Disclaimer

This is to inform that by clicking on the hyperlink, you will be leaving sc.com/sg and entering a website operated by other parties.

Such links are only provided on our website for the convenience of the Client and Standard Chartered Bank does not control or endorse such websites, and is not responsible for their contents.

The use of such website is also subject to the terms of use and other terms and guidelines, if any, contained within each such website. In the event that any of the terms contained herein conflict with the terms of use or other terms and guidelines contained within any such website, then the terms of use and other terms and guidelines for such website shall prevail.

Thank you for visiting www.sc.com/sg


Proceed

How would you like to apply?

I am NOT an existing Standard Chartered Current/Checking/Savings Account holder

*SingPass holders with a MyInfo profile can use MyInfo to automatically fill up the form. By clicking “Next”, you will be re-directed to the MyInfo portal, which is not owned or controlled by Standard Chartered Bank (Singapore) Limited or any member of the Standard Chartered Group (the “Bank”). The Bank bears no liability or responsibility over your usage of the MyInfo portal.

*Please note that MyInfo is temporarily unavailable at the stipulated downtimes:

Mon, Tues, Thurs, Fri, Sat:  5:00AM to 5:30AM. Wed: 2:00AM to 6:00AM. Sun: 2:00AM to 8:30AM

I am an existing Standard Chartered Current/Checking/Savings Account holder

    How would you like to apply?

    I am NOT an existing Standard Chartered Current/Checking/Savings Account holder

    *SingPass holders with a MyInfo profile can use MyInfo to automatically fill up the form. By clicking “Next”, you will be re-directed to the MyInfo portal, which is not owned or controlled by Standard Chartered Bank (Singapore) Limited or any member of the Standard Chartered Group (the “Bank”). The Bank bears no liability or responsibility over your usage of the MyInfo portal.

    *Please note that MyInfo is temporarily unavailable at the stipulated downtimes:

    Mon, Tues, Thurs, Fri, Sat:  5:00AM to 5:30AM. Wed: 2:00AM to 6:00AM. Sun: 2:00AM to 8:30AM

    I am an existing Standard Chartered Current/Checking/Savings Account holder

      News and medias masthead

       

      Important Information

      Change to Credit Card Interest Calculation

      Effective from 30 July 2018, there will be a change in the interest calculation method on all Credit Card account(s), including credit card funds transfers and accounts opened for instalment repayment on the following products: Credit Card Instalment Loan, Personal Loan and Automatic Payment Scheme on Platinum Access Credit Cards except Debt Consolidation Plan.

      Interest is charged if the total outstanding balance is not paid in full by the payment due date.

      Prior to 30 July 2018

      (Outstanding balance that will incur interest)

      From 30 July 2018

      (Outstanding balance that will incur interest)

      Principal amount + Fees & Charges + Interest Principal amount + Fees & Charges

      The scenarios below are for illustration purposes only and may differ depending on the individual’s account.

      Scenario 1: CLIENT MAKES FULL PAYMENT

      Prior to 30 July 2018 From 30 July 2018
      Statement

      Cycle

      Statement Balance Statement

      Cycle

      Statement Balance
      Month 1 (Principal amount + Fees & Charges) + Interest

      ($10,000 + $0 ) + $0

      Client makes $10,000 payment by payment due date.

      Month 1 (Principal amount + Fees & Charges) + Interest

      ($10,000 + $0) + $0

      Client makes $10,000 payment by payment due date.

      Month 2 $0 Month 2 $0

       

      In Scenario 1, client is not affected by the revision of credit card interest calculation.

      Scenario 2: CLIENT MAKES MINIMUM PAYMENT DUE OR LESS THAN MINIMUM PAYMENT DUE WITH NO NEW SPEND

      For illustration purposes, client makes less than minimum payment due amount on the payment due date. With this revision, the interest incurred is lower.

      Prior to 30 July 2018 From 30 July 2018
      Statement

      Cycle

      Statement Balance Statement Cycle Statement Balance
      Month 1 (Principal amount + Fees & Charges) + Interest
      ($10,000 + $0) + $600
      MPD=$700
      Client makes $50 payment on payment due date.
      Month 1 (Principal amount + Fees & Charges) + Interest
      ($10,000 + $0) + $600
      MPD=$700
      Client makes $50 payment on payment due date.
      Month 2 (Principal amount + Fees & Charges) + Interest
      ($10,000 + $80) + $777.06Interest = Current month interest on (principal amount + Fee) + (Unpaid interest from previous month + interest on unpaid interest from previous month)
      $777.06 = $214.58 + ($550 + $12.48)
      Month 2 (Principal amount + Fees & Charges) + Interest
      ($10,000 + $80) + $764.58Interest = Current month interest on (principal amount + Fee) + Unpaid interest from previous month$764.58 = $214.58 + $550
      • Payment due date PDD is assumed to be on 22nd day of the month

      FAQs

      • The bank conducts periodic reviews on our products and may revise the relevant terms and conditions  to create a better banking experience. With the revision of credit card interest calculation, the interest incurred by clients will be lower.

      • This revision will only impact you if you do not make full payment of the total outstanding balance by the payment due date as indicated on your statement.

        With effect from 31 July 2018, if you do not make full payment of the total outstanding balance by the payment due date as indicated on your monthly statement, interest will only be applied to your outstanding balance, fees and charges excluding previous interest.