Priority Banking Cashback

1. The Campaign Period will run from 1 November 2020 until 31 December 2020 (both dates inclusive).
2. The offer is available to all new clients of Standard Chartered Bank UAE, (hereinafter “the Bank”) in its Priority Banking segment.
3. For the purpose of this campaign:

3.1 New to Bank clients are defined as clients who have not been Priority Banking clients of the Bank within the past 12 months and have opened accounts during the Campaign Period and/or do not hold existing Current and/or Savings Account and/or Term Deposit accounts with the Bank in its Personal Banking, Premium Banking, Priority Banking or Private Banking segments.
3.2 Eligible products for Deposit Products include Current and/or Savings Account, MortgageOne and SaadiqOne Accounts and all Term Deposits, including Saadiq variants.
3.3 Eligible products for Investments include Mutual Funds, Structured Products, Wrap products, Fixed income securities, Smart Savings Plans and Single premium insurance, including Investments held under Wealth Lending.

3.4 AUM is calculated as the sum of balances of all Deposit Products and Investments, in AED or foreign currency equivalents.

3.5 Salary transfer is defined as minimum AED 30,000 credited into the client’s salary account on monthly basis, excluding any variable commissions.

3.6 New Funds: For New to Bank clients, New Funds are defined as the maximum average monthly AUM held by the client during any 1 of the 2 calendar months, following the month in which the account was opened.

3.7 Eligible products for Protection include Term Life Insurance plans and Whole of Life Insurance Plans.

3.8 Eligible products for Credit Cards include Visa Infinite only, .

3.9 Eligible products for mortgages include MortgageOne, SaadiqOne, Standard Mortgages under Conventional or Saadiq categories

4. Cashback Offer

4.1 All clients who meet the minimum eligibility criteria set out below for the products are eligible for the maximum cashback based on tiers below:

 4.2 An individual client can receive a maximum cashback of AED 7,000, if they qualify on all the tiers as per table above.

4.3 Cashback Pay-outs will be as per the following schedule:

4.3.1 Clients establishing a Priority Relationship in November 2020 with Salary transferred in November 2020, will be eligible for pay-out end of December 2020

4.3.2 Clients establishing a Priority Relationship in November 2020 with Salary transferred in December 2020, will be eligible for pay-out end of January 2021

4.3.3 Clients establishing a Priority Relationship in December 2020 with Salary transferred in December 2020, will be eligible for pay-out end of January 2021

4.3.4 Clients establishing a Priority Relationship in December 2020 with Salary transferred in January 2021, will be eligible for pay-out end of February 2021

4.3.5 Clients establishing an AUM Priority Relationship and funding the account in November 2020, will be eligible for pay-out end of March 2021, provided the client maintains at least a 3-month minimum average balance funding of AED 370,000 in each month

4.3.6 Clients establishing an AUM Priority Relationship in November 2020 and funding the account in December 2020, will be eligible for pay-out end of April 2021, provided the client maintains at least a 3-month minimum average balance funding of AED 370,000 in each month

4.3.7 Clients establishing an AUM Priority Relationship and funding the account in December 2020, will be eligible for pay-out end of April 2021, provided the client maintains at least a 3-month minimum average balance funding of AED 370,000 in each month

4.3.8 Clients establishing an AUM Priority Relationship in December 2020 and funding the account in January 2021, will be eligible for pay-out end of May 2021, provided the client maintains at least a 3-month minimum average balance funding of AED 370,000 in each month

4.3.9 Clients will earn cashback in the form of Rewards Points that will be credited to their approved Standard Chartered Visa Infinite Credit Card within 30 days of card activation

4.3.10 Clients with a mortgage approved during the campaign and disbursed up to end of , will be eligible for pay-out end of April 2021

4.4 Mortgage subscribed via a mortgage consultant will be eligible for a cashback of AED1,000.

4.5 Cashback are non-transferable and cannot be paid, remitted or deposited to a person or account other than the client.

4.6 Cashback will not be offered on individual subscription of Credit Card or Standalone mortgage product.

5. The Bank shall not pay late payment charges or additional profit for any delay in giving the cashback and/or prize.
6. The Bank shall not be liable for any delay in giving the cashback and/or prize if such delay is because the client cannot be contacted.
7. Minor / Guardianship accounts are excluded from the campaign.
8. Transfer of funds from a client’s spouse, siblings, parents or children’s accounts into the client’s account via internal transfer, cash withdrawal and deposit or transfers routed through other bank(s) will be excluded from New Funds calculations.
9. Setup of multiple family accounts will not be eligible under the campaign and will be excluded from New Funds calculations.
10. Cashback on Credit Cards are applicable on successful applications and final approval either via online channel or physical applications, which will be given only after verification of all information with documents and is at the sole discretion of the Bank. Clients will be required to activate their credit card and successfully generate their Credit Card PIN. Clients whose application is rejected for any reason and clients who have closed their Standard Chartered Credit Card within the last six (6) months from the date of application will not be eligible for the Cashback on Credit Cards.
11. The Bank reserves the right to disqualify any client from the cashback and/or prize if it has reasonable grounds to believe the client has breached any of the terms, conditions and rules of the campaign. It also has the right at any time to verify the validity of the eligibility of all clients, not limited to just the information provided.
12. All taxes, fees and other charges, if any, payable on the cashback and/or prize shall be the sole responsibility and liability of the client.
13. The Bank reserves the right to terminate the campaign and to vary or modify any of the terms and conditions herein from time to time. In case of disputes, the decision of the Bank shall be final and binding. Further, the Bank reserves the right to cancel or amend the campaign and these terms and conditions without notice in the event of a catastrophe, war, civil or military disturbance, act of God or any actual or anticipated breach of any anticipated law or regulation or any other event outside the Bank’s control. Any change to the campaign would be notified as soon as possible by the Bank. In the event of such change or termination, clients agree to relinquish their rights in respect to the campaign and acknowledge that they will have no recourse against the Bank
14. This offer is not valid in conjunction with any other special promotion or other reward periodical campaign.
15. The campaign and these terms and conditions are governed by the Laws of the United Arab Emirates and any disputes will be subject to the exclusive jurisdiction of the courts of the Dubai.
16. All other Standard Chartered Bank Terms and Conditions apply. Please visit sc.com/ae for full terms and conditions.