Employee Banking Programme Terms and Conditions

    • Note: These Standard Chartered Employee Banking Programme Terms and Conditions have been updated as of 30 June 2017, to reflect changes to existing promotional offers, (a) extension of CashOne Personal Loan Preferential Interest Rates to 31 December 2017; and (b) extension of $199 Cashback - CashOne / Credit Card Instalment Loan to 31 December 2017. Please refer to the section on “Benefits and Privileges under the EB Programme” for privileges available to EB clients.

    Standard Chartered Employee Banking Programme Terms and Conditions

    Overview of the Employee Banking Programme

    1. These Standard Chartered Employee Banking Programme Terms and Conditions are applicable when you apply for (and are provided with) any of the banking products offered by Standard Chartered Bank (Singapore) Limited (the “Bank”) in Singapore from time to time, in your capacity as an employee (the “EB Employee”) of a participating company (the “EB Company”) of the Standard Chartered Employee Banking Programme (the “EB Programme”) and/or otherwise as a participating employee through the EB Programme. These terms and conditions are supplemental to, and form part of the terms and conditions of, your banking agreement with the Bank. You must read these terms together with the Bank’s Customer Terms, Current/Cheque/Savings Account and Time Deposit Terms, Credit Card Terms and/or any other product terms which may be applicable as part of your banking agreement with the Bank. In the event of any inconsistency between these terms and the other terms governing your banking relationship with the Bank, these terms prevail only to the extent of such inconsistency. By participating in the EB Programme, you agree to be bound by these terms, as may be amended from time to time, with or without prior notice or reason, and you agree and consent to the EB Company disclosing (and the Bank using and collecting from the EB Company) any and all relevant information relating to your employment in order to determine your eligibility under the EB Programme and/or otherwise to provide you with the relevant benefits and privileges.

    2. As an EB Employee, you may enjoy additional benefits and privileges offered as part of the EB Programme, as detailed below or otherwise notified to you from time to time, subject to these terms. The benefits and privileges of the EB Programme are detailed more fully on the Bank’s website and may be subject to change.

    Eligibility

    1. Unless the Bank agrees otherwise, in order to be eligible for the benefits and privileges conferred on an EB Employee pursuant to this EB Programme, you must satisfy the following requirements:
      1. you must be an employee of an EB Company;

      2. you must apply for and have your application for the SuperSalary account (“SuperSalary Account”), the Bonus$aver account (“Bonus$aver Account”) or any other eligible current and savings account offered by the Bank in conjunction with the EB Programme (as the case may be) approved by the Bank (the “Eligible Account”);

      3. you must successfully make arrangements for either (i) the crediting of your monthly salary by your employer (being an EB Company) into your Eligible Account with the Bank; or (ii) the transfer of your monthly salary from your account with another bank to your Eligible Account with the Bank by way of a GIRO application

      4. you must satisfy and/or comply with any additional criteria prescribed for the individual banking product below; and

      5. your SuperSalary Account, your Bonus$aver Account or any other banking product offered by the Bank in conjunction with the EB Programme (as the case may be) must be validly existing (i.e. must not be suspended, cancelled or terminated), in good standing, and conducted in a proper and satisfactory manner as determined in the Bank’s sole and absolute discretion


    2. For the avoidance of doubt, you shall not be eligible for any of the benefits and privileges offered under this EB Programme if and when (i) you cease to be an employee of the EB Company; (ii) the EB Company ceases to be a participating company of the EB Programme; or (iii) the EB Programme is terminated for any reason whatsoever at the Bank’s sole and absolute discretion. In that event, you agree that the Bank may withdraw and/or remove any benefit conferred on you under the EB Programme, and recover such benefit and/or any loss suffered as a consequence of the foregoing.

    3. In addition, you are not eligible to participate in this EB Programme or will be immediately disqualified from participating in this EB Programme if:
      1. any of your accounts with the Bank has been suspended, terminated or closed;

      2. you face any legal proceeding or any threat thereof;

      3. any of your accounts with the Bank is (or becomes) not in good standing, delinquent or otherwise unsatisfactorily conducted for any reason;

      4. you die or become incapacitated for any reason;

      5. you become a bankrupt; or

      6. you breach or have breached any other term of your banking agreement with the Bank or such further or other term as may be imposed by the Bank and notified to you from time to time.


