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Originally Posted by
ermen
Thought this was expensive still (the SCB AM miles promo)<br />Essentially you can get ~2.6% for 1 yr USD fixed DD = US$2.6k for a US$100k deposit opportunity cost<br />So US$2.6k => 240k AM (i.e. 1.08c per mile)... a little on the high side in my view
<br />yes and no. i dont want to do it because it locks up my money for too long.<br />1.08uscpm is ymmv. but if all the stars align its some big load of miles.<br /><br />re interest rate. dahsing gets u 2.5% savings interest rate if u have 800k, do autopay salary for 5000 min (si for 10k min would get u 2.3%) and do 4 of the following: (aavs on the atm octopus card, bill payment, $3000 cc spend, $3000 eps/cup payment, $50000 fx txn or $50000 stocks txn)<br />for 100k-800k savings, interest is 0.2% less.<br /><br />PS: SCB also has a facility where u get $66.6 (average savings across a month) savings/AM without locking up your money above 100k HKD for 8 mths. not sure about the cap.<br /><br />for 240000 miles, you're looking at 750k-1M of MS/p2p ($3-4/mile). at a worst case scenario this year of 3% agc losses u're looking at close to 30K HKD (or 4K USD) loss anyways, bring down the opportunity cost if you DO need the miles. it would be a lot of time savings.</div>