If you’re looking for a credit card that offers a range of benefits and rewards, the Bonus$aver World Mastercard from Standard Chartered Bank in Singapore could be an excellent option. This credit card offers a range of features and benefits that can help you save money and earn rewards on your spending. In this article, we’ll take a closer look at the Bonus$aver World Mastercard and explore its key features, benefits, and how you can use it to maximise your savings.
One of the key features of the Bonus$aver World Mastercard is that it is linked to the Bonus$aver Account from Standard Chartered Bank. This account offers a range of benefits, including bonus interest rates on your deposits, cash rebates on your spending, and a range of other rewards. By using your Bonus$aver World Mastercard in conjunction with your Bonus$aver Account, you can earn even more rewards and benefits, making it an excellent choice for those looking to maximise their savings.
Understanding the spending criteria for the Bonus$aver World Mastercard is also important if you want to make the most of its rewards and benefits. You’ll need to spend a minimum amount each month to qualify for the bonus interest rates and cash rebates, so it’s important to plan your spending carefully. However, if you can meet the spending criteria, you’ll be able to enjoy a range of benefits and rewards that can help you save money and earn more on your deposits.
Key Takeaways
- The Bonus$aver World Mastercard from Standard Chartered Bank in Singapore offers a range of benefits and rewards that can help you save money and earn more on your spending and deposits.
- By linking your Bonus$aver World Mastercard to your Bonus$aver Account, you can earn even more rewards and benefits, making it an excellent choice for those looking to maximise their savings.
- Understanding the spending criteria for the Bonus$aver World Mastercard is important if you want to make the most of its rewards and benefits. By planning your spending carefully, you can qualify for bonus interest rates and cash rebates that can help you save money.
Key Features of the Bonus$aver World Mastercard
If you’re looking for a credit card that offers bonus interest and exclusive privileges, the Bonus$aver World Mastercard from Standard Chartered is worth considering. Here are some of its key features:
Earn Bonus Interest
The Bonus$aver World Mastercard allows you to earn bonus interest on your savings when you meet certain criteria. You can earn up to 7.88% p.a. on your savings in your Bonus$aver account with a minimum spend of $500 or $2,000 per month on your Bonus$aver World Mastercard Credit or Debit Card. Even if you don’t meet the minimum spend requirement, you can still earn a prevailing base interest of 0.01% p.a. on your savings in months that you don’t meet the $500 spend requirement on all savings below $200,000.
Exclusive Mastercard Privileges
As a Bonus$aver World Mastercard holder, you can enjoy a range of exclusive privileges offered by Mastercard. These include:
- Mastercard Priceless Cities: Access to exclusive experiences and offers in major cities around the world.
- Mastercard Airport Experiences: Complimentary access to airport lounges and other travel benefits.
- Mastercard Golf: Exclusive golf offers and experiences at some of the world’s most prestigious golf courses.
- Mastercard Concierge: 24/7 assistance with travel, dining, entertainment, and more.
In addition to these exclusive privileges, the Bonus$aver World Mastercard also offers other benefits such as cashback on dining and petrol, and discounts on shopping and entertainment.
Overall, the Bonus$aver World Mastercard is a credit card that offers a range of benefits and rewards for those who meet its criteria. If you’re looking for a credit card that can help you earn bonus interest and enjoy exclusive privileges, the Bonus$aver World Mastercard is definitely worth considering.
Maximising Savings with the Bonus$aver Account
If you’re looking to maximise your savings, the Bonus$aver Account from Standard Chartered Singapore is a great option. This account offers high-yield interest rates on your deposits, making it an attractive choice for those looking to grow their savings.
High-Yield Interest Rates
The Bonus$aver Account offers up to 3.88% p.a. bonus interest on eligible deposit balances of up to S$100,000. To earn this interest rate, you’ll need to meet the requirements under each of the account’s five main pillars. These include spending a minimum of S$500 on your Bonus$aver World Mastercard Credit Card, crediting your salary to the account, and making bill payments through GIRO.
Salary Crediting and Bill Payments
Crediting your salary to your Bonus$aver Account is a great way to earn bonus interest on your deposits. You can earn up to 1.78% p.a. bonus interest based on your level of engagement with Standard Chartered products, such as credit cards, insurance, home loans, and investments.
Making bill payments through GIRO is another way to earn bonus interest on your deposits. You can earn up to 0.88% p.a. bonus interest by making at least three bill payments of at least S$50 each per month.
Overall, the Bonus$aver Account is a great option for those looking to maximise their savings. With high-yield interest rates and a range of ways to earn bonus interest, this account is definitely worth considering.
Understanding the Spending Criteria
If you’re considering getting a Bonus$aver World Mastercard credit card in Singapore, it’s important to understand the spending criteria that come with it. In this section, we’ll go over the minimum spend requirements and eligible transactions for the Bonus$aver card.
Meeting the Minimum Spend
To earn bonus interest on your savings in your Bonus$aver account, you’ll need to meet the minimum spend requirements each month. The minimum spend requirement is $500 per month, or $2,000 per month if you want to earn the highest bonus interest rates.
You can meet the minimum spend requirement by using your Bonus$aver World Mastercard credit or debit card for eligible transactions. If you don’t meet the minimum spend requirement in a given month, you’ll still earn prevailing base interest of 0.01% p.a. on your savings in your Bonus$aver account for that month.
Eligible Transactions
Not all transactions are eligible for the minimum spend requirement. To earn bonus interest, you’ll need to use your Bonus$aver World Mastercard credit or debit card for eligible transactions, such as:
- Retail transactions
- Online purchases
- Dining
- Groceries
- Entertainment
- Transport
Please note that cash advances, balance transfers, and annual fees are not eligible for the minimum spend requirement.
