5 thoughts on “Earn 3.55% on Savings Account with BOC Saver in Singapore”

  1. Hello Aditya,
    Thank you, as always for your prompt and enlightening response.
    My fears are the same, however I overlooked the accumulated interest for upto 3 yrs. Amounting to almost 24 %.

    Doesn’t appear to be such a good idea after all.
    I would rather take the simpler meat and potatoes approach and go with an NRE FD.
    Thanks and regards!
    D. S..


  2. Hi Aditya,
    What’s your opinion on Smart Owner property investment in real estate for NRI or OCI individuals?
    Is legitimate?
    Is it safe? Is it lucrative?
    Do you advise it?


    1. Hi D. S.,

      I had not heard about Smart Owner before you mentioned it. Did a quick search and it seems like a crowd funded real estate scheme.

      The selling point is getting a property for about 20 to 30% off the market rate but the catch is that you would not know the builder or property till it’s 100% funded (sold). Also you are to pay the amount 100% upfront.
      Logically looking at the structure – a construction takes 2 to 3 years minimum to complete (could take longer) and by paying upfront you are loosing the opportunity of earned interest which would amount to around 16 to 24% @ 8% p. a. So the discount that you get is basically your own earned interest.
      I am personally not comfortable putting in money without knowing the builder or the project and it’s absolutely possible to get 20-30% discount if you approach the builder and pay up the whole amount upfront. So all in all not something I would put my money in.


  3. Interesting. I am currently having ocbc 360 account. Basically that also gives bonus for salary credit as 1.2% and for 3 payments it gives 0.5%. So ocbc 360 is still better without including credit card spend.

    The BOC card main difference is the credit card bonus of 1.5% instead of 0.5% in ocbc. If you have a balance of max 60k, then annual bonus of credit cards is 900$ so monthly it becomes $90. 90 over 500 spend is like 20% saving on credit card bills which is awesome.

    On the other hand if account balance is like 10k then credit card monthly bonus becomes like 15$. This can be earned from using individual credit card discounts like anz Optimum card has 5% rebate on chosen category. This is my favorite card.

    But nevertheless this is interesting!


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