Terms and Conditions
Standard Chartered Singapore Dollar Time Deposit CNY (3rd to 31st January 2017) Promotion Terms and Conditions
- This Standard Chartered Singapore Dollar Time Deposit CNY (3rd to 31st January 2017) Promotion (“Promotion”) is available from 3rd January 2017 to 31st January 2017 (both dates inclusive) (“Promotion Period”) to all new and existing customers of Standard Chartered Bank (Singapore) Limited (the “Bank”), who are individuals. By participating in this Promotion, you agree to be bound by these terms
- To be eligible for this Promotion:
- You must place a minimum sum of S$25,000 in Fresh funds into either a (i) 7-month Singapore Dollar Time Deposit or a (ii) 10-month Singapore Dollar Time Deposit Account (each a “Time Deposit”), with the Bank during the Promotion Period; and
- your accounts with the Bank 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, as determined by the Bank in its sole and absolute discretion.
- “Fresh funds” refer to funds that do not originate from any existing account with the Bank and funds that are not withdrawn and re-deposited within the last 30 days of opening your Time Deposit.
- If you satisfy the eligibility criteria stipulated in clause 2, you will earn the promotional interest rate of either (i) 1.15% p.a. for the 7-Month Singapore Dollar Time Deposit or (ii) 1.25% p.a. for the 10-Month Singapore Dollar Time Deposit (each a “Promotional Rate”) on the sum in Fresh funds that you had placed in the Time Deposit during the Promotion Period, subject to these terms. The Promotional Rate is only applicable if the Time Deposit is held until maturity of the tenor. The Bank reserves the right to require the forfeiture of any amount or interest awarded at the Promotional Rate or any part thereof, if you make any early withdrawal from the Time Deposit prior to maturity of the tenor.
- If you are a Priority Banking client of the Bank during the Promotion Period and up till maturity of the tenor of the Time Deposit, you will enjoy a preferential interest rate of (i) 1.18% p.a. for the 7-Month Singapore Dollar Time Deposit or (ii) 1.28% p.a. for the 10-Month Singapore Dollar Time Deposit (each a “Preferential Rate”) on the sum in Fresh funds that you had placed in the Time Deposit during the Promotion Period, subject to these terms. The Preferential Rate is only applicable if the Time Deposit is held until maturity of the tenor. The Bank reserves the right to require the forfeiture of any amount or interest awarded at the Preferential Rate or any part thereof, if you make any early withdrawal from the Time Deposit prior to maturity of the tenor or if you cease to maintain your Priority Banking status any time during the tenor of the Time Deposit.
- Any renewal upon maturity of the Time Deposit at the option of the account holder will be based on the Bank’s prevailing Singapore Dollar Time Deposit board rate for the same tenor.
- For every S$128,000 of Fresh funds* that you place into a Time Deposit during the Promotion Period, you will receive one RISIS Prosperity Tree, subject to availability for the first 1,800 redemptions. For Time Deposit accounts held in joint names, only one (1) RISIS Prosperity Tree will be given for every S$128,000 of fresh funds* deposited in such accounts and the acknowledgment of any one joint account holder of receipt of a Gift and/or Redemption Letter shall be deemed to be an acknowledgement duly provided and authorised by both joint account holders.
- Each eligible customer is limited to a maximum of two (2) RISIS Prosperity Tree (collectively “Gifts” and individually a “Gift”). The Gifts are available on a first-come-first served basis, while stocks last. The Gifts are not exchangeable for cash or any other items. A redemption letter (“Redemption Letter”) will be issued to each eligible customer at the time of his/her account opening at any of the Bank’s branch offices, and an eligible customer may redeem his/her Gift at a date and location stated in the Redemption Letter. Any Gift that is not redeemed by the expiry date stated in the Redemption Letter or otherwise stipulated by the Bank and/or merchants will be forfeited.
- No payment or compensation whether in cash, credit or kind shall be made for any uncollected, forfeited, lost, misplaced, defaced, stolen or damaged Gifts or Redemption Letters. The Bank is not an agent of the merchants supplying the Gifts. The Bank makes no warranty or representation as to the quality, value, merchantability or fitness for purpose of the Gifts and assume no liability or responsibility for the acts or omissions of the merchants or any non-performance or defects in the Gifts. Any dispute about the quality, value, condition or performance of the Gifts is to be resolved directly between the customers and the merchants.
- In the event that an eligible customer who has received the Gift, withdraws any sum from the Time Deposit prior to maturity of the tenor, the Bank also reserves the right to debit the value of the Gift (or such other amount as it deems fit) from the eligible customer’s Time Deposit account or any other account held with the Bank.
- The Gifts and Redemption Letters are not exchangeable for cash or any other items, and are non-transferable and non-assignable. The Bank reserves the right to replace or substitute the Gift with any item of equivalent or similar value, without prior notice or reason (and the Bank shall not be obliged to disclose its reason).
- The Promotion is not valid with other offers, privileges or promotions unless otherwise stated.
- The Bank may vary, modify, add, delete or otherwise revise any of the terms and conditions governing the Promotion or to terminate, withdraw, extend or shorten the Promotion at any time at the Bank’s sole and absolute discretion, without prior notice or reason (and the Bank shall not be obliged to disclose its reason).
- 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 Gifts and/or Promotion and/or the amount of interest that you are entitled to receive. The Bank’s determination of all matters relating to this Promotion shall be final and conclusive and no correspondence will be entertained.
- The terms and conditions of the Promotion are to be read in conjunction with our Customer Terms and Current/Cheque/Savings Account and Time Deposit Terms (collectively, “Standard Terms”). If there is any inconsistency between the Standard Terms and the terms and conditions of this Promotion, the latter shall prevail to the extent of such inconsistency.
RISIS Prosperity Tree
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.