HSBC EGA Savings Promo: Get up to 3.88% p.a. For February and March 2025
It’s February 2024 and a new HSBC EGA savings promo has rolled along. For the months of February and March 2025, get between 2.60% to 2.88% p.a. interest with the promo together with the base interest rate. This is given on top of HSBC Everyday+ programme’s 1% p.a. bonus interest.
The maximum yield possible is between 3.60% to 3.88% p.a. interest depending on customer segment and amount of funds placed.
Promo Details
To qualify, you need to register by sending the following text message to 74722 from 1st to 28th February 2025:
EGA<space>First 9-digit of their Everyday Global Account number (e.g. EGA 123456789)
You can also register for the promo via the HSBC app.
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 December 2024. It’s strange that accounts opened in January 2025 do not seem to qualify, but it could also be because the terms and conditions were not updated correctly. See the terms and conditions here.
Tiers
| Customer Segment | Incremental ADB | Prevailing Interest Rate | Bonus Interest Rate | Total Interest Rate on Incremental ADB |
|---|---|---|---|---|
| Premier Elite | >S$0 | 0.05% p.a. | 2.83% p.a. | 2.88% p.a. |
| Premier | ≥S$2,000,000 | 0.05% p.a. | 2.75% p.a. | 2.80% p.a. |
| Premier | <S$2,000,000 | 0.05% p.a. | 2.65% p.a. | 2.70% p.a. |
| Personal Banking | >S$0 | 0.05% p.a. | 2.55% p.a. | 2.60% 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.
Optimal balance to have
HSBC Everyday+ Rewards programme’s cashback maxes out at S$300 per month, this is reached with an average daily balance (ADB) of S$391,071.43 in a 28-day month.
| Number of Days in a Month | Average Daily Balance to Max S$300 (at 1% p.a.) |
| 28 | S$391,071.43 |
| 30 | S$365,000 |
| 31 | S$353,225.81 |
An ADB higher than these figures will no longer get the 1% bonus interest from HSBC Everyday+ Programme. You should hence try not to exceed the amounts stated above if you want the best yield for your funds.
To get the most optimal yield – place funds for a single month
Note that while the promo takes January 2025 to be the reference month, Everyday+ takes the month immediately before the current month (i.e. March 2025’s balance is compared against February 2025).
This means that you would only be able to stack both the promo’s interest and Everyday+’s interest in a single month. Either place your funds in February 2025 (up to S$391,071) or March 2025 (up to S$353,225) to get the most interest possible from this promo.
Example
For a personal banking customer with S$0 in their HSBC EGA in the month of January 2025 and places in S$100,000 across February and March 2025, this is what they can expect:
| January 2025 | February 2025 | March 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 | ✅ 2.55% p.a. on S$100,000 | ✅ 2.55% 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 | 3.60% p.a. | 2.60% p.a. |
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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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