    4. The Bank reserves the sole and absolute discretion to determine your eligibility to participate in this EB Programme, or otherwise your entitlement to any of the benefits and privileges.

    Benefits and Privileges under the EB Programme

    Cashback for Priority Banking Visa Infinite Credit Card Sign-ups

    1. You will be entitled to receive up to S$100 cashback (which will be credited to your VI Credit Card account (defined below)) if:
      1. you are new to and apply for the Bank’s Visa Infinite Credit Card (the “VI Credit Card”) as a principal cardholder through this EB Programme;

      2. your application for the VI Credit Card is approved by the Bank;

      3. your VI Credit Card account is validly existing (i.e. must not be suspended, cancelled or terminated), in good standing, and conducted in a proper and satisfactory manner at all times, as determined by the Bank in its sole and absolute discretion;

      4. you meet the eligibility criteria in Clause 3 above;

      5. you did not terminate any unsecured credit facilities (including any principal credit card or personal loan) with the Bank within the six (6) months prior to the date of application for the VI Credit Card; and

      6. you do not have any existing principal credit cards (whether the cards are VI Credit Cards or other credit cards) or personal loans issued by the Bank as at the time of approval of your application for the VI Credit Card.


    2. Notwithstanding Clause 7 above, you may be entitled to receive up to S$40 cashback if you already have existing principal credit cards with the Bank (whether the cards are Eligible Credit Cards or other credit card(s)) or personal loans issued by the Bank at the time of approval of your VI Credit Card application, subject to Clauses 9 and 10 below.

    3. For the avoidance of doubt, you are not eligible for any cashback if you have already been awarded cashback for the total amount of S$160 under the Credit Cards S$80 Cashback promotions held from 1 November 2011 onwards (“Previous Promotions”). The maximum amount of cashback that may be awarded to you under the EB Programme together with the Previous Promotions, the Credit Cards Sign-Up Gift and Cashback Promotion (“Credit Card Gift and Cashback Promotion”), and various other Credit Cards Cashback Promotions is capped at S$120.

    1. Unless otherwise stated, the cashback will be credited to your principal VI Credit Card account within 60 days from the date of activation of the VI Credit Card, and the crediting of the cashback may be completed in tranches at the Bank’s discretion. Any cashback credited into the principal VI Credit Card account must be utilised within six (6) calendar months from the date of activation of the VI Credit Card, failing which the unutilised portion of the cashback will be forfeited and no compensation will be given.

    CashOne Personal Loan Preferential Interest Rates

    1. For a limited period from 1 November 2015 to 31 December 2017, you will be eligible to enjoy a promotional interest rate of 5.68% p.a. on your CashOne Personal Loan if:
      1. you apply for a CashOne Personal Loan of S$1,000 and above, repayable over tenor between 12 and 60 months, with the Bank during the promotional period;

      2. your application for the CashOne Personal Loan is approved by the Bank;

      3. your CashOne Personal Loan account is validly existing (i.e. must not be suspended, cancelled or terminated), in good standing, and conducted in a proper and satisfactory manner at all times, as determined by the Bank in its sole and absolute discretion; and

      4. you meet the eligibility criteria in Clause 3 above.

    1. Notwithstanding Clause 11 above, you will be eligible to enjoy a preferential interest rate of 3.88% p.a. on your CashOne Personal Loan if you are a Priority Banking client of the Bank at the time of your application.

    2. For illustration purposes, you may refer to the following table on the applicable Effective Interest Rate (“EIR”), subject to the approved loan amount and/or tenor.

      EB Employee with Priority Banking Relationship:

      Loan amount(S$) Loan Tenor(months) Preferential Interest Rate (p.a.) EIR(p.a.)
      $20,000 12 3.88% 8.97%
      $20,000 24 3.88% 8.27%
      $20,000 36 3.88% 7.97%
      $20,000 48 3.88% 7.78%
      $20,000 60 3.88% 7.63%

      EB Employee with Personal Banking Relationship:

      Loan amount(S$) Loan Tenor(months) Preferential Interest Rate (p.a.) EIR(p.a.)
      $20,000 12 5.68% 12.22%
      $20,000 24 5.68% 11.56%
      $20,000 36 5.68% 11.21%
      $20,000 48 5.68% 10.95%
      $20,000 60 5.68% 10.74%

      For the avoidance of doubt, the above tables are prepared for illustration purposes only, and the actual EIR may differ on a case-to-case basis, depending on your approved loan amount and/or tenor. EIR is calculated taking into consideration the first year annual fee of $199 and is based on an average loan amount of $20,000.

