Disclaimer

This is to inform that by clicking on the hyperlink, you will be leaving sc.com/sg and entering a website operated by other parties.

Such links are only provided on our website for the convenience of the Client and Standard Chartered Bank does not control or endorse such websites, and is not responsible for their contents.

The use of such website is also subject to the terms of use and other terms and guidelines, if any, contained within each such website. In the event that any of the terms contained herein conflict with the terms of use or other terms and guidelines contained within any such website, then the terms of use and other terms and guidelines for such website shall prevail.

Thank you for visiting www.sc.com/sg


Proceed

How would you like to apply?

I am NOT an existing Standard Chartered Current/Checking/Savings Account holder

*SingPass holders with a MyInfo profile can use MyInfo to automatically fill up the form. By clicking “Next”, you will be re-directed to the MyInfo portal, which is not owned or controlled by Standard Chartered Bank (Singapore) Limited or any member of the Standard Chartered Group (the “Bank”). The Bank bears no liability or responsibility over your usage of the MyInfo portal.

*Please note that MyInfo is temporarily unavailable at the stipulated downtimes:

Mon, Tues, Thurs, Fri, Sat:  5:00AM to 5:30AM. Wed: 2:00AM to 6:00AM. Sun: 2:00AM to 8:30AM

I am an existing Standard Chartered Current/Checking/Savings Account holder

    How would you like to apply?

    I am NOT an existing Standard Chartered Current/Checking/Savings Account holder

    *SingPass holders with a MyInfo profile can use MyInfo to automatically fill up the form. By clicking “Next”, you will be re-directed to the MyInfo portal, which is not owned or controlled by Standard Chartered Bank (Singapore) Limited or any member of the Standard Chartered Group (the “Bank”). The Bank bears no liability or responsibility over your usage of the MyInfo portal.

    *Please note that MyInfo is temporarily unavailable at the stipulated downtimes:

    Mon, Tues, Thurs, Fri, Sat:  5:00AM to 5:30AM. Wed: 2:00AM to 6:00AM. Sun: 2:00AM to 8:30AM

    I am an existing Standard Chartered Current/Checking/Savings Account holder

      New Risk-free rates- what does this mean for you?

      Person, Human, Electronics

      New Risk-free rates- what does this mean for you?

      Important Notice

      In line with industry wide from Interbank Offered Rates (IBOR) to the new Risk-Free Rates (RFR).

      More information

      The following RFR Benchmarks have been identified as replacements to the IBOR benchmarks used for the respective currencies:

      Currency
      RFR Benchmark
      Rate (Ticker Code)
      Administrator
      Migration Date
      GBP Sterling Overnight Index Average (SONIA) 1M ICE Term SONIA (TSRR1100) ICE Benchmark Administration (IBA)

      Link

      2nd October 2021
      CHF Swiss Average Rate Overnight (SARON) 1M SARON

      (SAR1MC)

      Six Swiss Exchange (SIX)

      Link

      4th December 2021
      EUR Euro Short-Term Rate (€STR) 1M €STR (EST.B.EU000A2QQF24.CR) European Central Bank (ECB)

      Link

      4th December 2021
      JPY Tokyo Overnight Average Rate (TONA) 30-Day TONA

      (TONA.030A)

      QUICK Benchmarks Inc. (QBS)

      Link

      4th December 2021
      USD Secured Overnight Financing Rate (SOFR) SOFR 1-month CME Term

      (SR1M)

      Chicago Mercantile Exchange Group (CME)

      Link

      In 2022
      SGD Singapore Overnight Rate Average

      (SORA)

      1M SORA Monetary Authority of Singapore

      (MAS)

      Link

      In 2022

      If you have any queries on your Wealth Lending facilities with us, please reach out to your Relationship Manager or visit our IBOR website.

      RFR Rates 

      Interest:

      • The applicable interest rate in respect of the Facilities, and each utilization, shall be determined pursuant to the disbursement instruction, the aggregate of the applicable:
      1. Margin; and
      2. Base Rate,

      and shall be payable monthly, in arrears.

