Standchart eSaver

[PC-User]

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

A bit kua zhang ba. Last time even when I was using 360 I also never managed to the extent of using excel. I just kept an ADB of around +500 comparing to previous month throughout the month. Then just calculated and did one time adjustment on the last working day of the month. Never missed.

When people always mock boomers updating their bank passbooks, they themselves use excel to track their bank accounts.

 

[royalmix]

A bit kua zhang ba. Last time even when I was using 360 I also never managed to the extent of using excel. I just kept an ADB of around +500 comparing to previous month throughout the month. Then just calculated and did one time adjustment on the last working day of the month. Never missed.

When people always mock boomers updating their bank passbooks, they themselves use excel to track their bank accounts.

It is a personal choice or preference, just like I will not use OCBC360 as you have to spend time managing and monitoring, all those accounts which need you to jump hooks/loops, I bet you spend more time than me with my automated spreadsheets where my interests are guaranteed, while you have to sweat and keep your fingers crossed!

 

[PC-User]

It is a personal choice or preference, just like I will not use OCBC360 as you have to spend time managing and monitoring, all those accounts which need you to jump hooks/loops, I bet you spend more time than me with my automated spreadsheets where my interests are guaranteed, while you have to sweat and keep your fingers crossed!

My thought is actually since you're excel type of guy, those types of account is better suit you mah. Why use excel already but stick to simpler accounts? Doesn't make sense.

One doesn't need to spend more time with 360. Throughout the month just need to agak agak estimate the ADB+. Month end do a one time calculation with very basic mathematics. You'll get the exact amount to transfer in/out. Optimized. Never miss. Why fingers crossed?? If only I still get salary now I'll sure continue using 360 to get the minimum 4.05%, no sweat.

 

[royalmix]

My thought is actually since you're excel type of guy, those types of account is better suit you mah. Why use excel already but stick to simpler accounts? Doesn't make sense.

One doesn't need to spend more time with 360. Throughout the month just need to agak agak estimate the ADB+. Month end do a one time calculation with very basic mathematics. You'll get the exact amount to transfer in/out. Optimized. Never miss. Why fingers crossed?? If only I still get salary now I'll sure continue using 360 to get the minimum 4.05%, no sweat.

Good for you then. Just read how others are sweating in those accounts!

I also easily more than 4%pa, and use excel for many purposes to my benefit, as and when I like it,

 

[EveMuffins]

I just received invite for 3.5% on ABD from 1 jun to 31 aug. condition is ABD for jun/jul/aug must not be lower than May.

 

[stevenlsf]

I just received invite for 3.5% on ABD from 1 jun to 31 aug. condition is ABD for jun/jul/aug must not be lower than May.

did you receive this from your RM, or SMS or email? Thanks.

 

[EveMuffins]

did you receive this from your RM, or SMS or email? Thanks.

I received the SMS

 

[vsvs24]

I just received invite for 3.5% on ABD from 1 jun to 31 aug. condition is ABD for jun/jul/aug must not be lower than May.

The ADB condition seems new

 

[stevenlsf]

I received the SMS

thanks I didn't receive any. Mine promotion period is ended by May.

 

[ckman3]

I just received invite for 3.5% on ABD from 1 jun to 31 aug. condition is ABD for jun/jul/aug must not be lower than May.

Is it ADB or the minimum amount at end of each month of the promotion period that must match or exceed the reference 31 May end of day amt in order to qualify for the bonus interest?

 

[EveMuffins]

Is it ADB or the minimum amount at end of each month of the promotion period that must match or exceed the reference 31 May end of day amt in order to qualify for the bonus interest?

may I know what's the difference between amount at end of each month and ADB?

my T&C:
you must maintain your end-of-day deposit balance on 31 May 2023 (“Minimum Balance”) in your Eligible Account(s) throughout the Promotion Period, such that the end-of-day deposit balance on 30 June 2023, 31 July 2023 and 31 August 2023 is not lower than the Minimum Balance.

does it mean for example, I have $5k on 31 May, so long I have $5,001 on 30 Jun/31 Jul/31 Aug, I'll be eligible for 3.5% even though I only have $1k on some days?

