- The Campaign Period will run from 1 November 2020 until 31 December 2020 (both dates inclusive).
- The offer is available to all new clients of Standard Chartered Bank UAE, (hereinafter “the Bank”) in its Priority Banking segment.
- 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
- 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:
||Total Net Pay-out
||When you start a relationship with Salary Transferred to Standard Chartered
|Priority AUM Qualified
||When you start an AUM based Priority relationship with Standard Chartered
|Salary Transfer + AUM Qualified
||When you start an AUM based Priority relationship and
||AED 370,000 + 30,000
||When you start an AUM based Priority relationship, transfer your Salary and get a Visa Infinite Card with Standard Chartered
||50,000 Reward Points (equivalent to AED 1,000)
||AED 370,000 + 30,000 + Visa Infinite
||When you start an AUM based Priority relationship, transfer your Salary, get a Visa Infinite Card & a mortgage with Standard Chartered
(If via Mortgage Consultant AED1,000)
|AED 370,000 + 30,000 + Visa Infinite + Mortgage
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