Great Savings Deal: Get Up to S$600 of Welcome Gifts For Bonus$aver and More Cashback

Until 14th January 2024, apply for Bonus$aver as a new-to-product customer, fulfil a few requirements and get very compelling gifts and returns:

  • realistic 4.13% p.a. interest
  • up to S$550 + S$50 worth of welcome gifts and cashback
  • up to additional S$500 cashback
  • lucky draw chances to win S$3,000 to S$20,000 of prizes

These are a combination of multiple promos going on and looking through the details and I’ve found that they’re certainly compelling.

“New-to-product” means that new or existing StanChart customers can qualify for this promo as long as they do not have an existing Bonus$aver account and/or Bonus$aver credit card or cancelled any in the past 12 months.

Promo details

Standard Chartered Bonus$aver

Tap Referral Sign Up

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Until 30th February 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
Tap here to fill up Google FormTo monitor and keep track of referral + get 1 credit to obtain a future finhack
Deposit and maintain minimum S$50,000 of fresh funds until the end of following month (i.e. 31st March 2024 if account is opened in February 2024)S$188 cashback²
Optional: credit a minimum of S$3,000 monthly salary into your Bonus$aver account within the first two months of opening your Bonus$aver Account through GIRO with Purpose Code “SALA”S$100 cashback²

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

  1. Bonus$aver sign-up promo

Realistic 4.13% p.a. for S$50,000 on top of sign-up offers

I reviewed the Bonus$aver earlier this year and found it pretty decent even when compared to accounts like UOB One. With easy requirements like salary crediting, spend, and bill payments met, the account can give 4.13% p.a. interest which is pretty decent.

All you need to do is:

  • credit your salary of at least S$3,000 (2.50% p.a.)
  • use the Bonus$aver credit card to spend at least S$500 within a month (1.30% p.a.)
  • make 3 bill payments of at least S$50 within a month (0.33% p.a.)

For a S$50,000 balance, you can get around S$340 of interest in 2 months. The 4.13% p.a. rate applies up to a maximum of S$100,000.

Reward 1: S$450 suitcase + S$100 cashback

If we factor in the S$450 suitcase and S$100 cashback, the total returns for this promo become very attractive. Taking a conservative S$200 valuation for the suitcase, the total returns for putting aside S$50,000 of funds in this promo for 2 months would be S$640. This is made up of S$340 interest + S$200 suitcase + S$100 cashback.

That’s around 7.9% p.a. returns!

To get the suitcase, you need to sign up with the code in the sign-up box above and deposit minimum S$50,000 until the end of the following month from account opening.

For the S$100 cashback, you need to credit your salary of at least S$3,000 within 2 months of account opening. It needs to be via GIRO with the SALA purpose code so salary workaround tricks are unlikely to work.

Reward 2: S$50 cashback

Remember, Reward 1 gifts are applicable if you do not have a Bonus$aver account regardless whether you have other StanChart accounts. If you don’t have other StanChart accounts (for at least the past 12 months), you get a bonus S$50 if the code in the sign-up box above is used.

Reward 3: get additional S$200 to S$500 cashback

There is also an ongoing savings promo that gives StanChart deposit customers up to additional S$500 cashback for committing funds until 29th February 2023. Simultaneously, get lucky draw chances to win between S$3,000 to S$20,000 of cash prizes!

TierCommitted Funding AmountCashbackLucky Draw Chances
Tier 1S$20,000S$802X chances
Tier 2S$50,000S$2005X chances
Tier 3S$100,000S$50010X chances

Reward 3 is limited to the first 1,500 successful registration SMSes received by the bank per calendar month.

It sucks that this is non-guaranteed, but it is early in the month right now so the odds are in your favour.

Moreover, getting the account with the welcome gifts is already attractive enough, so I would take this additional cashback as a nice bonus if it happens.

Registration is required and you should by sending an SMS with the mobile phone number used to apply for your bank account:

SMS CODE* SPACE your eligible deposit account number SPACE last 4 characters of your NRIC including the alphabet

*SMS CODE is dependent on the selected committed funds and should be noted as such: SAVE100=S$100,000/SAVE50=S$50,000/SAVE20=S$20,000

Example of sample SMS message: SAVE20 1234567890 567A

No StanChart credit card? Better get one first

If you are a new StanChart customer (i.e. no existing StanChart card and have not cancelled any in the last 12 months), you might want to sign up for StanChart credit card first before applying for this promo.

This is because the Bonus$aver promo requires you to apply for the Bonus$aver World Mastercard which will remove your new-to-bank status for credit card offers with Standard Chartered.

You can check out a list of StanChart card deals here.

There’s quite a bit going on

It’s not a super straightforward promo, but not that complex either. Refer to the steps in the Apply Box above and do remember to check out the various terms and conditions (linked above) too. Better save a copy of those terms and conditions for your future reference.

As usual, stay subscribed for more great deals and personal finance updates coming your way.

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