      • The Bank may, from time to time as it deems fit and at its absolute discretion, review and amend the rate or rates of interest or commission stated herein by notice to you if in its opinion, there is a change in market conditions necessitating such review, and such amendment shall take effect and be binding on you from the date of the notice. Interest rates applicable to a Facility may be based on or may reference a Base Rate. If, in each case in the Bank’s reasonable opinion: (i) a Base Rate has or will be permanently or indefinitely discontinued; (ii) the methodology, formula or other means of determining a Base Rate has materially changed; (iii) a Base Rate is otherwise no longer appropriate for the purposes of calculating interest under any Facility Letter or (iv) the Bank is unable to determine a Base Rate for any other reason, the Bank may substitute such Base Rate with a standard market interest rate generally accepted, in the Bank’s reasonable opinion, in the international or domestic markets for such Facility as the appropriate successor to such Base Rate or the Bank may calculate such Base Rate with reference to any appropriate source or method as determined by the Bank.
      • (where the Base Rate is the Bank’s variable lending rate)
        • Interest in respect of the Facilities shall be charged at the existing rate as charged to your Facilities (as the Bank may in its absolute discretion determine) as determined pursuant to the disbursement instruction.
      • (where the Base Rate is BBSW, ESTR, HIBOR, SARON, CME Term SOFR, ICE Term SONIA, SORA, TONA)

      Interest in respect of the Facilities shall be charged according to the applicable Base Rate as determined pursuant to the disbursement instruction.

      The Base Rate will be computed as follows:

      1. The first pricing is based on the 1M BBSW / 1M ESTR /1M HIBOR/ 1M SARON /1M CME Term SOFR / 1M ICE Term SONIA/ 1M SORA / 30 Days TONA (as the case may be) as at the first business day of the loan disbursement month. Re-pricings are made every month, and the Base Rate for each revision shall be based on the relevant  1M BBSW / 1M ESTR / 1M HIBOR //1M CME Term SOFR / 1M ICE Term SONIA / 1M SORA / 30 Days TONA as at the previous business day of the first business day of the month to which the repricing applies, for 1M SARON, the Base Rate shall be as at 5 business days preceding the first business day of the month.
      2. If the 1M ESTR, 1M SARON, 1M CME Term SOFR, 1M ICE Term SONIA, 1M SORA, 30 Days TONA or such relevant base rate is less than zero, the Base Rate shall be deemed to be zero.
      • Unless context requires otherwise, the following expressions shall have the following meanings:

      Base Rate” means the base lending rate, as determined pursuant to the disbursement instruction.

      1M BBSW”, means the applicable Screen Rate or (where no Screen Rate is available for the Interest Period) the arithmetic mean of the rates (rounded upwards to four decimal places) quoted by the Bank to leading banks in the Australia interbank market, for the offering of deposits in Australian Dollars for 1-month; or

      1M ESTR”  (EST.B.EU000A2QQF24.CR), means the appliable Screen Rate for the 1-month compounded average of Euro Short Term Rate (ESTR) published or made available by the European Central Bank (ECB) as administrator (or any successor administrator), or following notification from the Bank, shall mean the applicable Screen Rate for the 1-month forward-looking term rate based on ESTR that has been selected or recommended by such administrator or (if that is not available) an appropriate source or method determined by the Bank; or

      1M HIBOR”, means the applicable Screen Rate or (where no Screen Rate is available for the Interest Period) the arithmetic mean of the rates (rounded upwards to four decimal places) quoted by the Bank to leading banks in the Hong Kong interbank market, for the offering of deposits in Hong Kong Dollars for 1-month; or

      1M SARON” (SAR1MC), means the appliable Screen Rate for the 1-month compounded average of the Swiss Average Rate Overnight (SARON) published or made available by the Six Swiss Exchange (SIX) as administrator (or any  successor administrator), or following notification from the Bank, shall mean the applicable Screen Rate for the 1-month forward-looking term rate based on SARON that has been selected or recommended by such administrator, or (if that is not available) an appropriate source or method determined by the Bank; or

      1M CME Term SOFR” (SR1M), means the appliable Screen Rate for the 1-month forward-looking term Secured Overnight Financing Rate (SOFR) provided by Chicago Mercantile Exchange (CME) Group Benchmark Administration Limited as administrator of the benchmark (or a successor administrator), or (if that is not available) an appropriate source or method determined by the Bank; or

