Standchart eSaver

[d5dude]

I'm in the till May 2023 invite, got about 95% of the BI today.

 

[Devilsire]

BI should be credited by 20th Apr. Were you on the invite also before this invite?

yup. its confusing because the bonus, exclusive bonus are credited differently for certain months, for different invites / public rate
For my examples,
31 Dec Bonus
19 Jan Exc Bonus
31 Jan Bonus
10 Feb Exc Bonus
16 Mar Exc Bonus

 

[vsvs24]

thanks ... that's what I thought !

but the CSO Jay keep quoting the currnt eSaver promo .. when I pressed for further clarification, the chat was ended abruptly !

all these exclusive invites & version etc etc really confusing to customers and their own staff

Sometimes we are clearer than bank staff.

 

[oceanicmanta]

I'm also in the Aug 2022 to Jun 2023 invite. For end Feb 2023, I received only the 0.05% interest. The BI was credited on 16 Mar 2023 in one lump sum. For end Mar, I also received the base 0.05% only. I think the BI should come in by 20th Apr.

I had 6.4k ADB for Jan2023 and 82.3k ADB for Mar 2023 (not funded in Feb23)

on 31 Mar, I received $3.49 being the 0.05% Base interest on 82.3k

another $241.7, being 3.75% * 31/365 * (82k Mar ADB less 6k Jan ADB)

soomething does not seem correct ... or i dont understand how that "Exclusive Bonus invitation" works

 

[vsvs24]

I had 6.4k ADB for Jan2023 and 82.3k ADB for Mar 2023 (not funded in Feb23)

on 31 Mar, I received $3.49 being the 0.05% Base interest on 82.3k

another $241.7, being 3.75% * 31/365 * (82k Mar ADB less 6k Jan ADB)

soomething does not seem correct ... or i dont understand how that "Exclusive Bonus invitation" works

Don't bother. Just wait till the exclusive interest is credited on 20th. Add all together and tie to your expected interest.

 

[sohguanh]

why not use hsbc ega which gives higher 4.5% ? am i missing something ?

2k minimum balance

 

[konan~]

yup. its confusing because the bonus, exclusive bonus are credited differently for certain months, for different invites / public rate
For my examples,
31 Dec Bonus
19 Jan Exc Bonus
31 Jan Bonus
10 Feb Exc Bonus
16 Mar Exc Bonus

Never mind. So long the correct amount come in can already. I probably got to wait until end May when my invite expires to receive another invite.

 

[maumu]

I had 6.4k ADB for Jan2023 and 82.3k ADB for Mar 2023 (not funded in Feb23)

on 31 Mar, I received $3.49 being the 0.05% Base interest on 82.3k

another $241.7, being 3.75% * 31/365 * (82k Mar ADB less 6k Jan ADB)

soomething does not seem correct ... or i dont understand how that "Exclusive Bonus invitation" works

Don't bother. Just wait till the exclusive interest is credited on 20th. Add all together and tie to your expected interest.

yeah SC eSaver thingy is really quite a mess. dunno how they break down their BI into.

 

[oceanicmanta]

Don't bother. Just wait till the exclusive interest is credited on 20th. Add all together and tie to your expected interest.

from Oct22 to Jan23, the interests (base + prevailing) credited on last day of every month tallied to the invited rates of 1.8% n 3.8%

as such have never received a third credit of interest on 20th

this Mar Bonus Interest crediting seems to be using the current public eSaver mechanism .. referencing Jan ADB

CSO say have to ask relevant dept which takes 5 work days and my Apr ADB will b compared to Mar ADB for the Bonus Interest ... with that I emptied my eSaver !!

 

[vsvs24]

from Oct22 to Jan23, the interests (base + prevailing) credited on last day of every month tallied to the invited rates of 1.8% n 3.8%

as such have never received a third credit of interest on 20th

this Mar Bonus Interest crediting seems to be using the current public eSaver mechanism .. referencing Jan ADB

CSO say have to ask relevant dept which takes 5 work days and my Apr ADB will b compared to Mar ADB for the Bonus Interest ... with that I emptied my eSaver !!

Because previous cycles invite rate was higher than public rate. When it became same as public rate 3.8%, I think their system seems mess up.

If you look back at beginning Mar, a few people had the same issue. But when the exclusive interest came in, total ties up.

 

[Mickey01]

I had 6.4k ADB for Jan2023 and 82.3k ADB for Mar 2023 (not funded in Feb23)

on 31 Mar, I received $3.49 being the 0.05% Base interest on 82.3k

another $241.7, being 3.75% * 31/365 * (82k Mar ADB less 6k Jan ADB)

soomething does not seem correct ... or i dont understand how that "Exclusive Bonus invitation" works

not to worry .... everything will tie in by 20th Apr. I have had such BI credit formula before - Dec 2022 & Jan 2023.

