Standard Chartered ‘Invest or Insure’ Campaign

Be richly rewarded when you invest or insure with Standard Chartered from now to 30 June 2015.
Insure and earn 8% p.a. interest on a 3-month SGD Time Deposit (up to a maximum deposit of S$20,000) with Standard Chartered Priority Banking.

Eligibility	Earn
Take up a Prudential insurance plan with a minimum monthly premium of S$800	8% p.a interest on a 3-month SGD Time Deposit

Eligibility	Rewards
Every S$150,000 fresh funds invested in eligible products	S$250 worth of Takashimaya shopping vouchers (up to S$1,000)

Welcome Gift for New Priority Customers                 
Plus receive additional S$200 worth of shopping vouchers, exclusive rewards and Priority Banking Visa Infinite privileges when you start a Priority Banking relationship with us today.


Please refer to the website for more details.

Standard Chartered e$aver Promotion

From now till 31 March 2015, enjoy up to 1.35% p.a. interest, no lock-in period and no minimum deposit, when you bring in incremental fresh funds* (compared to October 2014's average daily balance).

Deposit Balance Tier	Prevailing Interest Rate on Deposit Balance	Bonus Interest Rate on eligible Incremental Balance	Total Interest Rate on eligible Incremental Balance
<S$50,000	0.10% p.a.	1.10% p.a.	1.20% p.a.
S$50,000 to <S$200,000	0.15% p.a		1.25% p.a.
≥S$200,000	0.25% p.a.		1.35% p.a.



Promotion has been extended to 31 March 2015 from 31 January 2015.

Please refer to the website for more details.

Standard Chartered 6-Month and 12-Month SGD Time Deposit CNY Promotion

Usher in the Year of the Goat with auspicious gifts of gold from Standard Chartered Bank. These are  the highest interest rates offered by Singapore banks for a 6 Months SGD Time Deposit.

SGD Time Deposit
Offers	Qualifying Transactions
1.40% p.a. interest for 6-month†	Deposit a minimum of S$25,000
1.35% p.a. interest for 12-month#
1.40% p.a. interest for 6-month†	Deposit a minimum of S$128,000
1.35% p.a. interest for 12-month#
+
A choice of two 24K Gold-Plated Year of the Goat Medallion Coins OR a Coin Set

+ The 6 Months SGD Time Deposit Promotion runs from 7 to 28 February 2015.
# The 12 Months SGD Time Deposit Promotion runs from 23 to 28 February 2015.

Please refer to the website for more details.

Best Credit Cards for Cash Rebates 2015

Cashback credit cards are gaining in popularity as they give you cash rebates, usually at the end of month or quarter instead of the reward points that many credit cards offer. They work much better than rewards points as you don't have to redeem them for vouchers which will just force you to spend more instead.

Whether you own a car or not will determine which credit card you should be using as drivers typically spend $300 to $400 on petrol each month and credit cards typically offer 5% up to 20% discount / rebate on your petrol spend which can add up to a lot in a year.

Where you pump your petrol will also affect which card is right for you as banks usually have tie-ups with one or two brands. The Citibank Dividend Card offers up to 18.3% savings at Esso and Shell while HSBC Visa Platinum Card offers up to 18.3% at Shell and Caltex with minimum monthly spending of $800 for each qualifying quarter. OCBC 365 Card on the other hand requires minimum monthly spending of $600 for the rebates to apply, otherwise only 0.3% cash rebates are awarded. In terms of flexibility, Citibank Dividend Card comes up tops and does not come with a monthly minimum spending requirement. However, to qualify for the rebates, each transaction must be $50 and above, which should be easily met if we are talking about a full tank of fuel. Below is a summary of how much savings you can potentially get at the various fuel stations.
 

