HSBC EGA Savings Promo: Get 3% to 3.7% p.a. From May to July 2025
HSBC has unveiled its monthly EGA promo for the months of May, June, and July 2025 — EGA users can get between 2% to 2.7% p.a. interest on fresh funds compared to the account average balance in April 2025. As usual, this bonus interest rate is on top of the 1% p.a. given by Everyday+ Rewards programme, resulting in 3% p.a. to 3.7% p.a. possible.
Unfortunately, the promo has dipped quite a bit from last month since the bigger number of 3.7% p.a. is only achievable if one has wealth products with the bank. For many, 3% p.a. is as good as it gets for this month’s promo. Stay subscribed for an upcoming piece on what I’m doing with my cash savings as rates continue to slide.
Promo Details
To qualify, you need to register by sending the following text message to 74722 from 1st to 31st May 2025:
EGA<space>First 9-digit of their Everyday Global Account number (e.g. EGA 123456789)
If your account is still participating in another deposit related promotion, your account will not be eligible for this promo. Your account must also be opened on or before 31st January 2025. This is a little different from the past few promos where only accounts opened on or before 31st December 2024 were eligible.
See the terms and conditions here.
Interest Tiers
Like last month, the promo offers two different tiers depending on whether customers own “eligible wealth products” or not:
| Customer Segment | Incremental Deposits ADB | Prevailing Interest Rate | Bonus Interest Rate | Total Interest Rate on Incremental Deposits ADB |
|---|---|---|---|---|
| Customers with wealth holdings | >S$0 | 0.05% p.a. | 2.65% p.a. | 2.70% p.a. |
| Customers without wealth holdings | >S$0 | 0.05% p.a. | 1.95% p.a. | 2.00% p.a. |
Unlike last month, however, the difference is significantly bigger this time at 2% p.a. versus 2.7% p.a. I tend to avoid “wealth products” from banks as they tend to be fee-laden and added interest from one’s bank account tends not to make up for the cost involved.
That said, I will take a look at whether there are any products that the bank offers that could make sense given that the 0.70% p.a. difference can be quite substantial for larger bank balances. Stay subscribed for updates.
1% p.a. bonus interest for meeting HSBC Everyday+ Rewards programme
An additional 1% p.a. interest is awarded on fresh funds (compared to the preceding month) for meeting the HSBC Everyday+ Rewards programme.
Take note that this bonus interest will end from 1st July 2026 onwards.
You can get 3% p.a. on May and June
Assuming you have an HSBC EGA with S$0 balance in April 2025, every dollar of funds you transfer in May 2025 will be considered “fresh” and qualify for both the bonus interest of 1.95% p.a. and Everyday+ Rewards Programme’s 1% p.a. bonus interest. (Note that today, 1st May, is a public holiday and any amount transferred in today will only be valued from 2nd May onwards.)
Thereafter, you can zero out your account in the month of June so that your funds will be “fresh again” in July 2025 and can qualify for Everyday+ 1% bonus interest. This would allow you to get the maximum possible 3% p.a. on both May and July 2025, and the money in June 2025 will earn whatever interest your other instrument is offering.
| | April 2025 | May 2025 | June 2025 | July 2025 |
| Hypothetical Average Balance | S$0 | S$100,000 | S$0 | S$100,000 |
| Base Interest | N/A | ✅ 0.05% p.a. on S$100,000 | N/A | ✅ 0.05% p.a. on S$100,000 |
| Promo Interest | N/A | ✅ 1.95% p.a. on S$100,000 | N/A | ✅ 1.95% p.a. on S$100,000 |
| Everyday+ Interest | N/A | ✅ 1% p.a. on S$100,000 | N/A | ✅ 1% p.a. on S$100,000 |
| Effective Yield | N/A | 3.00% p.a. | Whatever your other instrument gives | 3.00% p.a. |
If you were to simply leave your funds in all 3 months, you will only get 3% p.a. in the first month and 2% p.a. on the other 2 months. This is because Everyday+ Rewards’ 1% p.a. is given on incremental funds compared to the month before. Example:
| April 2025 | May 2025 | June 2025 | July 2025 | |
| Hypothetical Average Balance | S$0 | S$100,000 | S$100,000 | S$100,000 |
| Base Interest | N/A | ✅ 0.05% p.a. on S$100,000 | ✅ 0.05% p.a. on S$100,000 | ✅ 0.05% p.a. on S$100,000 |
| Promo Interest | N/A | ✅ 1.95% p.a. on S$100,000 | ✅ 1.95% p.a. on S$100,000 | ✅ 1.95% p.a. on S$100,000 |
| Everyday+ Interest | N/A | ✅ 1% p.a. on S$100,000 | ❌ No increase from the month before | ❌ No increase from the month before |
| Effective Yield | N/A | 3% p.a. | 2% p.a. | 2% p.a. |
A note on fresh funds
As June is a 30-day month, it occured to me that it is likely better to transfer funds back in on 2nd July 2025 to avoid the 30-day clause HSBC has in determining whether funds are fresh.
I’m not 100% sure whether this is a necessary step, but strictly speaking, 1st June does fall in the “past 30 days” when 1st July is upon us, so there could be a chance the funds will not be considered fresh. Do chip in if you have experience in a similar situation.
Subscribe for more deals and updates!
With rates sliding and lower interest rates taking effect, I have been taking a long look at my cash strategy. Stay subscribed for an update on what I’m doing with my cash savings.
If you’re someone who wants to earn more from credit cards, savings accounts and other financial deals, stay subscribed to the Telegram so you can be notified of news and deals. Leave notifications turned on so that you don’t miss time-sensitive updates!
Seth Wee was a licensed financial adviser representative from 2009 to 2025, with over 16 years of experience in Singapore’s financial advisory industry.
He started Sethisfy.com in 2019 to share practical insights on credit cards, banking products, and miles strategies, helping readers identify financial products that deliver the best value. Seth has been featured in CNA, Channel 8, Today, and a host of other publications. In 2025, he was also part of a panel at CPF’s Ready For Life festival.
Subscribe to the channel for free updates!
Disclaimer: I may receive an affiliate/referral fee when you sign up for services/products on this site, and such fees keep the site running. I would only recommend services/products I would personally use or recommend to my own friends and family, but I do not provide any warranty or guarantee for the quality of these services/products. Thank you for supporting my site!
Please exercise due diligence when signing up for any service/product as I will not be liable for any personal loss, financial or otherwise. Content published here are my sole views and personal opinion, and none of the information here constitutes personal financial advice nor represents the views of my employer(s).