    1. Please refer to sc.com/sg/borrow/loans/cashone/ for more information, including applicable fees and charges.

    2. For the avoidance of doubt, you must not have had your previous CashOne Personal Loan accounts suspended, cancelled or terminated for any reason prior to your new application, and subsequently re-open another CashOne Personal Loan account for the purposes of this promotional offer.

    3. Notwithstanding the foregoing, the Bank may continue to process any application received by the Bank up to seven (7) calendar days after the promotional period, and the Bank shall retain the sole and absolute discretion to determine the eligibility of these applications and/or allow the said applications for the purposes of this offer on a case-to-case basis, subject to these terms.

    4. The Bank reserves the right to revise the promotional interest rate and/or preferential interest rate with or without prior notice or reason.

    $199 Cashback - CashOne / Credit Card Instalment Loan

    1. For a limited period from 1 November 2015 to 31 December 2017, you will be eligible to receive a one-time cashback of S$199 (“$199 Cashback”), which will be credited to your loan repayment account (for either CashOne Personal Loan or Credit Card Instalment Loan, as the case may be) if:

      1. you apply for a new CashOne Personal Loan or Credit Card Instalment Loan with the Bank during the promotional period;
      2. your application for the CashOne Personal Loan or Credit Card Instalment Loan is approved by the Bank;
      3. your CashOne Personal Loan account or Credit Card Instalment Loan account is validly existing (i.e. must not be suspended, cancelled or terminated), in good standing, and conducted in a proper and satisfactory manner at all times, as determined by the Bank in its sole and absolute discretion; and
      4. you meet the eligibility criteria in Clause 3 above.

    2. For the avoidance of doubt, you must not have had your previous CashOne Personal Loan accounts or Credit Card Instalment Loan accounts suspended, cancelled or terminated for any reason prior to your new application, and subsequently re-open another CashOne Personal Loan account or Credit Card Instalment Loan account for the purposes of this promotional offer.

    3. Notwithstanding the foregoing, the Bank may continue to process any application received by the Bank up to seven (7) calendar days after the promotional period, and the Bank shall retain the sole and absolute discretion to determine the eligibility of these applications and/or allow the said applications for the purposes of this offer on a case-to-case basis, subject to these terms.

    General

    1. The benefits and privileges conferred under this EB Programme on an EB Employee are non-transferable and non-assignable; and they are not applicable retrospectively to any existing products or services held by you.

    2. In addition to these terms and conditions, you must comply with all terms and conditions relevant to the specific product offering and any other terms that govern your banking relationship with the Bank.

    3. Unless otherwise stated, this EB Programme is not valid with other offers, discounts, rebates, vouchers, privileges or promotions.

    4. The Bank may vary, modify, add, delete or otherwise revise any of the terms and conditions governing the EB Programme (including but not limited to the benefits and privileges set out above, any applicable interest rates, fees and charges) or to terminate, withdraw or discontinue the offering of any benefits and privileges and/or the EB Programme at any time at the Bank’s sole and absolute discretion, with or without prior notice or reason. Please visit the Bank’s website for the latest terms and conditions applicable to the EB Programme.

    5. For the avoidance of doubt, any quoted preferential rates, interest rates, fees and charges and/or any waiver thereof are valid for EB Employees only. Upon resignation and/or termination of employment with the EB Company, the standard and prevailing commercial rates, interest rates, fees and charges shall apply. The Bank reserves the right to vary the applicable rates, fees and charges, in accordance with the terms of your banking agreement with the Bank, as may be amended and/or notified to you from time to time.

    6. The Bank reserves the right to determine at its sole and absolute discretion all matters arising out of or in connection with the EB Programme, including your eligibility for any benefits and privileges and/or the EB Programme. The Bank’s determination of all matters relating to this EB Programme shall be final and binding and no correspondence will be entertained. In the event of any inconsistency between these terms and conditions and any brochures, marketing or promotional materials relating to the Program, these terms and conditions shall prevail to the extent of such inconsistency.