	Savings offered at
	Esso	Caltex	Shell	SPC
Citibank	Up to 18.3%	Up to 5%	Up to 18.1%	Up to 5%
HSBC	Up to 5%	Up to 18.3%	Up to 18.3%	Up to 5%
OCBC	Up to 18.3%	Up to 18.3%	Up to 5%	Up to 5%
UOB		Up to 21.7%		Up to 20%

Based on data provided on sgcarmart.com, there are a total of 190 petrol kiosks in Singapore -
Esso (63), Shell (58), SPC (40), Caltex (29)

Also, how much you typically spend monthly, whether it is $300 or $3,000, there is a credit card to cater to your needs. The American Express True Cashback card and CIMB World MasterCard  do not have any minimum spending requirements, making them more suitable for small monthly expenditure. The Citibank Dividend Card and the Manhattan World MasterCard are more suitable for high spenders.

Some cards offer a complicated cashback system or low cashback rates with many conditions attached. Some cards like the UOB One Card, Manhattan World MasterCard, HSBC Visa Platinum Card offer tiered rebates based on monthly and / or quarterly spending.

For Drivers, our Top 3 Cards are:

The Citibank Dividend Card promises more savings on petrol, groceries and health & beauty / pharmacies spend, dining spend and 0.5% on all other spend. What we like about the card is that it does not have any monthly spending requirements. However, all eligible transactions under petrol, groceries, pharmacies and dining spend must be greater than $50, otherwise only 0.5% is awarded. The annual award is capped at a maximum of $800 Bonus Dividend Dollars. 



Current Promotion
Online Festive Special: Get a $68 Instant Citi Rebate when you apply for two Credit Cards and a Ready Credit account.

Click here to Apply Now and we will direct you to the official card issuer's website.

HSBC Visa Platinum Credit Card allows you to enjoy up to 5% cash rebates on groceries and petrol, and up to 2% cash rebates on dining under the Quarterly Cash Rebates Programme with a minimum spending of $800 per month for all 3 months in a quarter. On top of enjoying the cash rebates of up to 5% on petrol, you will also enjoy 14% instant petrol discounts at all Caltex and Shell stations, that is up to 18.3% savings. The rebates earned are subject to the conditions below.

 

Earn 1 Rewards point with every S$1 charged and reap the benefits of a 3-year validity period. That means more time to accumulate points for higher-value Rewards items. Plus, earn HSBC's Rewards points with your tax payment. Simply charge your taxes to your HSBC credit card to enjoy the convenience of consolidating your payments into one account.

 

Current Promotion

Receive a welcome gift of a United Colors of Benetton Slash 24" luggage (worth S$319) when you sign up now, plus an additional United Colors of Benetton Slash 20" luggage and a kid's backpack (worth S$348) when you sign up with an additional supplementary card.

Online sign up exclusive:
Enjoy an additional S$20 cash rebate when you apply and submit your supporting documents online.

Click here to Apply Now and we will direct you to the official card issuer's website.

 

OCBC 365 Credit Card
This OCBC cashback card is a latecomer into the local credit card scene but is a pretty strong contender to the other cashback cards as it offers rebates on online shopping and more attractive dining rebates with a minimum spend of S$600 based on posted transactions in a calendar month. If you spend less than S$600, a flat 0.3% cashback is awarded. Cashback amount is capped at S$80 per calendar month or $960 per calendar year.

Please see below for the various types of rebates.

Current Promotion
Apply now and get 2 years of annual fees waived.



Click here to Apply Now and we will direct you to the official card issuer's website.

For Non-Drivers, our Top 3 Cards are:

For those who spend below $1,500, we have a tie between 2 cards.

American Express True Cashback Card

Enjoy 1.5% cashback anywhere 24/7 365 days. There is no minimum monthly spending as well as minimum spending per transaction required. There is also no cap on the amount of cashback you can earn. This is especially useful for those with small monthly expenditure or those with irregular spending patterns each month. It helps if you can maximise the usage of the card by charging all your recurring bills like Telco, utilities, insurance, monthly subscriptions, gym memberships to the card as well.

Current Promotion
As an welcome offer, you will enjoy 5% Cashback for the first 3 months (up to a total of $5,000 spending) plus a fee waiver for the first year.

Click here to Apply Now and we will direct you to the official card issuer's website.

