What is the best option to keep your savings?

[maumu]

BOC only have 4 conditions
1. the more savings balance u have the better
2. 2k salary crediting at least
3. Credit card spend
4. 3 bank bills.

can I check whether monthly insurance premiums paid by credit card is counted towards the $1500 spend for the bonus?

 

[pcmdan]

can I check whether monthly insurance premiums paid by credit card is counted towards the $1500 spend for the bonus?

via Ipaymy or cardup with family card yes.

 

[maumu]

via Ipaymy or cardup with family card yes.

thanks man. will be watching whether they're going to tweak their rates...

then again, BOC internet banking is... CMI still need the old Internet Explorer browser right?

 

[a4973]

actually on their product landing site https://www.bankofchina.com/sg/pbservice/pb1/201611/t20161130_8271280.html
from which i quote the relevant section :

The following transactions do not qualify for this bonus:

Cash withdrawal
Fees or charges
Funds transfer or cash advance
Transactions on BOC Cards that are terminated or unsuccessful
The unposted amounts under Installment Payment Plan (“IPP”) and Flexi-Balance transactions
Any amount charged to your BOC Debit or Credit Cards that is subsequently cancelled, voided or reversed
AXS payments (transactions via all AXS channels, including AXS station, AXS e-station, AXS m-station, etc.)
Any other transactions BOC may determine as not eligible for Card Spend bonus from time to time without prior notice.


it does not clearly say insurance premium payments not eligible. so has this been tested / confirmed? not doubting the information in this thread but am just looking through all their fine print before jumping in to open the SmartSaver account. i believe paying via via Ipaymy or cardup will have some transaction costs?
thanks for your advice.

 

[yiwei]

thanks man. will be watching whether they're going to tweak their rates...

then again, BOC internet banking is... CMI still need the old Internet Explorer browser right?

Works on Chrome for me...

actually on their product landing site https://www.bankofchina.com/sg/pbservice/pb1/201611/t20161130_8271280.html

it does not clearly say insurance premium payments not eligible. so has this been tested / confirmed? not doubting the information in this thread but am just looking through all their fine print before jumping in to open the SmartSaver account. i believe paying via via Ipaymy or cardup will have some transaction costs?
thanks for your advice.

Direct insurance premium payment is counted for card spend bonus for smartsaver interest, but not counted for your credit card rebate.

 

[pcmdan]

thanks man. will be watching whether they're going to tweak their rates...

then again, BOC internet banking is... CMI still need the old Internet Explorer browser right?

hahaha get used to it ba. U will love it every month during interest day

 

[pcmdan]

Works on Chrome for me...



Direct insurance premium payment is counted for card spend bonus for smartsaver interest, but not counted for your credit card rebate.

via ipaymy or cardup is better. E.g.

BOC family card
$833.33 online spending net u 3%.

3% - Ipaymy/cardup fees = +tive

Pay direct = 0

 

[yiwei]

via ipaymy or cardup is better. E.g.

BOC family card
$833.33 online spending net u 3%.

3% - Ipaymy/cardup fees = +tive

Pay direct = 0

I am using payment service, just sharing for people who may not want to pay a fee or trying to meet the minimum spend of $500 for the interest

 

[pcmdan]

I am using payment service, just sharing for people who may not want to pay a fee or trying to meet the minimum spend of $500 for the interest

hahaha icic....

 

[maumu]

via ipaymy or cardup is better. E.g.

BOC family card
$833.33 online spending net u 3%.

3% - Ipaymy/cardup fees = +tive

Pay direct = 0

monthly insurance premium is counted as online spend?

how did you get this: $833.33 online spending net u 3%?

actually i'm happy to just meet the min. spend for bonus interest - not looking for cashback. understand min. spend is $800.

 

[pcmdan]

monthly insurance premium is counted as online spend?

how did you get this: $833.33 online spending net u 3%?

actually i'm happy to just meet the min. spend for bonus interest - not looking for cashback. understand min. spend is $800.

833.33 x 3% is $25 capped for boc fam card online spent

 

[Trazora]

monthly insurance premium is counted as online spend?

how did you get this: $833.33 online spending net u 3%?

actually i'm happy to just meet the min. spend for bonus interest - not looking for cashback. understand min. spend is $800.

If use boc family card, can get 3% capped at $25 for online spend including cardup/ipaymy. Still earn some nett rebate after minus off the cardup/ipaymy fees. Charge direct to insurance maybe just base rebate.

 

[maumu]

833.33 x 3% is $25 capped for boc fam card online spent

unfortunately for my case (premium is more than $1000) the $25 cashback cap is almost negated by the ipaymy (2.25%) or is negated by cardup (2.6%) fees... lol

so I think it is good enough to qualify for the bonus interest instead by using card to pay the monthly insurance

 

[Trazora]

unfortunately for my case (premium is more than $1000) the $25 cashback cap is almost negated by the ipaymy (2.25%) or is negated by cardup (2.6%) fees... lol

so I think it is good enough to qualify for the bonus interest instead by using card to pay the monthly insurance

Can split premium into 2. Use another card/payment method for part of it. Is there means to pay the insurance directly in the first place? Note that AXS not eligible

 

[maumu]

Can split premium into 2. Use another card/payment method for part of it. Is there means to pay the insurance directly in the first place?

mine are prudentials… can pay direct right?

from the insurance payment site: "Please note that we accept VISA / MasterCard Credit & Debit Cards only."

 

[Trazora]

mine are prudentials… can pay direct right?

from the insurance payment site: "Please note that we accept VISA / MasterCard Credit & Debit Cards only."

Prudential used to accept payment using cards from selected banks which exclude BOC. Only recently then Pruaccess remove stating of the banks. Though heard ppl changed to grabpay mcc and failed to deduct. Not sure about boc now.

 

[sunkist77]

I am using payment service, just sharing for people who may not want to pay a fee or trying to meet the minimum spend of $500 for the interest

Is the payment service via the boc website or app? Thanks

 

[maumu]

Prudential used to accept payment using cards from selected banks which exclude BOC. Only recently then Pruaccess remove stating of the banks. Though heard ppl changed to grabpay mcc and failed to deduct. Not sure about boc now.

yup I recalled that also

anybody here is paying direct using their BOC card for their monthly insurance premiums for prudential?

or should I call prudential and ask...

 

[yiwei]

Is the payment service via the boc website or app? Thanks

I referring to the payment services like cardup or ipaymy.

yup I recalled that also

anybody here is paying direct using their BOC card for their monthly insurance premiums for prudential?

or should I call prudential and ask...

I just switched to BOC Family card this month, will know ard 20th, should not be an issue since already received their confirmation letter for change payment method.

 

[ft7001]

Depends how much you have and which you prefer.

10K - Singlife 2.5%

100K - CIMB Fastsaver 1.325%

200K - CIMB Fastsaver and Fastsaver-i 1.325%

More than 200k - Rest with Maybank iSavvy musical chairs 1.3%



These only for those who love fuss free savings account like me

Singlife 10K @ 2.5% sounds legit.

But non-guaranteed returns.