“SCB” | STANDARD CHARTERED BANK, incorporated in England and Wales with limited liability by Royal Charter 1853 reference number ZC18 and licensed to operate as a commercial bank in the United Arab Emirates (UAE) by the Central Bank of UAE; |
“Account(s)/ Account Balance(s)/ Overall Relationship Balance/ AUM” | Means Current, Savings, Term Deposit products and total average deposit balance in these Accounts. |
“Client” | Means Priority Private, Priority and Premium Banking Clients who hold an active Transacting Account(s) with SCB |
“Campaign” | Clients shall be eligible to earn Cash Back and Profit on Wealth$aver when they meet the campaign terms. |
“Campaign Period”
|
The Campaign period is between 2nd April 2025 to 30th June 2025, both days inclusive.
|
“Currency” | AED |
Standard Profit on Wealth$aver (Average Balance in AED) Per Annum | AED 500,000 to 4,999,999 – 2.75%
AED 5,000,000 to 10,000,000 – 3.50% |
“Special Profit” (Average Balance in AED) Per Annum | AED 370,000 to 499,999 – 2.00% |
“Salary Transfer” | Minimum of AED 30,000 credited into the client’s salary account monthly, net of all pre-deductions by the client’s employer, excluding any variable commissions |
Standard “Home Finance/ Mortgage Loan” | Minimum home finance disbursed value of AED 1,000,000 with rate type of either 3 Months variable rate or 1 Year Fixed rate. |
Criteria/Average Balance AED
(Table 1) |
Current / Savings Account AED | Salary Transfer AED 30,000 & Above |
Journey Credit Card AED |
Home Finance
AED |
Profit on Wealth$aver p.a. |
370,000 to 499,999 | 5,025 | 1,000 | 1,000 | 5,000 | 2.00% |
500,000 to 1,999,999 | 8,000 | 1,000 | 1,000 | 5,000 | 2.75% |
2,000,000 to 4,999,999 | 12,000 | 1,000 | 1,000 | 5,000 | 2.75% |
5,000,000 to 10,000,000 | 18,000 | 1,000 | 1,000 | 5,000 | 3.50% |
Account Opening Month
(Table 2) |
Funding Month | Period of maintaining the funds in the account | Cash Back + Profit Payout Month |
April 2025 | May 2025 | May – July 2025 | August 2025 |
May 2025 | June 2025 | June – August 2025 | September 2025 |
June 2025 | July 2025 | July – September 2025 | October 2025 |
illustrations (Table 3) |
Average Balance AED | CashBack Value AED | 3 Month Profit/ Hiba | Salary Cashback AED | Journey Card Cashback AED | Home Finance Cashback AED | Total Payout AED | Account Opening Month | Payout Month |
Wealth$aver Account | 370,000 | 5,025 | 1,850.00 | – | – | – | 6,875 | April 2025 | Aug 2025 |
Wealth$aver Account | 500,000 | 8,000 | 3,437.50 | – | – | – | 11,438 | May 2025 | Sept 2025 |
Wealth$aver Account | 2,000,000 | 12,000 | 13,750.00 | – | – | – | 25,750 | June 2025 | Oct 2025 |
Wealth$aver Account | 10,000,000 | 18,000 | 87,500.00 | – | – | – | 105,500 | April 2025 | Aug 2025 |
Wealth$aver + Salary Transfer | 370,000 | 5,025 | 1,850.00 | 1,000 | – | – | 7,875 | April 2025 | Aug 2025 |
Wealth$aver + Salary Transfer | 500,000 | 8,000 | 3,437.50 | 1,000 | – | – | 12,438 | May 2025 | Sept 2025 |
Wealth$aver + Salary Transfer | 2,000,000 | 12,000 | 13,750.00 | 1,000 | – | – | 26,750 | June 2025 | Oct 2025 |
Wealth$aver + Salary Transfer | 10,000,000 | 18,000 | 87,500.00 | 1,000 | – | – | 106,500 | April 2025 | Aug 2025 |
Wealth$aver + Journey Card | 370,000 | 5,025 | 1,850.00 | – | 1,000 | – | 7,875 | April 2025 | Aug 2025 |
Wealth$aver + Journey Card | 500,000 | 8,000 | 3,437.50 | – | 1,000 | – | 12,438 | May 2025 | Sept 2025 |
Wealth$aver + Journey Card | 2,000,000 | 12,000 | 13,750.00 | – | 1,000 | – | 26,750 | June 2025 | Oct 2025 |
Wealth$aver + Journey Card | 10,000,000 | 18,000 | 87,500.00 | – | 1,000 | – | 106,500 | April 2025 | Aug 2025 |
Wealth$aver + Home Finance | 370,000 | 5,025 | 1,850.00 | – | – | 5,000 | 11,875 | April 2025 | Aug 2025 |
Wealth$aver + Home Finance | 500,000 | 8,000 | 3,437.50 | – | – | 5,000 | 16,438 | May 2025 | Sept 2025 |
Wealth$aver + Home Finance | 2,000,000 | 12,000 | 13,750.00 | – | – | 5,000 | 30,750 | June 2025 | Oct 2025 |
Wealth$aver + Home Finance | 10,000,000 | 18,000 | 87,500.00 | – | – | 5,000 | 110,500 | April 2025 | Aug 2025 |
Wealth$aver + Salary + Card + Home Finance | 370,000 | 5,025 | 1,850.00 | 1,000 | 1,000 | 5,000 | 13,875 | April 2025 | Aug 2025 |
Wealth$aver + Salary + Card + Home Finance | 500,000 | 8,000 | 3,437.50 | 1,000 | 1,000 | 5,000 | 18,438 | May 2025 | Sept 2025 |
Wealth$aver + Salary + Card + Home Finance | 2,000,000 | 12,000 | 13,750.00 | 1,000 | 1,000 | 5,000 | 32,750 | June 2025 | Oct 2025 |
Wealth$aver + Salary + Card + Home Finance | 10,000,000 | 18,000 | 87,500.00 | 1,000 | 1,000 | 5,000 | 112,500 | April 2025 | Aug 2025 |
Arabic version of the Terms & Conditions available on request.