AND

OCBC 365 Credit Card
This OCBC cashback card is suitable for you if you have a regular spending pattern, with a minimum spend of $600 per month. It offers rebates on online shopping and more attractive dining rebates based on posted transactions in a calendar month. If you spend less than S$600, a flat 0.3% cashback is awarded. Cashback amount is capped at S$80 per calendar month or $960 per calendar year.

Please see below for the various types of rebates.

Current Promotion
Apply now and get 2 years of annual fees waived.



Click here to Apply Now and we will direct you to the official card issuer's website.


For those who spend $1,500 and above,

The Citibank Dividend Card promises more savings on petrol, groceries and health & beauty / pharmacies spend, dining spend and 0.5% on all other spend. What we like about the card is that it does not have any monthly spending requirements. However, all eligible transactions under petrol, groceries, pharmacies and dining spend must be greater than $50, otherwise only 0.5% is awarded. The annual award is capped at a maximum of $800 Bonus Dividend Dollars. 

Current Promotion
Online Festive Special: Get a $68 Instant Citi Rebate when you apply for two Credit Cards and a Ready Credit account.

Click here to Apply Now and we will direct you to the official card issuer's website.

For those who spend $3,000 and above,

With the Manhattan World MasterCard, you'll get up to 3% CashBack (up to a maximum of $800 a year) on eligible purchases plus a suite of exclusive lifestyle privileges.

To receive the maximum rebate of S$200 per quarter, the best way to do it is to accumulate your big ticket purchases in one month and charge at least S$6,667 in that month. Alternatively, if you spend $3,000 or more per month, you can also enjoy 3% rebate, subject to a cap of $200 per quarter which means that the effective cashback you can enjoy is just over 2.2% or less.

See table below for the tiered spending and the respective cashback you can enjoy with the card.

Total eligible	Applicable CashBack	Maximum CashBack
monthly spend	tier for the month	earned and received
		per quarter
$1–$999	0.50%	Capped at $200
$1,000–$2,999	1%
$3,000 and above	3%

Current Promotion




For new customers, apply for both cards by 28 February 2015 and choose from three great gifts (Samsung GALAXY Tab 4 (7.0") LTE OR BOSE Soundlink Mini Bluetooth speaker OR American Tourister Puzzle-Lite Spinner 59cm luggage). Simply charge a combined minimum of $200 in eligible retail transactions to your Cards (with at least one transaction on each card) within 30 days of card approval. This promotion is only applicable if you do not hold a principal credit card and do not have a personal loan with Standard Chartered Bank.

Click here to Apply Now and we will direct you to the official card issuer's website.

 

Other Cashback Cards considered are as follows:

With the UOB One Card, simply spend over S$300 a month to get up to 3.33% in cash rebate per quarter to automatically offset your credit card bills. The more you spend, the more cash rebate you will get. Assuming your UOB One Card Statement date is 15th of every month, a minimum of 3 purchases with a total minimum spend must be posted before the statement date in order for you to earn the quarterly cash rebate. See table below.

 

Also, you will get up to an additional 10% SMART$ rebates on top of your One Card cash rebates, at over 600 participating merchants islandwide which let you earn up to 13.33% cash rebates. Earn an additional 2% on all overseas spend with your UOB One Card. This additional 2% rebate applies to all transactions made overseas, capped at S$5,000 overseas spend per calendar year, awarded to you every month to offset your monthly credit card bills.

If your credit card monthly spend are very regular and is very close to the tier cut-offs by UOB, you can stand to save a lot. However, excess spending on the card exceeding the tier cut-offs will bring down the effective savings. For example, if you spend $600 per month, your effective cash rebates will be only 1.7% instead of 3.33%. One point to note is if you do not meet the minimum spend for just one month, you will not get any cash rebate for that quarter.

Click here to Apply Now and we will direct you to the official card issuer's website.

CIMB World MasterCard
Enjoy a 1% cash rebate on all your purchases and no monthly cap, no annual fees for life, complimentary green fees at prominent golf courses in Singapore, Malaysia and Indonesia, travel insurance of up to S$1 million, special dining discounts and unique privileges across borders.

