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Make your money work harder with an XtraSaver Account

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Person, Human, Outdoors
  • Deposits
  • Apply For Standard Chartered XtraSaver Account

Make your money work harder with an XtraSaver Account

XtraSaver Account

Enjoy a high interest rate of 2.00% p.a. on your XtraSaver account. Let the account do the hard work for you. Available in AED & USD currencies.

Product Features

Apply today and enjoy the benefits that come with being a valued Standard Chartered Bank Client.

Convenient Withdrawals

Withdraw your cash easily from our extensive network of ATMs

Local Bill Payments

Access all major utility providers such as DEWA, Etisalat & Du via Online Banking for easy payments of your bills.

eStatements

Help save the planet with our secured eStatements.

Alerts

Receive an SMS alert whenever a transaction is performed on your bank or credit card account with our mobile services.

Banking online or on the go

Manage your money easily with our award-winning online and mobile banking platform. SC Mobile is available on the iPhone, iPad and Android mobile device.

Details

Example Savings Table 1*
 MONTH 1
 MONTH 2
 MONTH 3
 MONTH 4
 MONTH 5
 MONTH 6
Monthly Avg. Deposit Balance (AED) 100,000 150,000 185,000 275,000 380,000 382,000
 Interest Rate(p.a.) 0.25 0.25 0.50 1.00 2.00 2.00
 Monthly Interest(AED) 20.83 31.25 75.00 229.17 633.33 636.67
 Total Avg. Balance(AED) 100,021 150,031 180,075 275,229 380,633 382,637
**Only 3 debit transactions are allowed per month. Should there be more than 3 debit transactions in a month, the return earned will be 0% for that month.
*Interest is calculated based on the monthly average balance in the Account and paid on the last business day of each calendar month1 with no minimum balance requirement2

Key Charges

Fees and charges are subject to change. All fees and charges listed are inclusive of 5% Value Added Tax (VAT), where applicable.

Service
Charges
Minimum initial deposit AED 3,000 (or equivalent in foreign currency)
Minimum average monthly balance AED 0
Monthly service charge Nil
Fall-below fee Nil

Eligibility & Documents

Eligibility

  • Nationality
    • UAE Nationals, Residents, and Non-Resident individuals
  • Age

    Minimum 18 years old

Documents Required

  • For Residents
    • Passport, Emirates ID, and Resident Visa
  • For Non Residents
    • Passport, Bank Statements, and Address proof

*Terms & Conditions

    • The XtraSaver Account is available in AED & USD denomination only. The opening of the XtraSaver Account will be limited to 1 Account per client per currency. Only Fresh Funds may be deposited into the XtraSaver Account. “Fresh Funds” are defined as funds brought in from outside Standard Chartered Bank UAE (the “Bank”) within 90 days of opening the XtraSaver Account.
    • Interest Details:
    AED Rates on Average Balance* AED RATE (P.A.) Month 1 AED RATE (P.A.) Month 2 AED RATE (P.A.) Month 3
    0 to 180,000 0.25% 0.25% 0.50%
    180,001 to 365,000 0.25% 0.25% 1.00%
    365,001 and above 0.25% 0.25% 2.00%
    USD Rates on Average Balance* USD RATE (P.A.) Month 1 USD RATE (P.A.) Month 2 USD RATE (P.A.) Month 3
    0 to 50,000 0.25% 0.25% 0.50%
    50,001 to 99,999 0.25% 0.25% 1.00%
    100,000 and above 0.25% 0.25% 1.50%
    • All transactions will be considered completed on the Value Date (the date of the transaction as determined by our Banking systems). Transactions performed on public holidays will reflect on the next Bank working day.
    • If the account is closed before the end of the calendar month, 0% interest (p.a.) is applicable for that calendar month. Calendar month being one of the twelve months of the calendar year.
    • *The above example in Table 1 depicts rates applicable on AED currency. The rates are subject to change at any time and shall be applicable as per product/ client terms. Only 3 debit transactions are allowed per month. Should there be more than 3 debit transactions in a month, the interest earned will be 0% for that month. Following which the rate cycle will follow the rate grid illustrated above.
    • Debit transactions include all withdrawals from the Account, including, but not limited to, the Bank’s fees and charges on the transaction initiated by the Client, standing orders, financing recoveries, retail purchases and ATM withdrawals. The debit transactions in which separate Bank fees and charges are levied include the Bank’s UAE ATM withdrawals, retail purchases, 3D Secure transactions and utility bill payments. This also includes the instance where a Client initiated debit transaction is subsequently reversed and credited back to the Account.
    • 1Interest shall be calculated based on the monthly average balance in the Account and paid on the last business day of each calendar month.
    • 2If you hold other accounts under the same master number as the XtraSaver Account, the minimum balance requirements of AED 3,000 (or foreign currency equivalent) are applicable to those accounts. However, any balances held in your XtraSaver Account(s) will apply toward satisfaction of the minimum balance requirements for those accounts.
    • These XtraSaver Terms and Conditions should be read in conjunction with Deposit Accounts and Client Terms, as amended from time to time.
  • Please click here for the Arabic version of the terms and conditions
  • For further details on fees and charges, please refer to our Service and Price Guide.