 

[Guojing88]

I received the SMS

Ironically, I only received their SMS warning me not to believe any SMS promised FD promotions

 

[paurusu]

may I know what's the difference between amount at end of each month and ADB?

my T&C:
you must maintain your end-of-day deposit balance on 31 May 2023 (“Minimum Balance”) in your Eligible Account(s) throughout the Promotion Period, such that the end-of-day deposit balance on 30 June 2023, 31 July 2023 and 31 August 2023 is not lower than the Minimum Balance.

does it mean for example, I have $5k on 31 May, so long I have $5,001 on 30 Jun/31 Jul/31 Aug, I'll be eligible for 3.5% even though I only have $1k on some days?

31 May 2023 deposit balance to be maintained throughout the Promotion period. The subsequent wordings after comma is a bit misleading - I will say. You can try asking Contact centre or their chat agent if you need clarification (and hopefully they give the correct advice).

However - it doesn't make sense to withdraw your money in the first place regardless of how it was worded, assuming you want the higher interest. Banks always calculate interest (or bonus) based on ADB (monthly) or daily balance. So in either scenario - you won't get your good interest on other days when your balance is pushed down. No bank will ever calculate interest on a single date to determine monthly interest.

 

[Maserati]

Hi anyone recently sign up new esaver account for the priority banking before 31 may ?
Is there a comfirmation or some sort to inform the account is Qualified for the promotion until 31Nov?

 

[travbug]

I also received the sms invite, but only for bonus interest of 3.35%, ie total 3.4%.

The full terms and conditions of the sms invite can be found in scb website by searching #jn23. It seems that there are 2 types of invites termed phase A and phase B. Phase A gets 3.5% whereas Phase B gets 3.4%.

 

[royalmix]

No bank will ever calculate interest on a single date to determine monthly interest.

Do you have DBS multiplier?

 

[Mickey01]

I also received the sms invite, but only for bonus interest of 3.35%, ie total 3.4%.

The full terms and conditions of the sms invite can be found in scb website by searching #jn23. It seems that there are 2 types of invites termed phase A and phase B. Phase A gets 3.5% whereas Phase B gets 3.4%.

This Jun 2023 BI invite seems to be more restrictive compared to the previous 2022/early 2023 BI invites. I guess SCB is more savvy now. Need you to maintain the minimum balance (compared to May 2023) to qualify for BI.

In the previous invite, once you top up with fresh funds ($100k for example) in Jun (for example) and qualify for BI for next XXX months, you can move funds in and out for the next XXX months. The lower remainaing balance still qualify for the BI.

 

[ahnyaahnya]

If open the esaver account, what is the minimum balance to avoid fall below fees ?

 

[EveMuffins]

31 May 2023 deposit balance to be maintained
throughout
the Promotion period. The subsequent wordings after comma is a bit misleading - I will say. You can try asking Contact centre or their chat agent if you need clarification (and hopefully they give the correct advice).
However - it doesn't make sense to withdraw your money in the first place regardless of how it was worded, assuming you want the higher interest. Banks always calculate interest (or bonus) based on ADB (monthly) or daily balance. So in either scenario - you won't get your good interest on other days when your balance is pushed down. No bank will ever calculate interest on a single date to determine monthly interest.

I've no intention to withdraw my funds for the next few months..however, my ADB for 1-5 Jun was only $1k which was lower than 31 May. I moved funds back in on 6 Jun upon receiving the invite so I'm not sure if I'm still eligible for 3.5% in Jun.

 

[royalmix]

I've no intention to withdraw my funds for the next few months..however, my ADB for 1-5 Jun was only $1k which was lower than 31 May. I moved funds back in on 6 Jun upon receiving the invite so I'm not sure if I'm still eligible for 3.5% in Jun.

My interpretation is same as yours, so long last day of mth balance >= 31 May, you will get bonus interest. If you are worried, chat with scb, if there is a chat in the app, me not an app user nor did I receive the invite. Even if I get invite, I will still keep my funds with another bank more than 4%