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JumpStart
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JumpStart Account

For young adults and students between 18 and 26 years old. Visit any of our branches to apply

Reasons you’ll love the JumpStart Account

For savvy young adults and students

A hassle-free savings account specially designed for you with 2% p.a. interest for deposits up to S$50,000.

Step up your interest game

Earn bonus interest of 0.50% p.a. on deposit balances up to S$50,000 when you invest.

No fees or minimum deposit

Forget lock-in commitments, annual fees, and minimum deposits.

Ready. Set. Jumpstart your financial freedom

 

JumpStart – Savings Account

JumpStart account

2.00% p.a. interest for account balances up to S$50,000

0.50% p.a. step up interest on deposit balances up to $50,000 when you invest

1% cashback on eligible debit card spends

No lock-in period

No minimum deposit

No requirement for salary crediting

No minimum spends or fees for Cashback debit card

Head, Person, Face

Standard Chartered Online Trading

Quick application process via MyInfo

Get global to 12 stock exchanges around the world

Low brokerage fees

Smart & seamless trading

Terms and Conditions apply.

Step up interest on deposit balances up to $50,000 when you invest

Sitting, Person, Human

Online Unit Trust

Quick application process via MyInfo

Diversification  across asset classes and geographies

Affordable investment through a Regular Savings Plan  from just $100 (in the currency of the unit trusts)

Professionally managed by a fund manager or a team of managers

Terms and Conditions apply.

Step up interest on deposit balances up to $50,000 when you invest

JumpStart

JumpStart your savings account, earn cashback on your card spends!

Receive 1% cashback on qualifying spends with your debit card (the card that comes automatically with your JumpStart Account), capped at S$60 cashback per month.

Terms and Conditions apply.

Level up your personal finance game with these quick reads

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5 Financial Advice I Wish I Knew In My 20s

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Here’s How You Can Save More Money As A Newbie Investor

Are you a beginner entering the world of investment? It can be scary, we get you! While you don’t necessarily need to be rich to start investing, you need to focus on saving money at all times as a newbie investor. Here’s a complete guide for you to save more money than ever before.

Eligibility & Documents

ELIGIBILITY

  • To apply for a JumpStart account
    • You need to be between 18 and 26 years old

DOCUMENTS

  • To apply for a JumpStart account at any of our branches, you need to have these documents ready

    Singapore citizens and permanent residents

    • Original Singapore NRIC

    Foreigners residing in Singapore

    • Passport
    • Valid student/long term/employment pass
    • Any of the following documents:
      • Last 3 months’ utility bill
      • Last 3 months’ bank statement
      • Telecommunications bill
      • Tenancy agreement
      • Government-issued documents stating address (e.g. IRAS, CPF, ICA)

JumpStart is a simple and high-interest savings account that offer a Base interest rate of 2% p.a. and Step-Up interest rate of 0.50% p.a. if you invest (refer to JumpStart Step Up Interest Terms and Conditions), for account balances up to S$50,000, all year round. No lock-in. No minimum spends. No requirement for salary-crediting. You have the flexibility to access your funds anytime AND earn competitive interest rate.

It comes with a Cashback debit card with no monthly or annual fees.

To open a JumpStart Account, you must be between 18 and 26 years old at the time that you apply for the account.

There’s no requirement to close your JumpStart Account when you turn 26. You can continue to maintain your Standard Chartered JumpStart Account beyond your 26th birthday.

You can only open one JumpStart Account.

You can open a JumpStart account in your name only.

You will receive prevailing Base interest on your JumpStart account balances. Prevailing Base interest will be credited into your JumpStart account at the end of each month. You will earn 2% p.a. on your first $50,000 account balance in your JumpStart account, and you will earn 0.10% on any incremental balances above S$50,000 in your JumpStart account.

There is no cap to the amount of interest that you can receive on the balances in your JumpStart account.

Your interest will be reflected in your eStatement, Online Banking and Mobile Banking transaction history as “CR INTEREST”. Interest is credited into your JumpStart Account at the end of each month.

Your Step-Up interest will be reflected in your eStatement, Online Banking and Mobile Banking transaction history as “CR STEP UP INTEREST”.

If you close your JumpStart Account before the end of the month, prevailing interest will be paid up to the day before account closure.

There is no minimum deposit requirement. Additionally, there’s also service or annual fees for the Cashback debit card.

There is NO monthly fee.

There is NO fall-below fee.

No, there is no annual fee for the Cashback debit card.

You will receive your Cashback debit card 5 to 7 working days from the opening date of your JumpStart Savings account.

You’ll enjoy 1% cashback on qualifying transactions on your debit card.

Monthly cashback is capped at S$60 per account and is calculated at the end of each calendar month based on transaction posting date.

Cashback for debit card spends will be credited on the first working day of the following month. Refer to JumpStart Account Product Terms for the qualifying transactions and excluded transactions.

