Standard Chartered JumpStart Account
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Summary
Standard Chartered JumpStart Savings Account
JumpStart is a popular, fuss-free savings account suitable for youths and young adults between 18 to 26 years old.
Account Features & Details
1) Key Features
- Earn 0.50% p.a base interest on account balance on your first S$20,000
- Earn 2.00% p.a interest on deposit balances of up to S$20,000
- Enjoy additional step-up interest of 0.50% p.a interest on account balances of up to S$20,000 and when you invest with Standard Chartered (category 1 or 2):
- Wealth Quest Category 1: Invest in Unit Trusts or Regular Savings Plan
- Wealth Quest Category 2: Invest in Equities - Enjoy 1% cashback on eligible debit card Mastercard spends capped at S$60 per month
- No minimum deposit balance
2) Interest Rates
- Max interest: 2.50% p.a.
- Base interest: 2.00% p.a. for balances up to S$50,000.
- Step-up interest: 0.50% p.a. for balances up to S$50,000.
3) Eligibility
- Age: Between 18 to 26 years old
- Citizenship: Singaporeans, PRs, and Foreigners
- Minimum initial deposit: N.A
4) Fees
- Minimum average monthly balance: S$0
- Fall below fee: S$0
- Monthly account fee: S$0
5) Application Process
How to apply?
- Apply online through Standard Chartered’s website or in person at any branch
Supporting documents
- Online application with MyInfo: No documents required
- In person
- NRIC (for Singaporeans or PRs)
- Passport / Employment Pass/ Long-term Pass/ Student Pass (for foreigners)
- 3 months’ utilities bills/ 3 months bank statement/ Telco bill/ Tenancy agreement/ Government-issued document stating proof of address
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This product has not been claimed by the company yet.
Summary
Standard Chartered JumpStart Savings Account
JumpStart is a popular, fuss-free savings account suitable for youths and young adults between 18 to 26 years old.
Account Features & Details
1) Key Features
- Earn 0.50% p.a base interest on account balance on your first S$20,000
- Earn 2.00% p.a interest on deposit balances of up to S$20,000
- Enjoy additional step-up interest of 0.50% p.a interest on account balances of up to S$20,000 and when you invest with Standard Chartered (category 1 or 2):
- Wealth Quest Category 1: Invest in Unit Trusts or Regular Savings Plan
- Wealth Quest Category 2: Invest in Equities - Enjoy 1% cashback on eligible debit card Mastercard spends capped at S$60 per month
- No minimum deposit balance
2) Interest Rates
- Max interest: 2.50% p.a.
- Base interest: 2.00% p.a. for balances up to S$50,000.
- Step-up interest: 0.50% p.a. for balances up to S$50,000.
3) Eligibility
- Age: Between 18 to 26 years old
- Citizenship: Singaporeans, PRs, and Foreigners
- Minimum initial deposit: N.A
4) Fees
- Minimum average monthly balance: S$0
- Fall below fee: S$0
- Monthly account fee: S$0
5) Application Process
How to apply?
- Apply online through Standard Chartered’s website or in person at any branch
Supporting documents
- Online application with MyInfo: No documents required
- In person
- NRIC (for Singaporeans or PRs)
- Passport / Employment Pass/ Long-term Pass/ Student Pass (for foreigners)
- 3 months’ utilities bills/ 3 months bank statement/ Telco bill/ Tenancy agreement/ Government-issued document stating proof of address
Standard Chartered JumpStart Account
2.00% p.a. for balances up to $20,000
INTEREST RATES
$0
MIN. INITIAL DEPOSIT
$0
MIN. AVG DAILY BALANCE
Standard Chartered JumpStart Account
2.00% p.a. for balances up to $20,000
INTEREST RATES
$0
MIN. INITIAL DEPOSIT
$0
MIN. AVG DAILY BALANCE
4.8
773 Reviews
Service Rating
Customer Support
Ease of online banking
Most Helpful
- Posted 1d ago
Purchased
Standard Chartered JumpStart Account
[Interest] As a student with a full-time income, it's one of the better places you can keep your money growing (2%) while keeping it liquid at the same time. [Online Banking] Not the most user-friendly app compared to other finance apps but I use this account to keep my emergency savings so I don't access the app much anyway.0
What are your thoughts? - Posted 4d ago
Purchased
Standard Chartered JumpStart Account
[Online Banking] [Online Banking] efOCJnawlcjbalkSJBCJashdbcjlsadhbckajshCB asjlhbcx ajkshc xahsx ahjXBAjxhbaKJXBajkxb ajHXB ajxhbajXBHajhxbaJXHBajxhbaJXHBajxbhaJXHBajhbaJHBajhbaJBa0
What are your thoughts? - Posted 5d ago
Purchased
Standard Chartered JumpStart Account
[Online Banking] Not so sure it's easy to use i would say that i needs more modern design maybe but overall idea i like it a lot.0
What are your thoughts? - Posted 5d ago
Purchased
Standard Chartered JumpStart Account
[Customer Service] This has worked for me really well i think it's a very good website tbhThis has worked for me really well i think it's a very good website tbhThis has worked for me really well i think it's a very good website tbhThis has worked for me really well i think it's a very good website tbhThis has worked for me really well i think it's a very good website tbhThis has worked for me really well i think it's a very good website tbh0
What are your thoughts? - Posted 5d ago
Purchased
Standard Chartered JumpStart Account
