Standchart eSaver

[xRenol]

How many days from your registration b4 you received this email?

I believe is 5 working days assuming most of them registered on the first day, 01 Oct 2024.

 

[Imhthc]

How many days from your registration b4 you received this email?

I registered on 1st Oct

 

[Min Min]

yeap i received the notification today too and already moved funds in

 

[ahnyaahnya]

just got this email:

​ ​ Dear client,​ You have successfully registered for the Marathon $aver Promotion using your e$aver Account number ending with 9999.​ To enjoy step-up bonus interest on eligible incremental balance (compared to September 2024 average daily balance) from October 2024 to December 2024, remember to top up your registered e$aver Account with fresh funds such that your deposit balance on 31 October 2024 is at least S$100,000 higher than the balance on 30 September 2024.​

​ ​ ​ ​ Enjoy 0.05% p.a. prevailing interest rate on deposit balance.​

Oh. Just realised that the incremental balance is based on comparison with September average balance.
Luckily I didn't move money in.

 

[Imhthc]

Oh. Just realised that the incremental balance is based on comparison with September average balance.
Luckily I didn't move money in.

If your fund is not earning 3.30% elsewhere, you can always deposit now since the esaver is still giving this interest on ur incremental balance for Oct.

 

[ahnyaahnya]

If your fund is not earning 3.30% elsewhere, you can always deposit now since the esaver is still giving this interest on ur incremental balance for Oct.

SCB will be paying only base interest on most of my funds. So off course there are better options

 

[ahnyaahnya]

So in short, if transfer in $ on 30 Oct wh is at least $100K > than the balance on 30 Sep, the incremental amt will be able to earn total of 3.45% (BI 3.35% + 0.05% prevailing) and 3.5% (BI 3.44% + 0.05% prevailing) for Nov and Dec respectively.
Even if I just deposit for month of Nov also can, cuz no need to maintain for all 3 months fr Oct-Dec.

I hope my above understanding is correct?

Do read carefully.
I was under the same impression until today. I read it carefully today
The interest is on the excess of average daily balance over the AVERAGE DAILY BALANCE of September.
This is not like the invite that was for other cycles.

So it's OK for those who didn't have money in there ( or negligible amount) in September. Not for those who withdrew at end of September to play merry-go-round.

 

[twosix]

Do read carefully.
I was under the same impression until today. I read it carefully today
The interest is on the excess of average daily balance over the AVERAGE DAILY BALANCE of September.
This is not like the invite that was for other cycles.

So it's OK for those who didn't have money in there ( or negligible amount) in September. Not for those who withdrew at end of September to play merry-go-round.

U sure? My understanding is it's always adb of the previous month, not the last day of the month. If like that, there is no need to do merry go round.

 

[Imhthc]

SCB will be paying only base interest on most of my funds. So off course there are better options

Then in this case I am assuming you are going to top up $100,000 on top of ur sep adb in end October. Otherwise u can’t get much from this promo. All bonus interest is on incremental daily balance of sep from now till Dec

 

[ahnyaahnya]

Then in this case I am assuming you are going to top up $100,000 on top of ur sep adb in end October. Otherwise u can’t get much from this promo. All bonus interest is on incremental daily balance of sep from now till Dec

Go read carefully.
Oct is the deadline for depositing to qualify for the promo. Balance must be 100k more than September closing balance.
But the incremental balance is compared to AVERAGE, not closing balance of September.
It is stated in the terms and conditions

 

[ahnyaahnya]

U sure? My understanding is it's always adb of the previous month, not the last day of the month. If like that, there is no need to do merry go round.

If the words in the terms and conditions are not clear enough ( though i can't understand why not, as it is so specific), refer to Para 12 where they have examples . Look at 4th column. See what it says about September.

