Note: e$aver Bonus Interest (1 November 2014 to 31 January 2015) Promotion has now been extended to 31 March 2015! Please see revised terms and conditions below.



e$aver Bonus Interest (1 November 2014 to 31 March 2015) Promotion Terms and Conditions

Eligibility

  1. This e$aver Bonus Interest (1 November 2014 to 31 March 2015) Promotion ("Promotion") is available from 1 November 2014 to 31 March 2015 (both dates inclusive) ("Promotion Period") and is open to new and existing e$aver, e$averKids! and World Partner Savings accounts (collectively, “Qualifying Accounts”) with Standard Chartered Bank (Singapore) Limited (the “Bank”).

Prevailing and Bonus Interest Rates

  1. Under the Promotion, in addition to the prevailing interest ("Prevailing Interest") earned on your entire deposit balance in the Qualifying Accounts ("Deposit Balance") at prevailing interest rates ("Prevailing Interest Rate"), you may earn bonus interest ("Bonus Interest") on your eligible Incremental Balance (as defined below) at the bonus interest rate ("Bonus Interest Rate") set out below subject to these terms.

  2. For the purposes of this Promotion, the Prevailing Interest Rate and the Bonus Interest Rate that you can earn on your Deposit Balance and eligible Incremental Balance (as defined below) respectively are as follows:

    Deposit Balance Tier Prevailing Interest Rate on Deposit Balance Bonus Interest Rate on eligible Incremental Balance Total Interest Rate on eligible Incremental Balance
    <S$50,000 0.10% p.a. 1.10% p.a. 1.20% p.a.
    S$50,000 to <S$200,000 0.15% p.a. 1.25% p.a.
    ≥S$200,000 0.25% p.a. 1.35% p.a.
  3. The average daily balance ("ADB") in the Qualifying Account is used to determine the Bonus Interest earned on your Incremental Balance. ADB is computed by dividing the sum of the end-of-day balances in a Qualifying Account for each day in that month by the number of days in that month.

For Existing Qualifying Accounts

  1. To be eligible to earn the Bonus Interest, you must deposit fresh funds into your existing Qualifying Account during the Promotion Period. For the purpose of this Promotion, "fresh funds" means funds that do not originate from any existing account with the Bank or funds that are not withdrawn and re-deposited within 30 days of the Promotion Period.

  2. If the ADB in the Qualifying Account for any calendar month during the Promotion Period:
    1. is higher than the ADB for October 2014 ("Comparison Month"), you will earn Bonus Interest on the difference between the ADBs for those 2 months ("Incremental Balance"); and
    2. is either equal to or lower than the ADB for the Comparison Month, you will not earn any Bonus Interest.

    You will continue to earn Prevailing Interest on the Deposit Balance in your existing Qualifying Account in the above-mentioned scenarios. For the avoidance of doubt, any deposit, withdrawal or otherwise transaction in relation to your Qualifying Account, that takes place on the last day of a calendar month, falling on either a Sunday or a Public Holiday, will not be taken into consideration for the purpose of ADB computation and/or calculation.

  3. Incremental Balance eligible for Bonus Interest is subject to a cap of S$1,000,000 per existing Qualifying Account for the Promotion Period.

  4. After the Promotion Period, you will cease to earn Bonus Interest but you will continue to earn Prevailing Interest on the Deposit Balance in your existing Qualifying Account.

  5. Illustration Existing Qualifying Account with Incremental Balance

    Month ADB for calendar month during the Promotion Period ADB for Comparison Month (October 2014) Incremental Balance (up to cap of S$1,000,000) eligible for Bonus Interest Prevailing Interest earned on Deposit Balance* Bonus Interest earned on eligible Incremental Balance Total interest earned
    November 2014 S$150,000 S$50,000 S$100,000 S$150,000 x 0.15% x 30/365 = S$18.49 S$100,000 x 1.10% x 30 /365 = S$90.41 S$108.90
    December 2014 S$2,000,000 S$50,000 S$1,000,000 S$2,000,000 x 0.25% x 31/365 = S$424.66 S$1,000,000 x 1.10% x 31/365 = S$934.25 S$1,358.91
    January 2015 S$900,000 S$50,000 S$850,000 S$900,000 x 0.25% x 31/365 = S$191.10 S$850,000 x 1.10% x 31/365 = S$794.11 S$985.21
    February 2015 S$150,000 S$50,000 S$100,000 S$150,000 x 0.15% x 28/365 = S$17.26 S$100,000 x 1.10% x 28 /365 = S$84.38 S$101.64
    March 2015 S$900,000 S$50,000 S$850,000 S$900,000 x 0.25% x 31/365 = S$191.10 S$850,000 x 1.10% x 31/365 = S$794.11 S$985.21

    * Prevailing Interest is calculated based on the Deposit Balance at the end of each day. The illustration assumes that the end-of-day Deposit Balance for each day in that month is the same.

