Now’s the time to act on insight, not hindsight

The following terms and conditions shall apply in relation to the cashback campaign (the “Campaign”)

1.Definitions

The following terms shall have the following meanings:

“Account Balance” means the calculation of the sum of balances of all Eligible Accounts, in USD or other currencies.

“Bank” means Standard Chartered Bank, Bahrain Branch.

“Eligible Accounts” means any new funds deposited into a new current and/or savings accounts, including Saadiq variants.

“Funds” means the average monthly Account Balance held by the Clients for 3 calendar months, following the month in which the Eligible Account was opened.

“New Funds” means, in respect of New to Bank clients, the new funds placed in Eligible Accounts.

“New-to-Bank Clients” mean clients who have not been Priority Banking clients of the Bank within the last 12 months and do not hold existing current and/or savings accounts and/or term deposits with the Bank in its Personal Banking or Priority Banking Segments. New-to-Bank Clients will include those clients who have opened an Eligible Account and deposited New Funds into the Eligible Account during the Campaign Period.

“Qualification Period” shall have the meaning provided in Clause 3.2

2. Terms of the Campaign

2.1 Term: The Campaign will commence from 15 April 2025 until 31 July 2025 (both dates inclusive) (the “Campaign Period”).

2.2 Eligibility: All existing Priority Clients of the Bank who place New Funds in the account as per section 2 below, are eligible to participate in the Campaign. Existing Clients who also make a purchase of a qualifying investment / insurance product are eligible for a higher cashback as outlined in the Campaign Criteria. Investment / Insurance products which qualify for the higher cashback are mutual funds (MF), fixed income securities (FI), structured notes (SN) and single premium investment plan (WAP).

3. Cashback:

3.1 All existing priority clients who meet the minimum eligibility criteria set out in the above table are eligible for the maximum cashback based on the abovementioned tiers:

3.2 Cashback pay-outs shall be as per the following schedule:

3.3 Clients who fund their Eligible Account with the prescribed average account balance within the applicable campaign timelines will be eligible for the Cashback as defined in the table in 3.1 above.

3.4 The Bank will credit the cashback amount into the client’s current / savings account upon completion of the Qualification Period. Clients will be required to have an open and active current / savings account to receive the cashback.

3.5 The cashback amount is non-transferable and cannot be paid, remitted, or deposited to a person or account other than the client.

3.6 The Bank shall not pay late payment charges or additional profit for any delay in crediting the cashback amount to the client.

3.7 The Bank shall not be liable for any delay in crediting the cashback amount if such delay is because the client cannot be contacted.

3.8 Minor / Guardianship accounts are excluded from the Campaign.

3.9 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.

3.10 Setup of multiple family accounts will not be eligible under the Campaign and will be excluded from New Funds calculations.

4. Other Terms

4.1 The Bank reserves the right to disqualify any client from the cashback 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.

4.2 All taxes, fees and other charges, if any, payable on the cashback shall be the sole responsibility and liability of the client.

4.3 This offer is not valid in conjunction with any other special promotion or other reward periodical campaigns organized for Priority Banking accounts.

4.4 The  Bank reserves the right to vary, add or delete any of the terms and conditions applicable to this offer at any time with 15 days prior notice.

4.5 These terms and conditions are subject to the laws of the Kingdom of Bahrain. The Courts of the Kingdom of Bahrain shall have jurisdiction to settle any disputes arising therefrom.