HSBC EGA Savings Promo: Get up to 3.70% to 3.90% p.a. For January and February 2025
For the first month of 2025, HSBC released yet another HSBC EGA savings promo. For the months of January and February 2025, get between 2.70% to 2.90% p.a. interest for fresh funds added to your HSBC EGA. This is given on top of HSBC Everyday+ programme’s 1% p.a. bonus interest for the first month, which means you can get as much as 3.70% to 3.90% p.a.
Part of the trend of falling interest rates we’ve been seeing of late, the rates are lower than that of the previous month’s promo.
Promo Details
To qualify, you need to register by sending the following text message to 74722 from 1st to 31st January 2025:
EGA<space>First 9-digit of their Everyday Global Account number (e.g. EGA 123456789)
Those who have registered for previous EGA promos that covers January 2025 and/or February 2025 will not be qualified according to to my interpretation of the following clause in the terms and conditions: “if an Eligible Customer is already participating and/or has been invited to participate in any other deposit related promotion involving his/her Eligible Account(s) and such other promotion is still ongoing during the Promotional Period and/or Relevant Period, the relevant Eligible Account(s) are not eligible for this Promotion”.
Your account must also be opened on or before 31st December 2024. See the terms and conditions here.
Here are the tiers for this month’s promo:
| Customer Segment | Incremental ADB | Prevailing Interest Rate | Bonus Interest Rate | Total Interest Rate on Incremental ADB |
| Premier Elite | >S$0 | 0.05% p.a. | 2.85% p.a. | 2.90% p.a. |
| Premier | >S$2,000,000 | 0.05% p.a. | 2.85% p.a. | 2.90% p.a. |
| Premier | <S$2,000,000 | 0.05% p.a. | 2.75% p.a. | 2.80% p.a. |
| Personal Banking | >S$0 | 0.05% p.a. | 2.65% p.a. | 2.70% p.a. |
1% p.a. bonus interest for meeting HSBC Everyday+ Rewards programme
An additional 1% p.a. interest is awarded for meeting the HSBC Everyday+ Rewards programme. This has been an ongoing programme and all you need to do within the month is to do the following:
- Deposit a minimum of S$2,000 (or S$5,000 for Premier customers) in the HSBC EGA Account
- Make at least 5 transactions
These 5 transactions can be credit/debit card transactions or even FAST/PayNow transactions to other bank accounts. See the terms and conditions here.
The bonus interest of 1% p.a. will be capped at S$300. This is maxed out with about S$365,000 ADB in months with 30 days and roughly S$353,000 ADB in months with 31 days.
To get the most optimal yield – place funds for a single month
Note that the promo takes December 2024 to be the reference month while Everyday+ takes the month immediately before the current month (i.e. February 2025’s balance is compared against January 2025). This means that you would only be able to stack both the promo’s interest and Everyday+’s interest in a single month.
Example
For a personal banking customer with S$0 in their HSBC EGA and places in S$100,000 across January and February 2025, this is what they can expect:
| December 2024 | January 2025 | February 2025 | |
| Hypothetical Average Balance | S$0 | 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 |
| Promo Interest | N/A | ✅ 2.65% p.a. on S$100,000 | ✅ 2.65% p.a. on S$100,000 |
| Everyday+ Interest | N/A | ✅ 1% p.a. on S$100,000 | ❌ N/A (S$0 increase from previous month) |
| Effective Yield | N/A | 3.70% p.a. | 2.70% p.a. |
Notably, Everyday+ interest is received only on the first month because when the second month (February 2025) comes along, the S$100,000 is no longer considered “fresh” for Everyday+ since Everyday+ compares it to January 2025’s balance (i.e. the balance of the month before).
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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.
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