Standchart eSaver

[royalmix]

do people check their base interest calculation? is it 0.05%/365 per day? I can't get it to tie and it's driving me nuts. Off by a few cents.

Did you withdraw on 30th April? Were your own calculations for April's interest exact to the cents?
Mine exact to 0.01c for April and May.

 

[Squaredot]

Anyone on the 'new e$aver signup app exclusive 4% promo' since last month?

Did you receive 3.8% or 4.0% interest?

my wife received the base interest only.
Seems it doesn't pay bonus interest like the Exclusive Bonus Interest invite? I'm not sure.

According to T&C ,
8. The Sign-up Bonus Interest shall be credited to your Qualifying Account in single or multiple credit transactions by the last day of the following month (the “Sign-Up Bonus Interest Crediting Date“), provided that your Qualifying Account remains valid and in good standing as at the Sign-up Bonus Interest Crediting Date.

Shall wait and see

 

[AlvinDj]

my wife received the base interest only.
Seems it doesn't pay bonus interest like the Exclusive Bonus Interest invite? I'm not sure.

According to T&C ,
8. The Sign-up Bonus Interest shall be credited to your Qualifying Account in single or multiple credit transactions by the last day of the following month (the “Sign-Up Bonus Interest Crediting Date“), provided that your Qualifying Account remains valid and in good standing as at the Sign-up Bonus Interest Crediting Date.

Shall wait and see

Received the base 0.05% + bonus interest 3.75% (making it 3.8%)

But not the exclusive 'Sign-Up Bonus interest' supposedly consisting of an additional 0.2% (to make up to 4%) which I'm wondering, does it work like the usual past exclusive invite interest where it credits during mid month? hmm..

 

[Squaredot]

Received the base 0.05% + bonus interest 3.75% (making it 3.8%)

But not the exclusive 'Sign-Up Bonus interest' supposedly consisting of an additional 0.2% (to make up to 4%) which I'm wondering, does it work like the usual past exclusive invite interest where it credits during mid month? hmm..

Bro, yours is normal, same as other exclusive invites I've been on for years. The balance 0.2% will be paid to your account by end of this month.
Don't know what happened to my wife's new esaver acct

 

[AlvinDj]

Bro, yours is normal. The balance 0.2% will be paid to your account by end of June.
Don't know what happened to my wife's new esaver

Oh.. Thanks for sharing...

Your partner's one could wait till Monday (tomorrow) perhaps?

I presume you did login to IB to check instead of the app?

 

[Squaredot]

Oh.. Thanks for sharing...

Your partner's one could wait till Monday (tomorrow) perhaps?

I presume you did login to IB to check instead of the app?

Yes, checked both. Only base interest credited.

 

[Hulky8]

do people check their base interest calculation? is it 0.05%/365 per day? I can't get it to tie and it's driving me nuts. Off by a few cents.

Wow to solve yr few cents headache,check your end of day balance ,add them up then divided by nos of days for that month,multiply the amt with 0:05% n divide by 365 X days of the month,,,,maybe u ll get it ,,,,however,,even if yr final answer is off by 2c,how do you resolve it with them ? better spend more time sleeping

 

[Tiger9119]

That's not the formula for base interest!

Base interest of 0.05% is calculated daily based on daily balance *0.05%/365, then add up the daily interest. Use a spread to update daily balance with built in formula, then u can easily adjust if u still cannot get it, and use it mth aft

That's not the formula for base interest!

Base interest of 0.05% is calculated daily based on daily balance *0.05%/365, then add up the daily interest. Use a spread to update daily balance with built in formula, then u can easily adjust if u still cannot get it, and use it mth after mth.

I only started doing it after I had RHB late last year, and I realised "tremendous" benefits of doing it ,

Because 2024 is a leap year, you'll most likely need to divide by 366.

 

[royalmix]

Because 2024 is a leap year, you'll most likely need to divide by 366.

wah you are already forecasting future, ie next year's interest?

 

[Tiger9119]

wah you are already forecasting future, ie next year's interest?

Isn't the interest calculated on a yearly basis, and there is an extra day in February 2024?

 

[sglandscape]

Isn't the interest calculated on a yearly basis, and there is an extra day in February 2024?

No it's based on calendar year, so /365 is correct.

 

[Mickey01]

That's not the formula for base interest!

Base interest of 0.05% is calculated daily based on daily balance *0.05%/365, then add up the daily interest. Use a spread to update daily balance with built in formula, then u can easily adjust if u still cannot get it, and use it mth after mth.

I only started doing it after I had RHB late last year, and I realised "tremendous" benefits of doing it ,

eSaver base interest is 0.05% std across full balance (not tier interest) so the ADB formula is also correct.

 

[Mickey01]

Because 2024 is a leap year, you'll most likely need to divide by 366.

this will be 2024 formula, not 2023

 

[royalmix]

eSaver base interest is 0.05% std across full balance (not tier interest) so the ADB formula is also correct.

You are right, I deleted my previous post.

Since I use spreadsheet, it is auto and can easily adjust if any day is wrong, and can see the "tremendous" benefits.

 

[AlvinDj]

Yes, checked both. Only base interest credited.

Anyway, I re-read the T&Cs pertaining to the new sign-up bonus..

Seems like there's no reference month.. Only requirement would be maintaining a minimum 50k throughout until end of Oct 2023

So since if my MAY ADB is high, looks like I wont be receiving any public 3.35% exclusive bonus interest for Jun / Jul 2023? Hmm..

 

[PC-User]

You are right, I deleted my previous post.

Since I use spreadsheet, it is auto and can easily adjust if any day is wrong, and can see the "tremendous" benefits.

I know certain accounts like OCBC 360 that needs a minimum increase in the monthly ADB to enjoy more bonus interest requires some micro managements for optimization. But care to enlighten what significant benefits by closely monitoring saving accounts like eSaver?

 

[PC-User]

...however,,even if yr final answer is off by 2c,how do you resolve it with them ? better spend more time sleeping

So true. Even a few dollars also not worth the effort.

 

[royalmix]

So true. Even a few dollars also not worth the effort.

It depends, if you can get exactly, you have a deeper understanding of how esaver works and use it to your benefit in future

 

[Assault]

It depends, if you can get exactly, you have a deeper understanding of how esaver works and use it to your benefit in future

your time is surely better spent on other endeavours than calculating the discrepancy of a few cents...

 

[royalmix]

your time is surely better spent on other endeavours than calculating the discrepancy of a few cents...

dun worry, I never encounter, always spot on with my spreadsheets! Last mth, I discovered a tremendous benefit to earn more I only helping others who have problem, I no problem, only take a few minutes as I always minimise movements! My time is spent making more money, make hay while the sun shine, every opportunity!