Standchart eSaver

[CrashWire]

Im still sticking to my more primitive way of using banking apps for my main accounts on a spare phone that has no communication apps (whatsapp etc) or data plan / sim card. Meanwhile, the banking app on my day to day phone is just a throw away account with a max of $150.

But your spare phone still has wifi access? Is your spare phone on the latest iOS/Android version?

Would it be possible that someone who has backdoor access to your phone could wait until your spare phone connects to the internet (when you turn it on), then do the hijacking then?

 

[welcomesir]

Just curious, if I deposited $20,000 for an eSaver promotion on 1st April 2024, and then withdrew $5,000 on 15th April 2024, would I still receive 3.45% interest on the remaining $15,000 from 16th April to 30th May 2024?

 

[MiloMocha]

Just curious, if I deposited $20,000 for an eSaver promotion on 1st April 2024, and then withdrew $5,000 on 15th April 2024, would I still receive 3.45% interest on the remaining $15,000 from 16th April to 30th May 2024?

You will receive the eSaver bonus interest when your average daily balance (ADB) in April is higher than your ADB in March, and only on the incremental balance. The interest calculation is based on the average balance throughout the month.

 

[laladuck]

Has anyone received the special invitation for May 24? Wonder if there is any.....

 

[sglandscape]

Has anyone received the special invitation for May 24? Wonder if there is any.....

Usually end of the month, or start of the new month

 

[~sabaisabai~]

You will receive the eSaver bonus interest when your average daily balance (ADB) in April is higher than your ADB in March, and only on the incremental balance. The interest calculation is based on the average balance throughout the month.

may i know the bonus interest promo till when?

 

[~sabaisabai~]

Esaver - promo is usually valid for 2 mths only, bonus interest is based on incremental ADB compared to Mar (for current promo). Min ADB is 1k to avoid fall below fee, but you can keep zero to avoid it too.

You need to transfer money out after 2 mths as it no longer enjoy bonus interest, unlike Maribank!

but i read the tnc it has fall below fee of $5 if failed to maintain 1k for 6mths?

 

[~sabaisabai~]

Wah, for a moment I thought SCB changed tnc! I just checked, if adb fall below $1k, you will be charged $5.

How do you interpret this tnc? Actual practice, I keep zero balance at end of mth, nothing for them to deduct, no fall below fee. Dun fund until the next business day bank business hours.

Some other banks also practice this interpretation, keep zero on last day, no fall below fee - eg ocbc360.

I have 2 accounts, I have to keep zero to make my money work harder elsewhere! Maybe because I do this, I never get invited!

Current promo is for April/May!

Oh.. okay if that works
For OCBC, if zero for 6mths they will auto close..
For sing finance, so far I also leave it zero, nothing for them to deduct.
Oh promo from april-may? means left only 1mth for the bonus interest
I am late for party

 

[sohguanh]

Oh.. okay if that works
For OCBC, if zero for 6mths they will auto close..
For sing finance, so far I also leave it zero, nothing for them to deduct.
Oh promo from april-may? means left only 1mth for the bonus interest
I am late for party

If you think they will start new promo in Jun 2024 keep your May 2024 adb low. This mean only left a few days in Apr 2024 to put.

 

[~sabaisabai~]

If you think they will start new promo in Jun 2024 keep your May 2024 adb low. This mean only left a few days in Apr 2024 to put.

thanks

 

[~sabaisabai~]

I just keep account active, I have it for donkey years liao at zero!
Not late, promo only 2 mths, I leave zero 2 accounts cos I can earn more elsewhere. I might be back for May only, still good!
Now I am with hsbc ega 4.5%, is better but BI credited 2 mths later. (I answer you here)
Open esaver now still worth, earn BI from now till May, you get April BI on 1May. Then think about it in June comparing new promos of banks in June! Your money is not locked in, all flexibilty to more around/

thank you

 

[linusz]

Usually end of the month, or start of the new month

nothing yet for those on special invite till April?

 

[maumu]

nothing yet for those on special invite till April?

no, I'm also waiting... keeping fingers crossed. if not go back HSBC EGA again for new cycle.

 

[ctan84]

nothing yet for those on special invite till April?

Not so fast one. Usually last day of this month or 1st working day of next.

 

[wira]

am also planning move to EGA if eSaver no promotion after April

 

[ManchesterUnited24]

Hi all, just signed up for this esaver account yesterday just for the promo. Late to the game….Anyone know what is the best strategy to max out the benefit of this promo?

for my case, since now is already 28/4, should I just leave my bank account as $0 and wait till 1May to start depositing money in?

 

[lzydata]

Hi all, just signed up for this esaver account yesterday just for the promo. Late to the game….Anyone know what is the best strategy to max out the benefit of this promo?

for my case, since now is already 28/4, should I just leave my bank account as $0 and wait till 1May to start depositing money in?

Every day you have the incremental fresh funds in your eSaver, it earns interest, including Sundays and public holidays. No need to wait.

 

[highsulphur]

Isn't the current promotion for April and may?

 

[sibeiTrolled]

Hi all, just signed up for this esaver account yesterday just for the promo. Late to the game….Anyone know what is the best strategy to max out the benefit of this promo?

for my case, since now is already 28/4, should I just leave my bank account as $0 and wait till 1May to start depositing money in?

I think you got the wrong idea about this promo.
It runs from 1st April till 31st May and MAYBE refresh its promo on 1st June

The existing promo is based on March ADB which yours will be 0 SGD.

If you wish to proceed, then immediately send money into it now.
If you want to wait, then you better hope the interest doesn't drop further.

In the event that you want to wait for the potential 1st June promo, it will likely be based on May ADB

 

[nobody1968]

Hello! Would like to seek the advice from the experts here regarding the definition of "Fresh funds" for the special invite (1 Apr to 31 Jul 2024).

For example:
15 Mar - withdrew $100k
30 Mar - end-of-day balance $50k

Does it mean that I have to maintain at least $250k on 30 Apr to be eligible?
First $150k - $100k higher end-of-day balance on 30 Mar
Next $100k - amount withdrawn on 15 Mar and re-deposited within 30 days of the Promotion Period

T&C para 2c - 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 April 2024 is at least S$100,000 higher than the end-of-day deposit balance on 31 March 2024. “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

Thanks in advance!

Not so fast one. Usually last day of this month or 1st working day of next.

For those on special invite till April, even if receive new invite, eg from May to August, if April balance is high, it will be difficult to join the new promo. Moreover, standard chartered bank is very strict with the definition of fresh funds, so if 1 family member's esaver account reduce and while another family member's esaver account increase in amount within 30 days, that will not be considered as fresh funds.