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Bonus Campaign Terms and Conditions (Staff)

Term Deposits / Saadiq Murabaha Term Deposit

 

  1. These rates are for deposits less than AED 3.6 million. If you plan to deposit more and take advantage of a better rate, please speak with your Relationship Managers or visit any of our branches;
  1. Rates are subject to change based on market rate at booking date;
  2. Rates are not applicable to Saadiq Term Account. To enjoy these rates, visit any of our branches to open a Saadiq Murabaha Term Deposits;
  3. Visit any of our branches to apply for 18-month or 24-month Term Deposit;
  4. Minimum Deposit Amount is AED 25,000;
  5. Rates are applicable for fresh funds only. Fresh Funds means funds deposited in the last 30 days of Fixed Deposit Booking;
  6. Joint account holders will have to visit any of our branches to open a Term Deposit;
  7. On early withdrawal, the interest payable will be paid at the Original Fixed Deposit Rate (i.e. the rate labelled “Interest Rate % p.a." on your Fixed Deposit confirmation) minus 2% p.a. If the interest rate payable is equal to or less than 0% after the 2% has been subtracted, then no interest will be paid and only the principal will be returned. This is only applicable to Conventional Term Deposits. For Saadiq Murabaha Term Deposit, please refer to the Client’s Term that can be found on sc.com/ae; and
  8. For detailed terms and conditions on Term Deposit, please visit com/ae/save/fixed-deposit.html

 

XtraSaver

  1. The offer is available to all existing and new customers of the Bank opening an XtraSaver Account for the first time;
  2. The campaign is valid until 31 Mar 2018;
  3. Customers who already have an XtraSaver Account or have closed their XtraSaver Account on or after 31 March 2017 are excluded from this offer;
  4. Customers will have to fund the account with a minimum of AED 100,000 in each of the first two months of account opening to be eligible for the bonus payout of 1% p.a. in that month;
  5. The bonus payment will be made to the respective accounts by the 15th of the following month
  6. In case there are more than one debit transactions on the account in month 1 or month 2 of account opening, no bonus interest will be paid out; and
  7. For detailed terms and conditions on XtraSaver, please visit com/ae/save/xtra-saver/

 

Life Insurance

  1. My Life Protect and My Future Saver:
    1. Eligibility to this offer is subject to customers meeting minimum monthly premium of $750; and
    2. The Bank will credit the 2nd & 3rd month premium into the eligible customer’s bank account as per the due date.
  2. International Term Assurance:
    1. Eligibility to this offer is subject to customers meeting minimum monthly premium of $200 or annual premium of $ 2,400;
    2. The Bank will credit the 2nd & 3rd month premium into the eligible customer’s bank account as per the due date;
    3. For the policies where the payment frequency is annual, the bank will credit an amount equivalent to 2nd and 3rd month’s premium to the eligible customer’s account. Ex: For an annual premium of $ 2400, 2nd and 3rd month’s equivalent premium of $ 400 will be credited; and
    4. Additional 15% discount on the illustrated premium will be given;
  3. Wealth Accumulation Plan is excluded from this campaign.
  4. If the Policy is surrendered prior to completion of the Policy Term, there could be a Surrender Fee applicable.

(Disclaimer)

Standard Chartered Bank does not offer insurance advice, nor does it underwrite or issue insurance policies. Insurance products are underwritten by third party insurance providers. Standard Chartered Bank shall not be responsible for insurance provider's actions or decisions, nor shall Standard Chartered Bank be liable regarding payment of claims or services under the policy/insurance contract.

 

Investment

  1. Investment Products mentioned above such as Mutual Funds and Fixed Income are subject to individual risk profile and product suitability;
  2. Past performance is not indicative of future results and no representation or warranty is made regarding future performance; and
  3. Your investment in the Selected Funds will be subject to annual recurring fees, including fund management and administrative fees, charged by the fund manager. Please refer to the respective fund Factsheet(s) and Prospectus(es) for all such fees and further details.

  

Foreign Exchange (FX)

  1. The preferential exchange rate is only applicable for remittances done through Standard Chartered Bank branches and is subject to minimum transfer amount of AED 10,000;
  2. If anytime during the campaign period the minimum remittance amount falls below AED 10,000 you will be directed to use the online banking facility or send your application to the branch at the bank’s prevailing rate;
  3. All Foreign Exchange rates quoted to clients are indicative as per current Foreign Exchange market movements. Booked deal needs to be utilised on the value date, failing which the Bank reserves the right to cancel the deal and debit the exchange loss (if any) from the client’s account;
  4. Any beneficiary charges still apply for outward remittances; and
  5. Any FX remittances above AED 100,000 must be booked through our FX Desk.

 

MortgageOne/SaadiqOne

  1. Approval of Home Finance is at the sole discretion of Standard Chartered Bank. This product is available for UAE residents only. In the event you become a non-resident you are required to inform the Bank of the change in your residency status. During the tenure of the finance, you may choose to convert your MortgageOne/SaadiqOne account to a regular Home Finance and conversion fee will be charged by the Bank;
  2. Pricing after 12 months is SCBLR/SCBMR + 2% for accounts with No Life Insurance/Takaful Assignment;
  3. An offset cap is applicable on the finance amount based on client’s selection. The following offset cap ranges are available: up to 25%; from 25.01% to 50%; and from 50.01% to 75%. The caps are determined by the Bank and are subject to change. An offset fee applicable to each cap range will be charged by the Bank annually until the full tenure of the loan;
  4. In case the client chooses 25% cap, the Bank will waive the offset fee (0.25% of the outstanding finance amount) for the first year as a promotional offer for accounts opened before 31 March 2018. If client chooses either 50% or 75% cap, applicable first year offset fee will be charged; and
  5. Conversion fee is waived for all conversion requests submitted on or before 31 Mar 2018.

For fees and charges applicable to all products, please refer to the Service and Price Guide on sc.com/ae.