    7. A person who is not a party to these terms and conditions has no right under the Contracts (Rights of Third Parties) Act (Cap. 53B) to enforce any of these terms and conditions.

    8. These terms and conditions are governed by and construed in accordance with the laws of the Republic of Singapore and you agree to submit to the exclusive jurisdiction of the courts of the Republic of Singapore.

    9. All information is correct as at the time of publication.

Employee Banking Sign-Up Gift Promotion Terms and Conditions

    • Note:These Standard Chartered Employee Banking Sign-Up Gift Promotion Terms and Conditions have been updated as of 30 September 2017 to reflect an extension to the promotion till 31 October 2017.

    Employee Banking Sign-Up Gift Promotion Terms and Conditions

      1. This Employee Banking Sign-Up Gift Promotion (the “Promotion”) is available from 1 October 2017 to 31 October 2017 (both dates inclusive) (the “Promotion Period”), unless otherwise extended or terminated in accordance with these terms. This Promotion is open to all employees of a participating company (the “EB Company”) in the Employee Banking Programme (the “Bank’s EB Programme”) of Standard Chartered Bank (Singapore) Limited (the “Bank”), subject to these terms. From time to time, an Employee Banking Event (“EB Event”) may also be held at the premises of the EB Company in conjunction with the Promotion and the Bank’s EB Programme. By participating in the Promotion, you agree to be bound by these terms and conditions.
      2. To qualify for the Promotion, you must show valid proof of your identity as an employee of the EB Company in the form of a staff pass or such other documentation as may be required by the Bank (determined at the Bank’s sole and absolute discretion) from time to time.

      ELIGIBILITY

      1. To qualify for this Promotion:
        1. You must, during the Promotion Period, successfully apply for all the banking products listed under Type A or B in the table below through the Bank’s Employee Banking Programme, using the application forms and envelopes provided by the Bank and marked with an identifiable campaign code (collectively, “Qualifying Transactions”) to receive the relevant gifts, while stocks last, as set out in the corresponding column below (each a “Gift”):

        Qualifying Transactions to be performed during the Promotion Period Gift
        Type

        A

        You must perform ALL of the following:

        1. You must be new to and apply for a Bonus$aver Account (“Bonus$aver Account”) as a main account holder;
        2. You must successfully make arrangements for the crediting of your monthly salary by your employer into the Bonus$aver Account within 90 days of account opening; and
        3. Any one (1) of the following credit cards (each a “Qualifying Credit Card”) offered by the Bank, as a principal cardholder:
          • Unlimited Cashback Credit Card;
          • Platinum Visa/Mastercard® Credit Card;
          • SingPost Spree Credit Card;
          • NUS Alumni Platinum Credit Card;
          • Business Platinum Credit Card;
          • Prudential Platinum Credit Card;
          • PruPrestige Visa Signature Credit Card;
          • Bonus$aver World Mastercard Credit Card;
          • Priority Banking Visa Infinite Credit Card; or
          • Visa Infinite Credit Card
        		Subject to Clause 7, the Gift shall be as indicated in the marketing materials shared by the Bank with you pursuant to the Bank’s EB Programme.
        Type

        B

        You must perform ALL of the following:

        1. You must be new to and apply for a SuperSalary Account (“SuperSalary Account”) as a main account holder;
        2. You must successfully make arrangements within 90 days of account opening date for (i) the crediting of your monthly salary (of no less than S$1,500 nett) by your employer into the SuperSalary Account; or (ii) the transfer of your monthly salary (of no less than S$1,500 nett) from your account with another bank to the SuperSalary Account with the Bank by way of a GIRO application; and
        3. Any one (1) Qualifying Credit Cards offered by the Bank as a principal cardholder.
        		 Subject to Clause 7, the Gift shall be as indicated in the marketing materials shared by the Bank with you pursuant to the Bank’s EB Programme.
        1. the Bank must receive your applications for the Qualifying Transactions at the latest within one (1) calendar month after the expiry of the Promotion Period i.e. latest by 30 November 2017;
        2. your applications for the Qualifying Transactions must be approved by the Bank;
        3. the Qualifying Transactions must be validly existing (i.e. must not be suspended, cancelled or terminated), in good standing, and conducted in a proper and satisfactory manner at all times, including the time of delivery and/or collection of any Gift (as defined above), as determined by the Bank in its sole and absolute discretion; and
        4. for the avoidance of doubt, the Promotion is only applicable to new applications for the products listed in the Qualifying Transactions received by the Bank on or before 30 November 2017; and you must not have had a previous product listed in the Qualifying Transaction suspended, cancelled or terminated for any reason, prior to your new application, and subsequently reapply another product listed in the Qualifying Transaction for the purposes of this Promotion.

