just opened the SCB eSaver to take advantage of the 5% p.a. Offer. The food at Puchong branch is so-so only.

as long as you don't touch money deposited within Oct to Dec, you will get 5% similar to FD.
The ATM debit card is OPTIONAL.

SCB Puchong branch wont take big cash deposit, as lack of security. All SCB will open every Sat for these promo.

SC T&C requires a min of "ADB" of 3K throughout Oct (31 days). It means that if you deposit 3K on 1/10/11 and maintain it for 31 days,it's OK. If you open the account on 11/10/11 then you need 4.4286K. That is 4.4286 x 21/31=3. If you open the ac on 31/10/11 and it'll be 93K. Wah lau !

Better be quick if you want to take advantage of the promo.

then have to use cheque ?

SC T&C requires a min of "ADB" of 3K throughout Oct (31 days). It means that if you deposit 3K on 1/10/11 and maintain it for 31 days,it's OK. If you open the account on 11/10/11 then you need 4.4286K. That is 4.4286 x 21/31=3. If you open the ac on 31/10/11 and it'll be 93K. Wah lau !

Better be quick if you want to take advantage of the promo.

open a Saadig $aver-i today 1/10/11 with a cheque deposit, according to the guy who help us with the opening of account, the deposit is counted as of today and not when the cheque is cleared. Wonder how true is this?

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Added on October 1, 2011, 11:07 pm
That's not how it works. As long as your ADB is >=3k you will enjoy the 5% bonus. Please look at the formula in the T&C.

Example from the T&C
Ms B opens her account on 22 October 2011.
The total of day-end balances in her account in October 2011 is RM150,000.
Ms B's account has been open for 10 days in October 2011.
The ADB in that account for October 2011 = [RM150000] / 10 days = RM15000.

For November 2011, the total of day-end balances in that account is RM200,000. There are 30 days in November. The ADB in that account for November 2011 = RM200,000 / 30 days = RM6,666.66

4. Eligible Customers will enjoy a total special interest of 5% p.a. on the amounts in their Promotion Accounts which satisfy the conditions set out below, for the months of October, November and December 2011 ("Bonus Period"). This special interest consists of bonus interest ("Bonus Payments") plus interest at the effective interest rate then applicable to the Promotion Account.
  i.e. Bonus Payments rate = 5% p.a. – effective interest rate p.a. on that account

The bank isn't going to use the ADB to calculate our Interest right?

The eSaver account Bonus Payments rate = 5% p.a. – effective interest rate p.a. on that account

If your balance < RM100k, the effective interest rate is 0.6%
Bonus Payment rate = 4.4%

It's not 0.6% + 5% .... Beware !!!! 

currently no banks offering 5% interest.
Wah, first time I hear Bank don't want accept cash. Must be the chief cashier on leave.

If you add money into account in November and December, the amount also gets interest 5% right?

Anyway I also found out that besides the E$aver account, the Islamic Savings Account also entitled to the 5%. As for the Salary Savings account, have to top up RM1K every month. So you can have 3 account earning 5% interest.

Not only that, SCB can offer FD higher than 3.6% for 12 months.

The Bonus Payment interest (aka 5%) is based on Average Daily Balance (ADB) right after end of the month.
That's why SCB needs 3 working days before they credit the Bonus Payment.

Currently I have a saadiq$aver-i, does it mean I can participate this 5% promo without open any new account?

Ronnie:

So if I were to only deposit RM3K by cheque on 1st October (Sat) and the cheque clears on 4th (Tues) earliest it means I cannot get 5% interest. I work out if I got RM10K only, last day for me to open an account is on 19th October (Wed) so that the cheque can be cleared on 21st October 2011(Friday).

ADB = RM10,000 x 10days (21st to 31st Oct)/31days = RM3225.806

Is this correct?

It seem complicated their interest calculation. Say if I open account on 1 Oct and bank-in cash RM10,000 on the same day. So the interest will be $10,000 x 5% x 3/12 = $125?

