Standchart eSaver

[maumu]

No charges.
I did not get downgraded when deposit less than 100k for a year.

Sent from Mercedes-Benz E250 using GAGT

hmm.. interesting. wonder how they actually choose to upgrade/downgrade customers.

with the drop in rates next two months, think it's time to transfer to maybank liao...

 

[henrylbh]

just wondering, if I was auto-upgraded to priority (which requires $200k balance) but then supposed I transfer out lump sum such that the total balance drops < $200k, what will happen? will they impose charges or will they downgrade me to ordinary?

My sis deposited 300k in Feb 2018 and was graded as priority customer. In Apr, she withdraw all leaving only 1k plus. Till now she is still priority customer with balance of 1k plus

 

[chopra]

just to b super sure
...
esaver new 2 mths are oct and nov hor?

website says e$aver Bonus Interest (1 October 2019 to 30 November 2019) Promotion

 

[maumu]

just to b super sure
...
esaver new 2 mths are oct and nov hor?

website says e$aver Bonus Interest (1 October 2019 to 30 November 2019) Promotion

yup
10 char

 

[pinpinpin]

1.95%

https://www.sc.com/sg/save/savings-accounts/esaver/

Good Rate.

 

[awleong]

1.95%

https://www.sc.com/sg/save/savings-accounts/esaver/

Good Rate.

Worse than previous 2 mths..

 

[henrylbh]

1.95%

https://www.sc.com/sg/save/savings-accounts/esaver/

Good Rate.

Good when previously was 2.00% and Maybank is 2.01%

 

[iduncheckmail]

maybank 2.1% for Nov and Dec. IIRC .

 

[pinpinpin]

maybank 2.1% for Nov and Dec. IIRC .

If deposit in 1st October for 2.0%
Then when cross over to November to end December, still can get 2.10% ???

Sent from Mercedes-Benz E250 using GAGT

Too bad i placed $ in August for maybank.

Looks like Citibank maxigain is where it is gg.

 

[chopra]

yup
10 char

thanks 4 double confirming!

 

[vsvs24]

If deposit in 1st October for 2.0%
Then when cross over to November to end December, still can get 2.10% ???

Sent from Mercedes-Benz E250 using GAGT

https://info.maybank2u.com.sg/promotion/deposits-banking/fresh-funds-top-up.aspx

For the last few years Maybank isavvy stretch the last cycle to more than the usual 2 mths per cycle.

Current cycle is 4 mths from Sep to Dec 2019 with reference month Aug 2019.

So if you put in Oct, will get 2% for Oct and 2.1% for Nov and Dec. Only need to move out in Jan.

 

[iduncheckmail]

If deposit in 1st October for 2.0%
Then when cross over to November to end December, still can get 2.10% ???

Sent from Mercedes-Benz E250 using GAGT

Ref month this time is much longer at Aug 2019. So as long as you dont have much $ in there in aug. The Sep-Dec months incremental is reference back to Aug ADB.

 

[iduncheckmail]

Oh no, in August I'd transfered 50k to maybank from e$aver. Then within 5min transfered the 50k to another e$aver.

So my August ADB will be greatly affected.

So is it worth to move fund to maybank now?

Sent from Mercedes-Benz E250 using GAGT

If its only for less than a day over a month. I do not think its "greatly affected" lah. thats over exaggerating.

Also depends how much more $$ you have to top up right? Above your Aug ADB.
Do the math if you keep merry go round at esaver (1.95%) or swing to maybank 2.0-2.1% (take worse case of they consider your 50k balance for 1 day over 30days at maybank).

 

[Localborn]

Errr... if you are in the 1-year exclusive promotion, the comparsion month is fixed.
And if you are in 1-year "extension" promo in March 2019, your comparison month should be in 2018, not in 2019.

No leh. I joined the extension in Mar 2019 (I think cos I know my 1-year extension runs out end of March 2020). So I also assumed that my comparison month would be fixed at the month when I transferred my funds in.

For 1 or 2 cycles after joining extension, things were fine cos I unknowingly maintained ADB. I would receive 3 tranches of interest every month, 1 around 20th of the month and 2 on the last day of the month.

But in August I only received 1 tranche at the end of the month. When I called to ask why, CSO said it was because my ADB for Aug was lower than ADB for comparison month which was July.

Any bro can confirm? Cos if what Squaredot said is correct, I've got a case and I wanna demand my interest back

 

[Squaredot]

No leh. I joined the extension in Mar 2019 (I think cos I know my 1-year extension runs out end of March 2020). So I also assumed that my comparison month would be fixed at the month when I transferred my funds in.

For 1 or 2 cycles after joining extension, things were fine cos I unknowingly maintained ADB. I would receive 3 tranches of interest every month, 1 around 20th of the month and 2 on the last day of the month.

