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  1. Compare and Open a Bank Account Online
  2. Savings Accounts
  3. USD$aver Account

USD$aver Account

Earn up to

4.50% p.a. interest

on eligible deposit balance of USD $3 million

With

No Lock-in period

Enjoy the flexibility to access your funds at anytime

Earn

2% cashback

on all MasterCard transactions with USD High Debit Card

Note: We have revised the interest rates from 1 September 2024. Refer here for full details.

Why sign up for USD $aver high yield deposit account?

USD$aver account is a high interest savings account with no lock-in period, allowing access to your US dollar funds anytime, anywhere.

For a limited time only, you can get up to 4.50% p.a. interest with your USD$aver Account.

Benefits of opening a USD savings account in Singapore

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Limited time Top Up Promotion#

Earn 1% p.a. Bonus Interest on your fresh funds* deposit.

• Top up your account with minimum fresh funds of USD$200K by 31 Oct 2024

• Maintain at least USD$200K fresh funds in your account until 31 Dec 2024.

• Earn bonus interest on the incremental average balance for 3 months.

T&Cs apply

How our USD deposit account works

Base interest rate

Earn up to 3.50% p.a. interest all year round for account balances up to USD3,000,000 with USD$aver. No lock-in, no minimum spend and no salary crediting.

Limited time Top Up Promotion#

Earn additional 1.00% p.a. Bonus Interest on your fresh funds* deposit.

BALANCE IN YOUR USD$AVER ACCOUNT
PREVAILING INTEREST RATE^
TOP UP BONUS INTEREST#
First USD50,000 0.05% p.a.  + Additional 1.00% p.a. Bonus Interest for 3 months on your incremental fresh funds
Next USD150,000 1.00% p.a.
Next USD1,300,000 2.00% p.a.
Next USD1,500,000 3.50% p.a.

Important notes:

  • Account balances exceeding USD3,000,000 shall earn prevailing interest of 0.05% p.a.
  • ^The maximum effective interest rate (EIR) on the prevailing rate on your USD$aver account is 2.84% p.a. for deposit balance of USD3,000,000.
  • * “Fresh funds” means funds that do not originate from any existing account with the Bank or funds thatare not withdrawn and re-deposited within 30 days of the Promotion Period.
  • #1.00% p.a. bonus interest on the incremental average daily balance of each month during the Bonus Interest earning period as compared to 30 September 2024 balance (capped at USD3,000,000).

Service
Charges
Minimum initial deposit US$1
Fall-below fee US$10 per month if average daily balance for the month falls below US$10,000
Monthly service charge US$0
Unarranged overdraft Prime +5%, minimum US$5
Early account closure fee (within 6 months) US$20
Debit Card Annual Fee US$0

Refer here for all the relevant fees and charges

Eligibility

  • Nationality: Singapore citizen / Singapore permanent resident / foreigner
  • Age requirement: Minimum 18 years old

Documents Required

  • Mandatory supporting documents for Singapore citizens 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
    • 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

For details, please click here.

A USD savings account is a savings account that allows you to hold, transact, and deposit in US Dollars.

  • Frequent Travelers who travel frequently to the United States or other countries where the US Dollar is widely accepted.
  • Expats and Foreign Employees who earn income in US Dollars or need to send money back home in US Dollars.
  • Investors looking to diversify their currency holdings and hedge against currency fluctuations.
  • Businesses engaged in international trade that make/ receive transactions in US Dollars.
  • Parents/ Students who need to manage funds for tuition payments living expenses related to studying abroad in the US or other countries that use the US Dollar.

Yes. For Standard Chartered Singapore’s USD$aver account, Singaporean / PR eligible applicants must be 18 years and above.

Yes. For Standard Chartered Singapore’s USD$aver account, eligible non-Singaporean/Permanent Resident must hold valid employment passes and the applicants must be 18 years and above.

Yes. The USD$aver Account has a minimum average daily balance requirement of USD 10,000. If the average daily balance falls below the minimum amount for any particular month, there is a fall-below fee of USD10 per month.

Yes. You can open your USD$aver Account online conveniently through Standard Chartered’s website.

The USD$aver Account can be opened as a personal account OR a joint account.

The USD$aver Account is different from a fixed deposit as there is no lock-in period when it comes to the USD$aver account.

You can withdraw cash from your USD$aver Account at an ATM using your USD High debit card or at Standard Chartered Branches. Applicable fee may apply.

Yes. You can open a maximum of two (2) USD$aver accounts at any one time with Standard Chartered Singapore. However, each of your USD$aver accounts must have different account operating authority details.

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Standard Chartered Priority Banking

Start a Priority Banking with us to access a full suite of wealth solutions, seasoned advice from experience relationship managers coupled with curated market insights to achieve your financial goals

+Exclusions apply. Cashback cap at USD100. Please refer to USD$aver terms and conditions at the link above for more details. MasterCard transactions incurred with merchants based outside of Singapore are subject to a charge of 1% of the transaction as imposed by MasterCard International on the Bank