However, the prohibitive factor is the income requirement of $120,000 per annum which will put it out of most people's league.

Click here to Apply Now and we will direct you to the official card issuer's website.

What is your favourite cashback credit card? How much rebates can you get from the card each month?

Let us know if you have a better card to recommend to us.

Best Credit Cards for your Lunar New Year 2015 Celebrations

In 3 weeks time, we Chinese are going to usher in The Year of the Goat. This is also the time of the year when we show our appreciation to our parents, family, customers, colleagues and so on, by showering them with Chinese New Year goodies. We will also be dressed in new clothes and  meeting up for reunion dinners. In this post, we will be bringing to you the best credit card offers in the market this festive season to suit your spending needs.

 

 

DBS Sure Win Ang Pow

 

Spend a min. of S$168 and get a Sure Win DBS Ang Pow worth up to S$1,688 from 23 Jan – 5 Mar 2015. While stocks last.

 

Participating Merchants:

 

Bee Cheng Hiang Big Box Century Square Crystal Jade (selected outlets) Esso Hougang Mall Peach Garden (selected outlets) Sheng Siong

SPC Tampines 1 Tiong Bahru Plaza Tung Lok Group (selected outlets) Watsons (selected outlets) Xin Cuisine Chinese Restaurant (by Holiday Inn Atrium Singapore)

 

S$3 off Taxi Fare 

Get S$3 off your Grabtaxi fare when you go visiting this Chinese New Year. Valid 1 – 18 Feb 2015 with a minimum spend of S$168 in a single receipt.

 

*Limited to first 200 redemptions on weekends (Fri, Sat, Sun) and 100 redemptions on weekdays (Mon-Thurs).

 

Please refer to the website for more details.

 

New Moon Abalone Lavish Gift Set*

Spend a minimum of S$2,388 (inclusive of S$80 nett spent at participating FairPrice Xtra or Finest stores) on your OCBC Credit/Debit Card and stand to redeem an exclusive New Moon Abalone Lavish Gift Set. Limited to the first 2,500 redemptions, while stocks last.

Din Tai Fung Voucher Promotion^
Spend a minimum of S$200 in a single receipt on your OCBC Credit/Debit Card to redeem a S$10 Din Tai Fung voucher. Limited to the first 5,000 redemptions, while stocks last.

Promotion is from 21 January to 13 February 2015.

Please refer to the website for more details.



 

 

 

 

 

UOB has tie-ups with several restaurants and hotels and offers cardholders great deals for Chinese New Year goodies. Notably, for your retail purchases at Giant and Cold Storage, you will be receiving vouchers for minimum spending.

 

Please refer to the website for more details.

 

 

 

 

 

At Citibank, enjoy an Online Festive Special of S$68 Instant Citi Rebate for new cards sign-ups.

 

Get up to S$30 shopping vouchers with minimum spending at participating malls which includes AMK Hub, United Square, Wisma Atria and Marina Square and up to 40% off online shopping at Blue Nile, Luxola, Reebonz and so on.

 

Please refer to the website for more details.

 

 

 

 

 

Spend and redeem with HSBC cards this Lunar New Year.

 

Min. qualifying spend	Gift
S$1,888 (max. of 5 charge slips)	3-piece Skylight Happiness Variety Set* (worth S$68, limited to 2,000 sets)
S$3,888 (max. of 10 charge slips)	5-piece Skylight Fortune Variety Set# (worth S$138, limited to 1,000 sets)
S$8,888 (max. of 15 charge slips)	6-piece Skylight Platinum Prosperity Set+ (worth S$388, limited to 300 sets)
Each cardholder is allowed to redeem maximum four (4) of each abalone gift set during the redemption period. Please click here for other terms and conditions.
* Comprises 1 can each of NZ Superior Abalone, Superior Scallops with Braised Dried Mushroom, and Special Premium Abalone Sauce.
# Comprises 1 can each of NZ Superior Abalone, Amidori Abalones in Supreme Broth, Superior Scallops with Braised Dried Mushroom, Golden Giant Topshell, and Special Premium Abalone Sauce.
+ Comprises 1 can each of Mexico Superior Abalone, South African Gold Abalone, Australia Superior Abalone, Braised Australia Superior Abalone, NZ Abalone, and Golden Amidori Abalone.