But in August I only received 1 tranche at the end of the month. When I called to ask why, CSO said it was because my ADB for Aug was lower than ADB for comparison month which was July.

Any bro can confirm? Cos if what Squaredot said is correct, I've got a case and I wanna demand my interest back

Just to clarify, are you in the 1-year exclusive promo or the extension promo after 1-year exclusive (total two years)?

I'm in latter promo, ie in my 2nd year extension, with same reference month as my 1st year promo. So far the interest credited are correct.

You may want to check your exclusive promo letter to ascertain your reference month. The reference month for comparsion should be fixed, not moving with current esaver promo.

 

[brown56]

I suggest take out the letter and read thru the tnc again before getting too jumpy.

My recollection is that there will be 3 times interests will be credited within a mth, as what you have rightly pointed out.

1st time.
End of the mth, they will credit you the interests based on the base interest rates

2nd time.
End of the mth, they will credit you the interests based on the current promotion. E.g. the current promo reference mth is sep. So they will compare oct ADB and nov ADB with sep ADB.

3rd time.
If you are on the one yr promo programme, they will credit you the interests on 20th - 22nd of the following mth. The amt of interest depends on the ADB of the mth comparing to the ADB of the mth you joined the promo minus the interests given at end of the mth.
E.g. on 20th sep, the interests received = interests (ADB aug - ADB mth joined) - interests (collected in end aug)

In your case, did you receive any interests on 20th sep?
If yes, does the interests on 20th sep + interests at end aug = the interests you expect?

No leh. I joined the extension in Mar 2019 (I think cos I know my 1-year extension runs out end of March 2020). So I also assumed that my comparison month would be fixed at the month when I transferred my funds in.

For 1 or 2 cycles after joining extension, things were fine cos I unknowingly maintained ADB. I would receive 3 tranches of interest every month, 1 around 20th of the month and 2 on the last day of the month.

But in August I only received 1 tranche at the end of the month. When I called to ask why, CSO said it was because my ADB for Aug was lower than ADB for comparison month which was July.

Any bro can confirm? Cos if what Squaredot said is correct, I've got a case and I wanna demand my interest back

 

[maumu]

I suggest take out the letter and read thru the tnc again before getting too jumpy.

My recollection is that there will be 3 times interests will be credited within a mth, as what you have rightly pointed out.

1st time.
End of the mth, they will credit you the interests based on the base interest rates

2nd time.
End of the mth, they will credit you the interests based on the current promotion. E.g. the current promo reference mth is sep. So they will compare oct ADB and nov ADB with sep ADB.

3rd time.
If you are on the one yr promo programme, they will credit you the interests on 20th - 22nd of the following mth. The amt of interest depends on the ADB of the mth comparing to the ADB of the mth you joined the promo minus the interests given at end of the mth.
E.g. on 20th sep, the interests received = interests (ADB aug - ADB mth joined) - interests (collected in end aug)

In your case, did you receive any interests on 20th sep?
If yes, does the interests on 20th sep + interests at end aug = the interests you expect?

wow I think you're the first to explain how it works so clearly. thanks!

 

[Localborn]

I suggest take out the letter and read thru the tnc again before getting too jumpy.

My recollection is that there will be 3 times interests will be credited within a mth, as what you have rightly pointed out.

1st time.
End of the mth, they will credit you the interests based on the base interest rates

2nd time.
End of the mth, they will credit you the interests based on the current promotion. E.g. the current promo reference mth is sep. So they will compare oct ADB and nov ADB with sep ADB.

3rd time.
If you are on the one yr promo programme, they will credit you the interests on 20th - 22nd of the following mth. The amt of interest depends on the ADB of the mth comparing to the ADB of the mth you joined the promo minus the interests given at end of the mth.
E.g. on 20th sep, the interests received = interests (ADB aug - ADB mth joined) - interests (collected in end aug)

In your case, did you receive any interests on 20th sep?
If yes, does the interests on 20th sep + interests at end aug = the interests you expect?

Merci for the very detailed and clear description. Then what I would have missed out was the second tranche cos that was what the CSO said, that my ADB for Aug was lower than my ADB for July.

For me, the normal interest and bonus interest come in on the last day of the month. And the latter was a huge chunk. Thus, I was quite upset not to receive it on 31 Aug. However, subsequently, my exclusive bonus interest (which comes in on 19-21) was a lot more than previous months. So it seemed I lost just a couple of hundred of dollars. Still heart pain but not as bad as I thought.

 

[tsipacse]

Hi, is the ADB for Sep across all existing accounts (including what i have in Bonus$aver) or only in eSaver? Thanks all in advance.

 

[henrylbh]

If its only for less than a day over a month. I do not think its "greatly affected" lah. thats over exaggerating.

Putting in and taking out money on the same day will not affect ADB which is determined on balance at the end of the day.