Standchart eSaver

[HOT123]

I received the invitation to top up my esaver account with 2% till Feb next year. Not sure if my current fund still earn 1.6% or drop back to 0.05%, if drop back to 0.05% then doesn't make sense to top up

 

[CaptainWu]

I received the invitation to top up my esaver account with 2% till Feb next year. Not sure if my current fund still earn 1.6% or drop back to 0.05%, if drop back to 0.05% then doesn't make sense to top up

Existing fund would be getting 0.05% only if you leave it there as they are not incremental fund, so just getting the prevailing rate.

 

[reflecx]

Existing fund would be getting 0.05% only if you leave it there as they are not incremental fund, so just getting the prevailing rate.

Exclusive invite gives X% on entire sum, not just incremental balance.

 

[Calthron]

How to ask for exclusive, I didn't get it. Just msg RM ...

 

[GrandJedi]

If you're on the September invite, balance on 30 Sep MUST be >200k higher than 31 Aug.

The criteria test is based on balance on two specific dates, and fresh funds >200k that's all.

For example, if you have 50k in August 31, you can do nothing from 1-29 Sep, but must topup >200k fresh funds by or on 30 Sep. Your balance on 30 Sep must be >250k
On 1st Oct, you're free to zero out or topup with funds from existing SCB accounts.

What if I withdraw the $50k today to set my August 31 baseline balance to zero, and then top up $200k by September 30 (and ensure my Sep 30 balances is $200k)? Does that qualify me for the 1.8% rate until late February 2027?

 

[GrandJedi]

How to ask for exclusive, I didn't get it. Just msg RM ...

let me know what your RM says.. thanks.

 

[Garlic & Butter]

What if I withdraw the $50k today to set my August 31 baseline balance to zero, and then top up $200k by September 30 (and ensure my Sep 30 balances is $200k)? Does that qualify me for the 1.8% rate until late February 2027?

it should work
the balances are tested on two fixed dates:
Aug 31: $0
Sep 30: >$200k

 

[HOT123]

RM conformed that my current fund will also get 2% so long I have 200k fresh fund pump in before end Sep, this is really good deal

 

[kikakika]

RM conformed that my current fund will also get 2% so long I have 200k fresh fund pump in before end Sep, this is really good deal

borrow 0% everywhere else and max out here.

 

[GrandJedi]

RM conformed that my current fund will also get 2% so long I have 200k fresh fund pump in before end Sep, this is really good deal

Any idea what it takes to get the invite for the 2% promo? Did anyone's RM share the criteria?

 

[nobody1968]

I would also like to know.

 

[CaptainWu]

Exclusive invite gives X% on entire sum, not just incremental balance.

Oh! Never heard of Exclusive Invite also get some many different types!

 

[Calthron]

Heard RM said the 2% eSaver is an error??

 

[HOT123]

Heard RM said the 2% eSaver is an error??

Just confirmed everything is good, and it is so good that all my current fund will be paid 2% till Feb

 

[Devilsire]

If you're on the September invite, balance on 30 Sep MUST be >200k higher than 31 Aug.

The criteria test is based on balance on two specific dates, and fresh funds >200k that's all.

For example, if you have 50k in August 31, you can do nothing from 1-29 Sep, but must topup >200k fresh funds by or on 30 Sep. Your balance on 30 Sep must be >250k
On 1st Oct, you're free to zero out or topup with funds from existing SCB accounts.

Those on Priority Banking tier can try ask the RM via instant messaging if "will there be eSaver Exclusive Bonus Interest Promotion?"

The RM can reach out to eSaver product manager to add you in manually (or so I believe, cos I been DM-ing the RM earlier today and once earlier this year).
Otherwise by default if your esaver has some convincing balances, the product team should notice you and invite you to the lowest tier and if you have high balances near the cap or even at the PP tier, may invite you to tier B or C.

But once you dont qualify for the invite, they will remove you and wont invite you for next cycle. need to ask RM to ask product to add back. Datapoint: once I forgot to put fresh funds and just transferred 100k from another SCB account. Naturally, I lose out on the BI and didnt got invited for the next cycle

thanks for sharing the info
i enquired with myRM months ago and she merely told me invites are rolled out to certain priority customers and that she's not privy to the lists
either myRM is useless/lazy or that cos my TRB was low back then & she cant be bothered

 

[sglandscape]

borrow 0% everywhere else and max out here.

How to borrow 0%?

 

[Garlic & Butter]

as US rates are all but set to rise on Sep 16, and again in Jan, eSaver is essentially capping SCB's rates at 2% up to Feb, and avoiding the need to hike again in Nov/ Dec. Essentially, they're giving only +0.2% hike on the back of 0.25% x2 US rate hikes for this tranche

 

[CaptainWu]

as US rates are all but set to rise on Sep 16, and again in Jan, eSaver is essentially capping SCB's rates at 2% up to Feb, and avoiding the need to hike again in Nov/ Dec. Essentially, they're giving only +0.2% hike on the back of 0.25% x2 US rate hikes for this tranche

That's alright, there is a term indicates that SCB will pay the higher interest rate should their esaver public promotion rate higher than the invited one, also there is no locked-in for the funds and we can move out any time should there a better deal out of SCB.

Btw, personally I still think US is unlikely going for rate hike this year, Donald Trump will go mad

 

[tiertime]

stand chart time deposit

Tenor Minimum Placement Amount (Fresh Funds in SGD) Promotional Interest Rate
6 months S$25,000
Personal Banking: 1.70% p.a.
Priority Banking: 1.80% p.a.
Priority Private: 2.00% p.a.

https://www.sc.com/sg/save/time-deposits/singapore-dollar-time-deposit

for those with less than 200k

Why is it only for those less than 200k ?

I tried transferring 25k to Esavers today and applying for the FD, it kept indicating this error :

SORRY
We are unable to continue with your application online, please visit our branch with regard to this application
Application number CXXXXXXX

Anybody facing same issue ?

 

[hwarzoner]

i am under priority banking and currently my esaver is under the invitation exclusive bonus from 01 Aug to 31 Oct 2026 at 1.6%. so now the the public time deposit offering 1.8% for PB client which is even better than my esaver 1.6% lol