Standard Chartered - Bonus$aver Current Account (1.88%)

Pros & Cons

1. Earn 1.88% p.a. on your saving provided you can spend minimally $500 every month. If you cannot fulfill this condition, the prevailing interest rate will be as low as 0.1% p.a.
2. No fall below fee before 1 July 2013.
3. Get minimally $100 credit cash back with any deposit amount (promotion valid till 30 June 2013) 
4. This is a current account, joint account is available.

Introduction
Bonus$aver comprises a Bonus$aver account (which is an innovative Current Account that gives you the highest interest rate in town), and Bonus$aver World MasterCard credit and/or debit card(s) which may be linked to the Bonus$aver account. Earn 1.88% p.a. on your savings for the first S$25,000 in your Bonus$aver account when you charge a minimum of S$500 to your linked Bonus$aver World MasterCard credit and/or debit card(s) each month.


Interest Rates
The prevailing interest rates for Bonus$aver are as follows:

Deposit Balance	Interest Rate
Less than S$200,000	0.10 % p.a.
S$200,000 & above	0.20 % p.a.

Prevailing interest rate will continue to be calculated daily and credited monthly. Bonus interest will be calculated at the end of a calendar month and credited on the 1st working day of the following calendar month. Bonus interest will be credited to your Bonus$aver account on the next month.


Fees & Charges

Services	Charges
Minimum average daily balance	S$3,000 (waived till 30 June 13) (Note: If account is in S$0 balance for six consecutive months, it will be automatically closed)
Fall below fee	S$5 (waived until 30 June 13)
Monthly service charge	S$0
Credit card annual fee	S$200 per annum Free for 2 years
Debit card annual fee	S$15 per annum Free for 2 years
Cheque book fee	1st cheque book: Free Subsequent cheque book(s): S$15 each

Eligibility
You must be 21 years old and above to be eligible. For joint account applicants, both parties must be 21 years old and above. 


Important Notes

1. An early account closure fee of S$30 will be charged if you close your Bonus$aver account within 6 months of the date of account opening.
2. Your account will be automatically closed if your account has S$0 balance for 6 consecutive months.
3. The following transactions will not be taken into consideration when determining the minimum amount of S$500 to be charged to your linked Bonus$aver World MasterCard debit and/or credit card(s) is fulfilled:
   - transactions arising from the use of your linked Bonus$aver World MasterCard debit card and Bonus$aver World MasterCard credit card as an ATM card at an ATM (i.e. cash withdrawals) or a EFTPOS or NETS terminal (i.e. using the debit card for a NETS transaction) or any other channel (e.g. bill payments at AXS or SAM machines);
   - balance transfers to your linked Bonus$aver World MasterCard credit card;
   - transactions such as EasyPay and cash advance;
   - any fees and charges (including annual fees, interest charges, cheque processing fees, administrative fees, cash advance fees, finance charges, online banking bill payments to all billing organisations, etc.) and;
   - any amount charged to the linked Bonus$aver World MasterCard debit and/or credit cards that is subsequently cancelled, voided or reversed. The amount will be deducted from the total spend amount in the month that it is cancelled, voided or reversed;
   - payments made to all billing organisations through online banking using your linked Bonus$aver World MasterCard credit card.
4. Official website: http://www.standardchartered.com.sg/personal-banking/deposits/bonussaver/en/
5. Official FAQ: http://www.standardchartered.com.sg/personal-banking/deposits/bonussaver/en/faq.html
6. Official Terms and Conditions: http://www.standardchartered.com.sg/personal-banking/deposits/bonussaver/en/tnc.html