Standchart eSaver

[Goodintentions]

esaver may be 0.08% lower than gxs, but easier to handle fund transfers to different bank accounts, scheduled transfers, and don't need to remember to transfer into pocket

You forgot that SC requires a min. balance, and then have to maintain for 6 months before you can terminate the account without penalty for new sign ups. GXS does not require all this. Pros and cons.

 

[wutawa]

You forgot that SC requires a min. balance, and then have to maintain for 6 months before you can terminate the account without penalty for new sign ups. GXS does not require all this. Pros and cons.

just keep the balance $0 to avoid fall-below fee

 

[havetheveryfun]

very sad that FED increased rates 2 times recently but banks' rates dropped or maintain the same only.

 

[CaptainWu]

very sad that FED increased rates 2 times recently but banks' rates dropped or maintain the same only.

They all foresee it won't go up any more and trend down the interest rate...as long as all banks do the same we have lesser and lesser choice

 

[havetheveryfun]

They all foresee it won't go up any more and trend down the interest rate...as long as all banks do the same we have lesser and lesser choice

they trend down would be start of next year, thats why if FD like 6-12 months lower rates can understand.. but like eSaver 2 months promo and 3-mth FD a while back was always higher rates but now also like same as the long term rates..

(i mean i had hoped short term rates like eSaver would be higher cos only 2 months)

 

[twosix]

Local banks have too much cash, not many borrowers. This is not good for the economy as businesses are not spending more money.

 

[DevilPlate]

Because 2yr fixed mortgage only ~3.5% and yet Sora is ~3.7%

 

[GrandJedi]

they trend down would be start of next year, thats why if FD like 6-12 months lower rates can understand.. but like eSaver 2 months promo and 3-mth FD a while back was always higher rates but now also like same as the long term rates..

(i mean i had hoped short term rates like eSaver would be higher cos only 2 months)

Banks take your money to apply Tbills.. Zero risk for them. Literally free money for the banks.

 

[BlackTortoise]

I deposited $220,000 in 01 July. Today where should my fund move to?

 

[tweeety]

is scb esaver still the best place for higher interest?

 

[addict951]

Guys, isavvy 3.5% (>=200K ABD, else 3.3% for balances below) ish back for Aug & Sep (vs July balance). Head down to Maybank thread for leescussion
Good for esavers ppl who have to empty their accounts today

 

[sglandscape]

they trend down would be start of next year, thats why if FD like 6-12 months lower rates can understand.. but like eSaver 2 months promo and 3-mth FD a while back was always higher rates but now also like same as the long term rates..

(i mean i had hoped short term rates like eSaver would be higher cos only 2 months)

negative, system is generally more flushed as SGD money supply has grown so banks don't have to pay up too much to attract funds. UOB did mention this at their earnings announcement.

Banks also do not like to lock in the FD for 6-12m if they cannot grow any loans, and if rates are gradually trending now.

 

[sglandscape]

very sad that FED increased rates 2 times recently but banks' rates dropped or maintain the same only.

SGD and USD rates have slightly different dynamics. Can only look at MAS why thats the case.

 

[pearl_ml]

i have registered for the esaver last weekend and account is now opened. i just need to transfer fresh funds from other bank to esaver account and able to get the 3.4 interest starting from aug to sep 2023?

 

[sglandscape]

i have registered for the esaver last weekend and account is now opened. i just need to transfer fresh funds from other bank to esaver account and able to get the 3.4 interest starting from aug to sep 2023?

Yes correct. Since its a new account don't have to even check the July ADB

 

[raidorz]

The 0.05% base interest not in yet?

 

[sglandscape]

The 0.05% base interest not in yet?

Try desktop app, should be in already.

 

[Devilsire]

The 0.05% base interest not in yet?

Bonus + Base in, try desktop

 

[BlackTortoise]

Bonus + Base in, try desktop

Why my bonus interest was only $45 despite I emptied full tank on 01 June and pumped full tank $200,000 on 01 July?

 

[sglandscape]

Why my bonus interest only $45 despite I emptied full tank in 31 June and pumped full tank $200,000 in 01 July?

There is no 31 June. Also it's incremental balance against ADB for June, not just last day of June. If you're new to this, please ask more questions or read the TnC to understand the mechanics better otherwise will lugi and let the bank benefit.