Standard Chartered Bonus$aver: Maximum interest rate cut from 7.05% p.a. to 5.85% p.a. from May 2026

What happened? 

Standard Chartered is cutting Bonus$aver rates for the second time this year.

While the current rates still apply in April 2026, a further revision from 1 May 2026 will lower the account’s maximum rate on the first S$100,000 eligible deposit balance from 7.05% p.a. to 5.85% p.a.

Still, the Standard Chartered Bonus$aver account remains one of the higher-yield savings accounts in Singapore for those willing to meet multiple banking and wealth criteria.

With lower rates coming next month, many savers may be wondering if the Standard Chartered Bonus$aver account is still worth considering. 

In this review, I’ll look at how the account works, what will change from 1 May 2026, and whether it still compares favourably with other savings accounts.

What is the Stanchart Bonus Saver (Bonus$aver) account?

The Standard Chartered Bonus$aver Account is a high-interest savings account offering a high interest rate if you are able to fulfil certain requirements. 

By meeting specific monthly criteria, you can earn interest rates of up to 7.05% per annum. To achieve this, you must:

• Credit Salary: Deposit a minimum of S$3,000 monthly via GIRO, PayNow, or FAST.
• Card Spend: Charge at least S$1,000 monthly on a Standard Chartered credit card.
• Insure: Purchase an eligible insurance policy with a minimum annual premium of S$24,000.
• Invest: Invest a minimum of S$30,000 in eligible unit trusts.

However, Standard Chartered has already announced that the Standard Chartered Bonus$aver interest rates will be revised from 1 May 2026. Here’s a look at what will change.

How will Standard Chartered Bonus$aver interest rates change from 1 May 2026?

From 1 May 2026, Standard Chartered will revise the Bonus$aver interest rates on the first S$100,000 eligible deposit balance. 

The maximum effective interest rate on the first S$100,000 will be lowered from 7.05% p.a. to 5.85% p.a., although the qualifying criteria for the bonus interest components will remain unchanged.

The biggest change is to the Invest category, which will be reduced from 2.50% p.a. to 1.50% p.a., while the Card Spend and Salary Credit bonuses will each be lowered from 1.00% p.a. to 0.90% p.a.

The Insure bonus remains unchanged at 2.50% p.a., and the prevailing interest rate stays at 0.05% p.a. This means the account still offers a relatively high headline rate, but the gap narrows meaningfully for users who rely on the Invest category to lift their returns.

Based on Standard Chartered’s revised rates, the new maximum effective interest rates effective 1 May 2026 onwards appear to be approximately:

• Salary + Card Spend: 1.85% p.a.
• Salary + Card Spend + Invest: 3.35% p.a.
• Salary + Card Spend + Insure: 4.35% p.a.
• Salary + Card Spend + Invest + Insure: 5.85% p.a.

Let me share what I like and dislike about this deposit account in the next section.

What I like about Stanchart Bonus Saver (Bonus$aver) account

#1 - Uniform interest rate regardless of deposit amount

Let’s kick things off on a positive note.

This deposit account stands out because it doesn’t use a tiered system for interest rates. Whether you have $50k or $100k in your account, you’ll earn the same interest rate on all your deposits.

This makes the interest earned on this account fairly straightforward to calculate, so long as you are able to meet the requirements of various categories. 

#2 - Multi-currency feature

Also, this deposit account comes with a multi-currency feature, which provides convenience, reduces fees, and gives you the financial agility to manage your money efficiently across borders.

It allows you to hold and transact in multiple currencies without the need for separate accounts or frequent conversions, which means more flexibility and savings. 

Whether you’re traveling, investing abroad, or making payments in different currencies, this feature helps you avoid the often hidden costs of foreign exchange fees.

What I dislike about Stanchart Bonus Saver (Bonus$aver) account

#1 - Investment and insurance required to unlock higher interest rates

So, what’s a realistic interest rate to expect with the Standard Chartered Bonus$aver (Bonus$aver) account?

If you’re able to:

• Spend at least $1,000 on your credit card
• Credit at least $3,000 monthly salary

Then, the realistic interest rate you can expect will be around 2.05% per annum—much lower than the advertised 7.05%.

This will fall further from 1 May 2026. After Standard Chartered’s upcoming rate revision effective 1st May 2026, those meeting only the salary credit and eligible card spend criteria can expect around 1.85% p.a., down from the current 2.05% p.a.

