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Standard Chartered ‘Insure and be rewarded’ Promotion (1 October 2018 to 31 December 2018 Terms and Conditions (“Promotion T&Cs”)

  1. This Standard Chartered ‘Insure and be rewarded’ Promotion (“Promotion”) is available from 1 October 2018 to 31 December 2018, both dates inclusive (“Promotion Period”). By participating in this Promotion, you agree to be bound by these Promotion T&Cs.
  1. This Promotion is open to new and existing customers of Standard Chartered Bank (Singapore) Limited (“Bank”) (“Eligible Customers”).
  1. Employees of (i) the Bank, (ii) Standard Chartered Bank, Singapore Branch and (iii) all other entities in the Standard Chartered Bank Group will not be eligible for this Promotion.
  1. This Promotion is not concurrently valid with the following other promotions or product offerings:
    • • Standard Chartered Steady Saver promotion

‘Insure and be rewarded’ Qualifying Criteria

 Qualifying Transaction
Purchase an Eligible Insurance Product (as defined below) with Fresh Funds (as defined below) with a minimum monthly premium of S$1,000 at any of the Bank’s branches in Singapore Special time deposit rate of 15% p.a. interest on a 3-month SGD time deposit (up to a maximum deposit placement amount of S$20,000)


  1. If an Eligible Customer has, during the Promotion Period, successfully purchased an Eligible Insurance Policy with a monthly premium of S$1,000, he/she will be entitled to place a one-time SGD 3-month time deposit of up to a maximum of S$20,000 (the “Special TD”) at a special time deposit rate of 15% per annum (“Special Rate”). The Special TD must be placed within the Promotion Period. The Special Rate is subject to variation by the Bank at any time and at its sole and absolute discretion. To illustrate, if an Eligible Customer places S$20,000 in the Special TD, he/she will receive interest amounting to S$750 upon the maturity of the Special TD.
  1. Eligible Insurance Policy” means an insurance policy underwritten by Prudential Assurance Company Singapore (Pte) Ltd (“Prudential”) and distributed by the Bank and which (a) has the above minimum monthly premium and (b) is approved by Prudential within two (2) months from the date of submission of the application for the relevant Eligible Insurance Policy, but does not include PruShield, PruMortgage and all single premium plans.
  1. In the event that: – (a) the Eligible Insurance Policy is not issued within 2 months of the submission of the relevant application; or (b) the Eligible Insurance Policy is otherwise terminated/surrendered within 12 months of the date of commencement of the Eligible Insurance Policy and/or within the 14 days free-look period of the Eligible Insurance Policy, the Bank reserves the right to:
    1. terminate the relevant Special TD with no interest payable and place such amount in a new time deposit account with the Bank, at the prevailing interest rate as at the date the initial time deposit was placed with the Bank. For clarity, in such an event, interest payable on the same will be computed from the date the initial time deposit would have been placed with the Bank;
    2. recover the interest paid to you on your Special TD at the Special Rate and you agree that in these circumstances, the Bank may do this by deducting any of your account(s) with the Bank without prior notice; or
    3. terminate the Special TD prior to its maturity and return your deposit placement amount.
  1. The purchase of any Eligible Insurance Policy is subject to terms and conditions of, and acceptance by, the underwriter, Prudential. The benefits listed in any marketing or promotional materials issued by the Bank are for illustration purposes only. Please refer to the full terms and conditions, and exclusions listed in the policy contract. The Bank does not accept any responsibility regarding any statement made in, omission or inclusion of any provision of, any contract between Prudential and an Eligible Customer. Any dispute in relation to any contract between Prudential and an Eligible Customer is to be resolved directly with Prudential. The Bank will not be liable for any injury, loss or damage arising in connection with an Eligible Customer’s application and/or any contract between Prudential and an Eligible Customer.
  1. Fresh funds” refer to funds not originating from any existing account with the Bank and funds that have not been withdrawn and re-deposited within the last 30 days. For investments, it cannot be investments that have been transferred out and transferred in (where applicable) within the last 30 days.
  1. The Bank reserves the right to determine at its sole and absolute discretion all matters arising out of or in connection with this Promotion, including eligibility. The Bank’s determination of all matters relating to this Promotion shall be final and conclusive and no correspondence will be entertained.
  1. The Bank reserves the right to do any of the following without prior notice: (a) terminate, withdraw, shorten or extend this Promotion at the Bank’s sole discretion, with or without prior notice or reason; and/or (b) vary, modify, add or delete any of the terms of this Promotion. You understand and agree to be bound by any such variation.
  1. In the event of any inconsistency between these Promotion T&Cs and any brochures, marketing or promotional materials relating to this Promotion, these Promotion T&Cs shall prevail to the extent of such inconsistency.
  1. Please read these Promotion T&Cs together with our Customer Terms, Current/Cheque/Savings Account and SGD Time Deposit Terms, Priority Banking Services and Privileges International Terms and Conditions, and Investment Product Terms (collectively, “Other Terms”). If there is any inconsistency between these Promotion T&Cs and the Other Terms, these Promotion T&Cs prevail only to the extent of such inconsistency.
  1. A person who is not a party to these Promotion T&Cs has no right under the Contracts (Rights of Third Parties) Act (Cap. 53B) to enforce any of these Promotion T&Cs.
  1. These Promotion T&Cs are governed by and shall be 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.
  1. All information is correct at time of print.

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.

Insurance: This document describes the insurance products and services provided by certain respective insurer(s) in alliance with Standard Chartered Bank (Singapore) Limited (“SCBSL”). The contents of this document do not constitute a contract of insurance and reference should be made to the respective policies for the exact terms and conditions applicable to the insurance policy, which will be sent to you upon the acceptance of your application by the respective insurer(s). This document does not constitute an offer to buy or sell an insurance product or service nor is it intended to provide insurance or financial advice. All insurance products described in this document are products of Prudential Assurance Company Singapore (Pte) Limited (“Prudential”), not SCBSL. In facilitating insurance arrangements or in referring customers to the respective insurer(s), SCBSL is acting in alliance with Prudential and not as an agent for customers. SCBSL shall not be liable in any manner whatsoever regarding your application or the contract of insurance. Buying a life insurance policy is a long-term commitment. Early termination of the life policy usually involves high cost and the surrender value payable may be less than the total premiums paid.

These Policies are protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (“SDIC”). Coverage for your Policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact Prudential or visit the LIA or SDIC websites (www.lia.org.sg or www.sdic.org.sg).