Here is an excellent savings deal if you do not have a StanChart savings/current account and have not cancelled one in the past 12 months: get as much as 5% p.a. interest for 6 months on S$200,000 to S$500,000. For deposits of S$500,000, you also get S$1,500 of sign-up reward.
You have to sign up for Wealth$aver with the link below and qualify as a Priority customer by depositing at least S$200,000.
Standard Chartered Wealth$aver
Until 31st March 2023
A new-to-bank customer is defined as an individual without a Deposit Relationship with the bank in the past 12 months.
|Join StanChart Priority Banking and get Wealth$aver as a new-to-bank customer with minimum S$200,000 deposit||–|
|Deposit S$500,000 within 3 months of account opening||Get S$1,5001|
|Interest for first 6 months for new deposit clients = 2% base interest + 3% bonus interest2||5% interest!|
|Spend on Wealth$aver metal debit card||Unlimited 1% cashback|
|Tap here to fill up Google Form||To monitor and keep track of referral|
|Total||Up to S$1,500 cash reward + S$12,500 interest (5% p.a. on $500,000 for 6 months)|
These are for reference only. Check below for specific terms and conditions
5% p.a. is an excellent rate for a savings account where you maintain full liquidity of your funds, and there are no conditions like salary or credit card spend to achieve this rate. Most bank accounts require you to complete conditions and cap the higher rates to the first S$100,000.
The 5% rate is achieved by a 2% p.a. base rate of the Wealth$aver account and a 3% p.a. bonus rate given for 6 months. The bonus rate applies to a maximum of S$500,000, and that is the sweet spot since you get additional S$1,500 for depositing S$500,000.
Otherwise, even S$200,000 deposit is enough for 5% p.a. interest which is actually relatively hard to come by despite the current high interest rate environment. You even get a swanky metal debit card, if that’s your kind of thing.
If you don’t have S$200,000, there are still other accounts you can look at:
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