Unlimited$aver
Earn up to 1.5% Bonus Cashback with Unlimited$aver
How it Works
Unlimited$aver is a savings account linked to your Simply Cash Credit Card, allowing you to enjoy up to 3% cashback when you deposit funds in your Unlimited$aver account.
Here’s how:
BALANCE IN UNLIMITED$AVER
| 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% |
^ Bonus Cashback is capped at S$100 per month. Depending on the total Eligible Spends on your Simply Cash Credit Card in the Month, the total cashback earned may be less than 3% of your total Eligible Spends for the Month due to the cap of S$100 on Bonus Cashback per Month.
SERVICE
| CHARGES
|
|---|---|
| Minimum initial deposit | S$0 |
| Fall-below fee | S$5 per month if average daily balance for the month falls below S$3,000 |
| Monthly service charge | S$0 |
| Early account closure fee (within 6 months) | S$0 |
Eligibility
Documents Required
- NRIC (front and back)
- Passport
- Employment Pass
- Any of the following documents:
- Utility bill within the last 3 months
- Bank statement within the last 3 months
- Letter from the human resource department of current employer stating address
- Government-issued documents stating address (e.g. IRAS, CPF, ICA)
- Telecommunications bill within the last 3 months
- Tenancy agreement
FAQs
- You would need to apply for an Unlimited$aver account and deposit the minimum Qualifying Balance as per what we have indicated in the table above.
- To earn additional cashback, you must be the principal cardholder of an Simply Cash Credit Card (which must be linked to your Unlimited$aver account of which you are the primary account holder).
- “Qualifying Balance” is defined as the average daily balance for the calendar month preceding the statement month of your Simply Cash credit card. For the month in which the Unlimited$aver account is opened, the Bank may consider the higher of the month end balance and average daily balance for that month as the Qualifying Balance.
- Note that total cashback earned may not be 3% if bonus cashback exceeds the S$100 monthly cap.
- If your account is successfully opened, you will receive an account opening letter / e-advice informing you of the account number for your new Unlimited$aver account.
- You can transfer funds into your new Unlimited$aver account to meet the minimum Qualifying Balance criteria for your Unlimited$aver account
- If you have met the minimum Qualifying Balance and all the requirements as per our Unlimited$aver Product Terms , you would be eligible to earn bonus cashback on eligible spend on your Simply Cash Credit Card.
As an example:
- Arya opened an Unlimited$aver account on 15th May 2020
- She deposited $100,000 in the account and continued to maintain min. $100,000 throughout June 2020.
- In this case, her Qualifying Balance for May 2020 is $100,000
- Arya’s eligible spend in her Simply Cash card statement for June 2020 will be eligible for bonus cashback.
- Her June statement is dated 22nd June 2020. Therefore, her eligible spend for the period 23rd May to 22nd June 2020 will be eligible for bonus cashback.
- This bonus cashback will be reflected in Arya’s July statement dated 22nd July 2020.
- She may see one or more cashback credits, the sum of which will reflect the total cashback that she earns on her June statement eligible spend including the bonus cashback.
Click here for more FAQs.
Click here for the full Standard Chartered Simply Cash Credit Card Terms and Conditions that apply.
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.