Excellent Deal: Get up to S$668 With Bonus$aver Promo – Over 6% p.a. Total Yield!

For the months of June, July and August 2024, StanChart is having big sign-up rewards for their Bonus$aver Account for those who are new to the Bonus$aver account – get as much as S$668 when you sign up for the account and commit funds in the account.

Those who own other StanChart cards or accounts can still qualify as long as they do not have any Bonus$aver account/card for the past 12 months.

Promo Details

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

Based on my understanding (please refer to terms and conditions for exact details), the sign-up promo mechanic is quite similar to previous months – sign up and deposit at least S$50,000 into the Bonus$aver account until the end of the following month:

Account Opening MonthHolding Period
June 2024Until end of July 2024
July 2024Until end of August 2024
August 2024Until end of September 2024

You should also credit your salary of at least S$3,000 to your account within the first 2 months of account opening to get further S$100 cashback.

In total, you will get S$168 cashback for accomplishing these tasks plus S$30 if you use my link above (currently unconfirmed and waiting for StanChart to update their terms and conditions, but do use it just in case). This is on top of the usual up to 3.68% p.a. interest the Bonus$aver gets when you accomplish its requirements of credit card spend, salary credit and bill payments.

Save Up Level Up

For the months of June to August 2024, the bank is also offering a “Save Up Level Up” campaign which gives you up to S$500 additional rewards when you fund certain amounts. You also get lucky draw chances to win up to S$30,000 in their lucky draw.

Funds have to be committed for 3 consecutive months. Another thing to note is that you need to be the first 1,500 each month to do so, so do it early in the month to avoid disappointment.

Registration is required and can be done here.

Committed AmountCashbackLucky Draw Chances
S$100,000S$50010
S$50,000S$2005
S$10,000S$502

Beware the debit card fee

If you are gunning for the Save Up Level Up promo, be aware that Bonus$aver debit card has a fee that is deducted some time in the end of the 2nd month or so. Though the fee was eventually waived, a few people, myself included, were ineligible for a previous Level Up promo because our committed funds fell below the required committed amount.

The fee is about S$20, so I would advise you to top up around S$30-S$50 extra just to be safe. Remember to watch out for the fee and ask for a waiver when it is incurred.

Total yield is attractive

If you fund and commit S$50,000 for 3 months as well as complete the Bonus$aver account requirements, you can expect to get the following rewards:

  • S$68 + S$100 sign-up promo
  • S$200 from committing funds for 3 months
  • 3.68% p.a. interest (roughly S$460 for 3 months)

For a period of 3 months, it is approximately 6.7% p.a. returns by my calculation. That is a really attractive yield for a bank account.

For S$100,000, the yield is about 6.4% p.a. considering the following:

  • S$68 + S$100 sign-up promo
  • S$500 from committing funds for 3 months
  • 3.68% p.a. interest (roughly S$920 for 3 months)

These are my calculations so do your own sums (and let me know if I got anything wrong).

Great promo for savings, stay tuned for more

Again, do refer to the terms and conditions when signing up. Make sure also to stay subscribed to get more updates on great deals on savings, credit cards and more!

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