Yes. Approx RM125 for the WHOLE promotion period.
The actual calculation should be based on number of days, not number of months

SCB

Went to see SCB officer, this is the info. for new account holder, i asked only for new account.

Starting 1/Oct, open e$aver account or supersalary(?) account, with minimum of RM3000,
you will enjoy 5% interest.

condition is you must maintain RM3000. (average daily balance)
interest is calculated daily (logical coz you may add or withdraw any day between 1/Oct to 31/Dec2011, see scenario B)

Example

Scenario A
1/Oct I put in RM 10,000.
the interest is RM 10,000 x 0.05/365 = 1.370 per day
no withdrawal in Oct.
then the interest I earned is RM 1.370 x 31 = RM 42.47 (Oct interest)
no withdrawal in Nov
then the nov interest is RM 1.37 x 30 = RM 41.10
Oct plus Nov interest earned = RM 83.57

Scenario B
If 1/Oct -31/Oct, balance is RM 10, 000 but on 15/nov, deposit RM 3000
then
1/Nov- 14.Nov, interest earned RM 1.37 x 14 days = RM19.18

15/Nov interest for that day RM 13,000 x 0.05/365 = RM 1.78
meaning
15/Nov to 30/Nov, interest earned RM 1.78 x 16 days = RM28.48
Oct plus Nov interest earned = 42.47 + 19.18 + 28.48 = RM 90.13
account can be closed after 31/Dec/2011
no need ATM card unless you want to pay RM8 per year

SC T&C requires a min of "ADB" of 3K throughout Oct (31 days). It means that if you deposit 3K on 1/10/11 and maintain it for 31 days,it's OK. If you open the account on 11/10/11 then you need 4.4286K. That is 4.4286 x 21/31=3. If you open the ac on 31/10/11 and it'll be 93K. Wah lau !

Better be quick if you want to take advantage of the promo.

let say i deposit rm3k, for three month i will only get rm37++ rite? izzit consider high compared to other bank?

Not right.
19th to 31st Oct = 13 days

19 Oct Day-End Balance : RM0.00
20 Oct Day-End Balance : RM0.00
21 Oct Day-End Balance : RM10000.00
22 Oct Day-End Balance : RM10000.00
23 Oct Day-End Balance : RM10000.00
24 Oct Day-End Balance : RM10000.00
25 Oct Day-End Balance : RM10000.00
26 Oct Day-End Balance : RM10000.00
27 Oct Day-End Balance : RM10000.00
28 Oct Day-End Balance : RM10000.00
29 Oct Day-End Balance : RM10000.00
30 Oct Day-End Balance : RM10000.00
31 Oct Day-End Balance : RM10000.00

Total Day-End Balance from 19-31 Oct = RM110000
ADB = RM110000 / 13 days = RM8461.54

http://www.standardchartered.com.my/person...rpromo/tnc.html

6.1
“ADB” means the average daily balance in an account or accounts in a calendar month. ADB is calculated as follows:
  For accounts opened in October 2011

ADB in October = Total of day-end balances in the account from account opening
date to end of October
Number of days for which the account was open in October

ADB in November or December = Total of day-end balances in the account every day in that month
Number of days in that month
  Example
 
Ms B opens her account on 22 October 2011. The total of day-end balances in her account in October 2011 is RM150,000. Ms B's account has been open for 10 days in October 2011. The ADB in that account forOctober 2011 = RM150000] / 10 days = RM15000.
For November 2011, the total of day-end balances in that account is RM200,000. There are 30 days in November. The ADB in that account for November 2011 = RM200,000 / 30 days = RM6,666.66
8.2 To be eligible for Bonus Payments in any month of the Bonus Period:
 
(a) a New Customer must have an ADB of at least RM3,000 in their Promotion Accounts during the Promotion Period. Customers who do not satisfy that minimum ADB criteria will not be eligible for any Bonus Payments in that account even if they achieve a higher ADB in later months; and
(b) the ADB in the Promotion Account in that month must also be at least RM3,000.[