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Wealth $aver-i Account
  1. Deposits
  2. Wealth $aver-i Account

Up to 6.68% p.a. on your deposits with Wealth $aver-i Account

Exclusively for Priority Banking clients

Flexibility

No lock-in

period

Put your savings into high gear with a Wealth $aver-i Account

  • Profit Rate up to
    2.30% p.a. Based on your Asset under Management (AUM) which includes total deposit balance, investment/wealth assets and insurance with the bank.

    Priority Banking Relationship-based profit rate

  • Wealth Booster up to
    2.30% p.a. Earn up to 2.30% p.a. for 6 months when you invest a minimum RM100,000 of Eligible Wealth Product in a single Wealth Product Category. T&Cs apply.

    bonus hibah when you invest

  • New-to-Priority bonus of
    2.08% p.a. Exclusively for New to Priority Banking client only. Enjoy 2.08% p.a. for 6 months on fresh funds when you sign up as a Priority Banking client. T&Cs apply.

    bonus hibah on incremental fresh funds

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Access exclusive benefits with your Wealth $aver-i Account

Higher returns without any lock-in period

Boost your returns based on your Asset Under Management (AUM) with the bank

Zero fees when you send money abroad

SC Remit enables you to send money overseas at your convenience from the SC Mobile app with zero fees

Competitive foreign exchange (FX) rates

Maximise exchange rates to your advantage with real-time FX conversions via LiveFX

The total rate for Wealth $aver-i Account is as below.

AUM Tier (MYR Equivalent)
Total Rate (p.a.)
Below 350,000 0.05%
350,000 to below 3 million 2.00%*
3 million & above 2.30%*
*Profit rate of 0.05% will be credited monthly by the last day of the month. The remaining profit and hibah (if any) will be credited by end of following month.

Expand your wealth internationally with Priority Banking

With our strong presence in the world’s most dynamic markets combined with our local expertise, you can count on us to achieve your financial goals with ease.
Begin your Priority Banking journey with us today and enjoy a host of exclusive benefits.

Wealth $aver-i account is a Savings Account that offers attractive returns based on your Asset Under Management (AUM) with the Bank as well as better rewards if you are a Priority Banking client. The underlying Shariah contract for Wealth $aver-i account is “Tawarruq”.

Note: “Tawarruq” refers to an arrangement that involves sale of an asset to the purchaser on a deferred basis and subsequent sale of the asset to a third party on a cash basis to obtain cash. It involves the buy and sale of a commodity which is done on the same day to facilitate acquisition of cash by either the Bank (for deposit) or clients (for financing).

The Wealth $aver-i account is a Savings Account that has wide-ranging benefits that include:

  • Attractive returns based on your Asset Under Management (AUM) with the Bank; no lock-in, no transaction requirements with full flexibility.
  • Enjoy fee waivers for withdrawals at all local ATM Network when you deposit a minimum of RM10,000 monthly in a single transaction (fresh funds) or maintain Average Monthly Balance of RM20,000 in your Wealth $aver-i account.
  • Transfer funds easily and without fees via Standard Chartered ATMs nationwide and Interbank GIRO (online banking and SC Mobile app).
  • Transfer and save in up to 12 currencies all in one account anytime, anywhere.
  • Wealth $aver-i account is protected by Perbadanan Insurans Deposit Malaysia (PIDM) up to RM250,000 for each depositor.

We will be taking the end of month Assets Under Management (AUM*) position to determine the total rate tier assigned to your account each month.

You will earn total rate on the average daily balance of your Malaysian Ringgit denominated balances only. You will not earn total rate or return on your foreign currency denominated balances.

*AUM is defined as total market value of all the client’s financial assets including deposits (current, savings, and fixed deposit/term deposit-i accounts) and/or investments/wealth assets including Bancassurance/ Bancatakaful annual premium/contribution held by the Primary account holder.

You can sign up for Wealth $aver-i account via Online Banking, SC Mobile app or at any Standard Chartered Bank Malaysia Berhad or Standard Chartered Saadiq Berhad branches nationwide.

You must be 18 years old and above at the time you apply for the product.

Eligibility & Documents

Malaysian/Permanent Resident

  • Identification Document

    NRIC

  • Age Requirement

    Individuals who are 18 years old and above

Foreigners

  • Please prepare the following: Identification Document

    Valid Passport (with at least 6 months’ validity)

  • Proof of Employment/Study (Any ONE of the following documents)
    • Employment Pass/Work permit
    • Student Pass
  • Proof of residential address (Any ONE of the following documents)
    • Latest utility/mobile/internet subscription bill
    • Driving License
    • Latest bank/credit card statement
    • Rental agreement showing your address
    • Letter from employer stating current address
    • Government-issued document stating current address

Service and Charges
Refer here for all relevant fees and charges
Minimum deposit to open account
Nil
Early Account Closure (within 3 months)
RM20
Paper statement fee
RM2

1. Campaign period is valid from 1 January 2025 to 31 March 2025.

2. The Eligible Account is Wealth $aver-i Account.

3. Client are required to fulfil the following conditions to be eligible in this campaign

  • Open/hold an active Eligible Account
  • Join or maintain the Priority Banking relationship with the Bank
  • Maintain a minimum AUM of RM350,000

4. Wealth $aver Profit Rate is determined based on the client’s Asset Under Management (AUM) for each month. AUM is defined as total market value of all the client’s financial assets, which shall include deposits (conventional or Islamic current, savings, and fixed deposit/term deposit-i accounts), investments/wealth assets and paid Bancassurance/Bancatakaful annual premium/contribution as the primary account holder.

