Wealth $aver-i Account

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.