Standard Chartered Bonus$aver Account Review

Bonus$aver consists of a Bonus$aver account - which is a current account that yields high interest rates - and linked Bonus$aver World Mastercard Credit and Debit card(s). This account allows you to earn interest that is higher than that of any time deposit - i.e. you can get up to 3.88% p.a. interest on your deposits for up to S$100,000. For current accounts with deposit balances of S$3,000 to a maximum of S$100,000, you can accrue different rates of interest on top of the prevailing (base) interest rates. This accrual depends on what degree you use your debit or credit cards, pay your bills, purchase unit trusts or pay your insurance premiums, or get your salary credited to your account. You can get up to 3.88% p.a. interest when you do the following:

  • Use your Bonus$aver debit or credit card.
  • Use GIRO to credit your salary.
  • Use GIRO or internet banking to pay your bills.
  • Get insured by the bank with a premium insurance policy or purchase a unit trust.

Each of the 4 criteria listed above will have their own requirements that you will have to meet to get the total of 3.88% p.a. interest on your Bonus$aver account balance.By opening a Bonus$aver account, with its linked debit and/or credit cards, you will enjoy the convenience of making all your transactions and payments using only one method and finding them all in one place.

Things to Look Out For: Earn up to 3.88% interest p.a. on your Bonus$aver account for balances up to S$100,000.

  • Enjoy high interest rates when you invest/insure, pay your bills, spend, credit salary or save.
  • Save your time by applying online or through MyInfo.
  • Bank on the go or online using their award-winning Online and Mobile Banking platforms.
  • Pay off your other banks’ credit card bills free of charge.
  • Access over 300 billing organisations through online banking or by setting up GIRO arrangements.
  • Benefit from the bank’s extensive network of ATMs to withdraw cash easily.
  • Manage your money and payments at any time through Standard Chartered’s 24-hour Phone Banking, Mobile Banking, and Online Banking platforms.
  • Enjoy easy management of your account through consolidated statements.

Interest Rates

Prevailing interest rates are base interest rates that depend on your Bonus$aver account balance. Keep in mind that these are the minimum interest rates that the Bonus$aver account offers. The following table illustrates the prevailing interest rates:

Deposit Balance Interest Rate (p.a.)
Less than S$200,000 0.1%
S$200,000 and above 0.2%

Bonus Interest Rates

By consolidating all your financial obligations into one account, you stand to earn a maximum of 3.88% p.a. bonus interest on your balances.

There is a minimum spend for cards, a minimum premium amount or unit trust investment amount, a minimum salary credit that has to be met, and a minimum number of bills you have to pay using your Bonus$aver account to be eligible.

Card spend

  • If you spend a minimum of S$500 on your Bonus$aver cards, you may earn up to 0.78% p.a interest. Inclusive of the prevailing interest rate, you can get up to 0.88% p.a.
  • If you spend a minimum of S$2,000 on your cards, you may earn up to 1.78% p.a. interest. Inclusive of the prevailing interest rate, you can get up to 1.88% p.a.

The following terms and conditions apply:

  • The following transactions will not count towards your overall card spend:
  1. Bonus$aver card balance transfers
  2. AXS payments
  3. Any cancelled, reversed, or voided transactions on the Bonus$aver card for that month
  4. EasyPay monthly instalments
  5. Payments to credit facilities
  6. Payments to the ICA, Ministry of Manpower or LTA
  7. Top-ups of any stored value cards, including EZ-link card transactions
  8. The use of your Bonus$aver cards as ATM cards
  9. Payments to loans
  10. Payments to deposit accounts
  11. Bill payments through online banking
  12. Income tax payments
  13. Fees and charges made to your linked Bonus$aver cards (late payment charges, administrative fees, annual fees, interest charges, etc.)
  14. Balance that is owed from previous months on your Bonus$aver card

Salary credit

  • If you have a salary credit of S$3,000 or more by your employer per month, you are eligible for an additional 1% p.a. bonus interest.

Insure or invest

  • If you purchase a unit trust with a minimum investment sum of S$30,000, or an insurance policy with a minimum annual premium of S$12,000 with the bank, you are eligible for a further 0.75% p.a. bonus interest.

Bill payment

  • If you make at least 3 bill payments worth S$50 or more (each) in a calendar month from your Bonus$aver account using online banking or via GIRO, you can earn an additional 0.25% p.a. bonus interest.

You may be eligible to earn a maximum of 3.88% p.a. bonus interest:

1.88% + 1% + 0.75% + 0.25% = 3.88% p.a.


Take advantage of sign-up cashback and prizes of up to S$100,000 when you open a Bonus$aver account online or in-person before 31 October 2018.

Standard Chartered Bank Bonus$aver Sign-up Cashback Promotion - 31 October 2018

Enjoy S$250 cashback when you get approved for a Bonus$aver account and a Bonus$aver credit card, until 31 October 2018.

Minimum Deposit Cashback Amount (BONUS) Online Cash Prize
S$10,000 S$50 Get S$50 more cashback if you apply online
S$75,000 S$200


Terms and Conditions:

To be eligible for the promotion, you must meet the following criteria:

  • You must apply as:

(i) The main account holder for a Bonus$aver current/chequing account, and

(ii) The principal cardholder for a Bonus$aver World Mastercard Credit/Debit Card.

