- 1.88% per annum applicable only to the 1st S$25,000; subsequent amounts revert back to prevailing interest rates (I could not quite find what this rate is, but I reckon it will be a low percentage similar to other local banks).
- You need to charge a minimum of S$500 to any linked credit / debit card ...
In the spirit of good personal finance, I decided to do regular reviews of financial products that I come across and find to be interesting.
What caught my eye today was this advertisement on Bonus$aver by Standard Chartered plastered everywhere in shopping malls that screamed “1.88% p.a. on your savings!”. That is indeed an eye catching message considering how local banks give only about 0.05% per annum. I went to the nearest Standard Chartered Bank, took one of their pamplets and decided to evaluate it.
Bonus$aver – Terms & Conditions
