HSBC EGA Savings Promo: Get up to 3.85% p.a. For April to June 2025
It’s April 2025 and HSBC has announced its monthly EGA promo applicable for the months of April, May, and June 2025. This month’s promo offers up to 2.85% p.a. on fresh funds compared to the average balance of March 2025. As usual, HSBC EGA users can stack this with Everyday+ Rewards programmes’s bonus 1% p.a. to get as much as 3.85% p.a. interest.
This is a slight drop from last month’s promo, which is fortunate given the recent, more sizeable drops in interest rates we’ve seen recently from OCBC and UOB. Lots of things happening lately so stay subscribed for updates.
Promo Details
To qualify, you need to register by sending the following text message to 74722 from 1st to 30th April 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 December 2024. See the terms and conditions here.
Interest Tiers
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. | 2.80% p.a. | 2.85% p.a. |
| Customers without wealth holdings | >S$0 | 0.05% p.a. | 2.70% p.a. | 2.75% p.a. |
I tend to avoid “wealth products” from banks as far as possible, and given that the interest rates aren’t significantly different, there is no point going out of one’s way to buy products from the bank for an additional 0.1% p.a. interest.
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$365,000 in a 30-day month like April or June, or S$353,225 for a 31-day month like May.
| 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
⚠️ Based on my own interpretation of the promo. Read through the terms and conditions yourself.
A good way to make full use of this promo would be to have an HSBC EGA with S$0 balance in March 2025. This way, every dollar added in April 2025 would be considered fresh funds for both the promo’s 2.75% p.a. rate and HSBC Everyday+ Rewards Programme’s 1% p.a. bonus rate.
Thereafter, zero out the account in May 2025 by transferring the funds to another place for interest before transferring the money back in June 2025. This allows you to get 3.75% p.a. on April and June 2025 (and money in May 2025 will earn whatever interest your other account/instrument is offering).
| March 2025 | April 2025 | May 2025 | June 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 | ✅ 2.70% p.a. on S$100,000 | N/A | ✅ 2.70% 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 | 3.75% p.a. | Whatever your other instrument gives | 3.75% p.a. |
If you were to simply leave your funds in all 3 months, you will only get 3.75% p.a. in the first month and 2.75% 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:
| March 2025 | April 2025 | May 2025 | June 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 | ✅ 2.70% p.a. on S$100,000 | ✅ 2.70% p.a. on S$100,000 | ✅ 2.70% 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 | 3.75% p.a. | 2.75% p.a. | 2.75% 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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