Standchart eSaver

[direbmem]

$823 pocket money just in

A cool 650k in deposits!!

 

[sohguanh]

A cool 650k in deposits!!

That is a lot! But sometimes readers in the forum advise that pool of monies could be pooled from a few members e.g parents dunno so just hand over their monies to children to help them get more. But even if pooled that is quite a big sum of monies indeed! At least to me.

 

[Devilsire]

Dear Valued Client,

As our valued client, you can earn up to 2.20% p.a. interest for 6 months on your e$aver balances.

From now till 28 February 2023, you will earn interest on balances in your eligible e$aver account(s) in the manner as set out below.

Simply top up your account with fresh funds^ of minimum S$100,000 by 30 September 2022, such that your deposit balance on 30 September 2022 is at least S$100,000 higher as compared to your deposit balance on 31 August 2022, to qualify for the promotion.

Didnt get the 1.8% invite and gotten this today.
But i already deposited some amount into 1 of my esaver accounts.
Wonder if it'll qualify if i do a musical chair into my 2nd esaver account

 

[Panerex]

Didnt get the 1.8% invite and gotten this today.
But i already deposited some amount into 1 of my esaver accounts.
Wonder if it'll qualify if i do a musical chair into my 2nd esaver account

I got this too.

Does it mean we should top up asap go earn 2.2% pa Wef 1 Sep, or should wait till 30 Sep then top up?

 

[Devilsire]

I got this too.

Does it mean we should top up asap go earn 2.2% pa Wef 1 Sep, or should wait till 30 Sep then top up?

from what i understand, it'll activate the 2.2% bonus rate wef 1Sep22 till Feb23 once an increment of $100k fresh fund deposited.

 

[sgreview]

Nice.. Increase to 2.2%, let's see if SCB will offer that to the previous batch, coz I remembered it is mentioned that the rates will be the higher of 1.8% or whichever new rate being offered. Nevertheless, RHB still win with 3%.. enjoying the "interest rate war" between banks

 

[sgreview]

I got this too.

Does it mean we should top up asap go earn 2.2% pa Wef 1 Sep, or should wait till 30 Sep then top up?

Top up now if you think this is good enough for u and u want to enjoy the 2.2% from 1 Sep. Otherwise, u can just put 100k more than your reference month on 30 Sep, just to lock-in the promo.

 

[Mickey01]

Didnt get the 1.8% invite and gotten this today.
But i already deposited some amount into 1 of my esaver accounts.
Wonder if it'll qualify if i do a musical chair into my 2nd esaver account

wow .... SCB increase the "By Invite" rate from previous round of 1.8% to 2.2%. They are pretty smart .... increase the rate for selected customers. If they increase the rates for the public 2 month promo and is higher than the "by invite" ones, all get to enjoy the higher rates.

 

[sohguanh]

wow .... SCB increase the "By Invite" rate from previous round of 1.8% to 2.2%. They are pretty smart .... increase the rate for selected customers. If they increase the rates for the public 2 month promo and is higher than the "by invite" ones, all get to enjoy the higher rates.

2.2% still lesser than RBH 3% and that is for public. SC tend to "reward" loyal customer I guess.

 

[Mickey01]

Nice.. Increase to 2.2%, let's see if SCB will offer that to the previous batch, coz I remembered it is mentioned that the rates will be the higher of 1.8% or whichever new rate being offered. Nevertheless, RHB still win with 3%.. enjoying the "interest rate war" between banks

if SCB Oct-Nov promo is increased to let say 1.9%, then everyone (public and the previous batch by invite 1.8%) gets to enjoy the 1.9% This 2.2% batch gets to enjoy 2.2%.

 

[Mickey01]

2.2% still lesser than RBH 3% and that is for public. SC tend to "reward" loyal customer I guess.

of course I will still have some funds with RHB but on the whole I am still more comfortable with SCB as they are full Singapore incorporated bank. And maybe "T" Holdings still a major shareholder? Not sure if they are still

 

[tour_de_forcez]

Same here got 1.5% only, not 1.8% as promised in the email sent to me.

My fund is totally fresh.

Same here, only 1.5%, although mine is totally fresh funds. Have email them to check.

