1. This Exclusive USD Time Deposit 2023 Promotion (“Promotion”) is available from 01 September 2023 to 30 September 2023 (both dates inclusive) (“Promotion Period”) to existing Priority Banking or Priority Private Banking 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.

Eligibility

2. To be eligible for this Promotion:
   1. you have received an electronic direct mailer and/or telemarketing call from the Bank, during the Promotion Period, notifying you of the Promotion and inviting you to participate in the Promotion (“Promotion Invitation”). For the avoidance of doubt, the Promotion Invitation is non-transferable and only existing customers who have received a Promotion Invitation from the Bank are eligible for this Promotion;
   2. you must successfully place a minimum sum of US$200,000 in Fresh Funds (as defined below) into a 1-month or 3-month US Dollar Time Deposit (“Time Deposit”), with the Bank during the Promotion Period. Each client may only place a maximum of US$500,000 under this Promotion at the Promotional Rate;
   3. you must be one of the first 300 clients to successfully place the Time Deposit under this Promotion during the Promotion Period, as determined by the Bank in its sole and absolute discretion. Your application for the Time Deposit must be made through an instruction to your Relationship Manager; and
   4. 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“Fresh Funds” refer to funds that do not originate from any existing account with the Bank and funds that are not withdrawn and re-deposited within the last 30 days of opening your Time Deposit.

3. Subject to these terms, if you satisfy the eligibility criteria stipulated in Clause 2, you will earn the promotional interest rate corresponding to an eligible tenure as set out in Table 1 below (each such rate to be referred to as a “Promotional Rate”) on the sum in Fresh funds that you had placed in the Time Deposit during the Promotion Period.

4. The Promotional Rate is only applicable if the Time Deposit is held until the maturity of the tenure. 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 tenure.
5. Any the renewal upon maturity of the Time Deposit at the option of the account holder will be based on the Bank’s prevailing US Dollar Time Deposit board rate for the same tenure.

6. For the avoidance of doubt, a premature upliftment handling fee of USD25 applies on the Time Deposit when the Time Deposit is withdrawn before the maturity date. Any interest payable on the Time Deposit will be calculated at our sole discretion at the point of withdrawal. In some circumstances, you may not receive any interest at all or may receive an amount less than the original Time Deposit placement amount upon premature withdrawal of the Time Deposit. Please refer to the Bank’s website and pricing guide for the applicable penalty fees and charges on any premature upliftment of a foreign currency time deposit.
7. For the purposes of this Promotion, the Bank may refresh or change the tenure and Promotional Rate from time to time.

General

8. Unless otherwise stated, this Promotion is not valid with other offers, discounts, rebates, vouchers, privileges or promotions.
9. The Bank may vary, modify, add, delete or otherwise revise any of the terms and conditions governing the Promotion, including to vary the tenure and/or Promotional Rate, or to terminate, withdraw, extend, suspend or shorten the Promotion at any time at the Bank’s sole discretion, with or without prior notice or reason (and the Bank shall not be obliged to disclose its reason). You agree and consent to be bound by any such variation.
10. 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 the interest rate for the Time Deposit, your eligibility for the 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, binding and conclusive and no correspondence will be entertained.
11. These Exclusive USD Time Deposit 2023 Promotion Terms and Conditions are to be read in conjunction with the Bank’s Customer Terms, Priority Banking Services and Privileges International Terms and Conditions and Current/Cheque/Savings Account and Time Deposit Terms (collectively, “Standard Terms”). If there is any inconsistency between the Standard Terms and these terms, these terms shall prevail to the extent of such inconsistency.
12. In the event of any inconsistency between these terms and conditions and any brochures, marketing or promotional materials relating to the Promotion, these terms and conditions shall, to the extent of such inconsistency, prevail.
13. 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 these terms and conditions.
14. 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.
15. All information is accurate as the date of publication.

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