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Standard Chartered Wealth $aver Review 2023: Multi-Currency Access and Attractive Lifestyle Perks

Yen Joon

Yen Joon

Last updated 19 December, 2022

With the latest promotion offering up to 5% p.a. interest rate for the 1st six months of deposit, Standard Chartered’s Wealth $aver could be an attractive option for those looking to make their cash work harder. Learn more about its other features to decide if this priority banking is the one for you. 

With the equities market in the red, you may be looking to park your money in low-risk investments where your money can grow safely. One such investment is the Wealth $aver priority banking account, which offers an interest rate of up to 5% p.a. (for new account holders signing up from 1 Nov 2022 – 31 Jan 2023). 

On top of that, you’ll also earn unlimited 1% cashback on all debit card spends and earn up to S$9,000 when you open a Wealth$aver account with Standard Chartered.

How the Wealth $aver account works

The Wealth $aver account is the first deposit account in Singapore where you’ll earn interest based on the total asset under management (AUM) you have with the bank, which includes cash deposits and insurance and investment products. 

To open a Wealth $aver account, you must be a priority banking or private banking customer with Standard Chartered and have at least S$200,000 worth of AUM with the bank.

Read also: Priority Banking In Singapore: How Does It Help To Grow Your Wealth? 

Standard Chartered Wealth$aver Welcome Gift: Receive up to 650,000 KrisFlyer miles or up to S$13,000 cash when you start a Priority Banking relationship with Standard Chartered and complete additional actions. T&Cs apply.

Below is the base interest rate you can earn based on your total AUM:

Total AUM

Interest rate p.a.

Less than S$200,000


S$200,000 to below S$1.5m

1% (first S$500,000), 0.05% (above S$500,000)

S$1.5m or more 

2% (first S$500,000), 0.05% (above S$500,000)

However, as part of its Wealth Booster campaign (which runs until 31 January 2023), you can earn up to 5% interest, or an additional 1.5% more, on the first S$500,000 of your account balance. 


Interest rate p.a.

Interest rate from the Wealth Booster promo (with purchase of eligible investment products/insurance)

Total interest earned p.a. (on the first S$500,000)

Less than S$200,000




S$200,000 to below S$1.5m




S$1.5m or more 



+1.5% for new deposit for 1st 6 months (till 31 January 2023)


The additional 1.5% interest for a year is only available to you provided that your AUM is at least S$200,000 and you purchase either S$120,000 worth in investment products (bonds, structured notes, unit trusts) or an insurance product worth at least S$20,000 within a calendar month.

For new account holders, you will earn an additional 1.5% on your average daily balance on your Wealth $aver account for 6 calendar months starting from your Wealth $aver account opening month if you qualify for the sign-up promotion.

note that the 5% interest is capped for the first S$500,000; if you have more than S$500,000 or if you don’t meet the relevant criteria, the interest rate is 0.05% per annum. 

What are the benefits of the Wealth $aver account?

1. Earn a high-interest rate of up to 5% p.a. in a straightforward manner

The main draw of the Wealth $aver account is that you can earn up to 5% p.a. based on your total AUM held and the amount of investment you make with Standard Chartered. 

So unlike most other priority banking accounts out there which require you to hit several eligibility criteria, the premise of Wealth $aver is much simpler; you don’t have to spend a certain amount, take a home loan with the bank, or credit your monthly salary to unlock additional interest rates. 

2. Get unlimited 1% cashback on debit card spend

You’ll also get your own debit card that’s linked to your Wealth $aver account. The card earns you unlimited 1% cashback on your transactions. But note that some transactions such as payments of insurance premiums, income tax payments, and online bill payments, are excluded. 

3. Enjoy the financial and lifestyle benefits of a priority banking customer

Being a priority banking customer will allow you to enjoy financial and lifestyle perks, such as having your own dedicated relationship manager, priority queues at banks, and better interest rates for loans, among other things.


4. Access to a multi-currency account 

You can transact up to 14 currencies with your Wealth $aver account. Not only do you get competitive FX rates for international transactions, but you can also pay for foreign transactions without incurring overseas transaction fees. 


5. Get up to S$9,000 cash reward when you join priority banking

As part of the priority banking and priority private Q4 2022 sign-up promotion, you can earn up to S$9,000 cash reward provided that you:

  • You’re at least 21 years old 
  • Open a Wealth $aver account by 31 December 2022
  • Place a minimum of S$200,000 of fresh funds within three months of opening the account
  • Be an accredited investor with an annual income of at least S$300,000 in the last 12 months, or have financial assets more than S$1 mil, or personal assets more than S$2 mil

Depending on the total value of the fresh funds you have within three months of opening your Wealth $aver account, below is the amount of cash reward you’re eligible to receive:

Total value of funds

*Cash reward

S$200,000 to less than S$500,000


S$500,000 to less than S$800,000


S$800,000 and above


S$1.5 mil and above


*The funds need to be maintained for 6 months in order to qualify for the cash reward (not stackable with SingSaver Exclusive Offer).



Wealth $aver account vs other priority banking accounts

How does the Wealth $aver account fare against other priority banking accounts out there in terms of interest rate earned? Here's a quick comparison. 


Interest rate p.a.

Standard Chartered Wealth $aver

Up to 5%

OCBC Premier Banking

Up to 3% 

UOB Privilege Banking

Up to 2.3%

HSBC Premier

Up to 1.55%

Citi Wealth First Account

Up to 7.51%

Maybank Premier



Wealth $aver account eligibility

The Wealth $aver account is available to Singapore Citizens, Singapore Permanent Residents, and foreigners who are at least 18 years old and are a priority banking or private banking customer with Standard Chartered. 


How to apply?

You can apply online with MyInfo via SingPass. For Singapore Citizens and PRs, you can also visit any Standard Chartered branches and apply with your NRIC.

For foreigners applying at Standard Chartered branches, you will need to bring a copy of your passport, Employment Pass, and at least one of the following:

  • Latest utility bill, rates, or tax bill
  • Latest bank/credit card statement
  • Rental agreement with your address
  • Mobile phone statement or pay-TV statement
  • Employment letter with your current address 


Is Wealth $aver for you?

Ultimately, the Wealth $aver account offers a straightforward product: a priority banking account that earns you a relatively good interest without the hassle of meeting different tiers.

You’ll earn a base interest based on the total AUM that you have with the bank, and any additional interest earned depends on the amount of investments and insurance products that you have with the bank. 

As such, the Wealth $aver account is for you if your aim is to earn a high interest based on the investments that you have with the bank. 

Read these next:

A Full Guide To Priority Banking In Singapore (2022)
HSBC Premier Banking Review (2022): What’s In It For You?
Priority Banking vs Private Banking: What You Enjoy When You Cross The Last Hurdle
Normal Banking Vs Priority Banking: Which Should I Choose?
Why a Priority Banking Account Makes Sense in a Recession
Best Standard Chartered Credit Cards in Singapore

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