Standchart eSaver

touchring1 · Feb 15, 2023

wutawa said:
Just to posb then transfer back immediately

Oh, can do that even now? I thought the balance must be higher than January than counted? Actually, I forgot about the 31 Jan renewal, wasted 15 days interest. :frown:

wutawa · Feb 15, 2023

touchring1 said:
Oh, can do that even now? I thought the balance must be higher than January than counted? Actually, I forgot about the 31 Jan renewal, wasted 15 days interest.

My esaver in jan was $0.

touchring1 · Feb 15, 2023

wutawa said:
My esaver in jan was $0.

If $0, any amount you put in Feb will be considered new funds. But my funds were already inside since mid-Dec.

wutawa · Feb 15, 2023

touchring1 said:
If $0, any amount you put in Feb will be considered new funds. But my funds were already inside since mid-Dec.

Oic, i tot fresh fund must not from scb.

touchring1 · Feb 15, 2023

wutawa said:
Oic, i tot fresh fund must not from scb.

On SC website, it says "From now till 31 March 2023, earn up to 3.80% p.a. interest on eligible deposit balance of S$2 million with no lock-in period when you bring in incremental fresh funds* (compared to January 2023 average daily balance)".

It says incremental, so I thought the funds must be more than the amount already in the account on the 31 Jan? So in this sense, transferring out and back in again don't matter for the amount already in the account on the 31 Jan? Correct me if I'm wrong.

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

sohguanh · Feb 15, 2023

touchring1 said:
It says incremental, so I thought the funds must be more than the amount already in the account on the 31 Jan? So in this sense, transferring out and back in again don't matter for the amount already in the account on the 31 Jan? Correct me if I'm wrong.

I have same thinking as you. When they announced Jan already over so will compare with that month. If in Feb you txfr in out don't matter. It is same gameplay as Maybank iSavvy

touchring1 · Feb 15, 2023

sohguanh said:
I have same thinking as you. When they announced Jan already over so will compare with that month. If in Feb you txfr in out don't matter. It is same gameplay as Maybank iSavvy

How about if on the 31 Jan, transfer all out? Then on 1st Feb transfer back in again.

havetheveryfun · Feb 15, 2023

touchring1 said:
On SC website, it says "From now till 31 March 2023, earn up to 3.80% p.a. interest on eligible deposit balance of S$2 million with no lock-in period when you bring in incremental fresh funds* (compared to January 2023 average daily balance)".

It says incremental, so I thought the funds must be more than the amount already in the account on the 31 Jan? So in this sense, transferring out and back in again don't matter for the amount already in the account on the 31 Jan? Correct me if I'm wrong.

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

ya but if u read the T n C, it is based on incremental ADB
thats the catch

touchring1 · Feb 15, 2023

havetheveryfun said:
ya but if u read the T n C, it is based on incremental ADB
thats the catch

Ok, so, if it's the average daily balance, moving money out on the last day won't matter then.

wutawa · Feb 16, 2023

touchring1 said:
On SC website, it says "From now till 31 March 2023, earn up to 3.80% p.a. interest on eligible deposit balance of S$2 million with no lock-in period when you bring in incremental fresh funds* (compared to January 2023 average daily balance)".

It says incremental, so I thought the funds must be more than the amount already in the account on the 31 Jan? So in this sense, transferring out and back in again don't matter for the amount already in the account on the 31 Jan? Correct me if I'm wrong.

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

wutawa said:
My esaver in jan was $0.

my concern wasnt abt incremental since my balance in jan was $0. my concern was this:

* “Fresh funds” means funds that do not originate from any existing account with the Bank or funds that are not withdrawn and re-deposited within 30 days of the Promotion Period.

touchring1 · Feb 16, 2023

wutawa said:
my concern wasnt abt incremental since my balance in jan was $0. my concern was this:

Ok, it says within 30 days, so if the funds are withdrawn after 30 days, I guess it's fine?

rajeev3001 · Feb 17, 2023

PC-User said:
Next to consider should be iSAVvy ba. Unless RHB HYSA......

iSAvvy gives only 0.4% right?
HYSA is 1.5%+.

PC-User · Feb 17, 2023

rajeev3001 said:
iSAvvy gives only 0.4% right?
HYSA is 1.5%+.

Of course considering the 'promotional' bonus interest mah.

revhappy · Feb 18, 2023

touchring1 said:
Ok, it says within 30 days, so if the funds are withdrawn after 30 days, I guess it's fine?

wutawa said:
my concern wasnt abt incremental since my balance in jan was $0. my concern was this:

30 days here mean before the promotion. So let's say you had 100k on Jan 10th and you withdraw it. Then in Feb 1st you deploy it back. Then you don't get interest.

If you had 100k on 28th December and you withdraw it on the same day, then it is okay because is it more than 30 days before start of promotion

wutawa · Feb 18, 2023

revhappy said:
30 days here mean before the promotion. So let's say you had 100k on Jan 10th and you withdraw it. Then in Feb 1st you deploy it back. Then you don't get interest.

If you had 100k on 28th December and you withdraw it on the same day, then it is okay because is it more than 30 days before start of promotion

oic, so it is "are not withdrawn and re-deposited within 30 days before of the Promotion Period.".
tat means i wont get the bonus since i did it on 1st feb.

touchring1 · Feb 18, 2023

wutawa said:
oic, so it is "are not withdrawn and re-deposited within 30 days before of the Promotion Period.".
tat means i wont get the bonus since i did it on 1st feb.

So we need to alternate between another account for this to work. 2 months here, 2 months there.

rajeev3001 · Feb 19, 2023

CIMB fast saver gives 1.5% for the first 25k and then 2.0% for the next 25k.
RHB HYSA 1.5% for first 50k.

No one here is talking about cimb as alternate option after 2 months. Any hidden conditions or any other issue?

sohguanh · Feb 19, 2023

rajeev3001 said:
CIMB fast saver gives 1.5% for the first 25k and then 2.0% for the next 25k.
RHB HYSA 1.5% for first 50k.

No one here is talking about cimb as alternate option after 2 months. Any hidden conditions or any other issue?

Sing Investment GoSaver 2.5% first 100K. 3% next 150K

havetheveryfun · Feb 19, 2023

rajeev3001 said:
CIMB fast saver gives 1.5% for the first 25k and then 2.0% for the next 25k.
RHB HYSA 1.5% for first 50k.

No one here is talking about cimb as alternate option after 2 months. Any hidden conditions or any other issue?

most esaver old account holders have 2 esaver accs.. hee hee

WoShiPro · Feb 19, 2023

I have not been using scb acc ever since I stop using their platform to trade.

If I deposit cash to esaver will they claw back the fall below fees for the past years? Since account is $0..

In order to enjoy the 3.8% I should transfer on 1st March since if I transfer now daily avg balance is below $1k and will incur fall below fees?

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