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Standard Chartered SuperSalary Account

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Summary

Standard Chartered SuperSalary Savings Account

SuperSalary is a savings account offered by Standard Chartered Bank Singapore, to encourage users to save their salary by offering them significant returns. Earn up to 0.27% p.a. interest for first 8 months. Additionally, you will get to earn 0.20% p.a. on top of regular Time Deposits rates with Super Time Deposit

Account Features & Details

1) Key Features

  • Base interest rate of 0.01% p.a
  • New customers can enjoy bonus interest rate of 0.27% p.a on eligible incremental balances up to S$1,000,000, for the first 8 months
  • Account opening comes with a Standard Chartered Cashback debit card where you can enjoy 1% cashback on eligible Mastercard spends

2) Interest Rates

  • Base interest rate: 0.01% p.a
  • Max interest rate: 0.28% p.a 

3) Eligibility

  • Age: 18 years old and above
  • Citizenship: Singaporeans, PRs, Foreigners
  • Minimum initial deposit: N.A

4) Fees

  • Minimum average daily balance: S$0
  • Fall below fee: S$0
  • Monthly service charge: S$0
  • Early account closure: S$30 (within first 6 months)
  • Cheque book: S$10 (issued upon request only)

5) Application Process

How to apply?
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 income 
  • 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
...see more

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Summary

Standard Chartered SuperSalary Savings Account

SuperSalary is a savings account offered by Standard Chartered Bank Singapore, to encourage users to save their salary by offering them significant returns. Earn up to 0.27% p.a. interest for first 8 months. Additionally, you will get to earn 0.20% p.a. on top of regular Time Deposits rates with Super Time Deposit

Account Features & Details

1) Key Features

  • Base interest rate of 0.01% p.a
  • New customers can enjoy bonus interest rate of 0.27% p.a on eligible incremental balances up to S$1,000,000, for the first 8 months
  • Account opening comes with a Standard Chartered Cashback debit card where you can enjoy 1% cashback on eligible Mastercard spends

2) Interest Rates

  • Base interest rate: 0.01% p.a
  • Max interest rate: 0.28% p.a 

3) Eligibility

  • Age: 18 years old and above
  • Citizenship: Singaporeans, PRs, Foreigners
  • Minimum initial deposit: N.A

4) Fees

  • Minimum average daily balance: S$0
  • Fall below fee: S$0
  • Monthly service charge: S$0
  • Early account closure: S$30 (within first 6 months)
  • Cheque book: S$10 (issued upon request only)

5) Application Process

How to apply?
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 income 
  • 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
...see more

Standard Chartered SuperSalary Account

Up to 0.28% p.a. for the first 8 months
INTEREST RATES
$0
MIN. INITIAL DEPOSIT
$0
MIN. AVG DAILY BALANCE

Standard Chartered SuperSalary Account

Up to 0.28% p.a. for the first 8 months

INTEREST RATES

$0

MIN. INITIAL DEPOSIT

$0

MIN. AVG DAILY BALANCE

Reviews (3)

3.0

3 Reviews

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4
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2
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1

      08 Jul 2020

      Purchased

      Standard Chartered SuperSalary Account

      At a time of falling interest rates, this is a good choice of a bank savings account which gives you to 1.1% interest rates p.a. excluding the base rate. It gives you 24/7 access to your funds. One requires either a salary deposit or a GIRO standing order of a $1.5k per month. Do sign up during your company roadshow for more promotions!

      1

      What are your thoughts?

      I have been charged $30 monthly for clearing cheque and I don’t even have any cheque transactions!

      04 May 2021

      Purchased

      Standard Chartered SuperSalary Account

      I don’t quite find this a useful account as it kinda doesn’t really add any additional value other than the interest rate for salary credit. Will be great if there was other interest rate tiers that can be unlocked. Currently just using it as a savings account.

      0

      What are your thoughts?

      Posted 17 Aug 2023

      Purchased

      Standard Chartered SuperSalary Account

      [Others] Bombastic term. Just an ordinary low yield savings account. Please just use a simple term or name for the account.

      0

      What are your thoughts?

    Discussions (0)

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      Interest Rates for Standard Chartered SuperSalary Savings Account

      Base Interest Rate

      Bonus Interest Rate

      0.01% p.a

      0.27% p.a. (within the qualifying balance of S$1,000,000)

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

      • The base interest rate per annum for SCB JumpStart savings account is 0.01% p.a. which is slightly less than the usual 0.05% p.a.
      • To maximise the 0.28% p.a., it would be best to keep your account balance within S$1,000,000 with fresh funds.
      • Fresh funds would are defined as funds that do not originate from any existing account with SCB or funds that are not withdrawn and re-deposited.
      • While SuperSalary provides cashback on eligible card spend, they do not incentivise spending from the Savings Account to accrue extra bonus interest rates
      • Hence, SuperSalary is ideal for people who do not intend to use their supersalary account to spend, just more of a park it and leave it kind of account.

      Summary of Benefits of SCB SuperSalary Savings Account

      • Base interest rate for SuperSalary is 0.01% p.a.
      • New applicants stand to enjoy higher interest rate of 0.28% p.a. for a promotional period.
      • Post promotional period, rates will revert back to the prevailing base interest rate of 0.10% p.a.
      • No minimum deposit required
      • No minimum average daily balance required
      • No fall-below fee
      • Enjoy 1% CashBack on eligible MasterCard spend with your CashBack debit card
      • Flexibility and accessibility from online banking
      • The debit card provided has no annual fee
      • Receive a free cheque-book
      • As there is no minimum deposit required, no minimum average daily balance required or fall-below fee, SuperSalary might be attractive to those who are just starting out with a low starting income.

      Is This the Best Savings Account for You in 2022?

      • Not the best interest rates offered for savings accounts as its base interest rate is rather low at 0.01% compared to what most banks offer at 0.05% p.a. However, it is a rather simple account to attain bonus interest rates if you just credit your salary monthly into this account.
      • If you intend to spend the balance in this account, spending is not rewarded with extra bonus interest rates

      Want to know how SCB SuperSalary compares with other savings accounts? Here's a compilation of The Best Savings Accounts in 2022

      Terms and fees for SCB SuperSalary 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 SuperSalary 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 SuperSalary Account

      • Apply Online or Visit Standard Chartered Branches

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