 

[Hulky8]

not to worry .... everything will tie in by 20th Apr. I have had such BI credit formula before - Dec 2022 & Jan 2023.

Wonder why Scb doesn’t want to make things easier for both customers n staff..
Just 1 central payment of 3.8% or rates promised on individual e-mail at month end?
Will save lots of query I m sure

 

[DevilPlate]

Wonder why Scb doesn’t want to make things easier for both customers n staff..
Just 1 central payment of 3.8% or rates promised on individual e-mail at month end?
Will save lots of query I m sure

HSBC, RHB also randomly delay their bonus crediting.

so far Esaver i received between 16-18 every month.

 

[sohguanh]

HSBC, RHB also randomly delay their bonus crediting.

so far Esaver i received between 16-18 every month.

Maybank iSavvy between 5-10 of the following month for bonus interest

 

[sohguanh]

Wonder why Scb doesn’t want to make things easier for both customers n staff..
Just 1 central payment of 3.8% or rates promised on individual e-mail at month end?
Will save lots of query I m sure

Becuz they chut pattern to target some customers as priority and give different treatment. As software developer the more pattern the tougher it is for us to get it right as more scenarios to handle. This is bank marketing strategy and IT implement to fulfilled their promise to customers.

 

[wutawa]

2k minimum balance

just leave $0 balance lor

 

[travbug]

Just sharing this is how I managed to recompute my esaver interest in the last few months, and I'm on the 3.8% email invite.

2 types of interest credited at end of month
#1. CR interest - this is the 0.5% base interest on ADB
#2. Bonus interest - this is the interest computation based on public promo scheme available at the point in time. So for example, for the interest credited on 31 Mar, it will be 3.75% x (Mar ADB - Jan ADB) x 31/365 days. So if there is no incremental ADB for the 2 months being compared, you will get 0 bonus interest.

3rd interest credited in the following month
#3. Exclusive bonus interest - this is for those with email invites. It will pay you the remaining interest that you are entitled to. So it will be (3.75% x ADB x no of days in month divided by 365) minus interest already paid in #2 above

When I add up interest paid in #1, #2 and #3, it tallied to the 3.8% interest specified in my email invite.

Note: 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

 

[maumu]

Just sharing this is how I managed to recompute my esaver interest in the last few months, and I'm on the 3.8% email invite.

2 types of interest credited at end of month
#1. CR interest - this is the 0.5% base interest on ADB
#2. Bonus interest - this is the interest computation based on public promo scheme available at the point in time. So for example, for the interest credited on 31 Mar, it will be 3.75% x (Mar ADB - Jan ADB) x 31/365 days. So if there is no incremental ADB for the 2 months being compared, you will get 0 bonus interest.

3rd interest credited in the following month
#3. Exclusive bonus interest - this is for those with email invites. It will pay you the remaining interest that you are entitled to. So it will be (3.75% x ADB x no of days in month divided by 365) minus interest already paid in #2 above

When I add up interest paid in #1, #2 and #3, it tallied to the 3.8% interest specified in my email invite.

Note: 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

thanks! your explanation tallies with my interests credited on 31 March

so we'll just have to wait for the remaining 'balance' to be credited by 20 April.

 

[oceanicmanta]

Just sharing this is how I managed to recompute my esaver interest in the last few months, and I'm on the 3.8% email invite.

2 types of interest credited at end of month
#1. CR interest - this is the 0.5% base interest on ADB
#2. Bonus interest - this is the interest computation based on public promo scheme available at the point in time. So for example, for the interest credited on 31 Mar, it will be 3.75% x (Mar ADB - Jan ADB) x 31/365 days. So if there is no incremental ADB for the 2 months being compared, you will get 0 bonus interest.

3rd interest credited in the following month
#3. Exclusive bonus interest - this is for those with email invites. It will pay you the remaining interest that you are entitled to. So it will be (3.75% x ADB x no of days in month divided by 365) minus interest already paid in #2 above

When I add up interest paid in #1, #2 and #3, it tallied to the 3.8% interest specified in my email invite.

Note: 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

if only the CSO explained it this way, I wld have accepted it

they really beat around the bush with this process

... especially my invite rate n public rate are the same

might as well move to other eSaver to get public rate & total interest earlier

 

[travbug]

thanks! your explanation tallies with my interests credited on 31 March

so we'll just have to wait for the remaining 'balance' to be credited by 20 April.

Yes, this is how I think they compute the interests.

If you like, you can try to recompute Feb interest to see if my theory is correct, by changing the days computation to 28/365 days. So, for Feb interest,

Bonus interest credited on 28/2 = 3.75% x (Feb ADB - Jan ADB) x 28/365 days
Exclusive interest credited in March = 3.75% x Feb ADB x 28/365 days minus Bonus interest already received