Standchart eSaver

[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?

 

[bigfoot]

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.

I don’t know why but I have never receive such offer.

 

[royalmix]

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?

Basically, the bank wants you to bring in more funds, so use interest rates to attract you. How to know you bring in more funds? That's their method for you to know!

 

[bigfoot]

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?

Yes. Fresh means what? I showed them statement the flow of my money? My inheritance? Anyway do whichever you want. As long as you get the interest no need to lose sleep.

 

[Imhthc]

I don’t know why but I have never receive such offer.

The bank knows you are their loyal customer. Lol.

 

[cherry6]

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.

Haha, SCB really quite 'con job'. Bankers r just so low down.

All those argue if they claw back for those with 2 esaver acc and ping pong the money every 2mths.

The real purpose of the incremental balance is to 'con' the old folks who r sick etc.

So if u forget to move the savings after 2 mths, they pay u 0.05%, this is highly profitable for the bank and even if they pay u 3.6% or whatever, they probaby can get somewhat more investing in some govt debt and last I heard, SG T-bills is 3.86%, so the bank still makes easy profit.

Why offend customer by imposing the fresh funds clause when the fact that the funds moved, means any offended customer (esp retiree with infinite time) will then boycott the bank or even cause trouble for the RM etc, by baiting the bank to call them then issue barrage of complaints, 'harass' the bank staff, nit pick, bad mouth, petition boycott etc on social media when as already stated, even paying out the max esaver interest, bank still makes profit buying treasury bills etc.

Imagine that same guy makes it a point to tell all his friends how scummy the actual esaver interest payment is and remind them to auto set transfer out the money every 2 months or even start a public campaign to remind all customers to withdraw from esaver at the end of the month.

Then SCB totally cannot earn the astronomical interest payments from those senile or forgetful people.

I don't think SCB will wanna rock the boat much.

And the silly 3.8% (0.1% bonus over the publish dec-jan2024 fresh funds rate) if u don't withdraw from that account. Unless u top up a very very substantial amount, probably transfer out, round trip etc. is the best thing to do.

 

[HoGnix]

Yes. Fresh means what? I showed them statement the flow of my money? My inheritance? Anyway do whichever you want. As long as you get the interest no need to lose sleep.

Put T&C is basically not to spoil the market. since now ceepeef oa still 2.5%.

 

[havetheveryfun]

Haha, SCB really quite 'con job'. Bankers r just so low down.

All those argue if they claw back for those with 2 esaver acc and ping pong the money every 2mths.

The real purpose of the incremental balance is to 'con' the old folks who r sick etc.

So if u forget to move the savings after 2 mths, they pay u 0.05%, this is highly profitable for the bank and even if they pay u 3.6% or whatever, they probaby can get somewhat more investing in some govt debt and last I heard, SG T-bills is 3.86%, so the bank still makes easy profit.

Why offend customer by imposing the fresh funds clause when the fact that the funds moved, means any offended customer (esp retiree with infinite time) will then boycott the bank or even cause trouble for the RM etc, by baiting the bank to call them then issue barrage of complaints, 'harass' the bank staff, nit pick, bad mouth, petition boycott etc on social media when as already stated, even paying out the max esaver interest, bank still makes profit buying treasury bills etc.

Imagine that same guy makes it a point to tell all his friends how scummy the actual esaver interest payment is and remind them to auto set transfer out the money every 2 months or even start a public campaign to remind all customers to withdraw from esaver at the end of the month.

Then SCB totally cannot earn the astronomical interest payments from those senile or forgetful people.

I don't think SCB will wanna rock the boat much.

And the silly 3.8% (0.1% bonus over the publish dec-jan2024 fresh funds rate) if u don't withdraw from that account. Unless u top up a very very substantial amount, probably transfer out, round trip etc. is the best thing to do.

i am just pointing out the risk to whoever wants to try it.

personally i do it myself and am also aware of the risks and can stomach it. but some ppl cant n then when something happen they come back here kbkp n blame u for suggesting such thing.

also it is not easy for ppl to try this now, in the past it was easy to set up 2 esaver acc under same name but now seems harder or not possible. unless u can use 1 individual acc n 1 joint acc.

 

[DevilPlate]

i am just pointing out the risk to whoever wants to try it.

personally i do it myself and am also aware of the risks and can stomach it. but some ppl cant n then when something happen they come back here kbkp n blame u for suggesting such thing.

also it is not easy for ppl to try this now, in the past it was easy to set up 2 esaver acc under same name but now seems harder or not possible. unless u can use 1 individual acc n 1 joint acc.

Yes i tried applying 2nd esaver acct online and system said i already have 1 esaver acct haha.

Sian Maybank no promo liao…..

 

[zeroX26]

Yes i tried applying 2nd esaver acct online and system said i already have 1 esaver acct haha.

Sian Maybank no promo liao…..

Where got no promo? 3.1% on incremental amount from Dec till Jan.

 

[Imhthc]

I thought Maybank isavvy has new one same as scb period. At 3.5%(inclusive of base interest) for new incremental fund and must be $10k and above

 

[twosix]

Yes i tried applying 2nd esaver acct online and system said i already have 1 esaver acct haha.

Sian Maybank no promo liao…..

Try joint account?

 

[DevilPlate]

Where got no promo? 3.1% on incremental amount from Dec till Jan.

Nice i checked this morning website not updated.
https://www.maybank2u.com.sg/en/promotions/deposits/savings.page?

 

[bluegt]

The 3.8% promo is very good. TnCs say 100K fresh funds as determined by comparing 30 Nov and 31 Dec balance.

So actually just need to meet that criteria for 1 day, Dec 31. Jan 1 can withdraw already and still be eligible for 3.8% until Apr 30.

of course interest is calculated on the balance in the acct so there’s incentive to keep the funds there.

 

[hwarzoner]

how come public promo capped at 2 million only?? while invited capped at 5 million why??