Yes good bank it was helpful for me to work with them and i think i will use it again but not sure about the customer support it takes time to wait until they respond.0
What are your thoughts? - Posted 13d ago
Purchased
Standard Chartered JumpStart Account
Very good account that lets students/young adults earn high interest rates (2%/annually), which is better than lots of bank accounts out there. Highly recommended!0
What are your thoughts? - Posted 23d ago
Purchased
Standard Chartered JumpStart Account
Ease of Applying for the account, Interest rates are quite good. customer service staff is alright in answering questions. Mobile App easy and straightforward0
What are your thoughts? - Posted 02 Mar 2023
Purchased
Standard Chartered JumpStart Account
Overall, it is a very good bank. I would definitely recommend this bank to many Singaporeans who do not know how to diversify and amalgamate their portfolio through fixed deposit services.0
What are your thoughts? - Posted 27 Jan 2023
Purchased
Standard Chartered JumpStart Account
TLDR; apply this account before you are 27. [Application Process] This was my first interaction with stanchart bank when i started to work. The application process was fussfree with singpass! [Interest] 2.00% interest for first 20k with no lock up periods, works like a normal bank account. No minimum deposits or fall below fee if account is inactive. That means that if you find other better money making opportunities, you can keep the account open! This rate work even after you are 26 yo! Which means that you can continue using it for however long you like! [Others] There is a debit card that will be issued too. Pretty good tbh0
What are your thoughts? - Posted 01 Dec 2022
Purchased
Standard Chartered JumpStart Account
[Application Process] Quick application with a fuss-free interest rate of 2% p.a.! Great place to park my emergency funds.0
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Standard Chartered JumpStart Savings Account
JumpStart is a simple and high-interest savings account that offers a Base interest rate of 2.00% pa and Step-Up interest rate of 0.50% pa if you invest (refer to JumpStart Step Up Interest Terms & Conditions on Standard Chartered's website), for account balances up to S$20,000, all year round.
Interest Rates for Standard Chartered JumpStart Savings Account
Account Balance | Prevailing Interest Rate |
|---|---|
First S$20,000 | 2.00% p.a. |
Step up interest on deposit balances up to $20,000 when you invest | 0.50% p.a. |
Prevailing Interest Rates for JumpStart Account
How to Maximise the Interest Rate for SCB JumpStart Savings Account?
The coolest thing about the SCB JumpStart savings account is that it is fuss-free.
You don't have to credit your salary, spend anything on SCB credit cards, take on a home loan, or even buy insurance policies and invest in a unit trust just to get the interest.
All you have to do is deposit any amount of money in your account, and you'll be able to enjoy the 2.00% p.a. interest all year round.
Even though that's higher than the average bank account's standard 0.05% p.a., you might still wanna consider putting your money somewhere else to really maximise your returns.
Is JumpStart the Best Savings Account for You in 2022?
Prior to the interest rates revisions, the JumpStart is a fuss-free savings account that is easy to recommend.
As long as you're within the age range, it's a no-brainer since it gives a 2.00% p.a. interest without you having to do anything at all.
Pros
- There is flexibility in accessing funds anytime (no minimum balance or fall-below fee charged)
- 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. Monthly cashback is capped at S$60 per account (which is linked as the primary account to the Cashback debit card).
- Convenient and fuss-free online application process
Cons
- Does not incentivise spending or other transactions to get more bonus interest
- Only available for a very narrow age range of 18-26 years olds. Past 26 years old, only existing account holders will be able to continue receiving the prevailing interest rates.
It is still a fuss-free savings account worth considering because you don't need to do anything in order to qualify for the interest. You literally just deposit your money in the account and let it grow.
Considering that most savings account require you to jump through a few hoops or at least deposit a monthly salary, the JumpStart account is worth keeping if you're currently own it.
Because you can continue to maintain the account and its interest rates even after you turn 27 year old.
Just wait till the economy improves and the interest rates are restored, and the JumpStart account will easily triumph most savings accounts out there.
Terms and Fees for SCB JumpStart Savings Account
- Initial deposit: None
- Minimum Average Daily Balance: None
- Fall below fee: None
- Early closure fee: None
Eligibility: Who Can Apply For the SCB JumpStart Account?
- Citizenship status: Singaporeans and PRs with a valid SingPass
- Age range: 18 - 26
How to Apply for SCB JumpStart Account
- Apply Online via Standard Chartered's website or Visit any Standard Chartered branch to apply in person
Contact us at [email protected] should you require any assistance or spot any inaccuracies.
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