And just a heads-up, the $1,000 credit card spend must be on eligible transactions. Unfortunately, things like online bill payments, income tax payments, EZ-link transactions, top-ups, and AXS payments do not count towards the qualifying spend.

To unlock a higher interest on the Stanchart Bonus Saver account, you will need to meet the criteria for the Insure and Invest categories:

• You’ll need to purchase new insurance policies or investments to qualify.
• The bonus interest is only paid for six consecutive months, after which you'll need to make fresh purchases to continue earning the bonus rate.

Comparing the Stanchart Bonus Saver (Bonus$aver) account to the UOB One account

In the high-yield savings account category, I’ll be comparing the Stanchart BonusSaver account with the OCBC 360 and UOB One savings accounts.

When it comes to interest rates, the Stanchart BonusSaver account still outshines the UOB One savings account.

If you can meet these basic requirements such as salary credit and card spend, Stanchart BonusSaver offers a higher interest rate compared to the UOB One.

Even after the 1 May 2026 revision, Standard Chartered Bonus$aver still pulls ahead of UOB One, offering around 1.85% p.a. with salary credit and eligible card spend, versus 1.00% to 1.38% p.a. for UOB One on balances up to S$100,000.

Comparing the Stanchart Bonus Saver (Bonus$aver) account to the OCBC 360 account

If you are able to meet the investment and insurance requirements, then it might be worthwhile comparing with the OCBC 360 account. 

From 1 May 2026, both Standard Chartered Bonus$aver and OCBC 360 will offer lower interest rates on their savings accounts. 

Even so, the comparison between the two still depends on which categories you are realistically able to meet. Standard Chartered’s maximum rate will be reduced from 7.05% p.a. to 5.85% p.a., while OCBC 360’s maximum rate will be lowered from 5.45% p.a. to 4.45% p.a. on the first S$100,000.

For those who only meet the salary credit and spending criteria, the Stanchart BonusSaver offers a maximum EIR of 2.05%, while the OCBC 360 provides a higher rate of 2.45%. From 1 May 2026, OCBC 360 offers a maximum EIR of 1.95% p.a. which still comes out ahead. 

However, if you are also able to meet either the Insure or Invest category, the Stanchart BonusSaver’s rate increases to 4.55%, the OCBC 360 lags with a 3.95% EIR. This case remains even after the revisions after 1 May 2026. 

For those who meet all the criteria—Salary, Save, Spend, Insure, and Invest—the Stanchart BonusSaver offers an EIR of 7.05%, whereas OCBC 360 maxes out at 5.45%. 

1st May 2026 onwards, Bonus$aver continues to offer the higher maximum rate at 5.85% p.a., versus 4.45% p.a. for OCBC 360.

After the 1 May 2026 revisions, OCBC 360 offers a slightly better return for those meeting only the basic banking criteria, but Standard Chartered Bonus$aver still pulls ahead if you are able to meet the Insure or Invest categories.

What are the latest Standard Chartered Bonus$aver promotions?

Standard Chartered is currently running a Bonus$aver sign-up promotion from 1 April to 31 May 2026.

Get S$138 cashback when you:

• Open a Bonus$aver Savings Account and a Bonus$aver World Mastercard Credit Card.
• Deposit and maintain at least S$50,000 in fresh funds in your new Bonus$aver account upon account opening.

Fresh funds means money not existing with Standard Chartered in the recent 30 days.

Find out more about the promotion and Terms and Conditions here.

What would Beansprout do? 

The Standard Chartered Bonus$aver account may still appeal to those looking for a relatively straightforward high-yield savings account, especially if you value its multi-currency feature for travel, overseas spending, or international investing.

Even after the latest revision, it can still offer a higher return than some competing savings accounts if you are able to meet the right combination of criteria.

From 1 May 2026, however, the maximum rate will be lowered from 7.05% p.a. to 5.85% p.a. on the first S$100,000 eligible deposit balance.

That said, the headline rate still comes with fairly high hurdles.

To unlock the higher interest tiers, you would need to meet the Invest and Insure categories, while those meeting only the more basic salary credit and eligible card spend criteria would earn around 1.85% p.a. from 1 May 2026.

If you're unable to meet these requirements, you may want to consider a more basic, no-frills savings account instead. 

To find out how Standard Chartered Bonus$aver compares to other savings account in Singapore, check out our guide to the best savings accounts in Singapore. 

To find out other ways to make your savings work hard, check out our guide to best ways to earn a passive income in Singapore.

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