Standchart eSaver

[maumu]

3.55% probably barely more than the public promotion rate only, see what SCB going to publish tomorrow.

my invite from last month only 3.45% same as public rate... only special is the rate applies to the entire balance instead of incremental balance

big drop from previous 3.7%...

Qn: If I move my funds out of eSaver (A) on June 1, Saturday. The transaction date is Jun 1 but the settling date is June 3. Does it mean I will still get interest in eSaver (A) June 1 and 2, which means eSaver still considers I have funds in there for June 1 and 2?

1. Is Saturday a banking holiday in Singapore?
   No. However, some banks choose to close on Saturdays and Sundays. Also, with effect from 15 May 2006, the Singapore banking industry moved to a 5-Day Clearing Week. There is no crediting or debiting of customer accounts with cheques, GIRO or Interbank funds transfers on Saturdays. Clearing of funds will be carried out Mondays to Fridays only.

you can still transact and post on Saturday before a certain time... I think is 3pm to be safe.

 

[Imhthc]

my invite from last month only 3.45% same as public rate... only special is the rate applies to the entire balance instead of incremental balance

big drop from previous 3.7%...


you can still transact and post on Saturday before a certain time... I think is 3pm to be safe.

Since a few have received invitation for 3.55%, is that an indicator that the public interest rate for the incremental balance will be increased to 3.5%?

 

[a4973]

Since a few have received invitation for 3.55%, is that an indicator that the public interest rate for the incremental balance will be increased to 3.5%?

Hi if one receives an invitation for 3.55% on incremental of 100k and subsequently there's public offer for say 3.5% no incremental requirements can one choose to participate in the Public and not the Invitation option? Thank you.

 

[maumu]

Since a few have received invitation for 3.55%, is that an indicator that the public interest rate for the incremental balance will be increased to 3.5%?

Hi if one receives an invitation for 3.55% on incremental of 100k and subsequently there's public offer for say 3.5% no incremental requirements can one choose to participate in the Public and not the Invitation option? Thank you.

if the public rate subsequently becomes higher than the invitation rate (during the promo period), they will up the invitation rate to be on par with the public rate. this is stated in the tnc for the invitation promo...

 

[a4973]

if the public rate subsequently becomes higher than the invitation rate (during the promo period), they will up the invitation rate to be on par with the public rate. this is stated in the tnc for the invitation promo...

Hi @maumu thank you for the reply.
So my invitation is Group B. My esaver end of day balance on 31 May is $0.00. As of 1 June I can only muster up 60k+ as I have tbills totalling 120k+ maturing over July and early August. So how do I meet the group B TnC. Should I deposit 60k in my esaver on 1 June then on 30 June I can top up 40k from my multiplier account to hit 100k for 1 day then transfer out the 40k on 1 July back to Multiplier then just cruise along till my various tbills mature in July then I top up the esaver with those funds? Sorry I think I am overcomplicating this but I don't know how else to articulate my question. Previously when I joined esaver it was as a new to esaver with $0 on the comparison month.

 

[CaptainWu]

1. Is Saturday a banking holiday in Singapore?
   No. However, some banks choose to close on Saturdays and Sundays. Also, with effect from 15 May 2006, the Singapore banking industry moved to a 5-Day Clearing Week. There is no crediting or debiting of customer accounts with cheques, GIRO or Interbank funds transfers on Saturdays. Clearing of funds will be carried out Mondays to Fridays only.

I asked the same before (probably in this forum), the answer I have is "depends" on the bank since now everyone are using Fast transfer. Eg, HSBC last cut-off is Sat 5pm, not sure for other banks.

 

[maumu]

Hi @maumu thank you for the reply.
So my invitation is Group B. My esaver end of day balance on 31 May is $0.00. As of 1 June I can only muster up 60k+ as I have tbills totalling 120k+ maturing over July and early August. So how do I meet the group B TnC. Should I deposit 60k in my esaver on 1 June then on 30 June I can top up 40k from my multiplier account to hit 100k for 1 day then transfer out the 40k on 1 July back to Multiplier then just cruise along till my various tbills mature in July then I top up the esaver with those funds? Sorry I think I am overcomplicating this but I don't know how else to articulate my question. Previously when I joined esaver it was as a new to esaver with $0 on the comparison month.

