Standchart eSaver

[havetheveryfun]

Protips: For those who have 2 esaver accounts, there is no need to transfer out of SCB. I have been transferring between two accounts once every 2 month and earn the interests every month.

be careful of the risk though, some say that they have the right to claw back the interest given out this way

 

[Imhthc]

not true, during covid times got a period where the promo completely stopped

True but I also remembered they paid 0.5% interest which is still the highest among banks paying for a normal vanilla saving acct

 

[Imhthc]

e$aver Bonus Interest (1 December 2023 to 31 January 2024) Promotion Terms and Conditions

1. This e$aver Bonus Interest (1 December 2023 to 31 January 2024) Promotion ("Promotion") is available from 1 December 2023 to 31 January 2024 (both dates inclusive) ("Promotion Period") and is open to all account holders of existing and newly opened e$aver, e$aver Kids! and World Partner Savings account(s) ("Qualifying Account(s)") with Standard Chartered Bank (Singapore) Limited ("Standard Chartered" or the "Bank"). By participating in this Promotion, you agree to be bound by these terms.

Prevailing Interest Rate on Deposit Balance Bonus Interest Rate on eligible Incremental Balance Total Interest Rate on eligible Incremental Balance 0.05% p.a. 3.55% p.a. 3.60% p.a.


nice 3.6% money still with scb lol

I reckoned u have more than one bank acct with scb. Otherwise, not considered as incremental balance ah.

 

[royalmix]

My invite interest rate(3.55%) that ends on 31st Jan is lower than the non-invite interest rate.

I never get invited, but I remembered reading a clause that say you will get the higher public rate if invite is lower!

 

[bigfoot]

not true, during covid times got a period where the promo completely stopped

Not sure about that cos I have been collecting my interest monthly without fail.

 

[BlackTortoise]

if my account is zero for a few months, then now i dump in $200,000, will I kena the fall below fees for the past few months of zero balance?

 

[klarklar]

It says fresh funds are funds that do not originate from any existing accounts with the Bank. Having 2 SCB accounts and doing internal transfers should not enjoy the 3.6% according to the terms and conditions.
The bank may give you now but they can decide not to anytime. It's within their legal rights.

 

[klarklar]

Protips: For those who have 2 esaver accounts, there is no need to transfer out of SCB. I have been transferring between two accounts once every 2 month and earn the interests every month.

Be careful. The bank can decide not to give you the extra interest because it doesn't count as fresh funds according to the terms and conditions. According to the contract, they have the legal right not to give you the extra interest rate
https://forums.hardwarezone.com.sg/threads/standchart-esaver.5070862/page-294#post-150363104

 

[Devilsire]

It says fresh funds are funds that do not originate from any existing accounts with the Bank. Having 2 SCB accounts and doing internal transfers should not enjoy the 3.6% according to the terms and conditions.
The bank may give you now but they can decide not to anytime. It's within their legal rights.

Its also within their legal rights to track all your SCB acounts balance for any withdrawal(s) & redeposit within 30days, so yeap

Would i have to uninvite myself or is there some way to revert to public promo lol

dont worry there's a clause where public rate, if higher, shall override

 

[HoGnix]

Protips: For those who have 2 esaver accounts, there is no need to transfer out of SCB. I have been transferring between two accounts once every 2 month and earn the interests every month.

Do you leave $1000 behind? I am afraid if I transferred out fully, then they have the reason to close this e$aver account.

 

[Imhthc]

Do you leave $1000 behind? I am afraid if I transferred out fully, then they have the reason to close this e$aver account.

If u r a scb priority banking customer, there is no need to leave $1000 behind. Leaving it with a few cents for 2 months is alright. Tested.

 

[havetheveryfun]

Be careful. The bank can decide not to give you the extra interest because it doesn't count as fresh funds according to the terms and conditions. According to the contract, they have the legal right not to give you the extra interest rate
https://forums.hardwarezone.com.sg/threads/standchart-esaver.5070862/page-294#post-150363104

nv give still nvm, is dk if they can claw back the interest they given out if not according to t n c.
thats why shld not say much abt this loophole if u are using it urself.. to have lesser attention

 

[bigfoot]

nv give still nvm, is dk if they can claw back the interest they given out if not according to t n c.
thats why shld not say much abt this loophole if u are using it urself.. to have lesser attention

yes you are right. Better to move all out and then move in. Just make sure different amount. If they asked for proof it’s a fresh fund do remember to attach bank statement. been there done that.

 

[klarklar]

nv give still nvm, is dk if they can claw back the interest they given out if not according to t n c.
thats why shld not say much abt this loophole if u are using it urself.. to have lesser attention

Yes. Safest way is to follow the contract. if contract says cannot, means cannot.

 

[sglandscape]

I'm on the invite and i got my interest today.

i hold more than a million in scb, does that makes a difference ?

Nah you won't have gotten the full 3.7%

The interest paid so far is the nornal esaver promo, the top up amount paid on 20th

 

[havetheveryfun]

yes you are right. Better to move all out and then move in. Just make sure different amount. If they asked for proof it’s a fresh fund do remember to attach bank statement. been there done that.

move out n move in also not considered as fresh funds actually per their terms

 

[royalmix]

There is no need to continue the debate. Why? Do you trust what other people say, tnc, real experience or RM? Do you want or need to take risk? Then act accordingly.

 

[Imhthc]

I just received this sms. Interestingly, I used to see the last few digits of my acct number in the sms to deposit and enjoy the promotional rate, but not this time. Generally the acct they stated was the one which I withdrew the fund out. (I had 2 esaver Accts with them). Does that mean I will enjoy this interest rate if I top up my initial empty 2nd acct with min $100k?

<ADV> Exclusively for you: Don't miss out on up to 3.80% p.a. interest (capped at S$5mil) from now till 30 Apr 2024, when you top up your e$aver account with a minimum of S$100K in fresh funds by 31 December 2023. Visit our bank's website and search keyword #d23 to view the full T&Cs. Insured up to S$75K by SDIC. To unsub, log onto SC Mobile or Online Banking: Select "Other Request" under Help & Services.

 

[bigfoot]

move out n move in also not considered as fresh funds actually per their terms

That’s right. That’s why don’t waste time moving out and in.

 

[HoGnix]

There is no need to continue the debate. Why? Do you trust what other people say, tnc, real experience or RM? Do you want or need to take risk? Then act accordingly.

T&C is just a excuse to send a signal to MAS or other Banks, fresh or no fresh fund: is there any difference to the bank for it to use these collected money?