Demi Zhuang
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
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
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
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.
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~ 🙂