It's the norm . They have been giving interest by this formula, with the exception of the invited cases

 

[twosix]

If the words in the terms and conditions are not clear enough ( though i can't understand why not, as it is so specific), refer to Para 12 where they have examples . Look at 4th column. See what it says about September.

i do not know what u trying to infer. if one look back to past promo, eg. the aug to sep promo, the conditions r clearly stated:

From now till 30 September 2024, earn up to 3.35% p.a. interest on eligible deposit balance of S$2 million with no lock-in period when you bring in incremental fresh funds* (compared to July 2024 average daily balance)

You can find the link here: https://web.archive.org/web/20240801045158/https://www.sc.com/sg/save/savings-accounts/esaver/

 

[ahnyaahnya]

i do not know what u trying to infer. if one look back to past promo, eg. the aug to sep promo, the conditions r clearly stated:

From now till 30 September 2024, earn up to 3.35% p.a. interest on eligible deposit balance of S$2 million with no lock-in period when you bring in incremental fresh funds* (compared to July 2024 average daily balance)

You can find the link here: https://web.archive.org/web/20240801045158/https://www.sc.com/sg/save/savings-accounts/esaver/

I'm not trying to infer anything .
I'm just trying to help others by calling attention to the terms clearly stated by the bank.
Btw, why are you trying to counter my point by giving example of exactly what I'm trying to tell them ?

 

[Imhthc]

Go read carefully.
Oct is the deadline for depositing to qualify for the promo. Balance must be 100k more than September closing balance.
But the incremental balance is compared to AVERAGE, not closing balance of September.
It is stated in the terms and conditions

Of course I know what you are saying. I mean if the $100k is not above the sep adb, one will not get the max from the $100k put in for the promo period.the determining factor and the most important factor is sep adb.

 

[twosix]

I'm not trying to infer anything .
I'm just trying to help others by calling attention to the terms clearly stated by the bank.
Btw, why are you trying to counter my point by giving example of exactly what I'm trying to tell them ?

ok so we r on the same page. Who is giving the wrong information in this thread? Can u name them?

 

[ahnyaahnya]

ok so we r on the same page. Who is giving the wrong information in this thread? Can u name them?

Go read the posts. They think it's based on closing balance of September.
Their identity doesn't matter so I don't bother to remember

 

[ThreeSteps]

Eligibility for the Promo and Bonus Interest Calculation Method are 2 separate matters.

Marathon $aver Promotion
https://www.sc.com/sg/save/savings-...e_new-esaver-acquisition-sc_com_organic-sg-en
t&c: https://av.sc.com/sg/content/docs/sg-esaver-marathon-saver-promotion.pdf

Registration & Eligibility (Refer to point#2 of t&c)
Step (1) Register online (refer to the bank website link)
Step (2) Need to show that the a/c balance on 31Oct is at least $100k higher than the a/c balance on 30Sep. note: there is no need to keep at least $100k a/c balance continuously during the period Oct-Dec.
(** 31Oct is public holiday)

Bonus Interest Calculation (Refer to point#8 of t&c)
Bonus interest calculation is based on the incremental Average Daily Balance (ADB) of each of the 3 interest-earning months (Oct, Nov, Dec) compared to Sep ADB, i.e. Oct ADB compare to Sep ADB, Nov ADB compare to Sep ADB, Dec ADB compare to Sep ADB.
These 3 sets of incremental ADB can each be less than $100k & need not to be at least $100k. You also do not need to keep funds in the a/c for all 3 months, for example - maybe you are interested only in the Dec interest.

Contact the bank if you need further clarification on the above.

 

[vsvs24]

Then in this case I am assuming you are going to top up $100,000 on top of ur sep adb in end October. Otherwise u can’t get much from this promo. All bonus interest is on incremental daily balance of sep from now till Dec

No point topping up in Oct if Sep has high balance. He should put his money somewhere else in Oct

 

[maumu]

Exclusive BI credited yesterday.. fyi

btw, nobody received anymore exclusive bonus interest invitation since October? it's been quiet...

 

[a4973]

Exclusive BI credited yesterday.. fyi

btw, nobody received anymore exclusive bonus interest invitation since October? it's been quiet...

I believe you are on the Exclusive for September to November? Do you know if those on this promotion can concurrently stack on the Marathon by simultaneously fulfilling the Marathon criteria ie the registration and the topping up 100k > end of day September balance? Thank you