Standchart eSaver

[CaptainWu]

Wah, I did not read the tnc in detail. Today I read, it is $200k minimum!

Lock in 6 months for min 200k? Think it must be above 2%?

 

[CaptainWu]

Wow, you are close. I think they have finalised the invite tnc:

a = 1.5%
b = 1.8%
c. = 2%

(includes 0.05% base)

https://www.sc.com/sg/terms-and-conditions/esav-sep26a/

Not bad as after 30 Sep you are free to withdraw but the T&C seems not updated with what you posted, probably still in progress. Not for me as it is invited only anyway. I can't see the 2% there.

 

[Garlic & Butter]

for the by-invite tiers, now fresh funds need to be minimum S$200,000 instead of 100k liao and duration is till 28 Feb

 

[hwarzoner]

interest rate going up?

 

[sglandscape]

for the by-invite tiers, now fresh funds need to be minimum S$200,000 instead of 100k liao and duration is till 28 Feb

This is great news, but how to be invited.

 

[Cookie Muncher]

didn't get any invite

 

[kikakika]

invite me!!!!

 

[kikakika]

Sep26c basically ask u to say byebye to UOB one and OCBC 360.

 

[Panerex]

for the by-invite tiers, now fresh funds need to be minimum S$200,000 instead of 100k liao and duration is till 28 Feb

I received 2% invite up till 28 February.

Is this minimum $200k fund being locked up to end February, or do we as usual have flexibility to withdraw anytime we like at the expense of potential compromising on the bonus interest?

 

[nobody1968]

I received 2% invite up till 28 February.

Is this minimum $200k fund being locked up to end February, or do we as usual have flexibility to withdraw anytime we like at the expense of potential compromising on the bonus interest?

I always get invite b. So 1.8%. How to get invite a? Is there a minimum balance you have to maintain with the bank?

 

[nobody1968]

My guess = public offer Oct likely 1.8%pa

But it is still lower than my other alternatives. If I get 2%pa invite, still lower than my other alternatives.

What are the other alternatives and rates? Please share.

 

[CaptainWu]

I received 2% invite up till 28 February.

Is this minimum $200k fund being locked up to end February, or do we as usual have flexibility to withdraw anytime we like at the expense of potential compromising on the bonus interest?

According to practice and look at the T&C doesn't look like any lock-up, but it is not easy with the MAS rules for withdrawal above 50k, you have to quickly move out your existing funds in separate batches, and need to go to the branch to unlock if its moneylocked. All must be done by 31 Aug. Then slowly move back your fund in Sep. Its pretty rush do empty account now given that its weekend tomorrow.

 

[Panerex]

I always get invite b. So 1.8%. How to get invite a? Is there a minimum balance you have to maintain with the bank?

My AUM of cash and stocks may have helped

 

[hwarzoner]

my current 3 months invite only ends in oct. dunno got higher interest rate by then

 

[nobody1968]

The requirements state must be fresh funds. According to the tnc "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".

So anyone knows what this means? If i have $130k as at 31 July, $50k as at 31 August and i have several deposits totalling $40k and several withdrawals totalling $120k, how much must i topup so as to get $200k fresh funds as at 30 Sept?

 

[Garlic & Butter]

If you're on the September invite, balance on 30 Sep MUST be >200k higher than 31 Aug.

The criteria test is based on balance on two specific dates, and fresh funds >200k that's all.

For example, if you have 50k in August 31, you can do nothing from 1-29 Sep, but must topup >200k fresh funds by or on 30 Sep. Your balance on 30 Sep must be >250k
On 1st Oct, you're free to zero out or topup with funds from existing SCB accounts.

 

[Garlic & Butter]

Those on Priority Banking tier can try ask the RM via instant messaging if "will there be eSaver Exclusive Bonus Interest Promotion?"

The RM can reach out to eSaver product manager to add you in manually (or so I believe, cos I been DM-ing the RM earlier today and once earlier this year).
Otherwise by default if your esaver has some convincing balances, the product team should notice you and invite you to the lowest tier and if you have high balances near the cap or even at the PP tier, may invite you to tier B or C.

But once you dont qualify for the invite, they will remove you and wont invite you for next cycle. need to ask RM to ask product to add back. Datapoint: once I forgot to put fresh funds and just transferred 100k from another SCB account. Naturally, I lose out on the BI and didnt got invited for the next cycle

 

[nobody1968]

If you're on the September invite, balance on 30 Sep MUST be >200k higher than 31 Aug.

The criteria test is based on balance on two specific dates, and fresh funds >200k that's all.

For example, if you have 50k in August 31, you can do nothing from 1-29 Sep, but must topup >200k fresh funds by or on 30 Sep. Your balance on 30 Sep must be >250k
On 1st Oct, you're free to zero out or topup with funds from existing SCB accounts.

Thanks for your reply.

 

[hwarzoner]

stand chart time deposit

Tenor Minimum Placement Amount (Fresh Funds in SGD) Promotional Interest Rate
6 months S$25,000
Personal Banking: 1.70% p.a.
Priority Banking: 1.80% p.a.
Priority Private: 2.00% p.a.

https://www.sc.com/sg/save/time-deposits/singapore-dollar-time-deposit

for those with less than 200k

 

[Calthron]

Anyone has issue opening online? Got a msg to visit branch .