If you’re looking for a credit card that rewards you for saving money, then the Standard Chartered Bonus$aver Card might be just what you need. This credit card offers a high interest rate on your savings, along with other benefits that can help you maximise your savings and get the most out of your money.
One of the key features of the Standard Chartered Bonus$aver Card is its high interest rate. With a minimum spend of $500 or $2,000 per month on your Bonus$aver World Mastercard credit or debit card, you can earn up to 7.88% p.a. on your savings in your Bonus$aver Account. Even if you don’t meet the minimum spend requirement, you’ll still earn a base interest rate of 0.01% p.a. on your savings.
To maximise your savings with the Standard Chartered Bonus$aver Card, you can take advantage of investment and insurance opportunities that are available to you. You can also enjoy additional perks and considerations, such as cashback rewards and exclusive discounts. In this article, we’ll explore the benefits of the Standard Chartered Bonus$aver Card in more detail, and compare it with other savings accounts to help you make an informed decision.
Key Takeaways
- The Standard Chartered Bonus$aver Card offers a high interest rate on your savings, up to 7.88% p.a.
- You can maximise your savings with investment and insurance opportunities, and enjoy additional perks such as cashback rewards and exclusive discounts.
- Comparing the Standard Chartered Bonus$aver Card with other savings accounts can help you make an informed decision.
Key Features of the Standard Chartered Bonus$aver Card
If you are looking for a credit card that offers bonus interest rates and other benefits, the Standard Chartered Bonus$aver Card is worth considering. Here are some of the key features of this credit card:
Bonus Interest Rates
One of the main benefits of the Standard Chartered Bonus$aver Card is the bonus interest rates you can earn on your savings. You can earn up to 3.88% p.a. bonus interest on your first S$100,000 deposit balances. To qualify for the bonus interest rates, you need to meet certain requirements such as spending a minimum of S$500 on your card and crediting your salary to your Bonus$aver Account.
Eligibility and Application
To apply for the Standard Chartered Bonus$aver Card, you need to be at least 21 years old and have a minimum annual income of S$30,000. You also need to have a Bonus$aver Account with a minimum initial deposit of S$3,000 and a minimum average daily balance of S$3,000. There is no annual fee for the debit card, but there is an annual fee of S$192.60 for the credit card.
In summary, the Standard Chartered Bonus$aver Card is a credit card that offers bonus interest rates and other benefits to help you save money. If you meet the eligibility requirements and are looking for a credit card that can help you earn more interest on your savings, this card is worth considering.
Maximising Your Savings
If you are looking to maximise your savings, the Standard Chartered Bonus$aver credit card is an excellent option. With up to 7.88% p.a. bonus interest, you can earn a significant amount of interest on your savings. Here are some tips to help you make the most of your Bonus$aver account.
Optimising Salary Crediting
One way to maximise your savings with the Bonus$aver account is to optimise your salary crediting. By crediting your salary into your Bonus$aver account, you can earn up to 1% p.a. bonus interest. This is a great way to earn extra interest on your hard-earned money.
Strategic Bill Payments
Another way to maximise your savings with the Bonus$aver account is to make strategic bill payments. By paying bills through your Bonus$aver account, you can earn up to 1% p.a. bonus interest. This includes bills for utilities, telecommunications, and insurance. By paying your bills through your Bonus$aver account, you can earn extra interest on your bills.
Effective Card Spending
Finally, effective card spending is another way to maximise your savings with the Bonus$aver account. By using your Bonus$aver credit card for your everyday spend, you can earn up to 1.78% p.a. bonus interest. This includes qualifying retail transactions such as dining, shopping, and entertainment. By using your Bonus$aver credit card strategically, you can earn extra interest on your spending.
In conclusion, the Standard Chartered Bonus$aver credit card is an excellent option for high earners and big spenders looking to maximise their savings. By optimising your salary crediting, making strategic bill payments, and using your card effectively, you can earn up to 7.88% p.a. bonus interest on your savings.
Investment and Insurance Opportunities
If you’re looking to maximize your returns with the Standard Chartered Bonus$aver Account, you’ll be happy to know that there are investment and insurance opportunities available to you. Here are some of the ways you can make the most of your account:
Linking Investments
One way to earn additional bonus interest is by investing in eligible unit trusts. With a minimum subscription sum of S$30,000, you can earn an additional 1.50% p.a. bonus interest. This is a great way to grow your wealth while earning bonus interest on your account balance.
Insurance Policy Benefits
Another way to earn bonus interest is by purchasing an eligible insurance policy with a minimum annual premium of S$12,000. You’ll earn an additional 1.50% p.a. bonus interest for 12 months, giving you a great return on your investment.
In addition to earning bonus interest, there are other benefits to purchasing an insurance policy through Standard Chartered. For example, you can enjoy coverage for critical illnesses, accidents, and more. You’ll also have access to a range of investment-linked insurance policies, which can help you grow your wealth over time.
