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Savings Accounts/Standard Chartered Bonus$aver Account
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Standard Chartered Bonus$aver Account Review 2022

Bonus$aver offers a maximum total interest of up to 4.88% p.a. for your first S$100,000.

The base interest rate per annum for SC Bonus$aver Account is 0.03%.

These are the 5 types of transactions you can use to earn the bonus interest rates as well as the latest changes:

  • Card Spend: 1.61%p.a. for min spend of S$2,000
  • Salary Credit: 1.20% p.a. for no less than S$3,000 monthly salary deposit into your account via GIRO
  • Bill Payment: 0.07% p.a. for 3 eligible bill payments of minimum S$50
  • Insure: 1.00% p.a. for an eligible insurance policy with a minimum annualised premium of S$12,000
  • Invest: 1.0% p.a. for eligible unit trust with a minimum single subscription amount of S$30,000
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Standard Chartered Bonus$aver Account

Up to 4.88% p.a.

INTEREST RATES

$0

MIN. INITIAL DEPOSIT

$3,000

MIN. AVG DAILY BALANCE

Standard Chartered Bonus$aver Account

Up to 4.88% p.a.

INTEREST RATES

$0

MIN. INITIAL DEPOSIT

$3,000

MIN. AVG DAILY BALANCE

📣 SIGN-UP BONUS

Get Apple Bundle (Airpods Gen 3 + Air Tags) or S$250 Cash via PayNow when you maintain min. funds balance of S$50,000.

Valid till 02 Oct 2022. T&Cs apply.

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Reviews (13)

3.1

13 Reviews

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      Posted 03 Aug 2022

      Purchased

      Standard Chartered Bonus$aver Account

      Worst banking experience ever. When you open the account with the debit card, the annual fee is immediately charged! And they don't waive it off. So misleading and damning of this bank. And the mobile app at times will just hang with white screen upon login repeatedly. My money, your money deserve better. Already closed account and moved to better alternatives (just google and easily you'll find better saving accounts from decent banks than this crap).

      0

      What are your thoughts?

      Posted 01 Sep 2021

      Purchased

      Standard Chartered Bonus$aver Account

      I like SCB but the Bonus$aver account is not great in terms of the criteria to achieve the max interest rate. The majority of the potential interest come from the investment criteria (which only counts investments in Unit Trusts, not other investments) and insurance.

      0

      What are your thoughts?

      Posted 11 Aug 2021

      Purchased

      Standard Chartered Bonus$aver Account

      [Customer Service] Does not support enquiries after 8pm. And they do not arrange call back service at all. So you need to call in and wait till someone answers the phone. There were several times the staff just answered and hung up.. I think they are swamped/ overloaded - but that's not how you should treat customer service! [Interest] Very low interest rate to just have savings parked there. I only used the savings account to pay SCB credit card bills. But the low rates do not seem to justify the parking area. So I might be migrating the funds somewhere else with better rates. Even though I spent $20k on hospital bills for 1 month, I still didn't get good rates for the spend unlike other cards with cash backs and interest rates. [Online Banking] Not sure if they have online closure of account. Will just consolidate credit card bills with another bank to pay SCB credit card bills..

      0

      What are your thoughts?

      02 Mar 2021

      Purchased

      Standard Chartered Bonus$aver Account

      Good till 2019, you have better options post 2020.... Consider other options, yiu rec email every month on revision

      0

      What are your thoughts?

      21 Jan 2020

      Purchased

      Standard Chartered Bonus$aver Account

      Despite its name, the SCB Bonus$aver awards higher bonus interest to those that spend more, with a minimum monthly credit card spend of $2,000 required to unlock the highest bonus interest tier. [What I like] • Effective interest rate of 3.13% without requiring loans, insurance or investments • High balance cap of $100k (exceeds SDIC deposit insurance coverage) [What I don't like] • High bonus interest requires significant card spend of $2,000 a month • Bonus interest takes one month to be credited - e.g. the bonus interest for January is credited at the end of February

      0

      What are your thoughts?

      Posted 24 Dec 2019

      Purchased

      Standard Chartered Bonus$aver Account

      Good when it started. Then they started to change the terms and conditions for the bonus interest and it is no longer attractive. Will come back if it is better than their competitors

      1

      What are your thoughts?

      Which change made it no longer attractive? can elaborate?

      Posted 10 Dec 2019

      Purchased

      Standard Chartered Bonus$aver Account

      [Salary Crediting] Used bonus saver account to earn the bonus interest on my savings. Need to month keep track of my expenditure and bill payment. With the effort put in, i managed to get 2.13% per annum interest on my savings. Not bad

      0

      What are your thoughts?

      Posted 10 Dec 2019

      Purchased

      Standard Chartered Bonus$aver Account

      Great account to boost the interest for your savings at 0 risk. Some effort required though to track the expenses, bill payment. [Interest]

      0

      What are your thoughts?

