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Summary of Changes to the Investment Products Terms (“IPT”)

We will be amending our IPT to include, inter alia, the following changes:

  1. With effect from 01 October 2019:
  2. Central Securities Depositories Regulation (CSDR): The Bank will, in its capacity as a custodian and direct participant of such Central Securities Depository within the European Economic Area, offer our customers the option of custodising applicable securities in an individual client segregation account in accordance with the CSDR. The opening of such account is subject to costs.

  3. With effect from 01 October 2019:
    1. Wealth Lending
      1. The Bank has included new base lending rates such as the Bank Bill Swap Rate (BBSW) and the Hong Kong Interbank Offered Rate (HIBOR).
      2. If the SIBOR/LIBOR/BBSW/HIBOR or such relevant base lending rate is less than zero, the base lending rate shall be deemed to be zero.
      3. The rate (including any base lending rate or other reference rate), the loan or overdraft margin as well as basis of calculation of interest payable shall be subject to the Bank’s determination and revision at its discretion.
      4. The Bank shall be entitled to rely on the records of any government registry or government statutory authority or other addresses obtained from reliable sources to serve a demand for payment of monies on our customers.
    2. FX

      The Bank has clarified the arrangements for Spot Commodity (Spot Gold or Spot Silver) transactions.

    3. Funds

      The Bank has clarified the Regular Savings Plans (RSP) arrangements for accounts which are not held under the CPF Investment Scheme and Supplementary Retirement Scheme.

  4. Please visit https://av.sc.com/sg/content/docs/sg-invest-product-terms.pdf for the full version of the updated Investment Products Terms. Should you require any further information or assistance, please do not hesitate to contact your relationship manager, or visit any of our branches. For information on the locations and opening hours of our branches, please visit https://www.sc.com/sg/atm-branch-locator.

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