Get An Effective 7% Return with Standard Chartered Bonus$aver $368 Cashback Promotion

Get An Effective 7% Return with Standard Chartered Bonus$aver $368 Cashback Promotion

Written by
Demi Zhuang
Date published
January 27, 2024
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Standard Chartered Bonus$aver Savings Account

Advanced Happy Lunar New Year! If you’re new to Standard Chartered Bonus$aver Savings Account, great news!

⏳ From now till 29 February 2024 get up to $368 Cashback with $50,000 Fresh Fund Deposited.

With the Cashback reward and the Interest you could possibly get on the Cash, that’s an effective 7% Return! Let me expand on how this works.

Step by Step Guide to get $368 Cashback

1️⃣ Apply

  • Bonus$aver Current / Cheque Account
  • Bonus$aver World MasterCard Credit Card
🔗
Sign up here referral code: 83C99

2️⃣ Deposit minimum S$50,000 Fresh Funds

Done at the time of account opeining

3️⃣ Maintain Fresh Funds until End of 2nd Calendar Month

🎁
Receive $288 Cashback

4️⃣ Credit minimum S$3,000 monthly Salary to Bonus$aver Account

Done within first 2 months of account opening

Must be GIRO with code “SALA” by your employer.

‼️ You cannot do this manually via DBS and purpose as Salary

🎁
Receive $80 Cashback

🔗 Detailed T&C from the Bank

How Much Returns Overall?

Sign up Promotion Returns

Just by signing up and fulfilling the requirements you’d get 4.4% p.a. Here’s how the calculation works —

$50,000 Deposit
Returns
Hold for 60 Days
$368
Annualized Returns (%)
( $368 / 2 months ) * 12 months = $2,208 $2,208 / $50,000 *100% = 4.416%

BUT! Don’t forget, you’re not only getting the $368 Cashback from signing up…

Savings Account Interest

The Bonus$aver is a Savings Account hence you would also get interest on your deposits with the usual stuff like salary crediting, card spend, bill payments etc.

Assume you just Credit your Salary here because of the sign up promo, you’d get 2.55% p.a. Interest on $50,000.

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Overall Returns

Sign Up Reward
$368
Interest on Deposit of $50K (2 months)
$1,275 / 6 = $212.50
Total Returns / Earned
$580.50
Annualised Returns (%)
($580.50 / $50,000) = 6.966%

WAIT WHAT?! That’s 7% Returns on $50,000… Hope this helps~ 🙂

🎁
Sign up here referral code: 83C99