In addition to using your Bonus$aver card for eligible transactions, you can also earn bonus interest by credit your salary of at least $3,000 per month through GIRO to your Bonus$aver account. You can also earn bonus interest by investing in eligible unit trusts through Standard Chartered Bank.
Overall, understanding the spending criteria for the Bonus$aver World Mastercard credit card in Singapore is essential if you want to earn bonus interest on your savings. By meeting the minimum spend requirements and using your card for eligible transactions, you can maximize your savings and earn attractive interest rates.
Fees and Charges
Annual Fee Information
When it comes to credit cards, fees and charges are an important consideration. With the Bonus$aver World Mastercard credit card from Standard Chartered Singapore, you can enjoy a range of benefits without having to pay an annual fee. That’s right – there is no annual fee for this credit card!
Other Relevant Charges
While there is no annual fee, there are other charges that you should be aware of. For instance, if you make a late payment or exceed your credit limit, you may be charged a fee. Additionally, if you use your Bonus$aver World Mastercard credit card to withdraw cash from an ATM, you may be charged a cash advance fee.
It’s also worth noting that foreign currency transactions may be subject to a foreign transaction fee. This fee is typically a percentage of the transaction amount, and it can add up quickly if you frequently use your credit card for international purchases.
To avoid any surprises, it’s a good idea to carefully review the terms and conditions of your Bonus$aver World Mastercard credit card. This will give you a clear understanding of all the fees and charges associated with your card, so you can make informed decisions about how and when to use it.
Overall, the Bonus$aver World Mastercard credit card from Standard Chartered Singapore is a great option for anyone looking for a credit card with no annual fee. With a range of benefits and rewards, it’s a smart choice for savvy consumers who want to make the most of their spending.
Comparing Bonus$aver with Other Accounts
If you’re looking for a high-yield savings account in Singapore, you’ve probably come across the Standard Chartered Bonus$aver account. However, it’s important to compare it with other options to decide which one is the best for you.
OCBC 360 and UOB One Comparison
Two of the most popular savings accounts in Singapore are the OCBC 360 and UOB One accounts. The OCBC 360 account offers up to 2.45% p.a. interest on your savings, while the UOB One account offers up to 2.50% p.a. interest.
Compared to the Bonus$aver account, these accounts have lower interest rates. However, they also have fewer requirements to earn the interest. For example, the UOB One account only requires you to maintain a minimum balance of $500 and spend $500 on your credit card each month to earn the interest.
On the other hand, the Bonus$aver account requires you to jump through more hoops to earn the bonus interest. You need to credit your salary, pay bills online, and spend on your Bonus$aver World MasterCard credit card to earn the bonus interest.
Deciding the Best Option for You
Deciding which account is the best for you depends on your personal financial situation and goals. If you’re looking for a high-yield savings account with minimal requirements, the OCBC 360 or UOB One accounts may be a better option for you.
However, if you’re willing to put in the effort to meet the requirements, the Bonus$aver account can offer higher interest rates. Plus, the Bonus$aver World MasterCard credit card comes with additional benefits such as cashback and rewards points.
Ultimately, it’s important to do your own research and compare the different accounts to decide which one is the best for you.
Frequently Asked Questions
What exciting benefits can I expect with the Bonus Aver World Mastercard?
With the Bonus Aver World Mastercard, you can enjoy up to 7.88% p.a. on your savings in your Standard Chartered Bonus Saver Account when you spend a minimum of $500 or $2,000 per month on your Bonus Aver World Mastercard Credit or Debit Card. You can also earn a prevailing base interest of 0.01% p.a. on your savings in months that you don’t meet the $500 spend requirement on all savings below $200,000.
How does the Bonus Saver credit card enhance my savings?
The Bonus Saver credit card enhances your savings by offering you bonus interest rates when you spend on your card. The more you spend, the higher the bonus interest rate you can earn on your Bonus Saver Account. This means you can earn more interest on your savings and grow your wealth faster.
What are the terms and conditions I should be aware of for the Bonus Saver credit card?
It is important to be aware of the terms and conditions of the Bonus Saver credit card. For example, you must spend a minimum of $500 or $2,000 per month on your Bonus Aver World Mastercard Credit or Debit Card to earn the bonus interest rate. You must also maintain a minimum balance of $3,000 in your Bonus Saver Account to avoid monthly fees.
How much do I need to maintain as a minimum balance in my Standard Chartered Bonus Saver account?
You need to maintain a minimum balance of $3,000 in your Standard Chartered Bonus Saver account to avoid monthly fees. However, if you are a new customer, you can enjoy a waiver of monthly fees for the first 6 months.
What’s the buzz about the Bonus Saver debit card compared to the credit card?
The Bonus Saver debit card offers many of the same benefits as the Bonus Saver credit card, including bonus interest rates on your savings. However, the debit card does not require you to spend a minimum amount each month to earn the bonus interest rate. This makes it a great option for those who prefer to use a debit card instead of a credit card.
How can I maximise the bonus interest rate with my Standard Chartered Bonus Saver account?
To maximise the bonus interest rate with your Standard Chartered Bonus Saver account, you should spend a minimum of $500 or $2,000 per month on your Bonus Aver World Mastercard Credit or Debit Card. You should also maintain a minimum balance of $3,000 in your Bonus Saver Account to avoid monthly fees. Additionally, you can consider linking multiple Bonus Saver Cards to your Bonus Saver Account to earn bonus interest rates on all your spending.