Priority Cashback Saadiq XtraSaver Account

• The Saadiq XtraSaver Account (the “Account”) is available in AED & USD denomination only. The opening of the Account will be limited to 1 account per currency. The Bank may pay an amount over and above the Mudarabah profit amount referred hereafter as “Hiba”. Only Fresh Funds may be deposited into the Account. “Fresh Funds” are defined as funds brought in from outside Standard Chartered Bank UAE (the “Bank”) within 90 days of opening the Account.
• Profit Details:

^B “Calendar Month” being one of the twelve months of the calendar year.

• All Transactions will be considered completed on the Value Date (the date of the transaction as determined by our Banking systems). Transactions performed on Fridays and public holidays will reflect on the next Bank working day.
• If the Account is closed before the end of the Calendar Month, the Bank’s client (hereinafter referred to as the “Client”) shall only earn the profit as per the terms and conditions of Saadiq Savings account.

• * The above example in Table 1 depicts profit rate applicable on AED currency. The Hiba proportion is subject to change at any time and shall be applicable from the following month. If no more than 1 debit transaction is made to the Account per month, the Client may get a Hiba of up to 1% p.a. each month for the first two consecutive months and up to 2% p.a. from the third consecutive month onwards. Should there be 2 or more debit transactions in the Account in a month, the Client shall not be considered eligible for any Hiba amount, whereas Mudarabah profit amount shall continue to be paid to the Client. The Bank may only pay a Hiba if the Mudarabah pool earns a profit, otherwise no Hiba amount to be paid to the Client. In case of losses under Mudarabah, the Hiba will not be extended. The Bank will offer Hiba at its sole discretion and not under any obligation.
• Debit transactions include all withdrawals from the Account, including, but not limited to, the Bank’s fees and charges on the transaction initiated by the Client, standing orders, financing recoveries, retail purchases, ATM withdrawals etc. The debit transactions in which separate Bank fees and charges are levied include the Bank’s UAE ATM withdrawals, retail purchases, 3D Secure transactions and utility bill payments. This also includes the instance where a Client initiated debit transaction is subsequently reversed and credited back to the Account.
• ¹Mudarabah profit shall be calculated based on the monthly average balance in the Account and shall be paid on the last business day of each Calendar Month.
• ²If you hold other accounts under the same master number as the Account, the minimum balance requirements of AED 3,000 (or foreign currency equivalent) (the “Minimum Balance Requirements”) are applicable to those accounts. However, any balances held in the Account will apply toward satisfaction of the Minimum Balance Requirements for those accounts.
• These Saadiq XtraSaver Terms and Conditions should be read in conjunction with Saadiq Accounts Terms and Conditions, as amended from to time.

• The Campaign Period will run from 1 May 2018 until 31 August 2018 (both dates inclusive).
• The offer is available to all new Priority Banking clients of Standard Chartered Bank UAE, (hereinafter “the Bank”).
• All new Priority clients who opened accounts during this period and meet the campaign criteria will be eligible for rewards.
• This offer is only for new-to-bank Priority clients who have not been Priority Banking clients of the Bank within the past 12 months and/or do not hold existing Current and/or Savings Account and/or Term Deposit accounts with the Bank in its Personal Banking, Priority Banking or Private Banking segments.
• To be eligible for the cashback (hereinafter “the Reward”) the client must successfully sign up for Priority Banking account and maintain an AUM balance as detailed below. Minimum AUM requirement for Priority Banking is AED 370,000 (or foreign currency equivalent).
• Eligible clients will be given up to 2 months from the month of account opening (“Qualification Date”, mentioned below) to fund the balance and qualify for the campaign.
• The client must maintain the eligibility AUM threshold until the “Payout Month” mentioned below in order to get the Cashback Reward.

• Cashback Rewards for New clients whose spouse, sibling, parent or child is an existing client will be capped at a maximum of AED 1,000.
• Internal transfer of funds from spouse, siblings, parents or children’s accounts into client’s new Priority banking account will be excluded from AUM calculations.
• Minor / Guardianship accounts are excluded from the campaign.
• Clients will be intimated by the Priority Relationship Managers upon qualification. The bank will credit the cashback into the client’s Priority account.
• The Bank reserves the right to terminate the promotion 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.
• All other Standard Chartered Bank Terms and Conditions, including Priority Banking Terms & Conditions apply. Please visit https://www.sc.com/ae/priority/terms-conditions/ for full terms and conditions.
• For Additional Cashback Rewards, please refer to Priority Cashback Campaign https://www.sc.com/ae/promotions/priority-cashback/ or contact your Relationship Manager.