Last updated on June 6th, 2021

If you have taken a Tuition Fee Loan with OCBC, you may have created a FRANK account. However, you may also have heard that the Standard Chartered JumpStart Account is the best account for students. Which account should you be using for spending and saving? Here’s a breakdown of what these 2 accounts offer:

Type of Account

JumpStart is a Standard Chartered account, while FRANK is an OCBC account. As such, both of them are normal savings account. They are both protected under the Deposit Insurance Scheme. If the bank happens to close down, you are insured up to $75k.

Interest rate

Both bank accounts have a tiered interest rate, depending on the amount that you have in your account.

Tier	FRANK	JumpStart
Tier 1	0.1% for first $25k	0.4% for first $20k
Tier 2	0.2% for next $25k	0.1% for any amount above $20k
Tier 3	0.05% for

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