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

  1. This Standard Chartered Singapore USD Business$aver (“BIZS”) Promotion 2018 is available from 24 September 2018 to 31 March 2019 (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

  1. To be eligible for this Promotion, the Business Banking customer must:
    1. Open a new USD Business$aver account within the Promotion Period by presenting and submitting to the Bank, all documents as required by the Bank for the opening of the account;
    2. Not have any existing USD Business$aver account or closed any USD Business$aver account in the past 12 months
    3. Register for the Promotion through their Standard Chartered Relationship Manager

    (collectively, points 2(a) –(c) are known as the “Eligibility Criteria”).

Promotion

  1. Customers who satisfy the Eligibility Criteria will be entitled to the following promotional interest rates if they meet the following requirements for their USD Business$aver account during the Promotion Period:
Tier Requirement Interest on Full Deposit Balances
1** Deposit and maintain fresh funds* of USD$500,000 – USD$5,000,000 into USD Business$aver account balances 1.00% p.a.**
2 Deposit fresh funds* and maintain an Average Daily Balance**** of more than USD$5,000,000 in the USD Business$aver account from the date of registration of the Promotion until the end of the Promotion Period Additional 0.80%*** p.a. on top of Tier 1

*Fresh funds refer to funds not originating from any existing account with the Bank and funds that are not withdrawn and re-deposited within the last 30 days.

**For eligible accounts, interest will be calculated and credited at the last day of every month. Interest of 1% p.a. will only be earned on days when the end-day Fresh Funds balance is at least USD$500,000 during the Promotion Period. On days where the end-day Fresh Funds balance is less than USD$500,000, the account will earn interest at the standard prevailing rates. For the avoidance of doubt, on days where a customer earns the promotional interest rate, the customer will not concurrently earn the standard prevailing interest rate.

***For eligible accounts, additional 0.80% interest will be calculated based on the Average Daily Balance from the date of registration of the Promotion until the end of the Promotion Period, aggregated and paid within 30 days after the end of the Promotion Period (31 March 2019).

****Average daily balance is equal to the sum of all end-day balances in the period divided by the total number of days in the same period.

General Terms

  1. The Promotion is not valid with other offers, privileges or promotions unless otherwise stated.
  1. 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.
  1. 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.
  1. The terms and conditions of the Promotion are to be read in conjunction with our Account Terms, Standard Terms and respective Country Supplements, (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.
  1. 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.
  1. 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.