  • Successfully subscribe and settle one or more Eligible Unit Trust(s) through any investment account held by you as a primary account holder; or
  • Successfully set up a Regular Savings Plan (RSP) and settle your monthly investment through any investment account held by you as a primary account; or
  • Successfully put through at least one or more buy order(s) for Equities via SC Online Trading and settle the trade(s) through any investment account held by you as a primary account holder.

Illustration 1:

You perform 1 or more buy transaction on SC Online Trading platform in January
Your Jumpstart account average daily balance in January: S$50,000
Estimated Step-Up interest credited to your JumpStart account in February: S$20.83

Illustration 2:

You perform 1 buy transaction on SC Online Trading platform AND 1 buy transaction on Online Unit Trust platform in January
Your Jumpstart account average daily balance in January: S$50,000
Estimated Step-Up interest credited to your JumpStart account in February: S$20.83

Illustration 3:

You set up a Regular Savings Plan to invest $100 each month for the next 12 months in January.
Your Jumpstart account average daily balance in January: S$50,000
Estimated Step-Up interest credited for to your JumpStart account for the next 12 months: S$20.83 per month.

  • “Eligible Unit Trusts” means a unit trust distributed by the Bank but does not include (i) exchange traded funds; (ii) switching transactions and (iii) any investments made through:
  1. an Overdraft Facility; or
  2. the Central Provident Fund Investment Scheme; or
  3. Supplementary Retirement Scheme
  • “Equities” comprises all shares that are open for trade on the Standard Chartered Online Trading platform, but does not include:
  1. Delisted or suspended shares and
  2. Shares that are in certificate form

You will receive Step-Up Interest for each month that you complete a Wealth Quest. A Wealth Quest can be fulfilled through a successful subscription of a Unit Trust or Regular Savings Plan or a buy order of Equities.

There is no minimum investment amount requirement to receive Step-Up Interest. However, most Unit Trusts require a minimum investment of S$1,000 (refer to respective Fund Details), with subsequent amounts as low as S$100. Monthly minimum investment amount to set up a RSP is $100 but may be higher depending on each Unit Trust’s minimum regular savings plan amount. Please refer to the minimum regular savings plan amount set out in the relevant fund prospectus, as the minimum amount varies from Fund to Fund.

There is no minimum investment amount requirement to receive Step-Up Interest. However, the minimum investment value (in terms on number of shares) you can trade online is determined by the respective exchanges.

No, the maximum Step-Up Interest you receive per month is at the rate of 0.50% p.a.

If you have fulfilled the Wealth Quest in a given calendar month, Step-Up Interest will be credited into your JumpStart account the following calendar month.

Absolutely – here are the reasons to say “yes”:

JumpStart is tailor-made for your #adulting journey, adapting and aligning to your evolving needs and responsibilities. It also comes with attractive interest rates to help grow your savings over time. Not to mention, it rewards you for spending: turning everyday transactions into benefits.

Additionally, by choosing JumpStart, you can capitalise on investment opportunities and earn more as your portfolio grows. And there are no hidden fees to worry about, so you can focus on your personal financial game without any hassle.

Click here for more FAQs

Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$100,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.

Monthly minimum investment amount to set up a RSP is $100 but may be higher depending on each Fund’s minimum regular savings plan amount. Please refer to the minimum regular savings plan amount set out in the relevant fund prospectus, as the minimum amount varies from Fund to Fund.

  
You should read the relevant prospectus before deciding whether to invest in a unit trust. Investments in unit trusts are not obligations of, deposits in, or guaranteed by, Standard Chartered Bank (Singapore) Limited or its affiliates. Unit Trusts are not available to US persons.

  
The contents on this webpage are for general information only and does not constitute an offer, recommendation or solicitation of an offer to enter into a transaction or adopt any hedging, trading or investment strategy, nor does it constitute any prediction of likely future movements in rates or prices or any representation that any such future movements will not exceed those shown in any illustration. It has not been prepared for any particular person or class of persons and 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 the product for you, taking into account these factors before making a commitment to purchase the product. In the event that you choose not to seek advice from a licensed or an exempt financial adviser, you should carefully consider whether this product is suitable for you.

  
You are fully responsible for your investment decision, including whether the product or service described here is suitable for you. The products / services involved are not principal-protected and you may lose all or part of your original investment amount. SCB will not accept any responsibility or liability of any kind, with respect to the accuracy or completeness of the information in this webpage.

  
The contents herein are for general evaluation only and has not been prepared to be suitable for any particular person or class of persons. SCB makes no representation or warranty of any kind, express, implied or statutory regarding the contents on this webpage or any information contained or referred to herein.
This webpage is distributed on the express understanding that, whilst the information in it is believed to be reliable, it has not been independently verified by us.

  
This advertisement has not been reviewed by the Monetary Authority of Singapore.

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