      Posted 26 Nov 2019
      This saving account is no longer competitive with all their changes and other banks are offering better rates. Silly me signed for some 15 year long endowment for additional interest rates some 5 years ago, and totally regretting it now.

      0

      What are your thoughts?

      Posted 20 Nov 2019
      Used to be a pretty decent account, until they changed the TNC and made it more difficult for higher interest (this was sometime back). As compared to other local bank offerings, this account perks are not very competitive.

      0

      What are your thoughts?

    Discussions (0)

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      Exclusive Rewards

      Get Apple Bundle (Airpods Gen 3 + Air Tags) or S$250 Cash via PayNow

      • Maintained min. funds balance of S$50k (fresh or new) in Bonus$aver Account until end of calendar month immediately after the calendar month in which Bonus$aver Account is opened
      • Applicable to New-to-Product customers (i.e. must not have had a previous Bonus$aver Account and/or Bonus$aver Credit Card account suspended, cancelled or terminated in the last 12 months)
      • Valid until 2nd October 2022
      • Terms and conditions apply

      Interest Rates for Standard Chartered Bonus$aver Savings Account 2022

      Standard Chartered will be revising the interest rates for Bonus$aver savings account again

      • Card Spend: 1.61% p.a. for min spend of S$2,000
      • Salary Credit: 1.20% p.a. for no less than S$3,000 monthly salary deposit into your account via GIRO
      • Bill Payment: 0.07% p.a. for 3 eligible bill payments of minimum S$50
      • Insure: 1.00% p.a. for an eligible insurance policy with a minimum annualised premium of S$12,000
      • Invest: 1.00% p.a. for eligible unit trust with a minimum single subscription amount of S$30,000

      Criteria

      Bonus Interest Rate on your first S$100,000

      Card Spend

      1.61% p.a. for min spend of S$2,000

      Salary Credit (of at least S$3,000)

      1.20% p.a.

      Bill Payment

      0.07% p.a.

      Invest

      1.00% p.a.

      Insure

      1.00% p.a.

      Total Interest on eligible balance

      4.88% p.a.

      Latest Standard Chartered BonusSaver Interest Rates

      How does Standard Chartered Bonus$aver work?

      BonusSaver is a high-interest savings account by Standard Chartered Singapore, SCB.

      Depositing money into your BonusSaver account while engaging in any one of the eligible categories will help you earn bonus interest rates on top of the base interest rate:

      • Monthly Card Spend on qualifying Standard Chartered debit or credit cards
      • Monthly Salary Crediting via GIRO
      • Bill Payments - At least 3 monthly GIRO payments of bills of at least S$50 each
      • Buying Insurance - policies of regular premium life insurance policy underwritten by Prudential with a minimum annual premium of S$12,000
      • Investing with Standard Chartered - in eligible unit trust with a minimum subscription sum of S$30,000

      Bonus interest is calculated at the end of each calendar month, based on the daily average balance in your Bonus$aver account. Interest will be credited 1 month after the transaction upon full payment of your credit card spend.

      You can check out Standard Chartered BonusSaver page for their BonusSaver Calculator.

      How to Maximise Interest Rates for SC Bonus$aver Savings Account?

      The highest interest rate accruable is 4.88% p.a. To achieve this, the bonus interest rates per annum for SC Bonus$aver savings account comes with a few criteria:

      1. Minimum monthly spend required on eligible debit or credit card for bonus interest:

      • Card spend S$2,000 and above for bonus interest of 1.61%

      2. Salary Crediting

      • Credit salary of at least S$3,000 to enjoy bonus interest of 1.20%

      3. GIRO Payments of Bills

      • Pay 3 bills of at least S$50 each to enjoy a bonus interest of 1.00%

      4. Insure

      • Buy an eligible insurance policy with a minimum annual premium of S$12,000 to enjoy 0.90% bonus interest (previously combined with Insure category)

      5. Invest

      • Buy at least S$30,000 worth of unit trusts to enjoy 1.00% bonus interest (previously combined with Invest category)

      *Bonus interest is only applicable to the first S$100,000 of your account balance.

      Terms and Fees for SC BonusSaver Account

      • Minimum Initial deposit: S$0
      • Minimum Balance: S$3,000 (average daily)
      • Fall below fee: S$5 (chargeable if the minimum average daily balance falls below S$3,000)
      • Early closure fee: S$30 if less than 6 months

      Eligibility: Who can Apply?

      Singaporeans, Permanent Residents, and Foreigners

      • for BonusSaver account and BonusSaver Debit Card: at least 18 years old

      How to Apply for the BonusSaver Account?

      • Apply online (available with or without the usage of MyInfo), OR
      • Visit a Standard Chartered branch

      Contact Standard Chartered Bank Singapore

      • Tel: +65 6747 7000
      • Live Chat Messenger Service on their website

      Contact us at [email protected] should you require any assistance or spot any inaccuracies.

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