Me by invition of 3.8% via App in 02 Dec. So my Nov is 0 balance. I dumped in $200,000 in 08 December 2023. So for January 2024 I have to dump in minimum $100,000 very month to enjoy 3.8%? If I don’t have $100,000, then I have to take out $200,000 on 01 Jan 2024 to merry go round where?
Great to hear that. Then I treat it as a Fixed Deposit. No need to do anything NAO. Huat ahh!
better than FD. can withdraw and deposit as and when needed.
Just take note that from the thread u mentioned that ur Nov 23 is zero and u dump $200k in, u should be eligible for the public incremental bonus of 3.6%. Hence u will receive 3.6% for the amt u kept in the acct till end of Jan 24. The remaining balance 0.2% will be paid on the 20ish of the subsequent month. Moving on to Feb 24, u will get base interest on the last day of the months, Feb, mar and Apr 24 and the remaining balance of the 3.8% to be credited on the 20ish of the respective subsequent months. In case, u r shocked by the miserable interest on the last day of the months from Feb 24 till Apr 24 or the interest don’t tally which many forummers usually come in and ask. Haha.
No. He received the invitation for 3.8%. Since his end of day balance is 0 for 30th Nov, and he dumped $200k during Dec, he will meet the requirement for the 3.8% till April 2024 (April included).
yes. there are 2 invited promos recently. one in Nov (3.7%) and one in Dec (3.8%).
Yes yes. I din say he won’t get. However, the total interest is paid out in a way that he will get 3.6% at the end of the month of Dec 23 and Jan 24 and the remaining 0.2% on the 20ish of the subsequent month.
Huh no. For the 3.8% promo, the combination is 0.05% account base interest + 3.75% bonus interest to be paid on the 20th of the following month. Its in the T&C leh.
If one is eligible for the public incremental promo, one will get the promotional interest on the last day of the month and the balance paid on the 20th of the following month. Let’s see since 31st Dec is just tmr. Tnc is assuming that one is not eligible for the public promotional incremental balance.
FACE PALM. That's what I've been describing isn't it - the 3.8% promo. I never said anything about the public promotion one.
I mentioned since he is eligible for 3.6% public promo, he will get 3.6% at the end of the month and remaining 0.2% at the following month 20th. (Total still 3.8%). My point is the interest amount paid out on the end of the month and by 20th of the following months are different but add up still same at 3.8%. Then u “no huh” and quoted the tnc (0.05% + 3.75%). Now I m confused about ur stand.
both of you are correct, in a sense. My take as below
Base interest is 0.05%. Not 0.5%.
1) Am I correct to say base interest of 0.05% is for the entire balance while the bonus interests of 3.55% is computed for incremental balance only?
1) BI is for incremental balance only.
