Standchart eSaver

[Devilsire]

be careful of fresh funds clause

well unless they've revamped their system, old timers merry-go-rounding between 2 esavers every 2mths are well aware how their "fresh fund" works

 

[crossfitter]

The fresh funds clause is different this time as it states: Fresh funds” means funds that do not originate from any existing account with the Bank or funds that are not withdrawn and re-deposited within 30 days of the Promotion Period;

That literally means if you withdraw during Aug, it would not count as fresh funds even if your sept balance is higher than the Aug mth end balance.

Have asked the CSO on this and he said he will get back to me.

 

[Devilsire]

The fresh funds clause is different this time as it states: Fresh funds” means funds that do not originate from any existing account with the Bank or funds that are not withdrawn and re-deposited within 30 days of the Promotion Period;

That literally means if you withdraw during Aug, it would not count as fresh funds even if your sept balance is higher than the Aug mth end balance.

Have asked the CSO on this and he said he will get back to me.

well the vanilla esaver bonus interests are also all-along subjected to the "30days fresh funds" in its tnc
to break the news, some (including myself) have been merry go-rounding between 2 esaver accounts DIRECTLY under same name for years when they were one of the leading products, and BI credits as usual if that explains anything

of course i understand your concerns abt the fresh funds, at least from the black & white t&c.

 

[rubicon]

well the vanilla esaver bonus interests are also all-along subjected to the "30days fresh funds" in its tnc
to break the news, some (including myself) have been merry go-rounding between 2 esaver accounts DIRECTLY under same name for years when they were one of the leading products, and BI credits as usual if that explains anything

of course i understand your concerns abt the fresh funds, at least from the black & white t&c.

how does the vanilla fresh funds clause work?

 

[Devilsire]

how does the vanilla fresh funds clause work?

https://www.sc.com/sg/save/savings-accounts/esaver/

Sent from Poco F3 using EDMWER app!

 

[yiron]

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

sad, didn’t get targeted for this.

 

[i_dun_understand]

the invitation is via email or notification in the app ?

 

[Mickey01]

sad, didn’t get targeted for this.

Actually the Aug 2023 Invite same as the Sep 2023 invite
Aug 2023 Invite - 0.05% base + 3.6% BI, top up fresh funds at least $100k 31 Aug compared to 31 Jul to participate. Once qualify, the invite last from Aug 2023 to end Jan 2024; max of $5 million

 

[sglandscape]

sad, didn’t get targeted for this.

seems like targeted to those coming off the 4% promo that is ending

 

[yiron]

Actually the Aug 2023 Invite same as the Sep 2023 invite
Aug 2023 Invite - 0.05% base + 3.6% BI, top up fresh funds at least $100k 31 Aug compared to 31 Jul to participate. Once qualify, the invite last from Aug 2023 to end Jan 2024; max of $5 million

seems like targeted to those coming off the 4% promo that is ending

I only got targeted for 3.75% until Jun 2023, after that no luck at all

 

[ahchan]

the invitation is via email or notification in the app ?

For my case, the RM informed me but I told him I did not get any SMS.
Anyway, he said I am eligible as he has helped me check with their back end.

After that, I noted that there is "notification" in the SC APP that mention about eligibility for the promotion.
But it did not specify which account is eligible. (I have 2 eSaver accounts)

So may I check with those who got the promotion of 3,65% from Sep to Jan, did you get SMS, email or notification from app. And does the invitation mention which account is eligible ?

Thanks.

Below is my promotion link:
https://www.sc.com/sg/terms-and-conditions/esav-s23/

 

[Goodintentions]

The bonus interest is interesting till I see its 100K balance at least and by invitation only somemore.

Dunno why you guys keep chasing after these kind of promos, when it was 4.1% for 2 years FD with min. 20K before, no need to keep chasing.

 

[sglandscape]

For my case, the RM informed me but I told him I did not get any SMS.
Anyway, he said I am eligible as he has helped me check with their back end.

After that, I noted that there is "notification" in the SC APP that mention about eligibility for the promotion.
But it did not specify which account is eligible. (I have 2 eSaver accounts)

So may I check with those who got the promotion of 3,65% from Sep to Jan, did you get SMS, email or notification from app. And does the invitation mention which account is eligible ?

Thanks.

Below is my promotion link:
https://www.sc.com/sg/terms-and-conditions/esav-s23/

SMS

 

[Mickey01]

The bonus interest is interesting till I see its 100K balance at least and by invitation only somemore.

Dunno why you guys keep chasing after these kind of promos, when it was 4.1% for 2 years FD with min. 20K before, no need to keep chasing.

you never know that those who are interested in this eSaver by invite promo have already locked in many 2 year FD at 4.1% and now they are trying to achieve the highest savings rate for the spare/emergency cash which is floating around.

 

[ckman3]

With new invitation promotion, those with high balance may want to move them out today, 30 Aug so as to maintain a low End of Day balance on 31 Aug. This will allow a more flexible use of your funds in subsequent months and just need to match the End of Month balance with that of 31 Aug and enjoy the BI too. As mentioned earlier, need 100K to activate this promo.

 

[Buzy_bee]

So may I check with those who got the promotion of 3,65% from Sep to Jan, did you get SMS, email or notification from app. And does the invitation mention which account is eligible ?

Thanks.

Below is my promotion link:
https://www.sc.com/sg/terms-and-conditions/esav-s23/

Email. Mine didn't mention the account number.


Only said

"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."

 

[PC-User]

KNS, simi sai invitation also always bo receive.

 

[Hulky8]

With new invitation promotion, those with high balance may want to move them out today, 30 Aug so as to maintain a low End of Day balance on 31 Aug. This will allow a more flexible use of your funds in subsequent months and just need to match the End of Month balance with that of 31 Aug and enjoy the BI too. As mentioned earlier, need 100K to activate this promo.

The fresh fund clause stipulates fresh fund means not withdrawing from esavvy then redepositing within 30 days of promotion period….so does that means ,today,30th Aug I withdraw 100k from Savvy
then redeposit in on 30th sept would qualify me for the new 3.65% promotion….anyone else can help
cause today seem last day to act on this

 

[zippo1979]

The bonus interest is interesting till I see its 100K balance at least and by invitation only somemore.

Dunno why you guys keep chasing after these kind of promos, when it was 4.1% for 2 years FD with min. 20K before, no need to keep chasing.

You cannot compare Fixed Deposit (locked cannot touch) with Savings accounts (can withdraw and add anytime).

Also, most of us already have Fixed Deposits locked at good rates and we still have more money that we like to keep liquid with high interest rates.

 

[yiron]

The bonus interest is interesting till I see its 100K balance at least and by invitation only somemore.

Dunno why you guys keep chasing after these kind of promos, when it was 4.1% for 2 years FD with min. 20K before, no need to keep chasing.

Cos liquidity. Already have other funds that are locked up.