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Revision on Wealth $aver Account effective 1 August 2024

 

With effect from 1 August 2024 (inclusive), please note that there will be an update to the Wealth $aver Product Terms.

 

Please refer to the table below for a summary of changes.

ASSETS UNDER MANAGEMENT (AUM)
DEPOSITS + INVESTMENT + INSURANCE		INTEREST RATE (P.A.)
ON YOUR WEALTH $AVER ACCOUNT BALANCE

MAXIMUM DEPOSIT BALANCE

< S$200,0000.05%no cap
S$200,000 to < S$1.5 million1.50%*Up to S$500KS$1mil
≥ S$1.5 million2.50%*
+
Wealth Booster
Bonus interest with new purchase of Eligible Investment (min S$200K) / Insurance (min S$20K)		Up to 2.50%*Up to S$500KS$1mil

For clarity, you will only earn 0.05%p.a. on your Wealth $aver account balance if you are not a Priority Banking or Priority Private client. Note: it may take up to 7 working days to process your Priority Banking or Priority Private sign up request after fulfilling the eligibility criteria

 

Please refer to Clause 3.3 in the updated Terms for the relevant changes. If you wish to obtain a copy of the new Terms, go to www.sc.com/sg/wealth$aver

 

 

Deposit Insurance Scheme

Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$100,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.