HSBC EGA Savings Promo: Get up to 3.90% p.a. For March to May 2025
March 2025 is upon us and the monthly promo for HSBC EGA is out — get 2.90% p.a. interest on fresh funds compared to your February 2025’s average balance. This rate is valid for the months of March, April, and May 2025.
This is on top of HSBC Everyday+ programme’s 1% p.a. bonus interest which means that the maximum yield achievable is 3.90% p.a, a rise from last month’s promo.
Promo Details
To qualify, you need to register by sending the following text message to 74722 from 1st to 31st March 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. See the terms and conditions here.
Interest
There is only one tier this time, with all customers receiving the same interest:
| Customer Segment | ADB | Prevailing Interest Rate | Bonus Interest Rate | Total Interest Rate on Incremental ADB |
|---|---|---|---|---|
| All customers | >S$0 | 0.05% p.a. | 2.85% p.a. | 2.90% p.a. |
Interest is given on fresh funds compared to the average balance in February 2025.
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.
HSBC Everyday+ Rewards programme’s cashback maxes out at S$300 per month, this is reached with an average daily balance (ADB) of around S$353,225 for a 31-day month like March and May, or S$365,000 in a 30-day month like April.
| 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 |
Good way to optimise this
A good way to make full use of this promo would be to have an HSBC EGA with S$0 balance in February 2025. This way, every dollar added in March 2025 would be considered fresh funds for both the promo’s 2.90% p.a. rate and HSBC Everyday+ Rewards Programme’s 1% p.a. bonus rate.
Thereafter, zero out the account in April 2025 by transferring the funds to another account that gives good interest before transferring the money back in May 2025. This allows you to get 3.90% p.a. on March and May 2025 (and money in April 2025 will earn whatever interest your other account is offering).
| February 2025 | March 2025 | April 2025 | May 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 | ✅ 2.85% p.a. on S$100,000 | N/A | ✅ 2.85% 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 | 3.90% p.a. | N/A | 3.90% p.a. |
If you were to simply leave your funds in all 3 months, you will only get 3.90% p.a. in the first month and 2.90% 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:
| February 2025 | March 2025 | April 2025 | May 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 | ✅ 2.85% p.a. on S$100,000 | ✅ 2.85% p.a. on S$100,000 | ✅ 2.85% 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 | 3.90% p.a. | 2.90% p.a. | 2.90% 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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why must account be opened on or before 31st December 2024. if i open this month, this will not be applicable?
Not eligible. Not sure why, ask HSBC
hsbc charges $5 fall below fee for balances below $2k, so maybe $0 balance not quite a good idea