Overall, if you’re looking to maximize your returns with the Standard Chartered Bonus$aver Account, investing in eligible unit trusts or purchasing an eligible insurance policy are both great options. With the potential to earn up to 7.88% p.a. bonus interest, you can grow your wealth while enjoying the convenience and flexibility of a savings account.
Additional Perks and Considerations
Cashback and Promotions
With the Standard Chartered Bonus$aver credit card, you can enjoy various cashback and promotional offers. For instance, if you deposit and maintain S$50,000 in fresh funds, you can get an additional S$80 cashback when you credit your salary within the first 2 months of account opening. This offer is valid from 16 January 2024 till 29 February 2024. Additionally, you can earn bonus interest rates on your account by spending a minimum of S$500 on your card or crediting a minimum salary of S$3,000 per month through GIRO.
Account Management and Fees
Managing your Bonus$aver account is easy and hassle-free. You can link one or more Bonus$aver World MasterCard debit and/or credit cards to your account, and enjoy the convenience of managing all your transactions in one place. However, it’s important to note that there are certain fees associated with the account. For instance, the fall-below fee is S$5 per month, and the debit card annual fee is S$20. Additionally, the credit card annual fee ranges from S$192.60 to S$695.50, depending on the type of card you choose. Finally, if you decide to close your account early, you may be subject to an early account closure fee.
Overall, the Standard Chartered Bonus$aver credit card is a great option for those looking to earn bonus interest rates on their account balance while also enjoying various cashback and promotional offers. With easy account management and a range of fee options, this card is definitely worth considering if you’re looking for a convenient and rewarding way to manage your finances.
Comparative Analysis with Other Savings Accounts
When it comes to choosing the right savings account, it’s important to compare the different options available to you. Here, we’ll take a look at how the Standard Chartered Bonus Saver account stacks up against other popular savings accounts in Singapore.
Standard Chartered vs OCBC 360
The OCBC 360 account is a popular choice for savers in Singapore, offering a tiered interest rate structure that rewards customers for meeting certain criteria. However, when it comes to interest rates, the Standard Chartered Bonus Saver account has the edge. With a maximum interest rate of 7.88% p.a., it’s hard to beat.
Standard Chartered vs UOB One
The UOB One account is another popular choice for savers in Singapore. Like the Standard Chartered Bonus Saver account, it offers a tiered interest rate structure that rewards customers for meeting certain criteria. However, the UOB One account requires a higher minimum spend to qualify for the highest interest rates. If you’re looking for a savings account that rewards you for your spending habits, the Standard Chartered Bonus Saver account may be a better choice.
Standard Chartered vs DBS Multiplier
The DBS Multiplier account is a popular choice for savers in Singapore, offering a tiered interest rate structure that rewards customers for meeting certain criteria. However, the Standard Chartered Bonus Saver account has the edge when it comes to interest rates. With a maximum interest rate of 7.88% p.a., it’s hard to beat. Additionally, the DBS Multiplier account requires customers to have a higher minimum balance to qualify for the highest interest rates.
Overall, the Standard Chartered Bonus Saver account is a great choice for savers in Singapore. With a high maximum interest rate and a tiered interest rate structure that rewards customers for meeting certain criteria, it’s a great way to grow your savings. However, it’s important to compare the different savings accounts available to you to find the one that best suits your needs and goals.
Frequently Asked Questions
What fabulous perks come with the Bonus Saver credit card?
The Standard Chartered Bonus Saver credit card offers an array of benefits for its cardholders. You can earn up to 3.88% p.a. interest on your savings account, cashback on eligible transactions, and rewards points on your credit card spending. Additionally, you can enjoy exclusive dining, shopping, and lifestyle privileges with the card.
How can I maximise my rewards with the Bonus Saver credit card?
To maximise your rewards with the Bonus Saver credit card, you can make sure to use it for all your eligible transactions to earn cashback and rewards points. You can also keep an eye out for exclusive promotions and offers that can help you earn even more rewards. Additionally, you can link your Bonus Saver credit card to your Bonus Saver account to earn higher interest on your savings.
What’s the maximum credit limit for the Bonus Saver credit card?
The maximum credit limit for the Bonus Saver credit card depends on various factors, such as your income, credit score, and credit history. Standard Chartered will assess your application and determine your credit limit accordingly.
Could you enlighten me on the terms and conditions of the Bonus Saver card?
The Bonus Saver credit card comes with terms and conditions that you should be aware of before applying. Some of the key terms include the minimum spend required to earn cashback and rewards points, the validity period of the rewards points, and the fees and charges associated with the card. You can find the full terms and conditions on the Standard Chartered website.
What is the minimum balance requirement for the Bonus Saver account?
The minimum balance requirement for the Bonus Saver account is $3,000. You will need to maintain this minimum balance to earn the higher interest rate on your savings.
How many Bonus Saver accounts am I allowed to hold?
You are allowed to hold one Bonus Saver account per individual or joint account holder. However, you can link multiple Bonus Saver credit cards to your account to earn higher interest on your savings.