Start a Priority Banking relationship and receive a cashback up to USD 7,000*

Priority Banking features

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Whatever your financial priorities and investing style, our dedicated Relationship Managers and Wealth specialists are here to bring you tailored solutions that will meet your financial goals.

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We recognise and reward your total relationship with us through privileged access, preferential pricing and fee waivers on everyday banking services and invitations to our exclusive events.

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With our footprint across Asia, Africa and the Middle East, we not only make it easy but also help you make the most of your global opportunities.

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Your Global connectivity is as important as your global access to funds. Whether you are travelling overseas, settling in new country or investing abroad, we are able to provide comprehensive solutions to meet your financial needs, onshore and offshore.

Cashback offer

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

Campaign criteria
Client Action Criterion Average Account Balance Minimum Investment 1ST
CASHBACK
2ND
CASHBACK
TOTAL CASHBACK
Open and fund Priority account Open your account and maintain the funds with us 100,000 to 200,000 N/A 400               400                   800
200,000 to 500,000           1,100               1,500
500,000 to 1,000,000           2,600               3,000
1,000,000 and above           5,600               6,000
(And)
Purchase an Investment /  Insurance product
(And) Purchase a qualifying Investment / Insurance product (MF/SN/FI/WAP) anytime during the campaign period 100,000 to 200,000 100,000 400               600               1,000
200,000 to 500,000 100,000           1,600               2,000
500,000 to 1,000,000 200,000           3,100               3,500
1,000,000 and above 200,000           6,600               7,000
Campaign Timelines
Priority A/c opening date 1st Cashback

Qualification Period

(Fund the Eligible Account by)

1st Cashback Payout 2nd Cashback

Qualification Period

(Hold the funds for)

2nd Cashback Payout
1-31 Dec 2023 31-Jan-24 28-Feb-24 1 Feb 2024 to 30 Apr 2024 31-May-24
1-31 Jan 2024 28-Feb-24 31-Mar-24 1 Mar 2024 to 31 May 2024 30-Jun-24
1-28 Feb 2024 31-Mar-24 30-Apr-24 1 Apr 2024 to 30 Jun 2024 31-Jul-24
1-31 Mar 2024 30-Apr-24 31-May-24 1 May 2024 to 31 Jul 2024 31-Aug-24

Important notes:

  • All figures mentioned above are in USD
  • Offer only applicable to New to Bank clients placing New Funds in Current and / or Savings accounts, Term Deposits are excluded
  • Investment can happen anytime till 31 March 2024 but should meet individual thresholds for the different tiers to qualify for higher cashback
  • An individual client can receive a maximum cashback of $7000
  • Cashback payouts and qualification period requirements will be as per the Timelines table above.

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 New-to-Bank 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 3.3

2. Terms of the Campaign

2.1 Term: The Campaign will commence from 1 December 2023 until 31 March 2024 (both dates inclusive) (the “Campaign Period”).

2.2 Eligibility: All New-to-Bank Clients of the Bank who place New Funds in an Eligible Account with the Bank’s Priority Banking segment as per section 3 below, are eligible to participate in the Campaign. New-to-Bank 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 New-to-Bank Clients who meet the minimum eligibility criteria set out below are eligible for the maximum cashback based on the below tiers:

Campaign criteria

Client Action Criterion Average Account Balance

(USD)

Minimum Investment (USD) 1ST
CASHBACK (USD)
2ND
CASHBACK
(USD)
TOTAL CASHBACK

(USD)

Open and fund Eligible Account with the Bank’s Priority Banking Segment Open an Eligible Account and maintain the Funds with the Bank 100,000 to 200,000 N/A 400               400                   800
200,000 to 500,000           1,100               1,500
500,000 to 1,000,000           2,600               3,000
1,000,000 and above           5,600               6,000
(And)
Purchase an Investment /  Insurance product
(And) Purchase a qualifying Investment / Insurance product (MF/SN/FI/WAP) anytime during the campaign period 100,000 to 200,000 100,000 400               600               1,000
200,000 to 500,000 100,000           1,600               2,000
500,000 to 1,000,000 200,000           3,100               3,500
1,000,000 and above 200,000           6,600               7,000

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

Campaign Timelines

Priority A/c opening date 1st Cashback

Qualification Period

(Fund the Eligible Account by)

1st Cashback Payout 2nd Cashback

Qualification Period

(Hold the funds for)

2nd Cashback Payout
1-31 Dec 2023 31-Jan-24 28-Feb-24 1 Feb 2024 to 30 Apr 2024 31-May-24
1-31 Jan 2024 28-Feb-24 31-Mar-24 1 Mar 2024 to 31 May 2024 30-Jun-24
1-28 Feb 2024 31-Mar-24 30-Apr-24 1 Apr 2024 to 30 Jun 2024 31-Jul-24
1-31 Mar 2024 30-Apr-24 31-May-24 1 May 2024 to 31 Jul 2024 31-Aug-24

3.3 Clients who fund their Eligible Account with the prescribed average account balance within the applicable 1st Cashback Qualification Period will be eligible for the 1st Cashback as defined in the Campaign criteria table in 3.1 above.

3.4 The “Qualification Period” for the 2nd Cashback is defined as 3 calendar months, during which the average monthly account balance across the 3 months will be used to establish the New Funds held and the corresponding pay-out as per the table in 3.1 above.

3.5 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.

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

3.7 The Bank shall not pay late payment charges or additional profit for any delay in crediting the cashback amount to the client.
3.8 The Bank shall not be liable for any delay in crediting the cashback amount if such delay is because the client cannot be contacted.

3.9 Minor / Guardianship accounts are excluded from the Campaign.

3.10 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.

3.11 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.

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