Wealth Booster

1. Wealth Booster is open to all new and existing Priority Banking clients who purchase a minimum RM100,000 of Eligible Wealth Products in a single Wealth Product Category on the same day within the month.

2. Eligible Wealth Products refers to:

  • Unit Trust / Islamic Unit Trust (collectively referred to as “UT”) with a minimum sales charge of 2%;
  • Retail Bond / Sukuk (collectively referred to as “Retail Bond”) with a minimum sales charge of 2%; or
  • Structured Investment with a minimum sales charge of 1.5%. Structured investment is only offered by Standard Chartered Bank Malaysia Berhad.

3. The Wealth Booster rate is determined by client’s wealth segment: (i) New to Product or (ii) Existing to Product.

Client Segment – Wealth Wealth Booster (p.a.) iii
New to Product (NTP) i 2.30%
Existing to Product (ETP) ii 1.80%

i. New to Product (2.30% p.a. for 6 months): NTP refers to client who do not hold the specific Wealth Product Category with the Bank as of last month and did not transact in the specific Wealth Product Category in the past 12 months from the Purchase Month.

ii. Existing to Product (1.80% p.a. for 6 months): ETP refers to clients who hold the specific Wealth Product Category with the Bank as of last month or transacted in the specific Wealth Product Category in the past 12 months from the Purchase Month.

iii. Wealth Booster pay-out will be calculated based on the Eligible Wealth Purchase Amount or the Account MAB, whichever is lower.

4. For Wealth Booster full Terms and Conditions, please click here

New-to-Priority Bonus

1. New-to-Priority Bonus is open to New-to-Priority clients, which includes both New-to-Bank (NTB) or New-to-Segment (NTS) clients who sign up and meet the minimum requirements to be a Priority Banking client with the Bank.

2. Client is required to deposit and maintain a minimum of RM100,000 incremental average balance (IAB) on the Wealth $aver-i Account.

3. The minimum IAB to enjoy New to Priority Bonus is RM100,000 and the maximum is capped at RM1,000,000 for each Priority Banking and RM1,500,000 for each Priority Private client. Client with IAB less than RM100,000 will not be entitled for the New-to-Priority Bonus.

4. For New-to-Priority Bonus full Terms and Conditions, please click here

+This is an advertisement

This advertisement has not been reviewed by the Securities Commission Malaysia. The product lodgement, registration, submission or approval by the Securities Commission of Malaysia does not amount to nor indicate recommendation or endorsement of the product, service or promotional activity. Please refer to Advertising Standards on https://www.sc.com/my/investments for additional information. Investment products are not deposits and are not obligations of, not guaranteed by, and not protected by, Standard Chartered Bank Malaysia Berhad or any of the affiliates or subsidiaries, or by Perbadanan Insurans Deposit Malaysia (PIDM), any government or insurance agency. Investment products are subject to investment risks, including the possible loss of the principal amount invested.

 

This document is not intended to be an offer or invitation to subscribe for or purchase securities.

 

The information contained herein has been obtained from sources believed in good faith to be reliable and the opinions, analyses, forecasts, projections and expectations (collectively “Opinions”) contained herein are based on such information and are expressions of belief only.

 

No representation or warranty, expressed or implied, is made that such information or Opinions is accurate, complete or verified and should not be relied on as such. Information and Opinions contained herein are published for recipients’ reference only.

As with any other form of financial product, the financial product introduced herein carries risks, and you may not get back the amount you originally invested. You should be aware that this financial product may not be suitable for potential investors who are averse to such risks, and to consider the fees and charges involved.

 

You are advised to read and understand the approved relevant documents accompanying and relating to the product (whether prospectuses, information memorandum or deed) for inherent risks of investing in the product.

 

If in doubt, potential investors should seek independent advice. Investment in this financial product is neither deposited with nor guaranteed by Standard Chartered or its subsidiaries. Accordingly, neither the Bank nor any of its related companies shall have any responsibility whatsoever to any investor for any losses which the investor may suffer as a result of the performance of the product.

PIDM  Perbankan Islam

*Only deposits are protected by PIDM up to RM250,000 for each depositor.

*  Click here for PIDM’s DIS Brochure