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Revision of Unlimited$aver Product Terms and Current and Savings Accounts Prevailing Interest Rates

With effect from 1 August 2020 (inclusive of this date), please note that there will be an update to the Unlimited$aver Product Terms and a revision in the prevailing interest rates for certain Current and Savings Accounts.

Updates to Unlimited$aver

The Unlimited$aver Product Terms (“Terms”) will be updated to reflect changes in the prevailing interest rate for the Unlimited$aver account, the cap for the Bonus Cashback (as defined in the Terms) and the cashback percentage that you may receive.

From 1 August 2020 (inclusive of this date), the prevailing interest on your Unlimited$aver account balances will be revised to 0.00% p.a., and the Bonus Cashback percentage will also be revised. Please refer to the table below for a summary of changes:

Qualifying Balance in Unlimited$aver account Unlimited Cashback

(A)

Bonus Cashback

(B)

Total Cashback

(A + B)

Less than S$100,000 1.5% 1.5%
S$100,000 or more 1.5% Up to 1.5% ^ Up to 3% ^

^ For all statements dated on or after 1 September 2020 for Standard Chartered Unlimited Cashback Credit Card (“Unlimited Card”), the Bonus Cashback will be capped at S$100 each month. For all statements dated 1 August 2020 to 31 August 2020 for the Unlimited Card, your Bonus Cashback will still remain capped at S$300.

You will continue to enjoy 1.5% Unlimited Cashback on eligible spends on your Unlimited Card without any cap on the Unlimited Cashback (as defined in the Unlimited Card Terms).

Please refer to Clause 2.1, Clause 3.1 and Clause 4.2 in the updated Terms for the relevant changes. If you wish to obtain a copy of the new Terms, please visit sc.com/sg/unlimitedsaver-tnc from 1 August 2020 (inclusive of this date).

Updates to Current and Savings Accounts

The prevailing interest rates for the following Current and Savings Accounts will be revised as follows:

Singapore Dollar Accounts

Product (SGD) Balance Prevailing Interest Rate (P.A.) New Prevailing Interest Rate

Effective 1 August 2020 (inclusive)

e$aver Less than S$50,000 0.10% 0.05%
Between S$50,000 to S$200,000 0.15% 0.10%
More than S$200,000 0.25% 0.15%
MyWay Savings Account First S$50,000 0.15% 0.10%
Next S$950,000 0.60% 0.25%
Next S$4,000,000 1.00% 0.50%
Any balance above S$5,000,000 0.15% 0.10%
Unlimited$aver All balances 0.10% 0.00%

 Foreign currency – US Dollar Accounts

Product (USD) Balance Prevailing Interest Rate (P.A.) New Prevailing Interest Rate

Effective 1 August 2020 (inclusive)

USD High

FCY$aver

Statement Savings

Bonus$aver USD

Less than USD 200,000 0.03% 0.00%
USD 200,000 to less than USD 1,000,000 0.05%
USD 1,000,000 and above 0.10% 0.05%
Cheque and Save

Securities Settlement Account

Wealth Lending Settlement Account

Less than USD 50,000 0.00% 0.00%
USD 50,000 to less than USD 1,000,000 0.05%
USD 1,000,000 and above 0.05%

The above changes will be reflected in the respective Product Terms which will be available here from 1 August 2020 (inclusive of this date).

Deposit Insurance Scheme

Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.