Showing posts with label Banks. Show all posts
Lifehacksg#11 - Getting a guaranteed 6.67% annualized rate of return
[savings type: $$; 6.67% P.A. ROI]
Alright guys, this is not an investment scam. It has nothing to do with insurance, funds or bonds. A follow-up post to our "there is a free lunch" lifehack, we present to you Lifehacksg#11 - getting a guaranteed 6.67% return on investment.
Standard Chartered Bank recently launched a new consumer product called the Bonus$aver account. Now there is a bunch of further details about how it works and benefits you (ie. 1.88% on up to $25,000 of your savings if you charge >$500 to your Bonus$aver credit card monthly, they are giving you a gold ingot for a deposit of more than $50,000 etc...), but Lifehacksg wants you to turn your focus away from all that hoo-hah and look at one specific feature.
By setting up and depositing any amount* into the account today, the bank is giving you $100. Yes, $100 into the credit card for any expenditure at all. Let's take a look at the * fine print - the reason why they define it as "any amount" is because until the end of June, they have waived the requirement for a minimum daily balance of $3000.
Now let's assume that you have to keep the minimum balance of $3000 in your Bonus$aver account. Ultimately, what you're getting is a $100 "interest return" for depositing $3000 with them. Furthermore, because you can close the account 6 months later, you're effectively locking up $3000 for a $3100 return - bringing your total annualized risk-free R.O.I. to 6.67%.
So there you go! Set up the account, deposit $3000 into it, and set a reminder to close the account and withdraw your money 6 months later. Of course, enjoy that $100. No need to thank us :D
Now, if you're only so kind to spread the word around with your friends by sharing this page!
Alright guys, this is not an investment scam. It has nothing to do with insurance, funds or bonds. A follow-up post to our "there is a free lunch" lifehack, we present to you Lifehacksg#11 - getting a guaranteed 6.67% return on investment.
Standard Chartered Bank recently launched a new consumer product called the Bonus$aver account. Now there is a bunch of further details about how it works and benefits you (ie. 1.88% on up to $25,000 of your savings if you charge >$500 to your Bonus$aver credit card monthly, they are giving you a gold ingot for a deposit of more than $50,000 etc...), but Lifehacksg wants you to turn your focus away from all that hoo-hah and look at one specific feature.
By setting up and depositing any amount* into the account today, the bank is giving you $100. Yes, $100 into the credit card for any expenditure at all. Let's take a look at the * fine print - the reason why they define it as "any amount" is because until the end of June, they have waived the requirement for a minimum daily balance of $3000.
Now let's assume that you have to keep the minimum balance of $3000 in your Bonus$aver account. Ultimately, what you're getting is a $100 "interest return" for depositing $3000 with them. Furthermore, because you can close the account 6 months later, you're effectively locking up $3000 for a $3100 return - bringing your total annualized risk-free R.O.I. to 6.67%.
So there you go! Set up the account, deposit $3000 into it, and set a reminder to close the account and withdraw your money 6 months later. Of course, enjoy that $100. No need to thank us :D
Now, if you're only so kind to spread the word around with your friends by sharing this page!
Lifehacksg#10 - There is a free lunch (Best Regards, Standard Chartered)
[savings type - $$; up to +$160 credit]
To quote Milton Friedman - "... there is no such thing as a free lunch." Today, Lifehacksg#10 presents our very own quote
I was surprised that most people don't know about Standard Chartered Bank's recent campaigns. We'd like to call them - "get in your pants" campaign.
What the bank is trying to do is to literally "get in your pants" (through your wallets) by enticing consumers to sign up for credit cards with them. To do this, the bank is actually giving you money to sign up for their cards. For a limited time only, consumers get a $80 credit into your account once the principal card is activated. You have until 30th June 2013 to take action.
The $80 cashback is applicable for the first 2 principal credit cards, which brings the total amount they will put in your wallet to $160. Yup, $160 worth of free lunches. You have 6 months to use this credit, after which it will be forfeited.
In case you are wondering, it is TRUE. This is the extent which banks will go to just to "get in your pants".
Just remember, if you really don't wish to use their cards after you reap the $160 benefits, just set a reminder in your calendar to cancel the card 6 months later.
All's good.
To quote Milton Friedman - "... there is no such thing as a free lunch." Today, Lifehacksg#10 presents our very own quote
"...hell yeah, we found you some free lunch."
I was surprised that most people don't know about Standard Chartered Bank's recent campaigns. We'd like to call them - "get in your pants" campaign.
What the bank is trying to do is to literally "get in your pants" (through your wallets) by enticing consumers to sign up for credit cards with them. To do this, the bank is actually giving you money to sign up for their cards. For a limited time only, consumers get a $80 credit into your account once the principal card is activated. You have until 30th June 2013 to take action.
The $80 cashback is applicable for the first 2 principal credit cards, which brings the total amount they will put in your wallet to $160. Yup, $160 worth of free lunches. You have 6 months to use this credit, after which it will be forfeited.
In case you are wondering, it is TRUE. This is the extent which banks will go to just to "get in your pants".
Just remember, if you really don't wish to use their cards after you reap the $160 benefits, just set a reminder in your calendar to cancel the card 6 months later.
All's good.
