The OCBC 360 Account was a game changer in Singapore - for most of us average Singaporeans, the account brought the pathetic 0.05% interest rates offered by most banks to something that was decent enough to make us switchover (even from Standard Chartered Bonus$aver). Once this has taken off, UOB quickly followed with the One Account (click HERE to find out whether the OCBC 360 or UOB One is better!) to steal some of the market share. A couple of days ago, Standard Chartered unveiled the brand new Bonus$aver (Bonus Saver) Deposit Account that gives up to 3.88% interest p.a. on your first S$100,000 deposit balance (OCBC and UOB applies the bonus interest on the first S$60,000 and S$50,000 respectively only).
In order for you to earn the maximum interest rate (3.88%) the first S$100,000 of your deposit balance, you will have to complete four different tasks (each with a different bonus interest rate tied to it).
+1.00% from Salary Credit
In order for you to earn an additional percent of bonus interest, you will have to credit your monthly salary (at least S$3,000 nett) into the Standard Chartered Bonus$aver account by way of a GIRO application. Since the required amount is calculated post-CPF deductions, you should be making at least S$3,750 per month in order for this bonus interest to trigger.
+1.88% from Spending
If you wish to trigger this bonus, you will have to spend at least S$2,000 (or equivalent in foreign currency) per calendar month based on the posting date of transactions. Spending anywhere between S$500 and S$1,999.99 will only give you 0.88% (instead of 1.88%)!
+0.75% from Investing with Standard Chartered
If you invest on your own, good for you but in order for the 0.75% bonus interest to trigger, you will have to either purchase an eligible insurance policy (at least S$12,000 annual premium) or have a minimum subscription sum of S$30,000 in an eligible unit trust. Your investments with other brokers don't count towards this obviously.
+0.25% from Bill Payments
The last one is pretty simple - all you have to do is to make at least 3 bill payments (through GIRO or internet banking) of at least S$50 each to qualify for the bonus interest.
You should definitely check out the nifty little calculator that Standard Chartered has on the website to see whether is it worth switching over. If you have at least S$100,000 in your account, it's not a bad idea to put your money here as the threshold for bonus interest is comparatively higher to both OCBC and UOB.
With a spectrum of Visa credit cards on offer in Singapore, one of the most elusive one at the highest end is the Visa Infinite. Commonly associated with a minimum annual income requirement of S$120,000 or higher (even though there is apparently an unbranded one that you can get in Singapore for just S$80,000), the Visa Infinite credit card is the most exclusive one you can get amongst the trio of Visa Infinite, Visa Platinum and Visa Signature credit cards.
While Singaporeans have been able to use an eligible Mastercard for train and bus rides since 20 March 2017, UOB has just announced that customers using the PRVI Mastercard can now earn 1.4 miles per S$1 on all eligible rides in the Account-Based Ticketing (ABT) pilot with Land Transport Authority (LTA) and TransitLink. Even though the UOB PRVI Mastercard gives out 3.5 UNI$ per S$5, transactions in the ABT are processed and charged after a total of S$15 is spent on transit fares or after the charges have been accumulated for up to 5 days - whichever is earlier.
Following the rather controversial launch of the KrisFlyer UOB Savings Account back in April 2017, UOB has announced a brand new UOB Stash Account (essentially a savings account) which offers the opportunity to earn up to 1% p.a. interest. Account holders will essentially earn 0.05% p.a. interest on the whole account balance with the opportunity to earn a bonus interest (of up to 0.95% p.a.) if the Monthly Average Balance (MAB) is equal to or higher than the previous month.
The OCBC Titanium Rewards Card is one of the best credit cards to hold in Singapore - especially if you shop for electronics, clothing or simply use mobile payments (like Apple Pay) a lot. I have previously covered the card in detail where I have also compared it to the Citi Rewards Card which is a credit card for similar purposes. There is currently a targeted opportunity to earn up to 6 miles (15 OCBC$) per SGD on the OCBC Titanium Rewards Card. The word through the grapevine is that OCBC will be extending the 10X OCBC$ on Mobile Payments (supposed to end on 30 September 2017) and they have actually included a Lounge Key Benefit in recent months.
Everyone knows that the DBS Woman's World MasterCard is a credit card to get in Singapore and it does not matter whether you are male or female. While reconciling my DBS Points from last statement's spending on the DBS Woman's World MasterCard, I noticed that I did not get 10X points on some of my transactions - you can request for a breakdown of DBS Points from DBS by sending a message via the secured mailbox.
The OCBC Titanium Rewards Card is one of the best credit cards in Singapore for earning miles and if you wish to understand the dynamics of this credit card, make sure you check out my previous article on everything you need to know about the OCBC Titanium Rewards Card. It appears that OCBC has introduced the opportunity to earn up to 6 miles and 2 miles per dollar on all eligible transactions made on Electronics and Gadgets as well as Dining respectively for selected cardholders. At the moment of writing, only targeted cardholders who have received either an electronic direct mail (EDM) or SMS from OCBC Bank will be able to take advantage of this promotion.
I have been to Hong Kong on multiple occasions and one of the things that I struggle with most (apart from the language) is where to go for food and coffee. I am generally unfamiliar with where everything is in Hong Kong and therefore I have really been to popular restaurants that are always recommended and visited by Singaporeans. During my latest trip to Hong Kong where I stayed at the Kerry Hotel, Hong Kong, I checked out a number of restaurants and cafes (some of them are especially memorable) along the way so hopefully this quick guide would help anyone seeking for recommendations.
There is a top spot within the OCBC Premier Banking space and that's the Premier Private Client (PPC) - one can 'easily' join this elite group by depositing or investing S$1 million (in fresh funds) and qualifying as an Accredited Investor. What caught my eyes last evening however was the introduction of a dedicated OCBC VOYAGE Card (which I have covered previously) for the PPCs and one of the additional benefits include unlimited airport limousine transfers.
Citibank discontinued the 20X Rewards promotion with Amazon (which equates to 8 miles per S$1) last month and have just introduced Zalora as the newest partner for the 20X Rewards promotion - this will run until 31 October 2017. While this is definitely great for people who shop on Zalora (though I am not sure who in this day and age), it is certainly not as impressive as the Amazon promotion that was running prior to this.
While most banks in Singapore allow you to convert your points (or equivalent currency) earned from credit card spend into Airline or Hotel points, Citibank has one of the most comprehensive list of points transfer partners - I have previously counted the total number of partners to be at 12 but they have apparently removed Delta Skymiles from the list. There are currently 11 airline points transfer partners for Citibank if you hold an eligible credit card in Singapore.