e$aver Exclusive Bonus Interest (December 2023) Promotion Terms and Conditions

1. This e$aver Exclusive Bonus Interest (December 2023) Promotion (“Promotion“) is available starting from 1 December 2023 to 30 April 2024 (both dates inclusive) (“PromotionPeriod“), unless otherwise extended or terminated in accordance with the terms of this Promotion. This Promotion is open to selected existing customers of Standard Chartered Bank (Singapore) Limited (“StandardChartered” or the “Bank”), who (i) are primary account holders of e$aver, e$aver Kids! and World Partner Savings account(s), and (ii) have received communication via any mode as determined by the Bank during the Promotion Period, notifying them of the Promotion and inviting them to participate in the Promotion, subject to these terms (such communication to be referred to as the “InvitationNotice”). For the avoidance of doubt, the Invitation Notice is non-transferable and only existing customers who have received the Invitation Notice from the Bank are eligible for this Promotion. By participating in this Promotion, you agree to be bound by these terms.

Eligibility

2. To qualify for this Promotion:
   1. you must have been invited to participate in the Promotion, having received the Invitation Notice from the Bank during the Promotion Period;
   2. you are an existing primary account holder of e$aver, e$aver Kids! and/or World Partner Savings account(s), or otherwise open during the Promotion Period a new e$aver, e$aver Kids! or World Partner Savings account with the Bank, of which you are the primary account holder (the aforementioned account(s) to be collectively referred to as “Eligible Account(s)” and each, an “Eligible Account”);
   3. you must deposit fresh funds of minimum S$100,000 into your Eligible Account(s), such that the end-of-day deposit balance on 31 December 2023 is at least S$100,000 higher than the end-of-day deposit balance on 30 November 2023. “Fresh funds” means funds that do not originate from any existing account with the Bank or funds that are not withdrawn and re-deposited within 30 days of the Promotion Period; and
   4. your Eligible Account(s) 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 crediting of any Bonus Interest (as defined in Clause 4 below) to your Qualifying Account(s), as determined by the Bank in its sole and absolute discretion.

For the purposes of this Promotion, where the above requirements are satisfied, your Eligible Account(s) shall hereinafter be referred to as “Qualifying Account(s)”.

Prevailing and Bonus Interest Rates

3. Under this Promotion, you will be eligible to receive prevailing interest (“Prevailing Interest”) on your entire deposit balance (“Deposit Balance”) in the Qualifying Account(s), at the prevailing interest rate of 0.05% p.a.
4. In addition to Prevailing Interest, if you meet the eligibility criteria in Clause 2 above, you will also earn bonus interest (“Bonus Interest“) of 3.75% p.a. (“Bonus Interest Rate”) on the first S$5,000,000 of the average daily balance (“ADB”) in your Qualifying Account(s), during the Promotion Period, subject to the following:
   1. The ADB in your Qualifying Account(s) is used to determine the amount of Bonus Interest you are entitled to receive during the Promotion Period;
   2. ADB is the sum of end-of-day account balances of all days in a particular calendar month, divided by the number of days in that month, where “end-of-day account balances” means account balances as of 2359 hours of each day:
      1. If there are n days in a calendar month and X₁, X₂, X₃, …, X_n are the end-of-day account balances from Day 1 to Day n respectively, the ADB for the account will be:X₁ + X₂ + X₃ +… + X_n/n
      2. For example, and strictly for illustration purposes: if (i) there are 31 days in December 2023, (ii) the end-of-day account balance on each day between 1 December 2023 and 15 December 2023 is S$0, and (iii) the end-of day account balance on each day between 16 December 2023 and 31 December 2023 is S$1,000, the ADB for the account will be:(S$0 x 15) + (S$1,000 x 16)/31=S$516.13
      3. Any amount of ADB exceeding S$5,000,000 in your Qualifying Account(s) shall earn the Prevailing Interest only;
      4. If you have more than one Eligible Account(s), you must deposit fresh funds of minimum S$100,000 into each individual account in order for each of them to qualify for Bonus Interest; and
      5. For the avoidance of doubt, any deposit, withdrawal or otherwise transaction in relation to your Qualifying Account(s) that takes place on the last day of a calendar month, falling on either a Sunday, a public holiday or a bank holiday, will not be taken into consideration for the purposes of the Bank’s computation of ADB and crediting of Bonus Interest.

5. Notwithstanding Clause 4 above, in the event that the bank offers to the Bank’s other customers holding Eligible Account(s), a bonus interest rate higher than Bonus Interest Rate (“HigherBonusInterestRate”) for any e$aver bonus interest promotion, indicated on our website as open to all Eligible Account(s) held during the Bonus Interest Earning Period, your Bonus Interest for that month will be computed at such Higher Bonus Interest Rate, subject to these terms.
6. The Bonus Interest shall be credited to your Qualifying Account(s) in single or multiple credit transactions by the 20^th calendar date of the following month (the “Bonus Interest Crediting Date”), provided that your Qualifying Account remains valid and in good standing as at the Bonus Interest Crediting Date.
7. In the event the Bank has determined that you are not eligible to receive the Bonus Interest or to participate in the Promotion, or where the Bank has knowledge of subsequent events which would mean that you would not have been entitled to receive the Bonus Interest, the Bank reserves the right to claw back the Bonus Interest or to deduct its value (or such other amount as it deems fit) from your account(s) with the Bank.

General

8. Unless otherwise stated, this Promotion is not valid with any other e$aver offers, discounts, rebates, vouchers, privileges or promotions.

9. Please refer to the Bank’s Pricing Guide for any applicable fees and charges, or visit the Bank’s website for more information on e$aver, including the latest terms and conditions applicable to the Promotion.

10. The Bank may at any time vary, modify, add or delete any of the terms and conditions governing the Promotion and all applicable interest rates and to terminate, withdraw, suspend, extend or shorten the Promotion, without prior notice or reason.

11. 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 Promotion and/or the amount of interest that you are entitled to receive. The Bank’s decision in all matters arising out of or in connection with the Promotion is final and conclusive and no correspondence will be entertained.

12. These e$aver Exclusive Bonus Interest (December 2023) Promotion Terms and Conditions are to be read in conjunction with the Bank’s Customer Terms, the Current/Cheque/Savings Account and Time Deposit Terms, e$aver Account Product Terms and e$aver Kids! Account Product Terms (collectively, “Other Terms“). If there is any inconsistency between these terms and the Other Terms, these terms will prevail only to the extent of such inconsistency.

13. A person who is not a party to these terms shall have no right under the Contracts (Rights of Third Parties) Act 2001 to enforce these terms.

14. 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.

15. 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$75,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.

Published on 30 November 2023