The account comes with eStatements and you can choose to have a chequebook (chequebook facility is not available for Bonus$aver accounts opened through an online application). Show What are the benefits of Bonus$aver? Unlike other current and savings accounts, Bonus$aver is a unique account offering interest rates that are higher than any time deposit. You can earn up to 3.88% p.a. interest for up to S$100,000 deposit as you consolidate your spends, salary credit, bill payments and wealth needs with just a single account. How is the interest calculated? You can earn up to 3.88% p.a. interest on the first $100,000 Average Daily Balance in your Bonus$aver account. Your will receive 2 types of interest on your account balance every month. Prevailing interest: Deposit BalanceInterest RateLess than $200,0000.10% p.a.$200,000 and above0.20% p.a. This interest is accrued daily. You will receive this interest at the end of every month. You earn bonus interest on the first S$100,000 of your account average daily balance when you do any or all of these:
On the months you do less of the above transactions, you will earn the relevant lesser bonus interest. You will receive this interest by the end of the following month. MonthAverage daily balance (ADB) in Bonus$aver accountEligible bonus interest tiersInterest earned on the deposit balance (p.a.)JulS$100,000Spent $2,000 on Bonus$aver Credit/Debit cardTotal interest of 1.88% on $100,000AugS$30,000Spent $300 on Bonus$aver Credit/Debit cardPrevailing interest of 0.1% on $30,000#SepS$100,000
# Prevailing interest is calculated based on the deposit balance at the end of each day. The illustration assumes that the end-of-day deposit balance for each day in the month is the same (i.e. equivalent to the average daily balance). Note: The Bank reserves the right to revise interest rates at any time without notice. Is there a maximum amount of bonus interest that I can receive? Yes. The average daily balance eligible for bonus interest is subject to a cap of S$100,000 per Bonus$aver account. Any average daily balance amount in excess of the cap is not eligible for bonus interest (but the prevailing interest rates will apply). When will I receive my bonus interest? Bonus interest will be credited to your Bonus$aver account by the end of the following month. How will I know that the bonus interest is credited into my Bonus$aver Account? Your bonus interest will be reflected in your e-statement, Online Banking and Mobile Banking transaction history as: If you close your account before the bonus interest crediting date, the bonus interest for the previous month will not be credited. If the balances in my Bonus$aver account earn bonus interest, will it still continue to earn prevailing interest? Yes, bonus interest is in addition to the prevailing interest rates, and the total interest you can receive is a maximum of 3.88% p.a. Prevailing interest will be calculated daily and credited monthly. If I close my Bonus$aver account before the interest crediting date, will I still be paid any interest? If you close your Bonus$aver account before the end of the month, prevailing interest will be paid up to the day before account closure. You will not be paid any bonus interest. Any bonus interest paid prior to account closure will not be clawed back. Is there a monthly fee payable for the Bonus$aver account? There is no monthly fee. Is there a minimum deposit amount required to open the Bonus$aver account? There is no minimum deposit amount required to open the Bonus$aver account. You can open the Bonus$aver account with as little as S$1. Is there a minimum balance that needs to be maintained for my Bonus$aver account? A fall below fee of S$5 per calendar month will be charged if your average daily balance in your Bonus$aver account for that calendar month is less than S$3,000. How can I open a Bonus$aver Account? You can open a Bonus$aver account at any of our branches or through online application at sc.com/sg/bonussaver/ How can I use MyInfo service to apply for Online Bonus$aver account? You can apply for a Bonus$aver account online using your personal particulars from the MyInfo portal by proceeding with the following 2 steps:
For more FAQs on MyInfo, please click here. To know more about MyInfo, please click here. Can I open more than one Bonus$aver Account? Each customer is only allowed to open up to THREE (3) Bonus$aver accounts where he/she is the Primary Account holder. The signing mandate can be either signed singly or joint alternate. How do I deposit funds into my Bonus$aver account? You can deposit funds into Bonus$aver via:
How do I withdraw funds from Bonus$aver? You can withdraw funds from Bonus$aver via:
Can I use the money in my Bonus$aver account? Yes you can. There is no lock-in period for this account. You can withdraw money with a debit card and/or access your money through SCB Online Banking or SC Mobile (Breeze). Credit or Debit Card Spend Bonus
Salary Credit Bonus
Bill Payment Bonus
Invest or Insure Bonus
e$averProcesses
General/Product Features
Some Internet Banking Queries
Deposit Insurance SchemeWith effect from 1 May 2011, the Deposit Insurance Scheme comes under the Deposit Insurance And Policy Owners' Protection Schemes Act 2011, with the following material changes:
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