For Newly Opened Qualifying Accounts

  1. If you open and deposit funds into a new Qualifying Account during the Promotion Period, you will earn: (i) the Prevailing Interest on the Deposit Balance; and (ii) the Bonus Interest on the Incremental Balance (which in the case of a new Qualifying Account, is the ADB in the new Qualifying Account). Your deposit into the new Qualifying Account must be made by way of fresh funds as defined in Clause 5 above.

  2. Incremental Balance eligible for Bonus Interest is subject to a cap of S$1,000,000 per new Qualifying Account for the Promotion Period.

  3. After the Promotion Period, you will cease to earn Bonus Interest but you will continue to earn Prevailing Interest on the Deposit Balance in the new Qualifying Account.

  4. Illustration - Newly opened Qualifying Account (opened on 1 November 2014)

    Month ADB for calendar month during the Promotion Period ADB for Comparison Month (October 2014) Prevailing Interest earned on Deposit Balance* Bonus Interest earned on eligible Incremental Balance Total interest earned
    November 2014 S$150,000 Not Applicable S$150,000 x 0.15% x 30/365 = S$18.49 S$150,000 x 1.10% x 30/365 = S$135.62 S$ 154.11
    December 2014 S$2,000,000 S$2,000,000 x 0.25% x 31/365 = S$424.66 S$1,000,000 x 1.10% x 31/365 = S$934.25 S$1,358.91
    January 2015 S$900,000 S$900,000 x 0.25% x 31/365 = S$ 191.10 S$900,000 x 1.10% x 31/365 = S$840.82 S$ 1,031.92
    February 2015 S$900,000 S$900,000 x 0.25% x 28/365 = S$172.60 S$900,000 x 1.10% x 28/365 = S$759.45 S$932.05
    March 2015 S$900,000 S$900,000 x 0.25% x 31/365 = S$191.10 S$900,000 x 1.10% x 31/365 = S$840.82 S$1,031.92

    * Prevailing Interest is calculated based on the Deposit Balance at the end of each day. The illustration assumes that the end-of-day Deposit Balance for each day in that month is the same.

General

  1. Bonus Interest will be calculated at the end of the calendar month and credited by the 7th working day of the next calendar month, unless otherwise notified to you from time to time.

  2. The Bank reserves the right to revise these terms and all applicable interest rates and to extend, shorten or withdraw this Promotion at any time without prior notice or reason.

  3. The Bank’s decision in all matters arising out of or in connection with this Promotion shall be final, binding and conclusive.

  4. These e$aver Bonus Interest (1 November 2014 to 31 March 2015) Promotion Terms and Conditions are to be read in conjunction with the Bank’s Customer Terms, Current/Cheque/Savings Account and Time Deposit Terms, the e$aver Account Product Terms and the e$aver Kids! Account Product Terms (collectively "Other Terms"). If there is any inconsistency between these terms and the Other Terms, these terms will prevail only to the extent of such inconsistency.

Deposit Insurance Scheme
Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.

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Standard Chartered Bank (the “Bank”) is committed to maintaining a culture of the highest ethics and integrity, and in compliance with all applicable law, regulation and internal policy. As part of this commitment, the Bank has a ‘Speaking Up’ programme through which genuine concerns in this regard can be raised. Members of the public can securely raise Speaking Up concerns through this hyperlink, which is hosted on behalf of the Bank by a third party ‘InTouch’. Examples of concerns that can be raised through this website are concerns that relate to accounting, internal accounting controls or auditing matters and concerns relating to bribery or banking and financial crime. Concerns received will be forwarded to the Bank’s investigations team for review. Complaints relating to SCB banking services should not be raised through this site in the first instance, but through the SCB branch network, contact centres, Relationship Managers or the ‘Contact Us’ webpage.

Disclaimer

Please note that this hyperlink will bring to you to another website on the Internet, which is operated by InTouch, an independent company appointed by the Bank to support its Speaking Up programme. Please be mindful that when you click on the link and open a new window in your browser, you will be subject to the additional terms of use of the website that you are going to visit.

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