Standchart eSaver

[V_for_Vanilla]

Maybe can move out on 31 Aug.

Mine ended in July, and SCB offer new promo in early Aug. Condition: 100k above 31 July balance on 31 August.
Promo rate : 3.65% till 31 Jan 24.



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Mine ended in July. But since my 31 July balance is relatively high, the new promo not feasible to me.

 

[Hulky8]

Me think SCB ll still extend after Aug,maybe at lower rate ,say,3.5%
mine ending Aug but global int rate still high n esp t/bill still hovers at 3.75% around
but wait for their email,,,,likely few days be4 end Aug it will come n extend another 3mths or so,my feel

 

[ahchan]

Me think SCB ll still extend after Aug,maybe at lower rate ,say,3.5%
mine ending Aug but global int rate still high n esp t/bill still hovers at 3.75% around
but wait for their email,,,,likely few days be4 end Aug it will come n extend another 3mths or so,my feel

Yes, I would think they will still extend but usually they only inform on the new promotion when already into September, which is a bit late, if the promotion is not good.

Anyway, just message RM and she said nothing can be checked now. So I told her, in that case, shall start to move out my funds when closer end Aug. Then she immediately said will check with relevant team and see if can get anything from them. Not sure if really true or just trying to shut me off

But anyway, I think there are other banks which are offering welcome perks for their premier/priority banking program. Any recommendations from the experts here ? Pls do help to share.

Thank you in advance.

 

[CaptainWu]

Me think SCB ll still extend after Aug,maybe at lower rate ,say,3.5%
mine ending Aug but global int rate still high n esp t/bill still hovers at 3.75% around
but wait for their email,,,,likely few days be4 end Aug it will come n extend another 3mths or so,my feel

My wife one 4% going to be ended by Aug and I don't think they will extend given that other banks like HSBC also stopped, if they are continuing with the eSaver one with 2 months cycle that is already better than HSBC.

 

[rubicon]

if I move out from esaver and wealthsaver on 31 August, I still collect all the interest I'm entitled to for the month of August, right?

 

[sglandscape]

if I move out from esaver and wealthsaver on 31 August, I still collect all the interest I'm entitled to for the month of August, right?

Yes

 

[saintgtril]

Yes, I would think they will still extend but usually they only inform on the new promotion when already into September, which is a bit late, if the promotion is not good.

Anyway, just message RM and she said nothing can be checked now. So I told her, in that case, shall start to move out my funds when closer end Aug. Then she immediately said will check with relevant team and see if can get anything from them. Not sure if really true or just trying to shut me off

But anyway, I think there are other banks which are offering welcome perks for their premier/priority banking program. Any recommendations from the experts here ? Pls do help to share.

Thank you in advance.

Hi, your RM will buck up her socks by providing you prompt service, then to take you for granted. Smart of you to let her know your intention.

 

[CaptainWu]

As my current eSaver promotion will be ended by 31 Aug so am thinking to move out the fund to other bank on 1 Sep, but 1 Sep now is a declared holiday and if I am correct there will be no interest for fund moving out at holiday? Any guru to advice?

 

[sglandscape]

As my current eSaver promotion will be ended by 31 Aug so am thinking to move out the fund to other bank on 1 Sep, but 1 Sep now is a declared holiday and if I am correct there will be no interest for fund moving out at holiday? Any guru to advice?

That is correct so if your other place pays high interest from 31 Aug onwards (say CIMB) move it on 31st Aug instead

 

[rubicon]

anyone received the 3.65% promotion? it's on the entire balance for five months right?

 

[d5dude]

anyone received the 3.65% promotion? it's on the entire balance for five months right?

I think I got the same invite. 3.65% for 5 months if top up (vs Aug 31 balance) is at least 100k. No lock in.

 

[crossfitter]

This is the promo email and it’s definitely in response to the cimb promotion. They are even giving you time to transfer money out by 31 Aug so that your Aug end of mth balance can be lower and your balance for the next 5 mths qualifies for the bonus interest component.


Dear Sir,

As our valued client, you can earn up to 3.65% p.a. interest for 5 months on your e$aver balances.

From now till 31 January 2‌024, you will earn interest on balances in your eligible e$aver account(s) in the manner as set out below.

Simply top up your account with fresh funds^ of minimum S$100,000 by 30 September2‌023, such that your deposit balance on 30 September 2‌023 is at least S$100,000 higher as compared to your deposit balance on 31 August 2‌023, to qualify for the promotion.

 

[rubicon]

is the end Sep vs end Aug based on last day or average daily for the month?

how to interpret what fresh funds means?

 

[maumu]

so good. didn't get the invite... but I'm currently on the 3.55% promo until end Sep

maybe it's targeted at those whose balance is low right now. if only they extend for me. but there's this point stated in the current 3.55% promo:

1. Notwithstanding Clause 4 above, in the event that the bank offers to the Bank’s other customers holding Eligible Account(s), a bonus interest rate higher than Bonus Interest Rate (“Higher Bonus Interest Rate“) for any e$aver bonus interest promotion, indicated on our website as open to all Eligible Account(s) held during the Promotion Period, your Bonus Interest for that month will be computed at such Higher Bonus Interest Rate, subject to these terms.

So I'm wondering for September I'll get to enjoy the newer / higher rate.

 

[CaptainWu]

This is the promo email and it’s definitely in response to the cimb promotion. They are even giving you time to transfer money out by 31 Aug so that your Aug end of mth balance can be lower and your balance for the next 5 mths qualifies for the bonus interest component.

Look like it and SCB normally do not compare end month balance but ADB so this round is different?

 

[Mickey01]

so good. didn't get the invite... but I'm currently on the 3.55% promo until end Sep

maybe it's targeted at those whose balance is low right now. if only they extend for me. but there's this point stated in the current 3.55% promo:

1. Notwithstanding Clause 4 above, in the event that the bank offers to the Bank’s other customers holding Eligible Account(s), a bonus interest rate higher than Bonus Interest Rate (“Higher Bonus Interest Rate“) for any e$aver bonus interest promotion, indicated on our website as open to all Eligible Account(s) held during the Promotion Period, your Bonus Interest for that month will be computed at such Higher Bonus Interest Rate, subject to these terms.

So I'm wondering for September I'll get to enjoy the newer / higher rate.

your invite will follow the higher rate offered to all public BI promo .............. the 3.65% is by invite (not counted)

 

[maumu]

your invite will follow the higher rate offered to all public BI promo .............. the 3.65% is by invite (not counted)

oh. okay too bad then, just have to stick to 3.55% and see what happens end of next month...

 

[sellipad2]

https://www.sc.com/sg/terms-and-conditions/esav-s23/
I received it too, 3.65% till jan 2024, save effort of merry go round, and high cap of $5mil too compared to usual $1m

 

[crossfitter]

It’s based on the month end balance of aug and not average daily balance. This promotion and the previous promotion (by invite) has been based on the month end balance and not average daily balance

1. you must deposit fresh funds of minimum S$100,000 into your Eligible Account(s), such that the end-of-day deposit balance on 30 September 2023 is at least S$100,000 higher than the end-of-day deposit balance on 31 August 2023. “Fresh funds” means funds that do not originate from any existing account with the Bank or funds that are not withdrawn and re-deposited within 30 days of the Promotion Period; and

 

[rubicon]

it says must be fresh funds...means cannot withdraw and put back 30 days before 1 Sep?