Excellent Deal: Get S$368 Cashback With Bonus$aver Account Welcome Offer!

Update: promo has been updated and extended until 30th April 2024. See sign-up box below for new promo

StanChart is running a brand new promo for its Bonus$aver account – get as much as S$368 cashback to fatten your savings kitty for the new year with the Lunar New Year welcome offer.

Don’t forget also that the Bonus$aver can give you as much as 4.13% to 4.88% p.a. interest without buying investment or insurance products.

Promo details

Step 1: Sign up
To get this deal, sign up for Bonus$aver account and credit card as a new-to-product customer. Essentially, if you don’t have a Bonus$aver account and card in the last 12 months, you can qualify for this promo. This is true even if you have other accounts or credit cards with Standard Chartered.

Step 2: fill up Google Form
I have a limited number of referrals per account so filling up the form helps me to keep track and make adjustments accordingly. For using my referral code to sign up, you will also get 1 credit to obtain a finhack to be shared in the near future 😉

Step 3: Deposit
Thereafter, deposit S$50,000 fresh funds after account opening and maintain it until the end of the following month. This will get you S$288 cashback.

Step 4: Credit salary
Also, credit your monthly salary of at least S$3,000 via GIRO to the account within 2 months of account opening to get another S$80.

Standard Chartered Bonus$aver

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Until 31st August 2024 (promo by StanChart)

A new-to-Bonus$aver customer is defined as someone who must not have had a previous Bonus$aver Account and/or Bonus$aver Credit Card account suspended, cancelled or terminated in the last 12 months. Other StanChart cards/accounts do not affect your eligibility for Bonus$aver promo.

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Don’t have a StanChart Credit Card yet? Make sure you sign up for a StanChart Credit Card first to enjoy the credit promo, then sign up for Bonus$aver to enjoy both promos. The order matters!

StepsReward
Sign up for Bonus$aver Account + Bonus$aver Credit Card as a new-to-product customer (use code 59642 if required)Get S$30 referral reward for using this link (at the moment unconfirmed; waiting for bank to update T&Cs but do use the code just in case)
Tap here to fill up Google FormTo monitor and keep track of referral + 1 credit towards any existing finhack
Deposit and maintain minimum S$50,000 of fresh funds until the end of following month (i.e. 30th June 2024 if account is opened in May 2024)S$68 cashback¹
Credit a minimum of S$3,000 monthly salary into your Bonus$aver account within 2 monthsS$100 cashback¹
Optional: be first 1,500 each month to commit S$10,000, S$50,000, or S$100,000 fundsS$10,000: S$50 cashback²

S$50,000: S$200 cashback²

S$100,000: S$500 cashback²

These are for reference only. Please refer to terms and conditions:

  1. Bonus$aver sign-up promo
  2. Save Up Level Up Promo

⚠️ Sign up for a StanChart credit card first

If you don’t own a StanChart card for at least the past 12 months, you should definitely sign up for one first to enjoy the credit card welcome gift before getting this deal. This Bonus$aver promo requires you to apply for the Bonus$aver credit card which will take away your new-to-StanChart cardholder status.

What’s the yield?

Assuming you open the account in February, immediately fund the account with S$50,000 and withdraw the money after 31st March 2024, S$368 on S$50,000 represents more than 7% p.a. annualised returns! Note that this is on top of the interest rates you can get from your Bonus$aver account.

I managed to get 4.13% p.a. pretty easily for my December balance by meeting the bill payment, salary, and card spend requirements on my S$100,000 balance. In January 2024, I increased my card spend to S$2,000 using CardUp and got 4.88% p.a. in a very fuss-free manner:

Great deal to start a Bonus$aver account

in my review of Bonus$aver, I mentioned that there are a few people who will find Bonus$aver more suitable for their needs than UOB One. With the generous sign-up offer that pushes your yield up significantly, this is definitely something worth putting your cash savings in for at least a couple of months.

I intend to do up a guide on completing the various requirements of Bonus$aver soon, so stay subscribed for such content and more great deals.

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