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MyWay Programme. For the lifestyle you have always wanted

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MyWay Programme. For the lifestyle you have always wanted

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      *SingPass holders with a MyInfo profile can use MyInfo to automatically fill up the form. By clicking “Next”, you will be re-directed to the MyInfo portal, which is not owned or controlled by Standard Chartered Bank (Singapore) Limited or any member of the Standard Chartered Group (the “Bank”). The Bank bears no liability or responsibility over your usage of the MyInfo portal.

    Apply via Online Banking for instant account opening!*

    To open a new account via Online Banking, you would need to have an existing savings or cheque account under your own personal name. The new account will be opened under your individual name.

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MyWay, your holistic banking solution.

The lifestyle programme for 55 years and above to enjoy a world of exclusive dining, travel and healthcare privileges. Enjoy interest rates of up to 1.28%p.a.1 with the MyWay Savings Account, access to income generating wealth solutions and enjoy privileges at selected merchants on travel and health.

Our Key Proposition

MyWay Calculator

Calculate your interest with MyWay Saving Account

Maximising your savings is now easy with the new MyWay Savings Account. Earn up to 1.28%^ p.a. interest all year round with the MyWay Savings Account. It’s extremely simple with no lock-in, no minimum spend and no salary crediting. Plus, enjoy the flexibility of accessing your funds at any time.

Total Interest earned (yearly)1280
Effective interest rate (EIR)1.28

Key Charges

SERVICE
CHARGES
Fall‐below fee ﴾per month﴿ S$10

Note: Fall‐below fee of S$10 per month is chargeable if the minimum average daily balance falls below S$50,000 in any particular month.

Monthly service charge S$0
Debit card annual fee S$0

Eligibility & Documents

ELIGIBILITY

  • Nationality: Singapore citizen / Singapore permanent resident / foreigner
  • Age requirement: at least 55 years old
  • Employment Pass Holders:
    • Foreigners must be holders of P1, P2 or Q type Singapore Employment Passes.
    • Q Pass holders must have a minimum of one year validity remaining on their passes.

DOCUMENTS

  • Mandatory supporting documents for Singapore and permanent residents.
    • NRIC ﴾front and back﴿
  • Mandatory supporting documents for foreigners:

     

    • Passport
    • Employment Pass
    • Any of the following documents:
      • Utility bill within the last 3 months
      • Letter from the human resource department of current employer stating address, Bank statement within the last 3 months
      • Government‐issued documents stating address ﴾g IRAS, SPF, ICA﴿
      • Telecommunications bill within the last 3 months
      • Tenancy agreement

How it works?

Maximising your savings is now easy with the new MyWay Savings Account.
Earn up to 1.28% p.a.1 interest all year round with the MyWay Savings Account. It’s extremely simple with no lock-in, no minimum spend and no salary crediting. Plus, enjoy the flexibility of accessing your funds at any time.


Balance in your MyWay Savings Account
Prevailing Interest Rate
First S$50,000 0.18% p.a.
Next S$950,000 1.08% p.a.
Any incremental balances above S$1,000,000 to S$5,000,000 1.28% p.a.


For incremental balances above S$5,000,000 on the MyWay Savings Account, you can earn 0.18% p.a. interest.


1The maximum effective interest rate (EIR) on the MyWay Savings Account is 1.23% p.a. for deposits of S$5,000,000.

Note: If the average daily balance of the MyWay Savings Account falls below S$50,000 for any particular month, you must pay a fall-below fee of S$10 per month.

Privileges

With the MyWay Savings Account, you can enjoy exclusive benefits with the simplicity of using the MyWay debit card. Present your MyWay debit card to enjoy:

Healthcare Privileges

Travel and Dining Privileges

Lifestyle Privileges


Also enjoy privileged access over 3,000 merchants worldwide with The Good Life at sc.com/sg/thegoodlife
Please refer to the Parkway Medical Privileges T&Cs, the MyWay Privileges T&Cs and the Merchant T&Cs below

FAQs

Terms and Conditions

Important Disclaimer

Investment Products:

This document does not constitute an offer, recommendation or solicitation of an offer to enter into a transaction or adopt any hedging, trading or investment strategy. It has not been prepared for any particular person or class of persons and does not constitute and should not be construed as investment advice nor an investment recommendation. It has been prepared without regards to the specific investment objectives, financial situation or particular needs of any person. You should seek advice from a financial adviser on the suitability of an investment for you, taking into account these factors before making a commitment to invest in an investment. Investment products are not deposits and each of the investment products mentioned does not qualify as an insured deposit under the Singapore Deposit Insurance and Policy Owners’ Protection Schemes Act 2011.

 

Insurance Products:

All insurance policies are underwritten by the respective insurer and not Standard Chartered Bank (Singapore) Limited (“the Bank”). This document describes insurance products and services provided by respective insurers in alliance with the Bank. This document does not constitute an offer, recommendation, solicitation to buy or sell any insurance product or service nor is it intended to provide insurance or financial advice. This document is not a contract of insurance and reference should be made to the policy for the exact terms and conditions applicable to the insurance policy, which will be sent to you upon the acceptance of your application by the insurer. All insurance products described in this document are products of and underwritten by the respective insurer and not the Bank. In facilitating insurance arrangements or in referring customers to the respective insurers, the Bank is acting in alliance with the insurers and not as an agent for customers. The Bank shall not be liable in any manner whatsoever regarding your application or the contract of insurance.

The Bank does not accept any responsibility regarding any statement made in, omission or inclusion of any provisions of, the contract of insurance nor shall the Bank be held liable in any manner whatsoever in respect of your application or the contract of insurance.

Buying an insurance policy is a long-term commitment. An early termination of the policy usually involves high cost and the surrender value payable may be less than the total premiums paid.

 

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.