I'm actually in the same predicament as you, cos I didn't 'empty' out on 30 April for the invitation promo (my promo was May Batch B)... so I need to transfer some amount from my DBS multiplier over today to meet the $100k top-up criteria. tomorrow then transfer back to DBS.

so lose one day of bonus interest for multiplier but gain three more months of bonus interest for eSaver... should be worth it.

 

[Lè Crayons]

I'm actually in the same predicament as you, cos I didn't 'empty' out on 30 April for the invitation promo (my promo was May Batch B)... so I need to transfer some amount from my DBS multiplier over today to meet the $100k top-up criteria. tomorrow then transfer back to DBS.

so lose one day of bonus interest for multiplier but gain three more months of bonus interest for eSaver... should be worth it.

Simply top up your account with fresh funds^ of minimum S$100,000 by 30 June 2024, such that your deposit balance on 30 June 2024 is at least S$100,000 higher as compared to your deposit balance on 31 May 2024, to qualify for the promotion.​

 

[a4973]

I'm actually in the same predicament as you, cos I didn't 'empty' out on 30 April for the invitation promo (my promo was May Batch B)... so I need to transfer some amount from my DBS multiplier over today to meet the $100k top-up criteria. tomorrow then transfer back to DBS.

so lose one day of bonus interest for multiplier but gain three more months of bonus interest for eSaver... should be worth it.

but why top up to meet the 100k requirement on 1 June when the TnC says "Simply top up your account with fresh funds^ of minimum S$100,000 by 30 June 2024, such that your deposit balance on 30 June 2024 is at least S$100,000 higher as compared to your deposit balance on 31 May 2024, to qualify for the promotion"?

 

[sglandscape]

but why top up to meet the 100k requirement on 1 June when the TnC says "Simply top up your account with fresh funds^ of minimum S$100,000 by 30 June 2024, such that your deposit balance on 30 June 2024 is at least S$100,000 higher as compared to your deposit balance on 31 May 2024, to qualify for the promotion"?

New esaver cycle

 

[maumu]

but why top up to meet the 100k requirement on 1 June when the TnC says "Simply top up your account with fresh funds^ of minimum S$100,000 by 30 June 2024, such that your deposit balance on 30 June 2024 is at least S$100,000 higher as compared to your deposit balance on 31 May 2024, to qualify for the promotion"?

for your case you're participating in June.

for my case I'm participating in May.

both schematics are the same... just different dates used for comparison.

you should top up on 30 June to make the end-day balance >= end-day balance of 31 May + $100k

 

[a4973]

for your case you're participating in June.

for my case I'm participating in May.

both schematics are the same... just different dates used for comparison.

you should top up on 30 June to make the end-day balance >= end-day balance of 31 May + $100k

Thank you for breaking it all down for me!! 30 June is a Sunday so will top up on 29 June early in the A.M.

 

[ahnyaahnya]

If top up $100k in beginning of June, then withdraw some later in the month, can get the bonus % on average balance or not ?

 

[twosix]

If top up $100k in beginning of June, then withdraw some later in the month, can get the bonus % on average balance or not ?

You should earn the bonus interest in those days where ur ADB is above $100k.

 

[a4973]

You should earn the bonus interest in those days where ur ADB is above $100k.

Is there a need for ADB to be > 100k to earn BI? Don't see any such language in the TnCs.

 

[maumu]

as long as you satisfied the EOD balance criteria, you are on the programme.

the bonus interest will be calculated based on ADB of the month, so it's okay to dip below the topped up $100k on the days in the month. You just end up with lower bonus interest due to lower ADB.

 

[twosix]

Is there a need for ADB to be > 100k to earn BI? Don't see any such language in the TnCs.

You're right. As long as adb is higher than the reference month, one will earn the BI. But this is for the current promo. Dunno if its still the same for the coming one.

Anyway personally, i will maintain at least 100k above ref. mth to be sure.

 

[maumu]

ADB is calculated based on EOD balance of all the days in the month. You are not required to remain at above $100k for every single day of the month.

 

[twosix]

ADB is calculated based on EOD balance of all the days in the month. You are not required to remain at above $100k for every single day of the month.

It does not matter to me. This is my way. Of course please follow your own way.

Just to add why i do this, because i alternate between this and HSBC, so to ensure i do not mess up due to the various requirements, i just put at least $100k everytime.

 

[royalmix]

Maybe you guys should create a separate thread, call it "SCB Esaver Exclusive Invites" and discuss there, so you will not confuse yourself by comments by others who are not on invite!

me not vested!