Standard Chartered JumpStart Account Reviews and Comparison - Seedly
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Standard Chartered JumpStart Account

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  • Reviews (688)
  • Questions (0)
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Savings Accounts/Standard Chartered JumpStart Account
Savings Accounts/Standard Chartered JumpStart Account

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USER RATINGS

Customer Support

4.8

Ease of online banking

4.8
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Standard Chartered JumpStart Account

Up to 1% p.a.
INTEREST RATES
None
MIN. INITIAL DEPOSIT
None
MIN. AVG DAILY BALANCE

    Standard Chartered JumpStart Account

    Up to 1% p.a.
    INTEREST RATES
    None
    MIN. INITIAL DEPOSIT
    None
    MIN. AVG DAILY BALANCE

Details

Standard Chartered SCB JumpStart Savings Account Review

* UPDATE The popular Standard Chartered SCB JumpStart Savings Account is changing its interest rates. The exclusive and highly attractive 2.00% p.a. for young adults will be halved to 1.00% p.a. from 1 July 2020 onwards

  • JumpStart is a popular savings account scheme targetted at 18 to 26-year-old young adults.
  • As of 1 July 2020, get 1.00% p.a. for your first S$20,000. Previously, Jumpstart offered a high prevailing interest rate of 2.00% p.a.
  • Any incremental balance above S$20,000 will lower the interest rate to 0.10% p.a.
  • No minimum deposit
  • Standard Chartered JumpStart is one of the best savings accounts in Singapore especially for young adults.
  • The interest rate is one of the most competitive for savings accounts.
Read More about Standard Chartered JumpStart Account
Reviews (688)

4.9

688 Reviews

  • 5
    630
  • 4
    47
  • 3
    5
  • 2
    2
  • 1
    4

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Most HelpfulMost RecentLow to HighHigh to Low
  • Updated 12h ago

    Purchased

    Standard Chartered JumpStart Account

    Ever since the interest rates got slashed, I think Jumpstart account has become a less attractive place to park your monies as compared to other alternatives such as Singlife. However, it still offers a good and safe place for people wishing to put their money there after maxing out the 10k figure in Singlife. I personally look forward to when Standard Chartered will review and increase interest rates in the future! [Interest]
    0 comments
    0
    Post
  • Updated 5d ago

    Purchased

    Standard Chartered JumpStart Account

    [Application Process] Process to apply for an account online was fuss-free and easy. [Interest] Suitable for students or fresh grads, offering 1% interest rate and 1% cashback on spending as well [Customer Service] Customer service was easy to reach and helpful to resolve any issues faced
    0 comments
    2
    Post
  • Updated 6d ago

    Purchased

    Standard Chartered JumpStart Account

    [Fuss Free] awesome savings account for fresh grad to park their emergency savings as the interest rate is 1% without jumping any hoops. the UI of the app is also very clean and interactive and with the recent app update you can see the inflow and outflow of your cash in the bank. 10/10 would recommend to fresh grad to open jumpstart account
    0 comments
    5
    Post
  • Updated 6d ago

    Purchased

    Standard Chartered JumpStart Account

    [Customer Service] Very good service, will love to ask the staff again. Thanks a lot, 10/10 recommended. good good come
    1 comment
    1
    Brian Chong
    Brian Chong

    6d ago

    Hi there, Thank you for leaving a review on Seedly to help our users make smarter financial decisions! However, your review has been flagged as Unsubstantial. We would appreciate it if you were able to elaborate more on the user experience on the product you had left a review for, in order to better help other users. Examples would also be a big help in helping you demonstrate your experience with the product! Don't forget to use word prompts to help you achieve this while also making your review a quality review on Seedly! Thanks!
    Post
  • Updated 1w ago

    Purchased

    Standard Chartered JumpStart Account

    Fuss-free and easy to apply for the account online. 1%pa interest rate, used to be 2% before covid. Also, it comes with a debit card with 1% cashback on all spending!
    0 comments
    2
    Post
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Interest Rates for Standard Chartered JumpStart Savings Account

Account Balance

Prevailing Interest Rate

First S$20,000

1. 00% p.a. with effect from 1 July 2020
(previously 2.00% p.a.)

Any incremental balances above S$20,000

0.10% p.a.

The prevailing interest rates for JumpStart Account

How to maximise the interest rate for SCB JumpStart Savings Account?

  • The interest rate per annum for SCB JumpStart savings account is 1.00% p.a. for account balances up to S$20,000, all year round.
  • To maximise the 1.00%p.a., it would be best to keep your account balance within S$20,000

Is JumpStart the Best Savings Account for you in 2020?

UPDATE:

With the latest series of changes to savings accounts' interest rates, we believe that the benefits of savings accounts will be highly limited, Standard Chartered's JumpStart included.

We are anticipating many other savings accounts to follow suit. As such, we will hold off making verdicts until the dust has settled.

(The assessment below is based on rates prior to the 1 July 2020 rate revision)

Pros

  • There is flexibility in accessing funds anytime
  • Competitive interest rates
  • It comes with a debit card, that offers up to 1.00% p.a. cashback on eligible spend. with no monthly or annual fees.
  • Convenient and fuss-free online application process
  • Standard Chartered JumpStart is one of the best savings accounts in Singapore, especially for young adults.
  • The interest rate is one of the most competitive for savings accounts.

Cons

  • Does not incentivise spending
  • Only available for a very narrow age range of 18-26 years olds

Want to know how SCB JumpStart compares with other savings accounts? Here's a compilation of The Best Savings Accounts in 2020

Terms and fees for SCB JumpStart Savings Account

  • Initial deposit: None
  • Minimum Average Daily Balance: None
  • Fall below fee: Free
  • Early closure fee: Free

Eligibility: who can apply for the JumpStart Account?

  • Citizenship status: Singaporeans and PRs with a valid SingPass
  • Age range: 18 - 26

How to apply for SCB JumpStart Account