I want to ask, let's say I have $50k and have Singtel, M1 & SP bills to pay. Would this be a good account for savings?
I don't have CC and I don't intend to have one because of my lifestyle. With above how much interest I expect to earn?
Thanks ppl
all depends on how much your bills add up. uob1 require min spend 500 consistently. scb singpost require 600.
assuming that your telco bills add up to 600 per bill cycle, and u pay them online, and using 50k in esaver at 1.55% interest, u can do the calculation below,
1. uob one =
a) cc rebate 0.033*500 +
b) extra interest [(2.43-1.55)/100]*(30/365)*50k
returns = 52.7
if your telco bills plus other non-paywave expenses add up consistently to 500. this is your best option.
2. singpost =
a) cc rebate 0.070*600
returns = 42
if your telco bills plus online spending (some cards exclude online grocery, online taxi booking and some online flight booking), add to 600 but is not a consistent amount. this is your next best option
3. dbs debit card (provided there is paywave at telco branches)
a) rebate 0.050*600
b) minus transport and time
returns = 30
for me, i used uob1 to hit 500 per month, and over that 500, i used
- dbs debit card for paywave, 5% rebate
- optimum for non-paywave dining, 4.5-5% rebate
- singpost for telco, 7% rebate
- scb visa infinite for uber, for miles
- dbs altitude visa for grab, for miles
- anz travel for other local spend, for miles
- uob visa signature for overseas spend, for miles
)