      1M ICE Term SONIA” (TSRR1100), means the appliable Screen Rate for 1-month term Sterling Overnight Index Average Rate (SONIA) provided by ICE Benchmark Administration Limited (IBA) as administrator of the benchmark  (or a successor administrator), or (if that is not available) an appropriate source or method determined by the Bank; or

      1M SORA” means the appliable Screen Rate for the 1-month compounded average rate of Singapore Overnight Rate Average (SORA) published or made available by the Monetary Authority of Singapore (MAS) as administrator (or any successor administrator), or following notification from the Bank, shall mean the applicable Screen Rate for the one-month forward-looking term rate based on SORA that has been selected or recommended by such administrator, or (if that is not available) an appropriate source or method determined by the Bank; or

      30-Day TONA” (TONA.030A), means the appliable Screen Rate for the 30 day compounded average of the Tokyo Overnight Average Rate (TONA) published or made available by QUICK Benchmarks Inc. (QBS) as administrator (or any successor administrator), or following notification from the Bank, shall mean the applicable Screen Rate for the 1-month forward-looking term rate based on TONA that has been selected or recommended by such administrator, or (if that is not available) an appropriate source or method determined by the Bank.

      Margin” shall be per annum and as determined pursuant to the disbursement instruction.

      Screen Rate” means:

      1. in relation to 1M BBSW, the Bank Bill Swap Rate administered by the Australian Securities Exchange (ASX) for Australian Dollars, appearing on the ASX website (asx.com.au); or
      2. in relation to 1M ESTR, the 1-month compounded [average] rate of ESTR provided by ECB for Euros, appearing on the website ( https://sdw.ecb.europa.eu/home.do)or such other Screen Rate as notified to you by the Bank; or
      3. in relation to 1M HIBOR, the Hong Kong interbank offered rate administered by the Hong Kong Association of Banks (HKAB) for Hong Kong Dollars, appearing on the HKAB website (hkab.org.hk); or
      4. in relation to 1M SARON, the 1-month compounded average rate of SARON provided by Six Swiss Exchange (SIX) for Swiss Francs, appearing on the website (https://www.sixgroup.com/exchanges/indices/data_centre/swiss_reference_rates/compound_rates_en.html); or
      5. in relation to 1M CME Term SOFR, the 1-month compounded average rate of SOFR provided by CME for US Dollars, appearing on the website (https://www.cmegroup.com/market-data/cme-group-benchmark-administration/term-sofr.html#); or
      6. in relation to 1M ICE Term SONIA, the 1-month compounded average rate of SONIA provided by IBA for Pound Sterling, appearing on the website (https://www.theice.com/iba/risk-free-rates); or
      7. in relation to 1M SORA, the 1-month compounded average rate of SORA provided by Money Authority of Singapore (MAS) for Singapore Dollars appearing on the  website (https://eservices.mas.gov.sg/statistics/dir/DomesticInterestRates.aspx); or
      8. in relation to 30 Day TONA, the 1-month compounded average rate of TONA provided by QUICK Benchmarks Inc. (QBS) for Japanese Yen, appearing on the website (https://moneyworld.jp/page/tona.html); and

      where the agreed page is replaced or the service ceases to be available, the Bank may specify another page or service displaying the appropriate rate, or in the alternative substitute the Screen Rate with such other rate as the Bank may determine in good faith and in a commercially reasonable manner.

      Disclaimers

      Standard Chartered Bank (Singapore) Limited (“SCBSL”) is a subsidiary of Standard Chartered Bank, which is licensed to conduct banking business under the Singapore Banking Act, Chapter 19, and Standard Chartered Bank is a foreign company registered in Singapore under the Companies Act, Chapter 50. Investment products and foreign currency deposits are excluded from the coverage of Singapore’s Deposit Insurance And Policy Owners’ Protection Schemes Act 2012.

      The contents in this website are for general information only and does not constitute an offer, recommendation, solicitation to buy or sell any products or services such as securities, regulated investment agreement or collective investment scheme, amongst others. SCBSL will not accept any responsibility or liability of any kind, with respect to the accuracy or completeness of the information herein. The contents in this website are for general evaluation only and has not been prepared to be suitable for any particular person or class of persons. SCBSL makes no representation or warranty of any kind, express, implied or statutory regarding this document or any information contained or referred to herein.

      This advertisement has not been reviewed by the Monetary Authority of Singapore.