  • You must deposit a minimum amount of S$10,000 or S$75,000 in fresh funds that are not transferred from any other account you hold with Standard Chartered.
  • You must maintain this minimum deposit amount in your Bonus$aver account until the end of the calendar month following the month it’s opened.
  • You must not have had previous Bonus$aver credit cards or Bonus$aver chequing accounts terminated, suspended, or cancelled prior to these new applications.
  • The credited cashback into your Bonus$aver credit card account must be used within 6 months from the date it was credited, or what remains of the cashback amount will be forfeited.

Standard Chartered Bank Bonus$aver Save and Win Promotion - 31 October 2018

Win cash prizes of up to S$100,000 for every S$10,000 deposited into your Bonus$aver current account.

Lucky Draw Position Number of eligible prizes Prize amount
Winner 1 S$100,000
1st Runner Up 10 S$5,000
2nd Runner Up 20 S$1,000
3rd Runner Up 470 S$100
Terms and Conditions:

To be eligible for the promotion, you must meet the following criteria:

  • You must apply as:

(i) The main account holder for a Bonus$aver current/chequing account, and

(ii) The principal cardholder for a Bonus$aver World MasterCard Debit or Credit card.

  • You must not have had previous Bonus$aver cards or Bonus$aver chequing accounts suspended, cancelled, or terminated prior to these new applications.
  • If these conditions are met, you will get one chance to win the S$100,000 and other amounts listed for every S$10,000 of eligible balance in your account.
  • 501 participants will be randomly selected for the prizes and an outside auditor will verify the winners.
  • If you win the cashback, the prize amount will be credited to your account by 31 December 2018.

Fees and Charges

Service Fees/charges
Fall-below fee S$5 (if the average daily balance falls below S$3,000)
Monthly service charge N/A
Annual credit card fee S$214 (only starts from the 3rd year)
Annual debit card fee S$20 (includes GST)
Cheque book charge Free first chequebook Additional chequebooks = S$15 each
Early account closure fee S$30 (if closed within 6 months of opening)


  • Age requirement of 21 - 65 years old applies.
  • Singaporeans, Permanent Residents of Singapore, and foreigners are eligible.
  • Foreigners must hold: Q type, P1 or P2 Singapore Employment Passes and a minimum of 1 year validity must remain for Q Pass holders.

Required Documents

Singapore citizens and Permanent Residents:
    • NRIC
    • Income documents that include the following:
      • Self-employed: Income Tax Notice of Assessment (last 2 years)
      • Salaried employee: computerised payslip from current employer (previous or current month)
      • Commission earner (any of the following):
        • Latest Income Tax Notice of Assessment
        • Computerised payslips from the same current employer (last 3 months)
        • CPF Contribution History Statements from current employer (last 6 months)
    • Passport
    • Employment Pass
    • Proof of address (any one of the following):
      • Government-issued documents with address stated (e.g., CPF, IRAS, ICA)
      • Telecommunications bill
      • Utility bills for the last 3 months
      • Tenancy agreement
      • Letter stating address from the HR department of current employer
      • Bank statements for the last 3 months
    • Income documents:
      • Salaried employee (any one of the following):
        • Latest Income Tax Notice of Assessment
        • Previous or current month’s computerised payslip from current employer

How to Apply

Apply online or visit your nearest branch today.

Deposit Insurance Scheme

Singapore dollar deposits are insured by the Singapore Deposit Insurance Corporation - up to S$50,000 per depositor.

Frequently Asked Questions

Q. What is the maximum bonus interest I can get?

A. The bonus interest is capped at 3.88% p.a. for a deposit balance of up to S$100,000. Any deposit balance greater than S$100,000 will result in only the prevailing rate applying.

Q. When can I expect to receive my bonus interest?

A. The bonus interest rate will be credited by the end of the following month.

Q. How can I find out if the bonus interest has been credited into my account?

A. Your e-statement/mobile banking/internet banking transaction history will reflect the bonus interest credited into your account in the following ways:


Q. How will I receive the bonus interest rate if I closed my account before the bonus interest rate was credited?

A. If you close your account before the the bonus interest rate is credited into your account for the last month, you will forfeit this interest. However, if you close your account before the end of the month, you will be paid the prevailing interest rate up to the day prior to the closing date.

Q. What is the minimum deposit amount required to open an account?

A. There is no minimum deposit amount. You can open an account with even S$1.

Q. How can I deposit funds into this account?

A. You can deposit funds into your Bonus$aver account in the following ways:

  • Online Banking
  • Cash deposits or cheque drop-offs at a branch
  • Mail the cheque to the bank
  • Through Cash Deposit Machines (CDMs)
  • Through standard instructions, GIRO, or internet banking of other banks

Q. How many Bonus$aver accounts can I open?

A. Where you are the primary account holder, you are allowed to open up to 3 Bonus$aver accounts.

Q. Will I be able to use the money in my Bonus$aver account?

A. Yes, this account does not come with a lock-in period.

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