 

Promotion is from 14 January to 5 March 2015.

 

Please refer to the website for more details.

 

 

 

 

 

 

Over at Standard Chartered, enjoy an elegant afternoon high tea for two at Rose Veranda, Shangri-La Hotel (worth $113). Simply be the first 3,000 to spend $2,888 on your credit card from 15 January to 28 February 2015. To participate, either register your card online or send an SMS to 77222.

 

Please refer to the website for more details.

 



 

 

 

 

From 9 January to 31 March 2015, the Top 3 Card Spenders who charge the highest qualifying amount to their Singapore-issued Personal Maybank Card and register via SMS will win a trip for 2 to watch Manchester United vs. Arsenal LIVE at Old Trafford. 

 

From 8 January to 3 February 2015, enjoy exclusive fares on Cathay Pacific Business, Premium Economy and Economy Class with your Maybank Credit/Debit Card.

 

However, it was noted that its Lunar New Year Charge and Redeem specials have all been fully redeemed as they have started the promotional period rather early as compared to the other banks.

 

Please refer to the website for more details.

Update @ 4th Feb 2015
Lunar New Year Dining Rebate Promotion

Enjoy S$138 cash rebate when you dine at restaurants with a minimum spend of S$1,588 charged to your Maybank Credit Card! Limited to the first 300 customers.

Simply SMS to 79898 from 4 to 28 February 2015 after making the transaction.

Please refer to the website for more details.

 

How much will you be spending this Lunar New Year? Have you found the credit card offers that are most attractive to you? Please let us know if you found this useful.

 

 

Best Bank Deposit Rates in Singapore as at January 2015

I am sure many of you like me, are very interested in comparing the deposit rates of the various major banks in Singapore. Of course, we are assuming here that you are simply going for the highest interest rates and no customer loyalty is considered as you may have your favourite bank and you decide to keep your funds with them either for sentimental reasons or out of sheer convenience.

Ideally, we should keep 6 months or more of living expenses as our emergency funds in liquid assets, that is, bank deposits. Which are the banks that can offer the highest deposit rates at different cash levels? Before you scoff at the measly interest that we can get from bank deposits nowadays, let me remind you that a journey of a thousand miles begins with a single step. Having a regular savings plan and by accumulating our wealth bit by bit, can we actually attain the goal of financial freedom in the end.

Best Deposit Rates as at January 2015

Assuming you have S$5,000 cash,
CIMB is probably the one bank that you may want to consider. Its CIMB StarSaver Account offers 0.8% p.a. interest on its current account and offers free cheque books. There is no fall below fee. You must be at least 18 years and above and put in a minimum initial deposit of S$5,000.

To enjoy the 0.8% p.a. on the entire account balance, simply top up the month-end balance by:

• maintaining an increasing balance with monthly deposits of a minimum amount OR
• placing a periodic lump sum deposits that will be automatically converted by CIMB Bank into equal portions for your account.

 

Interest Rate	Month-end incremental deposit
	CIMB StarSaver
	Checking and Savings Account
0.8% p.a.	S$500 or more
0.5% p.a.	Less than S$500

Please refer to my previous post on CIMB StarSaver here. For more details, please refer to the official website.


Assuming you have S$25,000 cash,

With the Standard Chartered Bonus$aver Account, you will receive 1.88% p.a.* on your savings up to a $25,000 balance when you charge $500 per month to your Bonus$aver World MasterCard Credit or Debit Card. That's $470 interest a year. Not too bad for consolidating your credit card spend and your savings with one bank.

Current promotion: Get a Samsung GALAXY Tab 3 or $100 CashBack when you sign-up online with a minimum deposit. Details found here.

Please refer to my previous post on Standard Chartered Bonus$aver Current Account here. For more details, please refer to the official website.
 

