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Clothing, Apparel, Person
  1. Employee Banking
  2. Wealth $aver Account

Wealth $aver Account

Exclusively for Priority Banking clients only. Earn up to 5.00% p.a. on the first S$500,000 deposit balance.

Earn up to 5.00% p.a. on your deposits with Wealth $aver

Benefits of Wealth $aver Account
  • Get up to
    5.00% p.a.

    on your deposit balance

  • Enjoy unlimited
    1%

    Cashback on your Debit Card spend

  • Receive up to
    S$13,000

    cash reward when you join Priority Banking+

Wealth $aver Calculator

Earn up to 5.00% p.a.* interest on your Deposit Balance

Enter your estimated Wealth $aver average daily balance

S$

Your estimated annual interest

S$ @ % p.a.

More information

Wealth $aver Account interest Rate

The interest rate for your Wealth $aver account balances denominated in Singapore Dollar is determined your total assets managed by the Bank, which is known as Assets Under Management (AUM)

AUM is defined as the sum of your:

  1. Total Deposits placed with the bank, including Time Deposits,
  2. Total value of eligible investment products with the bank, and
  3. Total premiums paid to date on eligible in-force insurance products purchased through the bank.

The following interest rate will apply if your relationship status is Priority Banking and above based on your corresponding AUM threshold for each month:

Asset Under Management “AUM” (SGD) Wealth $aver Account Balance in SGD Interest rate (p.a.)
< S$200,000 > S$0 0.05%
S$200,000 to < S$1,500,000 First $500,000 2.00%
Balances above S$500,000 0.05%
≥S$1,500,000 First $500,000 3.50%
Balances above S$500,000 0.05%

Important Notes:

  • You will only earn 0.05%p.a. on your Wealth $aver account balance if you are not a Priority Banking or Priority Private client. It may take up to 7 working days to process your Priority Banking or Priority Private sign up request after fulfilling the eligibility criteria.
  • You will also not earn interest your foreign currency denominated balances.

Relationship-based Interest Rate

Interest rate based on your Asset Under Management (AUM) with us. Select your AUM band (your total Deposit + Investment + Insurance)

Interest (p.a) earned*

3.50%
More information

Wealth Booster Promotion (Valid till 31 Dec’22)

Here’s how to get the 1.50% p.a. promotional bonus interest

Wealth Promotion Requirements Promotional Bonus Interest Rate Promotional Bonus Interest Period Promotional Bonus Interest Crediting Month

Insure

Purchase, through us, and be issued Eligible Insurance Policy(ies) with a Total Annual Premium of at least S$20,000 within a calendar month during the Promotion Period

OR

Invest

Subscribe through us within a calendar month during the Promotion Period, and settle trade(s), for Eligible Unit Trust(s), Bonds and Structured Notes with a Total Subscription Amount of at least S$120,000

 1.50%p.a.

12 months starting from the month of (as the case may be):

Inception of the Eligible Insurance Policy(ies)

OR

Investment subscription month

(E.g. if the Eligible Insurance Policy(ies) is/ are incepted or if the subscription(s) of the Eligible Unit Trust(s) is in Sep 2022, you will earn Promotional Bonus Interest on your ADB from Sep 2022 to Aug 2023)

1 month after the calendar month eligible for Promotional Bonus Interest

(E.g. if you are eligible for Promotional Bonus Interest in Sep 2022, such Promotional Bonus Interest for Sep 2022 will only be credited in Oct 2022)

What are considered Eligible Investments Products under the Wealth Booster Promotion?

The following are considered as Eligible Investments Products:

  1. Eligible Unit Trust – a unit trust distributed by us but does not include (a) exchange traded funds; and (b) switching transactions.
  2. Eligible Bonds – successful subscription of bonds issued and/or distributed by the Bank.
  3. Eligible Structured Notes – successful subscription of structured notes issued and/or distributed by the Bank, excluding Premium Currency Investments and Commodity Linked Structured Investment.

What are considered Eligible Insurance Policy(ies) under the Wealth Booster Promotion?

