 We are now on Telegram. Click to join |
New Time Deposit Promotion from 6 June 2025
Fresh Funds Can Earn Up to 1.8% p.a. with Revised Time Deposit Campaign
Standard Chartered Bank (Singapore) Limited has revised its Singapore Dollar Time Deposit promotion effective 6 June 2025. With interest rates going up to 1.8% per annum for a 5-month term, the bank aims to appeal to both new and existing customers looking for short-term, stable, and secure savings instruments.
Minimum Deposit & Fresh Fund Criteria
To be eligible for this time-limited promotional rate, customers are required to place a minimum deposit of S$25,000 in fresh funds. “Fresh funds” specifically refer to money that has not been deposited, withdrawn, or transacted within any Standard Chartered account over the past 30 calendar days. This condition ensures genuine new inflows rather than recycled deposits from existing account holders.
Deposits can be conveniently placed using the bank’s digital platforms – via Online Banking or the SC Mobile app – reinforcing the bank’s commitment to digital-first banking and streamlined customer experiences.
Breakdown of Promotional Rates
Standard Chartered’s latest revision introduces tiered interest rates depending on the banking relationship level:
| Tenor | Minimum Placement (SGD, Fresh Funds) | Interest Rate (p.a.) |
|---|---|---|
| 5 months | S$25,000 | Personal Banking: 1.75% Priority Banking: 1.80% Priority Private: 1.80% |
These rates are guaranteed over the deposit term, provided that the full amount remains untouched until maturity. Early withdrawal may either result in partial interest payment or complete forfeiture of interest, as stipulated in the terms and conditions.
Eligibility Reinforced Through Fresh Fund Definition
To maintain the integrity of the promotional offer, Standard Chartered reiterates its stringent classification of “fresh funds”. Only funds not previously transacted within the bank’s system during the preceding 30 days will qualify. This measure is designed to prevent fund cycling and encourage genuine new deposit inflows.
Further information and detailed eligibility conditions can be found on the official promotional page here.
Terms and Conditions
Customers interested in participating are urged to familiarise themselves with the terms and conditions provided by the bank. These outline key details, including withdrawal policies, maturity instructions, and implications of early termination.
How This Compares to Previous Promotions
This latest offering follows closely after the earlier 2 June 2025 promotion, which featured a slightly higher rate of 1.9% p.a. (see earlier campaign). Despite the small rate reduction, the current campaign remains highly competitive in Singapore’s fixed deposit landscape, especially for customers valuing certainty over speculative market-linked returns.
For those exploring other banks’ offerings or trying to identify optimal returns across tenure options, refer to the comprehensive comparison guide available here.
Ultimately, the decision to invest in a time deposit should be balanced against one’s short-term liquidity needs, investment goals, and appetite for locked-in funds. Standard Chartered’s structured promotional terms aim to reward serious savers while maintaining banking system inflows.
Leave a Reply