Assuming you have S$50,000 cash, 

You should open an OCBC 360 account which is still currently the best savings account that is very rewarding for us to consolidate our salary credit, GIRO transactions and credit card spendings  with one bank. That's $1,525 interest a year or a cool $127 a month or up to 3.05% p.a. on the first S$50,000 balance. It is very good for an account which allows you the flexibility of withdrawing funds as and when required.

So, how does it work? You can earn 0.05% per year base interest for account balances of up to S$200,000 or base interest of 0.15% per year on balances above S$200,000.

Bonus interest of extra 1% per year can be earned each when you do all or any of the following:
1. Credit your salary every month by GIRO of at least S$2,000
2. Pay any 3 bills every month either through internet banking or GIRO
3. Spend at least S$400 on your OCBC Credit Cards every month - only main cardholder only

These conditions are quite easy to achieve for the man in the street as compared to similar products like the DBS Multiplier Account.

Please refer to my previous post on OCBC 360 Account here. For more details, please refer to the official website.

With the DBS Multiplier Account, you can earn up to 2.08% p.a. on the first S$50,000 of your savings just through your regular banking with DBS of S$7,500 or more per month. That's $900 to $1,040 interest a year.

This product is aimed at rewarding customers for consolidating their banking needs with DBS. The higher interest will be awarded if any or all of these add up to at least S$7,500 per month:
1. Your Salary is credited to a DBS / POSB account
2. Your Credit Card spendings with DBS / POSB Credit Cards
3. Your Home Loan from DBS / POSB
4. Your Investment Dividends are credited to a DBS / POSB account

Judging from the monthly cashflow amounts, DBS is targeting at the above average earners, spenders, those with big mortgages and the investment saavy folks with deep pockets. However, the redeeming factors are DBS includes all monthly credit card spendings of supplementary cardholders as well. For the PSOB/DBS home loan instalment repayments, both CPF and cash components are taken into consideration.

Total monthly banking with DBS or POSB	Interest Rate (p.a.)1
< S$7,500	0.05%
S$7,500 to < S$10,000	1.08%^
S$10,000 to < S$12,500	1.28%
S$12,500 to < S$15,000	1.48%
S$15,000 to < S$20,000	1.68%
S$20,000 and above	2.08%
1Remaining balance over and above the first S$50,000 will be accorded the prevailing base interest rate for that month.
^Effective from 1 Oct 2014, the interest rate of this tier is revised from 0.98% p.a. to 1.08% p.a.

Please refer to my previous post on DBS Multiplier Account here. For more details, please refer to the official website.

Fixed Deposits
If you have funds that you can stash away for 12 months, you may consider placing a time deposit to get higher interest rates.

Assuming you have S$25,000 cash or more, 
placing a 12-month time deposit with CIMB will earning you an interest of 1.25% p.a. Please refer to my previous post on this here.

Assuming you have S$30,000 cash or more, 
placing a 10-month time deposit with HSBC will get you an interest of 1.25% p.a (HSBC Advance) or 1.35% p.a. (HSBC Premier). Please refer to my previous post on this here.

Update @ 27 Jan 2015
You can also place a 12-month fixed deposit with RHB Bank and get an interest of 1.38% p.a. plus a Mistral Naturai Air Fryer with a S$200,000 deposit. Please refer to my latest post on this here.

Assuming you have S$50,000 cash or more,  
placing a 12-month time deposit with Maybank will earn you an interest of 1.35% p.a. and a 24-month time deposit yields an interest of 1.55% p.a. Please refer to my previous post on this here.

Assuming you have S$150,000 cash or more,  
placing it with ANZ Bank for 12 months will earn you an interest of 1.38% p.a.
Please refer to my previous post on this here.

So, have you decided where to park your emergency funds based on the above? Let us know if you know of other bank promotions which we may have missed out.

Update @ 27 Jan 2015
Assuming you have S$1,000 cash or more, 
placing a 12-month "time deposit" with POSB will earning you an interest of 1.88% p.a (the highest in the market now) plus an $88 cash ang pow if you are the first 10,000 qualifying customers. Please refer to my latest post on this here.