How to grow your wealth and savings while you focus on life's priorities

It's never too late, or early, to start thinking about building your wealth and taking charge of your financial future. The first step: a solid savings plan. And this is where interest rates play a crucial role. A high-interest savings account is essential for anyone who has significant amounts of cash savings and short-term financial goals as it will grow your money at a faster rate compared to a traditional savings account. Parking your funds in a high-yield savings account also means your money is safer and accessible.

Standard Chartered Bank's new Wealth $aver Account clearly fits the bill. Available to Standard Chartered Priority Banking customers, this savings account offers an attractive interest rate of up to 3.50 per cent per annum (p.a). Plus, you will also receive a cash reward of up to S$9,000 when you sign up for Priority Banking as a new customer.

The account also comes with additional features that make it easy for customers to manage their wealth across multiple currencies, earn cashback on their spending and enjoy dedicated wealth advisory services to make informed investment decisions. What is more, interest is calculated based on Assets Under Management (AUM), so you reap the rewards according to your banking relationship with Standard Chartered Bank. AUM is composed of all the aggregated deposits, balances, investments and insurance holdings that a client holds with the bank.

Get rewarded on your banking relationship

High-interest accounts often require customers to complete multiple tasks to earn high interest rates, such as spending on the bank's credit cards, crediting their salary to the account, paying bills, taking out home loans and making investments.

By contrast, Wealth $aver is much more straightforward. It is a simple, easy to understand savings account which awards interest according to your relationship with Standard Chartered Bank, determined by the AUM that you maintain with the bank.

In other words, the more you save, invest or insure with Standard Chartered Bank, the higher the interest rate you can unlock on your first S$500,000 deposit.

This is how the savings model works: As long as you maintain your Priority Banking status (an AUM of S$200,000 and above), you will automatically qualify for the 1 per cent interest rate on the first S$500,000. If your AUM is maintained at S$1.5 million and above, you automatically unlock 2 per cent p.a. on the first S$500, 000.

The high deposit balance cap of S$500,000 makes it ideal for those looking to earn interest on larger deposits.

Plus, for a limited time only, you can also earn a bonus interest of 1.5 per cent p.a. with a new purchase of any eligible investment or insurance products.

Boost your wealth while enjoying value-added services

Besides helping you grow your cash savings, Standard Chartered also offers you exclusive rewards when you access your funds from the Wealth $aver Account.

Multi-currency access

A smart solution for global citizens, world travellers and expatriates who have cash in multiple currencies, the account's multi-currency feature enables customers to store and transact in up to 14 currencies.

These include, the United States dollar (USD), British pound sterling (GBP), Euro (EUR), Australian dollar (AUD), Hong Kong dollar (HKD), Japanese Yen (JPY) and more.

The account charges zero transaction fees and offers competitive foreign exchange rates, making it a practical solution for those who need to execute transactions in different currencies.

For instance, if you frequently shop globally and while you travel, you can use any of the 14 currencies for your overseas purchases without incurring overseas transaction fees.

The account is also ideal for investors who can store multiple currencies in a single account in order to take advantage of investment opportunities across global markets.

Tap into wealth building opportunities

Qualified Priority Banking customers will also gain access to a suite of wealth management solutions. This includes access to a dedicated relationship manager who will offer wealth advisory services to enable customers to be better informed about their wealth management decisions.

All Priority Banking customers also enjoy access to exclusive digital wealth tools that make managing investments easier.

These include "My RM", which allows you to conveniently review and authorise investment transactions via the SC Mobile Banking app or Online Banking, as well as "My Portfolio", which lets you view your investment holdings at a glance.

Unlimited 1 per cent cashback on debit card spending

When you sign up for a Wealth $aver Account, you will also receive a metal debit card that offers unlimited 1 per cent cashback on all expenditures, with no minimum spending requirement. All your cashback will be credited directly to the Wealth $aver Account.

Since there is no cap on the amount of cashback that can be earned, this card can be particularly advantageous to those making big purchases or who have a high monthly expenditure.

As a Wealth $aver debit cardholder, you will also enjoy additional exclusive benefits such as dining privileges at Marina Bay Sands and at all Les Amis Group eateries, as well as access to luxury hotels with a complimentary 12-month HoteLux Elite Membership worth US$129 (SG$181.30).

Standard Chartered Bank's Wealth $aver Account offers Priority Banking customers a simple way to earn an attractive interest rate on a high bank balance, all while enjoying other perks that make growing your financial portfolio easier and more rewarding.

Get more information on the Wealth $aver Account.

T&Cs apply. Insured up to S$75k by SDIC.