Standchart eSaver

[maumu]

your 3.55% invitation probably earlier than mine (sep23), just like how your current Dec23 invitation 3.8% higher than my current 3.65%

nah, I've not (yet?) been invited for the 3.8%...
well, even the public promo rate is 3.6% now so I'll just enjoy it while it lasts.
hopefully HSBC EGA will respond with a better rate for January.

 

[cherry6]

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.

Suspicious wording...

Somewhere is like it's a benefit tied to the bank customer, another place says it's a benefit tied to only certain selected accounts of the customer, considering that one customer can have many accounts.

Bankers too free, play semantics with customers now?

Maybe they wanna spy and see who has $100k although the amt could also be borrowed, so just add $100k on Dec31 overnight to the Nov30 overnight balance to get the 3.8% rate till like April.

 

[sglandscape]

Suspicious wording...

Somewhere is like it's a benefit tied to the bank customer, another place says it's a benefit tied to only certain selected accounts of the customer, considering that one customer can have many accounts.

Bankers too free, play semantics with customers now?

Maybe they wanna spy and see who has $100k although the amt could also be borrowed, so just add $100k on Dec31 overnight to the Nov30 overnight balance to get the 3.8% rate till like April.

Don't think this is the case. The incremental balance is to encourage you to bring fresh funds in to enjoy the promo. Of course you can move it out the next day, but if the rate is better than elsewhere (which it is), would you?

 

[linusz]

hmm I got the new promo
but i was moving from scb account a to b all along

so I need to move out then move to back in scb to enjoy it?

 

[sglandscape]

hmm I got the new promo
but i was moving from scb account a to b all along

so I need to move out then move to back in scb to enjoy it?

Which new promo? But yes

 

[0218crawford]

Jus saw this in my email. Song Song gao joolong...

 

[maumu]

Jus saw this in my email. Song Song gao joolong...

Hope to receive soon as well

 

[linusz]

Jus saw this in my email. Song Song gao joolong...

it mean put 100k before Dec is over
and qualify?

 

[zeroX26]

it mean put 100k before Dec is over
and qualify?

No, means put 100k above your end of day amount for 30 Nov.

 

[creatrixnator]

Can clarify why we need to move money every 2 months for the public promo ?
should it not be 2 months on and 1 month of ?
I’ve been doing 2 months for a long time and now can’t recall why
Since its nov adb , and last 30 days …

 

[sglandscape]

Can clarify why we need to move money every 2 months for the public promo ?
should it not be 2 months on and 1 month of ?
I’ve been doing 2 months for a long time and now can’t recall why
Since its nov adb , and last 30 days …

Promo is every 2 months, based on the month prior to the start of the 2 months.

 

[wira]

if i received this only via app notification, still counted as invited right as i didnt rec the email

 

[sglandscape]

if i received this only via app notification, still counted as invited right as i didnt rec the email

Yes check your notification inbox on the app

 

[yuppieboy]

can anyone verify that the bonus interests is only for incremental balance of min 100k compared to end Nov ADB. Is this bonus interests calculation applicable for the rest of the months until end April?

For instance, I have 100k balance at end Nov, and I top up 100k in Dec for the promotion. Even though my total balance is 200k, is the bonus interests based only on the incremental amount of $100k. if so, Does it means for the months of Jan till Apr, I will get to receive bonus interests based on the $100k or will it be for the full $200k?

 

[sglandscape]

can anyone verify that the bonus interests is only for incremental balance of min 100k compared to end Nov ADB. Is this bonus interests calculation applicable for the rest of the months until end April?

For instance, I have 100k balance at end Nov, and I top up 100k in Dec for the promotion. Even though my total balance is 200k, is the bonus interests based only on the incremental amount of $100k. if so, Does it means for the months of Jan till Apr, I will get to receive bonus interests based on the $100k or will it be for the full $200k?

Why don't you check with SCB customer service directly. Nobody here can verify that for you.

But that's the understanding of the tnc. Also provided you are invited for the promo and is the primary account holder.

 

[yuppieboy]

Why don't you check with SCB customer service directly. Nobody here can verify that for you.

But that's the understanding of the tnc. Also provided you are invited for the promo and is the primary account holder.

Yes, I was invited and also primary account holder. Did the tnc mentioned that bonus interests is only applicable for incremental amount compared to end Nov ADB? It only mentioned that to participate in the promo, need to top up at least 100k compared to end nov adb. Anyway will call sc to confirm this.

