Standchart eSaver

[Time-to-retire]

Need to create different currency accounts for storing and settling the shares purchase. Generally, SGD USD, Euro, HKD, & GBP. Open all even if not thinking of using in the short term.

 

[CaptainWu]

How does Online Trading work? If I open an eSaver account, does it automatically create stock brokerage account?
Or is there a separate process for online trading?

No its separated from eSaver. You need to open online Trading account and Settlement accounts under SCB for stock trading.

 

[hwarzoner]

Do i need to go down branch and do it to open for different currency account?

 

[Hulky8]

of cos not so, they still raise.. probability of next meeting hike 25bps raised to 90%; for 50bps below <30%. bonds curve not fully priced in all fed hikes.

Now with other banks FD around 4.2% I think Scb would want to retain its allure by at last upping its
all in interest to ,say,4.05%,,….Afterall the Fed isn’t done hiking it’s rates yet,probably by another 0.25% on 2nd Feb,,,,

 

[sohguanh]

Now with other banks FD around 4.2% I think Scb would want to retain its allure by at last upping its
all in interest to ,say,4.05%,,….Afterall the Fed isn’t done hiking it’s rates yet,probably by another 0.25% on 2nd Feb,,,,

Whatever the trend in Feb it is best to have a Plan B IMHO. Prepare for the worst case scenario although one hope it will not happen

 

[havetheveryfun]

Will surely be above 2.5%. SORA has stayed above 3.5% for several days in a row now and it looks to be stabilising at these elevated levels, most banks are unlikely to pay less than SORA for deposits.

3.5% above for next cycle ?

 

[heng_ah]

It really depends whether currently SCB has enough liquidity or not.
Otherwise they won’t give that kind of interest rate to attract more inflows

Now with other banks FD around 4.2% I think Scb would want to retain its allure by at last upping its
all in interest to ,say,4.05%,,….Afterall the Fed isn’t done hiking it’s rates yet,probably by another 0.25% on 2nd Feb,,,,

 

[havetheveryfun]

It really depends whether currently SCB has enough liquidity or not.
Otherwise they won’t give that kind of interest rate to attract more inflows

yeah but there would be outflows for this cycle if most people play eSaver game by the book.

E.g. if this Dec-Jan cycle attracted $1 billion of deposits. These ppl would not be getting any bonus interest in Feb-Mar and would look to put their $1 billion somewhere else. So there would be an outflow of deposits for the Dec-Jan cycle and they would need to attract a new batch of funds for the next cycle.

 

[vsvs24]

yeah but there would be outflows for this cycle if most people play eSaver game by the book.

E.g. if this Dec-Jan cycle attracted $1 billion of deposits. These ppl would not be getting any bonus interest in Feb-Mar and would look to put their $1 billion somewhere else. So there would be an outflow of deposits for the Dec-Jan cycle and they would need to attract a new batch of funds for the next cycle.

Well, there are people with more than one esaver. And there are the invites which no need to move out.

 

[GrandJedi]

SCB Home Loan fixed rate also going down so very unlikely the eSaver rate can raise further, keep at the same level is good already.

Waiting for new eSaver rate....

 

[marcho21]

Waiting for the magic question to appear.

"today 31st liao, when interest rate will credit?"

 

[hwarzoner]

Tomorrow morning interest Will be in, curious about the new rate for 1 feb

 

[havetheveryfun]

Tomorrow morning interest Will be in, curious about the new rate for 1 feb

Waiting for new eSaver rate....

normally got some ppl got insider news or estimates one leh..

 

[d5dude]

3.5% above for next cycle ?

Probably since SORA has remained unchanged since the short dip in late Dec. Anyway current cycle rate for invite only rate is 3.8% till May/June, so unlikely that public rates will be too far from this rate.

 

[F1ngolf2012]

Anyway current cycle rate for invite only rate is 3.8% till May/June, so unlikely that public rates will be too far from this rate.

My May ending eSaver invite is based on 3.8% or public rate whichever higher. So technically SCB needs not be concern with having public rate higher than current invite's rate.

 

[Mickey01]

Promo for Feb to Mar is out

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

The TnCs still being updated

 

[hwarzoner]

e$aver Bonus Interest (1 February 2023 to 31 March 2023) Promotion​

From now till 31 March 2023, earn up to 3.80% p.a. interest on eligible deposit balance of S$2 million with no lock-in period when you bring in incremental fresh funds* (compared to January 2023 average daily balance)

PREVAILING INTEREST RATE ON DEPOSIT BALANCE	BONUS INTEREST RATE ON ELIGIBLE INCREMENTAL BALANCE	TOTAL INTEREST RATE ON ELIGIBLE INCREMENTAL BALANCE
0.05% p.a.	3.75% p.a.	3.80% p.a.

 

[lzydata]

Bye bye eSaver for now

 

[bladez87]

Bye bye eSaver for now

Go where?

 

[havetheveryfun]

Go where?

guess t-bills and other fd which giving ~4%