      GIFT

      1. If you satisfy the qualifying criteria set out in Clause 3 above, you will be eligible to receive the Gift that corresponds to the type of Qualifying Transactions set out in the table (as the case may be) under Clause 3(a) above, subject to these terms.
      2. The Gifts are provided by third party merchants. The Bank is not an agent of the merchants supplying the Gifts. The Bank makes no warranty or representation as to the quality, value, merchantability or fitness for purpose of the Gifts, and assume no liability or responsibility for the acts or omissions of the merchants or any non-performance or defects in the Gifts. Any dispute about the quality, value, condition or performance of the Gifts is to be resolved by you directly with the merchants. The Bank is not obliged to assist or act on your behalf in communicating with the merchants supplying the Gifts for any reason. You accept the Gifts as they are and subject to any terms and conditions the merchants may impose.
      3. No payment or compensation whether in cash, credit or kind shall be made for any unused, lost, misplaced, defaced, stolen or damaged Gift.
      4. Each Gift is non-redeemable for cash, credit and/or any other items. The Gift is strictly non-transferable, non-assignable and non-exchangeable, whether in full or in part. The Bank may, at its sole and absolute discretion, replace or substitute the Gift with any item of equivalent or similar value, at any time without prior notice or reason (and the Bank shall not be obliged to disclose its reasons).
      5. Except for death or personal injury caused by the negligence of the Bank, the Bank shall not be responsible for, and you hereby agree to release and hold the Bank harmless for, any expenses, loss (whether foreseeable or not), claim or damage suffered or incurred (whether in common law or equity) arising from or in connection with, directly or indirectly, your redemption of and/or enjoyment of the Gifts and/or this Promotion, to the fullest extent permitted by law.
      6. For the avoidance of doubt, you are only eligible to receive a maximum of one (1) Gift that corresponds to the Qualifying Transactions set out under Type A or B (as the case may be) for the Promotion, and the Gifts are available only on a first-come, first-served basis, while stocks last.
      7. If the Bank at any time determines (at its sole and absolute discretion) that any of the eligibility requirements set out in Clause 3 above was not or has not been complied with but the Gift has been redeemed by you, the Bank reserves the right to recover the Gift or recover or debit the value of the Gift from you. The Bank further reserves the right to recover or debit the value of the Gifts from you and/or forfeit any Gifts without compensation, (a) if you terminate any of the products listed in the Qualifying Transactions, which you applied for under the Promotion, within six (6) months of account opening date, following the delivery and/or collection of the Gifts and/or (b) if any of the products listed in and applied for by you for purposes of the Qualifying Transactions are not valid, subsisting and/or in good standing at the time of delivery and/or collection of the Gifts, as determined at the Bank’s sole and absolute discretion.

