Standard Chartered Bank is set to increase the maximum interest rate on its Bonus$aver deposit account to 8.05% per annum from 1 June 2025, marking the highest rate ever offered by the bank for this product. This move positions Bonus$aver as the most competitive savings account in the industry. The bank also announced that online equity Buy trades of at least S$20,000, executed through SC Online Trading, will now qualify under the “Invest” category, alongside unit trust purchases.
The Bonus$aver account, known for its tiered interest rate structure, rewards clients for engaging in various banking activities such as salary credit, card spending, insurance, and investment. Usman Khalid, Global and Singapore Head for Deposits, Mortgages & Payments at Standard Chartered, stated, “Bonus$aver has been one of our signature offerings in Singapore for several years, and we’re excited to relaunch it with our highest rates yet for clients who choose Standard Chartered as their primary bank for both their banking and investment needs.”
The decision to include equity trades comes in response to a 50% increase in new client acquisitions in 2024 compared to 2023, and a 65% rise in trading volumes. This change underscores the bank’s commitment to supporting diverse client engagement methods.
Additionally, new clients opening a Bonus$aver account by 30 June 2025, with a minimum deposit of S$50,000, will receive 50 units of SPDR Straits Times Index ETF, valued at S$198. The new rates and conditions will be available on the bank’s website from 1 June 2025.
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