Mid-Month Round-Up: Hot Deals and Important News For April 2024

What a month it has been so far – April saw a slew of nerfs come in the first week of the month which unfortunately include everyone’s beloved UOB One account as one of the casualties. Things have quietened down somewhat a bit over the past week, though I suspect more nerfs will soon follow so stay subscribed for updates.

Despite the bad news, this month has also seen some fantastic promos that we can take advantage of before their end dates.

Fantastic travel insurance promos

April has fantastic travel insurance promos to look at. In fact, Amex Travel Insurance’s deal is so good that you can get sign-up rewards of eCapitaVouchers in excess of your travel insurance premium! It is ending really soon so get your application in latest 17th April.

Alternatively, you can also take advantage of SingSaver’s travel insurance promo and earn a bonus 4 miles per dollar on your policy purchase. That is ending 2nd May 2024.

Great credit card deals

This month also has great card deals to pick from from multiple banks.

Amex True Cashback’s promo comes in pretty timely due to the UOB Absolute nerf, and its current S$200 promo is the highest we’ve seen in recent memory. This deal is ending on 21st April 2024.

Citi’s mega flash deal started a while ago and it’s anyone’s guess whether the first 500 is still available, but even the gifts after the first 500 are really attractive. Finally, HSBC just had a switch of gift options: there is now a new ErgoTune Joobie option. Remember that you can always go to sethisfy.com/cards for a fuller list of card deals.

Hot deals from trading apps

Some bank interest rates may have dropped, but there are still great ways to get rewards and higher interest if we know where to look.

CMC Invest is offering as much as S$433 (as of 8th March 2024) in welcome gifts for you to try out their platform. moomoo is offering as much as 6.8% guaranteed returns with Moomoo Cash Plus so that is also definitely something you don’t want to miss. Finally, Webull continues offering big sign-up rewards for new users to open and fund their accounts.

CardUp’s income tax promo

It’s a little curious to me that it’s already mid April and we still haven’t seen much in terms of income tax promos. CardUp is earlier than the others to this, and it’s a great deal you can consider to earn miles or cashback from your income tax payment.

A couple of places to put savings

Bank rates have been dropping, but there are still a couple of places to get decent returns.

Singapore Savings Bond (SSB) is steadily increasing in rates, and given the recent decline in some bank account rates, they are starting to become more attractive again. It’s definitely something worth taking a look at.

HSBC has also announced their usual EGA promo and it looks really decent especially in the light of rate drops from other banks. Could be a good place to house funds in May 2024 when the nerfs for UOB One and Bonus$aver kick in. There is also another promo from UOB that I intend to cover in greater detail, so stay subscribed for updates.

Nerfs: some savings accounts see drop in interest rates

If you have missed this (and it’s pretty difficult to miss), popular savings accounts UOB One and Bonus$aver are dropping their rates from 1st May 2024 onwards.

UOB One will see a max effective interest rate of 4% p.a. provided you have S$150,000 of monthly average balance in it. Bonus$aver will see only 3.68% p.a. max (ignoring buying insurance/investment products). All is quiet on the OCBC 360 side of things, but I suspect (and have heard rumours) that a nerf will be announced in May for a drop of rates in June.

I’m still waiting for the dust to settle and for more changes to be announced, so stay subscribed because I will definitely look at ways to continue maximising interest rates on cash holdings nearer to the end of April.

More nerfs: credit cards continue to get Nerf Hammered

Savings accounts weren’t the only casualties of the Nerf Hammer, and UOB Absolute will see a big drop in cashback rate for many types of transactions that it is typically used for.

HSBC Revolution continues to be hammered, with three common categories of spend being excluded from its bonus rate. It’s not looking good for this card, and it is made worse by HSBC removing 1% bonus cashback from all HSBC credit cards under the Everyday+ rewards programme.

This month has been eventful that we even got something that I didn’t see coming – GrabPay Mastercard is being put to rest come 1st June 2024, and it’s been a wild ride we’ve had with it for the past 4 years.

When one door closes, another opens

Nerfs are unfortunately a part and parcel of the game, but there’s always going to be opportunities to get more rewards from our credit cards, savings accounts, and trading apps. Stay subscribed for more great deals and ways I’m going to navigate these turbulent waves of changes.

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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