e$aver Exclusive Step Up Bonus Interest (November 2024) Promotion Terms and Conditions

1. This e$aver Exclusive Step Up Bonus Interest (November 2024) Promotion (“Promotion“) is available starting from 1 November 2024 to 31 January 2025 (both dates inclusive) (“PromotionPeriod“), unless otherwise extended or terminated in accordance with the terms of this Promotion. This Promotion is open to selected existing customers of Standard Chartered Bank (Singapore) Limited (“StandardChartered” or the “Bank”), who (i) are primary account holders of e$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 30 November 2024 is at least S$100,000 higher than the end-of-day deposit balance on 31 October 2024. “Fresh funds” means funds that do not originate from any existing account with the Bank or funds that are not withdrawn and re-deposited within 30 days of the Promotion Period; and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)”.

This Promotion is not valid with any other e$aver promotions. For the avoidance of doubt, any Eligible Account(s) participating in the e$aver Marathon $aver Promotion will not be eligible for this Promotion.

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“) as indicated in table 1 below (“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:

Table 1:

a. 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;

b. 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:

i. 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

ii. For example,  and strictly for illustration purposes: if (i) there are 30 days in November 2024, (ii) the end-of-day account balance on each day between 1 November 2024 and 15 November 2024 is S$0, and (iii) the end-of day account balance on each day between 16 November 2024 and 30 November 2024 is S$1,000, the ADB for the account will be:  (S$0 x 15) + (S$1,000 x 15)/30 =   S$500

c. Any  amount of ADB exceeding S$5,000,000 in your Qualifying Account(s) shall earn the Prevailing Interest only;

d. 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

e. 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. 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.