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e$aver Exclusive Bonus Interest (May 2018) Promotion Terms and Conditions

e$aver Exclusive Bonus Interest (May 2018) Promotion Terms and Conditions

  1. This e$aver Exclusive Bonus Interest (May 2018) Promotion (“Promotion”) is available from 1 May 2018 to 31 May 2018 (both dates inclusive) (“Promotion Period”), unless otherwise extended or terminated in accordance with the terms of this Promotion. This Promotion is open to selected existing customers of Standard Chartered Bank (Singapore) Limited (“Standard Chartered” or the “Bank”), who (i) have existing e$aver, e$aver Kids! and World Partner Savings account(s) (“Qualifying Account(s)”), or had maintained Qualifying Account(s) with the Bank previously, and (ii) have received a letter and/or SMS from the Bank during the Promotion Period, notifying them of the Promotion and inviting them to participate in the Promotion, subject to these terms (the “Invitation Notice”). For the avoidance of doubt, this invitation 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.


  1. 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 must have, or otherwise open, a Qualifying Account with the Bank, of which you are the main account holder;
    3. you must deposit fresh funds* into your Qualifying Account(s), such that the end-of-day deposit balance in your Qualifying Account(s) on 31 May 2018 meets the minimum threshold of S$100,000, where "fresh funds" means funds that do not originate from any existing account with the Bank or funds that are not withdrawn and re-deposited within 30 days of the Promotion Period; and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 Qualifying 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.

Prevailing and Bonus Interest Rates

  1. 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 that corresponds to the deposit balance tier reflected in the table below.
    Deposit Balance Tier Prevailing Interest Rate on Deposit Balance
    <S$50,000 0.10% p.a.
    S$50,000 to <S$200,000 0.15% p.a.
    >S$200,000 0.25% p.a.
  2. In addition to Prevailing Interest, if you meet the eligibility criteria in Clause 2 above, you will also earn bonus interest of 1.20% p.a. ("Bonus Interest") on the first S$5,000,000 of the average daily balance (“ADB”) in your Qualifying Account, for a period of twelve (12) calendar months from 1 May 2018, that is, from 1 May 2018 to 30 April 2019 (“Bonus Interest Earning Period”), subject to the following:
    1. The ADB in your Qualifying Account is used to determine the amount of Bonus Interest you are entitled to receive over the Bonus Interest Earning 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, …, Xn are the end-of-day account balances from Day 1 to Day n respectively, the ADB for the account will be:



                    X1 + X2 + X3 +… + Xn




          1. For example and strictly for illustration purposes: if (i) there are 31 days in May 2018, (ii) the end-of-day account balance on each day between 1 May 2018 and 15 May 2018 is S$0, and (iii) the end-of day account balance on each day between 16 May 2018 and 31 May 2018 is S$1,000, the ADB for the account will be:


               (S$0 x 15) + (S$1,000 x 16)

                   -------------------------------------------------------                     =                        S$516.13


    3. Any amount of ADB exceeding S$5,000,000 in your Qualifying Account shall earn the Prevailing Interest only; and
    4. For the avoidance of doubt, any deposit, withdrawal or otherwise transaction in relation to your Qualifying Account(s) that takes place on the last day of a calendar month, falling on either a Sunday, a public holiday or a bank holiday, will not be taken into consideration for the purposes of the Bank’s computation of ADB and crediting of Bonus Interest.
  3. Notwithstanding Clause 4 above, in the event that the Bank offers to the Bank’s other customers holding Qualifying Account(s), a bonus interest rate higher than 1.20% p.a. (“Higher Bonus Interest Rate”) for any e$aver promotion 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.
  4. The Bonus Interest shall be credited to your Qualifying Account within fifteen (15) working days of the last day of the preceding calendar month (the “Bonus Interest Crediting Date”), provided that your Qualifying Account remains valid and in good standing as at the Bonus Interest Crediting Date.


  1. Unless otherwise stated, this Promotion is not valid with any other offers, discounts, rebates, vouchers, privileges or promotions.
  2. Please refer to the Bank’s Pricing Guide at sc.com/sg/pricingguide for any applicable fees and charges, or visit sc.com/sg/save/saving-esaver.html for more information on e$aver, including the latest terms and conditions applicable to the Promotion.
  3. The Bank may at any time vary, modify, add or delete any of the terms and conditions go verning the Promotion and all applicable interest rates and to terminate, withdraw, extend or shorten the Promotion, without prior notice or reason.
  4. The Bank reserves the right to determine at its sole and absolute discretion all matters arising out of or in connection with the Promotion, including your eligibility for the Promotion and/or the amount of interest that you are entitled to receive.  The Bank’s decision in all matters arising out of or in connection with the Promotion is final and conclusive and no correspondence will be entertained.
  5. These e$aver Exclusive Bonus Interest (May 2018) 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 ("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.
  6. A person who is not a party to these terms shall have no right under the Contracts (Right of Third Parties) Act (Cap. 53B) to enforce these terms.
  7. 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.
  8. 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.