Standard Chartered JumpStart offering up to 2.5% p.a. interest. Best for students?

TL;DR

The Standard Chartered (SC) JumpStart Account is a no-frills savings account offering an interest rate of 2.00% p.a. for the first $50,000 of deposits. You will earn an extra 0.50% p.a. step-up interest if you invest.
There are few requirements to earn the interest rate of 2.00% p.a. on the first $50,000. You will earn an interest of 0.10% p.a. for deposits above S$50,000.
The SC JumpStart Account offers the highest interest rates for deposits of up to $50,000 amongst entry-level savings accounts in Singapore.
To open an account, you need to be aged between 18 to 26 years old. Existing account holders that are over 26 years of age can still retain the SC JumpStart Account.

What happened? Standard Chartered (SC) JumpStart is now offering an interest rate of up to 2.5% p.a. for the first S$50,000 of deposits. The maximum amount of deposits to earn the interest rate of up to 2.5% p.a. has been raised from S$20,000 previously....

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