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Standard Chartered Revises Fresh Funds Time Deposit Campaign
Standard Chartered Bank (Singapore) Limited has launched a new promotional campaign offering competitive interest rates on its Singapore Dollar (SGD) Time Deposits. Starting 27 May 2025, the campaign presents an opportunity for both new and existing customers to maximise their savings with rates of up to 1.95% per annum on a 5-month tenor, provided specific eligibility conditions are met.
Fresh Funds Required for Eligibility
To enjoy these rates, customers must place a minimum of S$25,000 in fresh funds. These funds must be newly transferred into a Standard Chartered account and must not have been held or transacted in any of the bank’s accounts within the past 30 days. This requirement ensures that only genuinely new deposits qualify, maintaining the integrity and purpose of the promotion.
Customers can deposit the funds conveniently via Online Banking or the SC Mobile app, allowing for a seamless onboarding process. This accessibility aims to encourage more customers to capitalise on the limited-time offer while simplifying the user experience.
Promotional Rates Effective from 27 May 2025
The bank has structured the interest rates according to the customer segment, offering higher yields for clients in premium tiers. The detailed rate breakdown is as follows:
| Tenor | Minimum Placement Amount (Fresh Funds in SGD) | Promotional Interest Rate |
|---|---|---|
| 5 months | S$25,000 | Personal Banking: 1.85% p.a. Priority Banking: 1.90% p.a. Priority Private: 1.95% p.a. |
It is important to note that the stated rates are only applicable if the Time Deposit is maintained until maturity at the end of the 5-month term. Customers are advised to carefully review the full terms and conditions for complete details and any restrictions that may apply.
What Constitutes Fresh Funds?
Fresh funds are strictly defined under the promotion’s terms as those not already held in any account with Standard Chartered Bank (Singapore) Limited, and which have not been withdrawn and re-deposited within the preceding 30 days. This clause prevents existing funds from cycling through accounts to qualify for new rates, thereby prioritising authentic new capital inflow.
The bank encourages interested parties, including current customers, to explore more details and begin the deposit process through their official page here.
Comparison with Previous Offers
While the current rates are slightly lower than the previous promotional offer (see earlier campaign), they continue to be highly competitive when measured against other fixed deposit products in Singapore’s banking sector.
For those evaluating their broader investment or savings strategies, a full comparison of time deposit offerings across multiple banks is accessible here. This allows consumers to make well-informed decisions based on their financial objectives and risk tolerance.
As with all financial products, customers are advised to read the terms carefully and consider their liquidity needs before committing to a fixed deposit arrangement.
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