Standchart eSaver

havetheveryfun

havetheveryfun

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lzydata said:
Yes but @vsvs24 was worried about the wording.

For myself, Stanchart has been running some version of this eSaver promo for years, so I do not worry about some legal wording.

They also pay the bonus interest on time and in full too (y)
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yep but i remember last year there were a few months where they stopped the promo
 
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sohguanh

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lzydata

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sohguanh said:
Think your info maybe outdated. Existing CIMB customers already receive this same rate by their email notification and it started 01 Aug 2022 (today) already not Sep 2022
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No, they increased the rates again.

0.30% pa -> 0.50% pa -> 1.10% pa
 
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vsvs24

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lzydata said:
Refresh your browser tab or clear your history to be sure?
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Thanks. Cleared cache and saw the latest.

If you satisfy the qualifying criteria stipulated in these terms, you will also earn bonus
interest of 1.45% p.a. ("Bonus Interest") on your Incremental Balance (as defined in Clause
6 below) during the Promotion Period, provided always that the Incremental Balance
eligible for Bonus Interest shall be subject to a cap of S$1,000,000 per Qualifying Account(s). Any amount of Incremental Balance exceeding S$1,000,000 per Qualifying
Account(s) shall earn the Prevailing Interest only.
 
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sohguanh

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Those can Aug put in SC eSaver 1.5% not bad but must be fresh funds hor. For Sep CIMB fastsaver if can hit 75K is better deal
 
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sohguanh

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Squaredot said:
merry go round to freshen it
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Can you share how to merry go round? How do SC determine fresh funds? Let's give e.g

1. Withdraw 100K out from SC eSaver
2. You FAST in different amounts to make it to 100K and viola it is considered fresh funds ?

My only concern is if the merry go round is detected by SC then one whole month of lost interest by playing this game. To me 100K not small monies
 
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lzydata

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sohguanh said:
Can you share how to merry go round? How do SC determine fresh funds? Let's give e.g

1. Withdraw 100K out from SC eSaver
2. You FAST in different amounts to make it to 100K and viola it is considered fresh funds ?

My only concern is if the merry go round is detected by SC then one whole month of loss interest by playing this game. To me 100K not small monies
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So the concept here is not really fresh funds but incremental balance.

For the current promo, the comparison is to July 2022's average daily balance. If you opened a new eSaver account, this balance is counted as $0.

So it is already a fixed number. If your July 2022 ADB is $1k, and now you put in $100k for 2 weeks, then you earn the bonus interest on the $100k for 2 weeks. Payable at the end of the month.

If your July 2022 ADB was $100k, you must put in additional $x to earn the bonus interest on that money. The $100k just earns the standard interest.
 
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