  1. Regular premium life insurance policy(ies)
  2. single premium life insurance policy(ies)

underwritten by Prudential Assurance Company Singapore (Pte) Limited (with the exception of PRUShield and single premium life insurance policy purchased using SRS funds)

Wealth Booster Promo (Valid till 31 Mar’23)

With new purchase of Eligible Investments (min. S$120K) or Eligible Insurance (min. S$20K) within a calendar month^

No
Yes

Interest (p.a) earned

1.50%

on the 1st S$500K.

*T&Cs apply. Indicated interest rates shall only be applicable to the 1st S$500,000 in the Account when corresponding AUM threshold is met and you have a Priority Banking or Priority Private relationship with us. For all amounts exceeding S$500,000 or if you do not meet all relevant criteria, your applicable interest rate shall be 0.05% p.a. Please note that it may take up to 7 working days to process your Priority Banking or Priority Private sign up request after fulfilling the eligibility criteria

Multi-currency Features

Multi-currency Access

Access funds in up to 14 currencies in a single account Read More

Competitive FX

Convert at attractive FX rates

Zero Overseas Transaction Fees

Spend on your multi-currency enabled debit card to enjoy zero overseas transaction fees on your foreign currency spend

Ease Of Activation

Enable your multi-currency feature via Online Banking on SC Mobile App Read More

Exclusive privileges with your Wealth $aver Debit Card

 

View All Promotions View All Promotions

Exclusive privileges with your Wealth $aver Debit Card  

Walking, Person, Field

Golf Privileges

Tee off with complimentary access to golf clubs and discounted golf lessons across South East Asia

More
Dinner, Supper, Food

MBS

Savour the best with dining privileges of up to 30% off

More
Bed, Furniture, Home Decor

HoteluxElite

Enjoy access to luxury hotels with a complimentary 12-month HoteluxElite membership (worth USD129)

More
Wealth saver account

Caltex

Save on fuel with up to 16% off

More

Application Eligibility

To apply for a Wealth $aver account:
  • You need to be 18 years old and above
  • Priority Banking and above

Application Requirement

For SingPass holders applying with MyInfo

myinfo-logo
No documents are required

To apply at any of our branches, please prepare the following:
  • Original Singapore NRIC

Application Eligibility

To apply for a Wealth $aver account:
  • You need to be 18 years old and above
  • Priority Banking and above

Application Requirement

For SingPass holders applying with MyInfo

myinfo-logo
Residential address proof

To apply at any of our branches, please prepare the following:
  • Copy of Passport (with at least 6 months’ validity)
  • Copy of your Employment Pass
  • Any ONE of the following documents:
    (i) Latest utility bill, rates or tax bill
    (ii) Latest bank / credit card statement (e-Statements are accepted)
    (iii) Rental agreement showing your address
    (iv) Latest mobile phone statement or pay-TV statement
    (v) Letter from employer stating current address

Services & Charges
Note: Except for Unarranged overdraft charges, all other fees are waived as long as you remained as a Priority Banking client.
Fall-below fee (per month)
S$5
Unarranged overdraft
Prime +5%, minimum S$5
Debit card annual fee (Including GST)
S$20
Cheque book charges
S$10 for each cheque book requested
Early Account Closure (within 6 months)
S$30
Refer here for all the relevant fees and charges

Wealth $aver Account rewards you on your overall banking relationship with us.

You can get up to 3.50% p.a. interest* on the first S$500K deposit balance with no minimum lock-in period. It also comes with a Priority Banking metal debit card that awards you with unlimited 1% cashback on your card spend.

Wealth $aver account is exclusively for our Priority Banking or Priority Private clients who are at least 18 years old.

If you are not yet a Priority Banking client, start a Priority Banking relationship with us by opening a Wealth $aver account and deposit a minimum S$200K fresh funds.

We will credit any interest to your Wealth $aver account monthly by the last day of the following month or at other regular intervals that we determine.

