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Standard Chartered Singapore Time Deposits & Business$aver Promotion 2018 (“Promotion”) Terms and Conditions – Business Banking

1. This Standard Chartered Singapore Time Deposits (“TD”) & Business$aver (“BIZS”) Promotion 2018 is available from 1st August to 31st October 2018 (both dates inclusive) (“Promotion Period”) to Business Banking Customers of Standard Chartered Bank (Singapore) Limited (the “Bank”). By participating in this Promotion, you agree to be bound by these terms.

Eligibility Criteria

2.1 Time Deposits

To be eligible for this Promotion, you must, during the Promotion Period, open a SGD or USD Time Deposit Account and place a minimum sum of S$200,000 / US$200,000 of fresh funds* into the SGD or USD Time Deposit Account respectively, and the TD must have a tenor of at least 6 months (a “Qualifying Time Deposit”).

2.2. Business$aver

To be eligible for this promotion, you must, during the Promotion Period, open a SGD or USD Business$aver Account and place a minimum sum of S$50,000 / US$50,000 of fresh funds* into the SGD or USD Business$aver Account respectively and the minimum sum of fresh funds must be maintained for at least 6 months (a “Qualifying” Business$aver”).

2.3. In addition, in order to qualify under this Promotion, the Business Banking customer must:

a. present and submit to the Bank all documents as required for the opening of the Time Deposits and/or Business$aver accounts;

b. open the TD or BIZS account within the Promotion Period; and

c. present and submit the Standard Chartered Singapore Business Banking Time deposit / Business$aver Campaign 2018 Consent Form with the accurate information inputted.

(collectively, 2.1; 2.2 and 2.3 are known as the “Eligibility Criteria”).

Promotion

3. If you satisfy the Eligibility Criteria in opening a relevant Time Deposit per the clauses above, during the Promotion Period and up till maturity of the tenor of the Time Deposit, you will enjoy the interest rate as set out in the table below (each, a “TD Rate”) on the sum in fresh funds* that you had placed in the Time Deposit during the Promotion Period, subject to these terms:

Tenor 6 months 12 months
SGD Rate 1.50% 1.55%
USD Rate 2.30% 2.60%

4. The TD Rate is only applicable if the Time Deposit is held by you until maturity of the tenor. The Bank reserves the right to require the forfeiture of any amount or interest awarded at the TD Rate or any part thereof, if you make any early withdrawal from the Time Deposit prior to maturity of the tenor.

5. Any renewal upon maturity of the Time Deposit is at the option of the account holder and will be based on the Bank’s prevailing SGD Time Deposit / USD Time Deposit board rate for the same tenor.

Gift

6. Customers who satisfy the Eligibility Criteria shall be eligible to receive an Imperial Treasure Club Silver Membership promo code (“Membership”) (valued at S$350) for the opening of a Qualifying Time Deposit and/or a Qualifying Business$aver account during the Promotion Period.

7. A maximum of one Membership will be offered for each type of account (i.e. (i) Time Deposit or (ii) Business$aver). To illustrate, even if you open five Qualifying Time Deposits, you will only be entitled to one Membership. However, if you open five Qualifying Time Deposits and one Qualifying Business$aver, you will be entitled to two Memberships: one for the Qualifying Time Deposit(s) and one for the Qualifying Business$aver.

8. Each eligible customer is limited to a maximum of two (2) Memberships. The Memberships are available on a first-come-first served basis, while stocks last. The Membership are not exchangeable for cash or any other items.

9. The Membership will be in the name of the appointed individual(s) authorised by you in a separate form.

10. No payment or compensation whether in cash, credit or kind shall be made for any non-activated Membership promo codes. The Bank is not an agent of the merchants supplying the Membership. The Bank makes no warranty or representation as to the quality, value, merchantability or fitness for purpose of the Membership and assumes no liability or responsibility for the acts or omissions of the merchants or any non-performance or defects in the Membership. Any dispute about the quality, value, condition or performance of the Membership is to be resolved directly between the customers and the merchants.

11. The Bank will not be held liable for the details divulged through the activation of the Membership on the merchant’s website.

12. In the event that an eligible customer who has received the Membership, withdraws any sum from the Time Deposit prior to maturity of the tenor, the Bank reserves the right to debit the value of the Membership (or such other amount as it deems fit) from the customer’s Time Deposit account or any other account held with the Bank.

13. In the event that an eligible customer who has received the Membership, closes the Business$aver account or withdraws any part of the minimum sum of fresh funds per Clause 2.1 and 2.2 within the first 6 months of opening, the Bank reserves the right to debit the value of the Membership (or such other amount as it deems fit) from the customer’s Business$aver account or any other account held with the Bank.

14. Customers who qualify for the Membership will receive a notification message from the Bank, which shall state the Membership Promo Code. The notification message will be sent to their mobile number in accordance with the Consent Form records. Any request for early fulfilment of the Membership will not be granted or entertained by the Bank.

15. The membership’s validity is 6 months from the date of issuance and the expiry date will be stated in the message.

16. The Bank shall in its sole and absolute discretion determine whether the Eligibility Criteria under this Promotion have been met. Barring any unforeseen technical delays, the Membership promo code shall be given out by the 3rd week of the following month of the account opening after such determination has been made.

General Terms

17. The Promotion is not valid with other offers, privileges or promotions unless otherwise stated.

18. 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 discretion, with or without prior notice or reason. You understand and agree to be bound by any such variation.

19. The Bank reserves the right to determine at its sole and absolute discretion all matters arising out of or about the Promotion, including your eligibility for the Rate or Membership and/or Promotion. The Bank’s determination of all matters relating to this Promotion shall be final and conclusive and no correspondence will be entertained.

20. The terms and conditions of the Promotion are to be read in conjunction with our Account Terms, Standard Terms and respective Country Supplements 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.

21. A person who is not a party to these terms and conditions has no right under the Contracts (Rights of Third Parties) Act (Cap. 53B) to enforce any of the terms and conditions.

22. These terms and conditions 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.

*Fresh funds refer to funds not originating from any existing account with the Bank and funds that are not withdrawn and re-deposited within the last 30 days.

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.