Earn 1.70% p.a. interest on your 7-month SGD Time Deposit today

From now till 31 May 2016, earn attractive returns1 when you deposit minimum fresh funds2 of S$25,000. What’s more, receive up to S$1,000 when you start a Priority Banking relationship with us today3.

Placement Tenor Promotional Rate Priority Banking Preferential Rate
S$25,000 – S$100,000 7-month 1.65% p.a. 1.70% p.a.

Promotion is available for the first 1,500 customers only, from 13 to 31 May 2016, unless otherwise extended or terminated in accordance with our terms,1The interest rate is only applicable if the Time Deposit is held until maturity of the tenor. 7-Month Singapore Dollar Time Deposit Promotion Terms and Conditions apply. 2Fresh funds refer to funds not originating from any existing account with Standard Chartered Bank (Singapore) Limited (“the Bank”) and funds that are not withdrawn or re-deposited within the last 30 days. 3Priority Banking Q2’16 Sign-Up Promotion is available 1 April to 30 June 2016 (“Promotion Period”). To qualify for the rewards mentioned, you need to (a) have at least one SGD Current/Cheque/Savings account with the Bank, (b) during the Promotion Period (i) start a Priority Banking relationship and (ii) place a minimum of S$200,000 (or foreign currency equivalent) of Fresh Funds in the form of Eligible Deposits and/or Eligible Investments, plus (c) maintain at least S$200,000 of assets under management for at least 6 months. When computing the value of Eligible Deposits, the Bank will take into account 100% of the Current/Cheque/Savings Account(s), and 50% of the Time deposit(s). The value of rewards are different for New-to-Bank and New-to-Segment clients. Reward will be in the form of credit to one of your SGD Current/Cheque/Savings account(s) with the Bank, as determined by the Bank. Failure to maintain at least one SGD Current/Cheque/Savings account with the Bank for the purposes of receiving the Account Credit will result in forfeiture of any entitlement the reward. Exclusions and other conditions apply. Please refer to the full version of Priority Banking Q2’16 Sign-Up Promotion Terms and Conditions

Benefits

Additional Features
  • Consolidated statement for easy account balancing
  • Instant access to cash through a overdraft secured against your time deposit
  • View Interest Rates

Eligibility

    • Singapore Citizen / Singapore Permanent Resident / Foreigner
    • Minimum initial deposit amount of $5,000
    • Age requirement: Minimum 18 years old
  •     Documents Required
    • Mandatory supporting documents for foreigners:
      • Passport
      • Employment Pass
      • Any of the following documents:
        • Last 3 months' utility bill
        • Last 3 months' bank statement
        • Letter from the human resource department of current employer stating address
        • Government-issued documents stating address (e.g. IRAS, CPF, ICA)
        • Telecommunications bill
        • Tenancy agreement
      • Income documents:
        • Salaried employee: current or previous month's computerised payslip from current employer (handwritten copies are not acceptable); OR latest Income Tax Notice of Assessment (if this document is faxed, please fax from the bottom end first)

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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.

Terms and Conditions

7-Month Singapore Dollar Time Deposit Promotion Terms and Conditions
  • This 7-month Singapore Dollar Time Deposit Promotion (“Promotion”) is available from 13th May 2016 to 31st May 2016 (both dates inclusive) (“Promotion Period”) unless otherwise extended or terminated in accordance with these terms. By participating in this Promotion, you agree to be bound by these terms
Eligibility
  • To be eligible for this Promotion, you must be amongst the first 1,500 customers to place a minimum sum of S$25,000 (and not exceeding S$100,000) in fresh funds* into a 7-month Singapore Dollar Time Deposit (“Time Deposit”) with Standard Chartered Bank (Singapore) Limited (the “Bank”)during the Promotion Period.
  • If you satisfy the eligibility criteria stipulated in these terms, you will earn the promotional interest rate of 1.65% p.a. for the 7-Month Singapore Dollar Time Deposit (“Promotional Rate”) on the sum in fresh funds* you placed in the Time Deposit during the Promotion Period, subject to these terms. The Promotional Rate is only applicable if the Time Deposit is held until maturity of the tenor. The Bank reserves the right to require the forfeiture of any amount or interest awarded at the Promotional Rate or any part thereof, if you make any early withdrawal from the Time Deposit prior to maturity of the tenor.
  • Notwithstanding Clause 3 above, if you are a Priority Banking client of the Bank during the Promotion Period and up till maturity of the Time Deposit tenor, you will enjoy a preferential interest rate of 1.70% p.a. for the 7-Month Singapore Dollar Time Deposit (“Preferential Rate”) on the sum in fresh funds* you placed in the Time Deposit during the Promotion Period, subject to these terms. The Preferential Rate is only applicable if the Time Deposit is held until maturity of the tenor. The Bank reserves the right to require the forfeiture of any amount or interest awarded at the Preferential Rate or any part thereof, if you make any early withdrawal from the Time Deposit prior to maturity of the tenor or if you cease to maintain your Priority Banking status during the tenor of the Time Deposit.
  • Any renewal upon maturity of the Time Deposit at the option of the account holder will be based on the Bank’s prevailing Singapore Dollar Time Deposit board rate for the same tenor.
General
  • The Promotion is not valid with other offers, privileges or promotions unless otherwise stated.
  • The Bank may vary, modify, add, delete or otherwise revise any of the terms and conditions governing the Promotion or to terminate, withdraw, extend or shorten the Promotion at any time at the Bank’s sole discretion, with or without prior notice or reason.
  • The Bank reserves the right to determine at its sole and absolute discretion all matters arising out of or in connection with the Promotion, including your eligibility for the Gifts and/or Promotion and/or the amount of interest that you are entitled to receive. The Bank’s determination of all matters relating to this Promotion shall be final and conclusive and no correspondence will be entertained.
  • The terms and conditions of the Promotion are to be read in conjunction with our Customer Terms and Current/Cheque/Savings Account and Time Deposit Terms (collectively, “Standard Terms”). If there is any inconsistency between the Standard Terms and the terms and conditions of this Promotion, the latter shall prevail to the extent of such inconsistency.

*Fresh funds refer to funds not originating from any existing account with the Bank and funds that are not withdrawn and re-deposited within the last 30 days

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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