Standchart eSaver

hwarzoner

hwarzoner

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Hulky8 said:
For those esaver acct who earn bonus interest based on excess of certain month end bal,
SCB is actually asking you to bring yr cash somewhere else cause yr entire prior month end bal would ve only earnEd 0.05% …nobody would keep it there when other banks are paying at least 3 odd %
Other invites have bonus interest based on yr entire bal up to X amt these are acct holders SCB wants to retain…..so take a look at yr type n determine yr status there
Click to expand...
Doesn't matter what type, if suits me i happy i put in normal esaver if not happy i go to others.
 
L

limjohnny

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twosix said:
Even Trusts (which is also SCB) offer 2.1%, right?
Click to expand...
TRUST
BASE INTEREST 1.5% p.a.
Earn 1.5% p.a. interest rate on the first S$75,000 deposit, with no strings attached! Interest rate of 0.05% p.a. applies to balances above S$75,000.
BONUS INTEREST 0.5% to 1.5% p.a.
Simply make 5 eligible purchases with your Trust card every month to enjoy bonus interest of 0.5% p.a. on the first S$75,000 deposit. NTUC Union Members are rewarded with a bonus interest of 1% p.a. on the first S$75,000 deposit.
 
wutawa

wutawa

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limjohnny said:
TRUST
BASE INTEREST 1.5% p.a.
Earn 1.5% p.a. interest rate on the first S$75,000 deposit, with no strings attached! Interest rate of 0.05% p.a. applies to balances above S$75,000.
BONUS INTEREST 0.5% to 1.5% p.a.
Simply make 5 eligible purchases with your Trust card every month to enjoy bonus interest of 0.5% p.a. on the first S$75,000 deposit. NTUC Union Members are rewarded with a bonus interest of 1% p.a. on the first S$75,000 deposit.
Click to expand...
Did u copy and paste but purposely change the bonus int to 1.5%?
Screenshot-20230316-131207-com-android-chrome.jpg
 
I

iduncheckmail

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This is like when in office someone click reply all, only to say “stop replying to all” .
Just don’t respond. The more you respond the more the topic is raised.
 
zippo1979

zippo1979

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zippo1979 said:
They could have changed their mechanics of their interest calculation to be consistent.

So:
28th Feb = They give 0.05% Base Interest for all clients
28th Feb = They give 3.75% Bonus interest for all client (based on INCREMENTAL ADB approach)
20th Mar = They give the dued Exclusive Bonus Interest for Exclusive Clients (based on full balance approach - what was already paid out on 28th Feb).

This is my guess so I will not contact my RM until I see what happens on 20th March.

As long as Item 2 + Item 3 = 3.75% p.a. on my entire Feb balance, that's fine.
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So in the end, the numbers are all correct for the 3.8% Exclusive Esaver promo.

I got:

28th Feb = 0.05% p.a. interest
28th Feb = 0.2% p.a. Bonus Interest
16th Mar = 3.55% p.a. Exclusive Bonus Interest

Total is 3.8% p.a. on ENTIRE FEBRUARY 2023 balance. Incremental Balance does not play a part at all.

From what I see, I think SCB made a fundamental change to the way they credit the interest in order to cater for the Normal and Exclusive Esaver clients.

Month End, SCB will give the base interest and 3.8% p.a. Bonus interest using the 'usual' incremental ADB method. So the Bonus interest will not make sense for Exclusive Esaver clients.

Then before 20th Mar (16th Mar in this case), SCB will calculate / make up the difference in the Exclusive Bonus interest such that Exclusive Bonus Esaver clients will get the full 3.8% p.a. interest on the ENTIRE FEBRUARY 2023 balance (Base+Bonus+Exclusive).

I will just use an Excel to keep track and as long I add up the lines and it gives me 3.8% p.a. total interest on ENTIRE balance, that's fine for me.
 
K

konan~

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zippo1979 said:
So in the end, the numbers are all correct for the 3.8% Exclusive Esaver promo.

I got:

28th Feb = 0.05% p.a. interest
28th Feb = 0.2% p.a. Bonus Interest
16th Mar = 3.55% p.a. Exclusive Bonus Interest

Total is 3.8% p.a. on ENTIRE FEBRUARY 2023 balance. Incremental Balance does not play a part at all.

From what I see, I think SCB made a fundamental change to the way they credit the interest in order to cater for the Normal and Exclusive Esaver clients.

Month End, SCB will give the base interest and 3.8% p.a. Bonus interest using the 'usual' incremental ADB method. So the Bonus interest will not make sense for Exclusive Esaver clients.

Then before 20th Mar (16th Mar in this case), SCB will calculate / make up the difference in the Exclusive Bonus interest such that Exclusive Bonus Esaver clients will get the full 3.8% p.a. interest on the ENTIRE FEBRUARY 2023 balance (Base+Bonus+Exclusive).

I will just use an Excel to keep track and as long I add up the lines and it gives me 3.8% p.a. total interest on ENTIRE balance, that's fine for me.
Click to expand...
For me, I only get 0.05% Interest at end of month and the 3.75% Exclusive Bonus Interest by 20th of following month.
 
M

maumu

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zippo1979 said:
So in the end, the numbers are all correct for the 3.8% Exclusive Esaver promo.

I got:

28th Feb = 0.05% p.a. interest
28th Feb = 0.2% p.a. Bonus Interest
16th Mar = 3.55% p.a. Exclusive Bonus Interest

Total is 3.8% p.a. on ENTIRE FEBRUARY 2023 balance. Incremental Balance does not play a part at all.

...

Month End, SCB will give the base interest and 3.8% p.a. Bonus interest using the 'usual' incremental ADB method. So the Bonus interest will not make sense for Exclusive Esaver clients.

...
Click to expand...

sorry can share how you arrive at 0.2% on 28 Feb?
 
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