The average AUM used to determine the interest rate assigned to your Wealth $aver account will be reflected in your monthly statement of account as part of the transaction description on the interest crediting entry.

If you are a Priority Banking or Priority Private client at the point of interest computation, we will be taking the average Assets Under Management (AUM) for the month to determine the interest rate assigned to your account each month.

AUM is defined as the sum of your:

  1. Total Deposits placed with the bank, including Time Deposits,
  2. Total value of eligible investment products with the bank, and
  3. Total premiums paid to date on eligible in-force insurance products purchased through the bank.

You will earn interest on the average daily balance for only your Singapore Dollar denominated balances. All deposit balances above S$500K will earn 0.05% p.a. For clarity, you will not earn interest your foreign currency denominated balances.

The average daily balance (ADB) eligible for the higher interest rate of up to 2% p.a. is subject to a cap of S$500,000. Any ADB amount in excess of the cap will be accorded with 0.05% p.a.

The following are considered as Eligible Investments Products:

  1. Eligible Unit Trust – a unit trust distributed by us but does not include (a) exchange traded funds; and (b) switching transactions.
  2. Eligible Bonds – successful subscription of bonds issued and/or distributed by the Bank.
  3. Eligible Structured Notes – successful subscription of structured notes issued and/or distributed by the Bank, excluding Premium Currency Investments and Commodity Linked Structured Investment.

The aggregate subscription for all Eligible Investment Products purchased through us within a calendar month during the Promotion Period must be at least S$120,000* (or its equivalent in another currency).

*Note: For Non-Accredited Investors (AI), eligible Bonds/Structured Notes will be subjected to minimum investment amount.

Regular or single premium life insurance policy(ies) underwritten by Prudential Assurance Company Singapore (Pte) Limited (with the exception of PRUShield and single premium life insurance policy purchased using SRS funds) which names the Wealth $aver accountholder as the policy holder and where the aggregated annualized premium(s) payable for all Eligible Insurance Policy(ies) purchased through us within a calendar month during the Promotion Period must be at least S$20,000 (or its equivalent in another currency).

Yes. The average daily balance (ADB) eligible for the Promotional Bonus Interest is subject to a cap of S$500,000.

Unfortunately, you will need to have a Wealth $aver account opened before the subscription of Eligible Investment Products or purchase of Eligible Insurance Policy(ies) to qualify for the Promotional Bonus Interest.

Click here for more FAQs.

Investments

The content of this webpage does not constitute an offer, recommendation or solicitation of an offer to enter into a transaction or adopt any hedging, trading or investment strategy. It has not been prepared for any particular person or class of persons and does not constitute and should not be construed as investment advice nor an investment recommendation. It has been prepared without regards to the specific investment objectives, financial situation or particular needs of any person. You should seek advice from a financial adviser on the suitability of an investment for you, taking into account these factors before making a commitment to invest in an investment. Investment products are not deposits and each of the investment products mentioned does not qualify as an insured deposit under the Singapore Deposit Insurance and Policy Owners’ Protection Schemes Act 2011

 

Insurance Products

The content of this webpage does not constitute a contract of insurance and reference should be made to the respective policies for the exact terms and conditions applicable to the insurance policy. It does not constitute an offer, recommendation or solicitation of an offer to buy or sell any insurance product or service, nor is it intended to provide insurance or financial advice. All insurance products described in this webpage are products of and underwritten by the respective insurers and not Standard Chartered Bank (Singapore) Limited. In facilitating insurance arrangements or in referring customers to the respective insurer(s), Standard Chartered Bank (Singapore) Limited is acting in alliance with the respective insurer(s) and not as an agent for customers. Standard Chartered Bank (Singapore) Limited shall not be liable in any manner whatsoever regarding your application or the contract of insurance.

Additionally, in relation to life insurance, buying a life insurance policy is a long-term commitment. An early termination of the life insurance policy usually involves high cost and the surrender value payable (if any) may be less than the total premiums paid.

These policies are protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact your insurer or visit the LIA or SDIC websites (www.lia.org.sg or www.sdic.org.sg).

Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.

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