for 200k, it's like over 5% until 28 Feb 2023?

Its certainly riskier, but I think the perception of this risk is much higher than actual risk. IOW this is a confidence issue, not an actual balance sheet or an issue about fundamentals.

 

[gnooliew]

Its certainly riskier, but I think the perception of this risk is much higher than actual risk. IOW this is a confidence issue, not an actual balance sheet or an issue about fundamentals.

I put more way more than 200k in RHB for the promo... personal risk appetite la, whatever one is comfortable with. In SG, risk of bank default or bank run is low.

 

[vsvs24]

There should not be any interest loss as long as the first day of the promotion cycle is not a Sunday/public holiday and the amount is not more than the daily limit of 200k. e.g. current promo cycle ends 31 Jan 2023. Just transfer out on 1 Feb 2023 (Wednesday) to another bank and back to another eSaver on the same day.

Std Chart has a cutoff time. Transfer after that time is counted as next working day value date.

Can't remember the cutoff time.