Standard Chartered e$aver Savings Account
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Summary
Standard Chartered e$aver Savings Account Reviews 2024
Account Features & Details
1) Key Features
- Base interest rate of 0.05% p.a
- Earn bonus interest on your incremental balances subject to a cap of S$1,000,000 per qualifying account
- Trade online with Standard Chartered and get access to up to 15 stock exchanges globally at brokerage fees from 0.15% at no custody fees
- Remit money online to more than 10 countries at zero transfer charge and 0% FX costĀ
2) Interest Rates
- Base interest rate: 0.05% p.a
- Max interest rate: 2.00% p.a
3) Eligibility
- Age: 18 years old and above
- Citizenship: Singaporeans, PRs, and Foreigners
- Minimum initial deposit: N.A
4) Fees
- Minimum average daily balance: S$1,000
- Fall below fee: S$5
- Early account closure fee: S$5
- Counter transaction: S$5 per cash transaction
5) Application Process
How to apply?
- Apply online through Standard Charteredās website
Supporting documents
- No documents required for existing Standard Chartered Credit Card holders (for Singaporeans, PRs, and Foreigners) unless there is a change in your annual incomeĀ
- New Singaporeans and PRs customers
- NRIC (back and front)
- Latest computerised payslip or 6 months CPF Contribution History Statement
- Latest Tax Notice of Assessment (NOA) to be considered for a higher loan amount
- Required identification and income documents can be accessed through Singpass MyInfo - New Foreigner customers
- Copy of passport (at least 6 months validity)
- Copy of Employment Pass
- Latest utility bill/rates bill/taxt bill/bank statement/credit card statement
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Summary
Standard Chartered e$aver Savings Account Reviews 2024
Account Features & Details
1) Key Features
- Base interest rate of 0.05% p.a
- Earn bonus interest on your incremental balances subject to a cap of S$1,000,000 per qualifying account
- Trade online with Standard Chartered and get access to up to 15 stock exchanges globally at brokerage fees from 0.15% at no custody fees
- Remit money online to more than 10 countries at zero transfer charge and 0% FX costĀ
2) Interest Rates
- Base interest rate: 0.05% p.a
- Max interest rate: 2.00% p.a
3) Eligibility
- Age: 18 years old and above
- Citizenship: Singaporeans, PRs, and Foreigners
- Minimum initial deposit: N.A
4) Fees
- Minimum average daily balance: S$1,000
- Fall below fee: S$5
- Early account closure fee: S$5
- Counter transaction: S$5 per cash transaction
5) Application Process
How to apply?
- Apply online through Standard Charteredās website
Supporting documents
- No documents required for existing Standard Chartered Credit Card holders (for Singaporeans, PRs, and Foreigners) unless there is a change in your annual incomeĀ
- New Singaporeans and PRs customers
- NRIC (back and front)
- Latest computerised payslip or 6 months CPF Contribution History Statement
- Latest Tax Notice of Assessment (NOA) to be considered for a higher loan amount
- Required identification and income documents can be accessed through Singpass MyInfo - New Foreigner customers
- Copy of passport (at least 6 months validity)
- Copy of Employment Pass
- Latest utility bill/rates bill/taxt bill/bank statement/credit card statement
Standard Chartered e$aver Savings Account
Standard Chartered e$aver Savings Account
Up to 1.50% p.a.
INTEREST RATES
$0
MIN. INITIAL DEPOSIT
$1,000
MIN. AVG DAILY BALANCE
Reviews (1)
5.0
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Posted 11 Aug 2024
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Standard Chartered e$aver Savings Account
[Fuss Free] - No fees - No lock-in period - Minimum average daily balance of $1000 required - Fall-below fee of $5 (monthly) - No requirement for salary crediting [Application Process] Easy and simple, took less than 10 minutes to apply via Singpass [Interest and Cashback] Calculated and credited at the end of each month with no hoops [Online Banking] App is easy and straightforward to use [Overall] Recommended for anyone looking for a savings account offering promotional high-interest rates without having to jump through multiple hoops. Note that the promotional high-interest rates tend to change every 2 months, and must be incremental fresh funds Incremental fresh funds are funds that do not originate from any existing account with Standard Chartered or funds that are not withdrawn and re-deposited within 30 days of the Promotion Period. The promotional high-interest rates are applied for deposit balance of S$2 million with no lock-in period for the incremental fresh funds, and are compared against the previous month's average daily balance0
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Interest Rates for Standard Chartered eSaver Savings Account
Deposit Balance Tier | Prevailing Interest Rate on Deposit Balance | Bonus Interest Rate on Eligible Incremental Balance | Total Interest Rate on Eligible Incremental Balance (up to 1 mil) |
|---|---|---|---|
All balances | 0.05% p.a. | 1.45% p.a. | 1.50% p.a. |
How does Standard Chartered eSaver work?
And how do you maximise the interest rate for SCB eSaver Savings Account?
- Base interest rate for e$aver is 0.05% for all amounts of account balances
- Earn extra bonus interest of 1.45% p.a. on your eligible incremental balances
- Bonus rates are only eligible for deposits of fresh funds only
- The additional bonus interest rate is only compounded on the difference in average daily balance, not your entire account balance
- To be eligible for the bonus interest rates on top of the base, account holders should :
i. deposit fresh funds i.e. salary
ii. ensure the average daily account balance is higher than the previous month's - To maximise the bonus interest rates, it would be best to be a new eSaver Savings Account applicant
- Additionally, ensure your average daily balance for the current month is higher than the previous month's, as only the incremental difference is subjected to the bonus interest rates.
- Increments have to be made by fresh funds, which are defined as funds that do not originate from any existing account with SCB or funds that are not withdrawn and re-deposited.
Terms and fees for SCB eSaver Savings Account
- Initial deposit: None
- Minimum Average Daily Balance: None
- Fall below fee: Free
- Early closure fee: S$30
- Monthly CashBack is capped at S$60 per Account
Eligibility: who can apply for the e$aver Savings Account?
- Citizenship status: Singaporeans, Permanent Residences, and Foreigners with a valid employment pass
- Age requirement: 18 years old and above
How to apply for SCB e$aver?
- Apply Online via Standard Chartered eSaver website or Visit Standard Chartered Branches
- Contact Standard Chartered Bank Singapore:
Contact us at [email protected] should you require any assistance or spot any inaccuracies.
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