Standchart eSaver

[AST781]

Quote 一下
So with the above, esp “Eligible Online Equities” part.
问大家：
So just buy a few AAPL or REITs then my esavers will be eligible for 2.65% liao hor? 没错 hor

Need to buy ah? Or so long u got hold shares in SC trading account can qualify liao?

 

[yiron]

Don’t think so
Yesterday -140, now -126

Did they show u the fee of $140 (i.e. 0.7% of your $20000) when u submit the order? Subsequently, was $20000 or $20140 deducted?

 

[maumu]

Did they show u the fee of $140 (i.e. 0.7% of your $20000) when u submit the order? Subsequently, was $20000 or $20140 deducted?

should be $20k deducted bah. usually when buying, they will deduct the fees first and then use the balance to purchase the units.

i.e. actual purchasing is $20k - 0.7% fees = $19860

 

[yiron]

should be $20k deducted bah. usually when buying, they will deduct the fees first and then use the balance to purchase the units.

i.e. actual purchasing is $20k - 0.7% fees = $19860

Then that largely explains why he saw a $150 drop on day 1.

 

[maumu]

Then that largely explains why he saw a $150 drop on day 1.

yup, I think that is likely the reason.

we always start with a paper loss at the beginning of a new buy, due to the fees incurred.

the fact that it has recovered to -$126 means he has already recovered some of the fees

 

[peppermint7]

should be $20k deducted bah. usually when buying, they will deduct the fees first and then use the balance to purchase the units.

i.e. actual purchasing is $20k - 0.7% fees = $19860

Wow! 0.7% is only the discounted fees. Subsequent buys full fees will be even higher

 

[CaptainWu]

Wow! 0.7% is only the discounted fees. Subsequent buys full fees will be even higher

Likely keeps the same longer as even bank's commission started to be competitive, HSBC Charges 0.85% and DBS charges 0.82% for online platform.

 

[Mickey01]

Likely keeps the same longer as even bank's commission started to be competitive, HSBC Charges 0.85% and DBS charges 0.82% for online platform.

HSBC UT sales charge of 0.85% is for RSP only right? From their Invest portal I noticed their sales charge ranging from 2% to 5% except for one fund.

 

[CaptainWu]

HSBC UT sales charge of 0.85% is for RSP only right? From their Invest portal I noticed their sales charge ranging from 2% to 5% except for one fund.

From 1 January to 31 December 2024, enjoy a discounted 0.85% sales charge on lump sum investment and initial contribution on Regular Savings Plan (RSP) in Unit Trusts purchased via HSBC's Online Unit Trust platform. Terms and conditions apply.

It put 2024 but I think still maintained for now.

 

[bencheongcm]

Quote 一下
So with the above, esp “Eligible Online Equities” part.
问大家：
So just buy a few AAPL or REITs then my esavers will be eligible for 2.65% liao hor? 没错 hor

Actually is "need to buy" or already have holding before open account then buy again just to fullfill?

 

[yiron]

Actually is "need to buy" or already have holding before open account then buy again just to fullfill?

Just need to have holdings as at monthend, no need buy trades during the month to be considered wealth holding customer for eSaver.

 

[yiron]

Quote 一下
So with the above, esp “Eligible Online Equities” part.
问大家：
So just buy a few AAPL or REITs then my esavers will be eligible for 2.65% liao hor? 没错 hor

If u don't have any stock holdings with SCB, buying AAPL or REITs will qualify u. If u already have holdings, no need buy.

 

[yslvlys]

actually can we buy ETFs (under Online Equities)? a bit confused by the terms and conditions:

Eligible Unit Trust means a Unit Trust made available through the Bank and which comprises (i) a minimum investment sum of S$20,000 (or its equivalent in another currency) in a single subscription, but does not include:

• exchange traded funds;
• investments via regular savings plans; and
• switching transactions.

Eligible Online Equities refer to shares that are tradable on SC Online Trading, but does not include the following:

• delisted or suspended shares;
• shares that are in certificate form;
• warrants;
• LPS securities;
• US OTC securities;
• SGX ETF restrictions;
• securities sanctioned by the Bank’s internal policies; and
• shares subject to regulatory and compliance restrictions.

Where did you see /find this? I can't find this on the promo page. I don't understand why they exclude SGX ETFs holdings?

 

[Devilsire]

Myself is to buy and park there for extra 0.x% for "wealth holdings"

managed to find out lowest cost + opportunity cost for "wealth holdings"?
im thinking if UT have cheaper "option"

 

[peppermint7]

managed to find out lowest cost + opportunity cost for "wealth holdings"?
im thinking if UT have cheaper "option"

Now i have a change of plan. I'm going for Bonus Saver (up to 100k) in July instead of Esaver. Bonus Saver i am considering to go for equities instead of UT to fulfill the Invest portion. You can hop to Bonus Saver thread to check it out. @ThreeSteps and the rest of the guys have shared great info. I plan to buy 20k equities around mid July and sell in August until left a little to satisfy the wealth criteria for Esaver. In case i am using Esaver any time down the road.

 

[peppermint7]

Where did you see /find this? I can't find this on the promo page. I don't understand why they exclude SGX ETFs holdings?

he's refering to Bonus Saver tnc
Point no. 8

https://www.sc.com/sg/terms-and-conditions/bonussaver-product-terms/

 

[yslvlys]

Quote 一下
So with the above, esp “Eligible Online Equities” part.
问大家：
So just buy a few AAPL or REITs then my esavers will be eligible for 2.65% liao hor? 没错 hor

Eligible Online Equities is for BonusSaver, not eSaver. I believe what constitutes Wealth Holdings for eSaver at this point still not clear.

 

[yiron]

Eligible Online Equities is for BonusSaver, not eSaver. I believe what constitutes Wealth Holdings for eSaver at this point still not clear.

It's in the eSaver T&C.

4. “Customers with wealth holdings” are defined as customers who hold either an Eligible Investment Product or Insurance Product purchased through the bank. An “Eligible Investment Product” refers to (i) Unit Trust(s), (ii) Bonds, (iii) Structured Notes, or (iv) Equities.
5. Your eligible Bonus Interest Rate is assessed based on your wealth holdings at the end of each calendar month during the promotion period.

 

[yslvlys]

It's in the eSaver T&C.

4. “Customers with wealth holdings” are defined as customers who hold either an Eligible Investment Product or Insurance Product purchased through the bank. An “Eligible Investment Product” refers to (i) Unit Trust(s), (ii) Bonds, (iii) Structured Notes, or (iv) Equities.
5. Your eligible Bonus Interest Rate is assessed based on your wealth holdings at the end of each calendar month during the promotion period.

The term "Eligible Online Equities" is only used in BonusSaver tnc, which was posted by mamu and quoted by addict, who is asking about eSaver. eSaver tnc only mentioned "Equities" (but not defined clearly) , which presumably should include all kinds of stocks including SGX ETFs (excluded by BonusSaver)

 

[yiron]

The term "Eligible Online Equities" is only used in BonusSaver tnc, which was posted by mamu and quoted by addict, who is asking about eSaver. eSaver tnc only mentioned "Equities" (but not defined clearly) , which presumably should include all kinds of stocks including SGX ETFs (excluded by BonusSaver)

I don't think all SGX ETFs are excluded for BonusSaver. It states 'SGX ETF restrictions', which refers to ETFs which are restricted from trading on SGX. Rule of thumb is that if u can buy it via SC online trading, it should qualify.

Seems quite clear what constitutes wealth holdings for eSaver - essentially any investment product u can buy via SC under the broad categories of UT, bonds, structured notes, and equities.