[Exclusive] Phillip SMART Park promo: Earn 5.8% guaranteed return for 30 days + S$20 cash coupon

Promo

Savings

By Beansprout • 09 Aug 2023 • 0 min read

Earn a guaranteed return of 5.8% per annum for 30 days when you deposit your funds into Phillip SMART Park. This means that you can earn S$238 for a S$50,000 deposit with the Phillip SMART Park Promo.

Phillip SMART Park Promo August 2023

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Summary of Phillip SMART Park Promo 

  • What's the deal: Earn a guaranteed return of 5.8% p.a. for 30 days when you deposit your funds into Phillip SMART Park. This means that you would be able to earn S$238 for a S$50,000 deposit. 
  • Eligibility requirements: Promotion is valid for fresh funds deposited into the Singapore dollar denominated Phillip Money Market Fund via the SMART Park account. A minimum deposit of S$1,000 is required.
  • What's important to note: Your returns for cash deposited into Phillip Smart Park will revert to the net returns on the Phillip money market funds after 30 days. 
  • Promo dates: The promotion will run till 31st August 2023

What's the deal with Phillip SMART Park Promo?

Phillip SMART Park is now running a promotion where you will earn a guaranteed return of 5.8% p.a. for 30 days. This means that you would be able to earn S$238 for a S$50,000 deposit. 

This is for the fresh funds deposited into the Singapore dollar denominated Phillip Money Market Fund via the SMART Park account.

To find out more about the Phillip Money Market Fund and the SMART Park account, read our review here. 

Phillip Smart Park Promo
Source: Phillip Capital

What are the eligibility requirements for Phillip SMART Park promo?

In order to be eligible for the promo, you must have an individual trading account with Phillip Securities, opt into the excess fund management facility (SMART Park) and deposit a minimum of S$1000.

#1 - The guaranteed 5.8% p.a. bonus return will only be earned during the 30-day holding period. 

Since the return on the money market fund is just above 3% as of 31st July 2023, you might be wondering how is the guaranteed 5.8% p.a. bonus return generated. 

Effectively, Phillip Securities will be topping up the difference as a bonus reward based on the difference between 5.8% p.a. and the underlying fund return. 

The bonus reward will be credited in lump sum to your trading account as cash bonus within 30 business days after the 30-day period ends.

#2 - Guaranteed 5.8% return is capped at S$50,000 of deposit

What this means is that if you put in more than S$50,000 into the Phillip SMART Park account, the excess amount beyond the first S$50,000 will just earn the returns from the SMART Park money market fund.

#3 - The deposit has to be a fresh fund

This means that it needs to be cash transferred from the bank account, and does not include funds transferred from Phillip accounts, internal transfers, and sales proceeds. 

The full terms and conditions of the Phillip SMART Park Promo can be found here. 

What else do I need to know about the Phillip SMART Park Promo?

It is important to note that your returns for cash deposited into Phillip Smart Park will revert to the net returns on the Phillip money market funds after 30 days. 

Read our review to learn out more about the Singapore dollar denominated Phillip Money Market Fund, read our review. 

Frequently asked questions about Phillip SMART Park Promo

Here are some commonly asked questions about Phillip SMART Park Promo by the Beansprout community:

#1 - Can I earn the promotional return of 5.8% p.a. for a full 30 days if I set up my account after 1st August?

The 30-day promo rate will start counting when your account is opened and have S$1k in your money market fund. 

This means that eligible clients can still earn the $238 if your account is opened by 31 Aug.

Step-by-step guide to Phillip SMART Park promo for existing customers

Step #1 - Login to POEMS > Acct Mgmt > Online Forms > Excess Funds Authorization 

Phillip Smart Park Opt In Step 1
Source: POEMS

 

Step 2: Fund your account 

Fund with S$1,000 or more (capped at S$50,000) to enjoy a 30-day return of 5.8% p.a.  

Beansprout Exclusive Promo for New Customers: Earn an additional S$20 cash coupon

Get S$20 cash coupon by Phillip Securities when you open a POEMS account through Beansprout and fulfill all the following criteria:

  1. New client to Phillip Securities (ie no existing POEMS account)
  2. Sign up via this exclusive link and opt-in to the CFD facility
  3. Fund in S$1,000 to successfully opened POEMS account within 2 months

This promotion will run till 31st August 2023. 

Have a question about the Phillip SMART Park promo? Ask away at the Beansprout Telegram Group

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