 

[maumu]

I feel that the banks are really taking their customers for a ride by over-riding the promotion and penalising the previous sign-ups.

 

[Mickey01]

I feel that the banks are really taking their customers for a ride by over-riding the promotion and penalising the previous sign-ups.

i know what you mean ...... your second experience

 

[rayzzzz82]

Can anyone advise? If I just open a new esaver account in sep. Will I receive the incremental interest in oct

 

[Devilsire]

I feel that the banks are really taking their customers for a ride by over-riding the promotion and penalising the previous sign-ups.

boh bian thats how the game works. i still have 1.6% FD locked with 1/2 year going

 

[vsvs24]

Actually it is better to wait for the new esaver cycle for Oct and Nov. than to participate in Sep.

If participate in Sep, need to move funds out on 1 Oct and cannot participate in Oct - Nov cycle because the reference month would be Sep. So you join 1 mth and sit out 2 mths.

And judging from the increase for exclusive esaver, the Oct - Nov cycle should be higher than Aug - Sep cycle.

 

[Devilsire]

Actually it is better to wait for the new esaver cycle for Oct and Nov. than to participate in Sep.

If participate in Sep, need to move funds out on 1 Oct and cannot participate in Oct - Nov cycle because the reference month would be Sep. So you join 1 mth and sit out 2 mths.

And judging from the increase for exclusive esaver, the Oct - Nov cycle should be higher than Aug - Sep cycle.

the invite promo is based on "your deposit balance on 30 September 2022 is at least S$100,000 higher as compared to your deposit balance on 31 August 2022, to qualify for the promotion"
and "From now till 28 February 2023, you will earn interest on balances in your eligible e$aver account(s) in the manner as set out below."

Anyway i just realised something for the invite promo, its stated:

Prevailing and Bonus Interest Rates
3. Under this Promotion, you will be eligible to receive prevailing interest (“Prevailing Interest”) on your entire deposit balance (“Deposit Balance”) in the Qualifying Account(s), at the prevailing interest rate of 0.05% p.a.
4. In addition to Prevailing Interest, if you meet the eligibility criteria in Clause 2 above, you will also earn bonus interest ("Bonus Interest") of 2.15% p.a. (“Bonus Interest Rate”) on the first S$5,000,000 of the average daily balance (“ADB”) in your Qualifying Account(s), during the Promotion Period, subject to the following:

a. The ADB in your Qualifying Account(s) is used to determine the amount of Bonus Interest you are entitled to receive during the Promotion Period;
b. ADB is the sum of end-of-day account balances of all days in a particular calendar month, divided by the number of days in that month, where “end-of-day account balances” means account balances as of 2359 hours of each day:

i. If there are n days in a calendar month and X1, X2, X3, …, Xn are the end-of-day account balances from Day 1 to Day n respectively, the ADB for the account will be:

X1 + X2 + X3 +… + Xn
______________________
n

ii. For example, and strictly for illustration purposes: if (i) there are 30 days in September 2022, (ii) the end-of-day account balance on each day between 1 September 2022 and 15 September 2022 is S$0, and (iii) the end-of day account balance on each day between 16 September 2022 and 30 September 2022 is S$1,000, the ADB for the account will be:

(S$0 x 15) + (S$1,000 x 15)
___________________________ = S$500.00

30

So is it $500 x 2.15% x 15/365 = $0.44 instead of the usual $1000 x 2.15% x 15/365 or $500 x 2.15% x 30/365 = $0.88 in the illustration?

In anycase i'll most probably only activate the invite promo on last day to start in Oct as i'll need some funds shuffling

 

[iduncheckmail]

I feel that the banks are really taking their customers for a ride by over-riding the promotion and penalising the previous sign-ups.

Lol, jus coz u didn’t get already whining like a kid. If you get the better promo will you still kpkb that others not eligible ? Pffffff.

 

[maumu]

Lol, jus coz u didn’t get already whining like a kid. If you get the better promo will you still kpkb that others not eligible ? Pffffff.

you must be some sort of a terrible person irl or you've some trauma in your life that you need to resort to this kind of response.

pity your upbringing. if you can't contribute facts or constructive opinion, pls save the time and look elsewhere.