 

[BlackTortoise]

No, means put 100k above your end of day amount for 30 Nov.

This month, I already parked my fund in CIMB, so if I transfer all my $100,000 to SCB on 31 Dec, I would get 3.8% from SCB + 3.5% from CIMB concurrently? Huat Ahhh.....

 

[royalmix]

This month, I already parked my fund in CIMB, so if I transfer all my $100,000 to SCB on 31 Dec, I would get 3.8% from SCB + 3.5% from CIMB concurrently? Huat Ahhh.....

You only get from CIMB!

 

[royalmix]

Yes, I was invited and also primary account holder. Did the tnc mentioned that bonus interests is only applicable for incremental amount compared to end Nov ADB? It only mentioned that to participate in the promo, need to top up at least 100k compared to end nov adb. Anyway will call sc to confirm this.

can anyone verify that the bonus interests is only for incremental balance of min 100k compared to end Nov ADB. Is this bonus interests calculation applicable for the rest of the months until end April?

For instance, I have 100k balance at end Nov, and I top up 100k in Dec for the promotion. Even though my total balance is 200k, is the bonus interests based only on the incremental amount of $100k. if so, Does it means for the months of Jan till Apr, I will get to receive bonus interests based on the $100k or will it be for the full $200k?

All of you are so lucky to be invited but dun understand the tnc to benefit?

I never get invited for so many years, I also prayed they dun invite me now as I dun have the funds now to exploit cos there are better offers with my limited funds until next year. But I always read the tnc you guys shared so I can be better prepared when my turn comes.

Tnc

"2. How do I qualify to receive Bonus Interest under this promotion?

To qualify for bonus interest, you must deposit fresh funds of minimum S$100,000 into your eligible account(s) by 31 December 2023 such that the end-of-day deposit balance on 31 December 2023 is at least S$100,000 higher than the end-of-day deposit balance on 30 November 2023."

The above is the only condition you need to meet. No need to meet conditions I need to comply with the public promo which I can enjoy for now!

 

[Imhthc]

Yes, I was invited and also primary account holder. Did the tnc mentioned that bonus interests is only applicable for incremental amount compared to end Nov ADB? It only mentioned that to participate in the promo, need to top up at least 100k compared to end nov adb. Anyway will call sc to confirm this.

Actually their clauses are rather vague. In clause 3:

3. Under this Promotion, you will be eligible to receive prevailing interest (“Prevailing Interest”) on your entire deposit balance (“Deposit Balance”) in the Qualifying Account(s), at the prevailing interest rate of 0.05% p.a.

But in clause 4, they did not mention the term “deposit balance”. Very much up to their interpretation alr.

4. In addition to Prevailing Interest, if you meet the eligibility criteria in Clause 2 above, you will also earn bonus interest (“Bonus Interest“) of 3.75% p.a. (“Bonus Interest Rate”) on the first S$5,000,000 of the average daily balance (“ADB”) in your Qualifying Account(s), during the Promotion Period, subject to the following:

1. The ADB in your Qualifying Account(s) is used to determine the amount of Bonus Interest you are entitled to receive during the Promotion Period;
2. ADB is the sum of end-of-day account balancesof all days in a particular calendar month, divided by the number of days in that month, where “end-of-day account balances” means account balances as of 2359 hours of each day:
   1. If there are n days in a calendar month and X1, X2, X3, …, Xn are the end-of-day account balances from Day 1 to Day n respectively, the ADB for the account will be:X1 + X2 + X3 +… + Xn/n
   2. For example, and strictly for illustration purposes: if (i) there are 31 days in December 2023, (ii) the end-of-day account balance on each day between 1 December 2023 and 15 December 2023 is S$0, and (iii) the end-of day account balance on each day between 16 December 2023 and 31 December 2023 is S$1,000, the ADB for the account will beS$0 x 15) + (S$1,000 x 16)/31 = S$516.13
   3. Any amount of ADB exceeding S$5,000,000 in your Qualifying Account(s) shall earn the Prevailing Interest only;
   4. If you have more than one Eligible Account(s), you must deposit fresh funds of minimum S$100,000 into each individual account in order for each of them to qualify for Bonus Interest; and
   5. For the avoidance of doubt, any deposit, withdrawal or otherwise transaction in relation to your Qualifying Account(s) that takes place on the last day of a calendar month, falling on either a Sunday, a public holiday or a bank holiday, will not be taken into consideration for the purposes of the Bank’s computation of ADB and crediting of Bonus Interest.