      REDEMPTION

      1. If you qualify to receive any Gift, you will be notified by a redemption letter sent to your mailing address according to the Bank’s records or such other manner of communication adopted by the Bank to inform you of the details for redemption of the Gift (each a “Redemption Notice”). Redemption Notices for the Gifts will be sent to you within sixty (60) days of the latest date of fulfilment for all the criteria set out in Clause 3.
      2. The Gift must be redeemed during the redemption period stated in the Redemption Notice. The Bank will not extend the redemption date should you fail to redeem the Gift during the redemption period for any reasons whatsoever. If you do not redeem the Gift during the redemption period, the Gift will be forfeited.
      3. By participating in this Promotion, you consent to us disclosing the last four digits of your NRIC/passport number to persons who are involved in fulfilling the redemption of the Gifts (including but not limited to the merchants supplying the Gifts and/or merchants administering the redemption of the Gifts) for purposes of verifying your identity during redemption.
      4. When you redeem the Gift, the merchant (named in the Redemption Notice and administering redemption at the redemption location and/or supplying the Gift) may require you to disclose your information (including name, identification/passport number, mailing address and contact number) for the purposes of verifying your identity to redeem the Gift and recording your redemption of the Gift. If you do not consent to such disclosure, you will not be able to redeem the Gift and it will be forfeited.
      5. Only original copies of Redemption Notices will be accepted for redemption. The Redemption Notice is valid for a one-time redemption only. Any attempt to use the same Redemption Notice for more than one redemption shall not be permitted. If a Gift is redeemed more than once by you or your authorised representative (if applicable) using the same Redemption Notice, the Bank reserves the right to claw back the full value of the Gift that was redeemed in excess. The Bank’s determination in this regard shall be final and conclusive.
      6. If you receive a Redemption Notice in the form of an SMS, (a) a print-screen of the SMS will not be accepted for redemption and (b) if the SMS had been altered or tampered with or is unreadable, the SMS will not be accepted for redemption. A deleted SMS will not be replaced.
      7. If you receive a Redemption Notice in the form of a letter, (a) a photocopy of the letter will not be accepted for redemption and (b) if the letter have been tampered with or damaged, the letter will not be accepted for redemption.
      8. The Gift must be collected personally by you or the authorised representative. Should you be unable to collect the Gift personally, you may sign the authorisation letter to enable another person to collect the Gift on your behalf and forward the original Redemption Notice to your authorised representative. The authorised representative will need to present his/her NRIC/passport together with the Redemption Notice, and authorisation letter duly signed by you to redeem the Gift.

      GENERAL TERMS

      1. Unless otherwise stated, this Promotion is not valid with other offers, discounts, rebates, vouchers, privileges or promotions.
      2. The Bank reserves the right to vary, modify, add, delete or otherwise revise any of these terms and conditions 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 (and the Bank shall not be obliged to disclose its reasons).
      3. 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 the Promotion. The Bank’s determination of all matters relating to this Promotion, including but not limited to, your eligibility to participate in the Promotion and/or receive any Gifts, shall be final and binding and no correspondence, objection or appeal will be entertained (and the Bank shall not be obliged to disclose its reasons).
      4. You may be subject to additional individual product terms and requirements, and should contact your Relationship Manager for details.
      5. For the avoidance of doubt, the following fees may be applicable:
        1. a non inward credit fee of S$5 may be charged to the SuperSalary Account if you credit or transfer less than S$1,500 nett per month to the SuperSalary Account;
        2. a monthly fall-below fee of S$5 may be charged if you fail to maintain a minimum average daily balance of S$3,000 in the Bonus$aver Account; and
        3. a closure fee of S$30 may be charged to your SuperSalary Account if the account is closed within six (6) months from the date of account opening.
      6. Please refer to the Bank’s Pricing Guide at here for information on applicable fees and charges.
      7. These terms and conditions are to be read in conjunction with the Bank’s Customer Terms, the Current / Cheque / Savings Account and Time Deposit Terms, the Credit Card Terms, the SuperSalary Product Terms, the Bonus$aver Product Terms, Standard Chartered Employee Banking Programme Terms and Conditions, the SuperSalary Bonus Interest (1 March to 31 December 2017) Promotion Terms and Conditions, the Credit Cards Sign-Up Promotion (1 October to 31 December 2017) Terms and Conditions, and the Bonus$aver Sign-up Gift (1 Aug – 31 Oct 2017) Promotion Terms and Conditions (collectively, the “Other Terms”). In the event of any inconsistency between these terms and the Other Terms, these terms shall, to the extent of such inconsistency, prevail.
      8. A person who is not a party to these terms and conditions has no rights under the Contracts (Rights of Third Parties) Act (Cap. 53B) to enforce any of these terms and conditions.
      9. These terms and conditions are governed and construed in accordance with the laws of Singapore. Any dispute arising out of these terms and conditions shall be referred to the exclusive jurisdiction of the Courts of Singapore.
      10. All information is accurate at the time of publication.

      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.