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Review of Standard Chartered Bonus Saver Account (after Jan 2026 revision) and how to earn bonus for every bill payment

Based on the changes effective 1 January 2026, the Standard Chartered Bank (SCB) Bonus$aver account has undergone significant revisions, particularly regarding the investment and insurance requirements needed to unlock the highest interest rates.

Here is a detailed review and guide on how to meet the criteria based on your specific requirements.

SCB Bonus$aver Review (Effective Jan 2026)

The Bonus$aver account remains one of the top-tier high-interest savings accounts in Singapore, but the bank has increased the hurdle for achieving the maximum rate.

Revised Interest Rate Structure

CategoryRequirementInterest Rate (p.a.)
Base InterestAny balance0.05%
Salary CreditMin. S$3,000 monthly1.00%
Card SpendMin. S$1,000 monthly1.00%
InvestMin. S$30,000 in Unit Trust/Equities2.50%
InsureMin. S$24,000 annual premium2.50%
Total Max RateMeet All Categories7.05%
Key Change: The investment threshold increased from S$20,000 to S$30,000, and the insurance premium increased from S$12,000 to S$24,000.

Pros and Cons

  • Pros: High maximum interest rate; interest is paid on the first S$100,000.

  • Cons: Very high criteria for maximum bonus; investment/insurance bonuses only last for 6 months before requiring fresh transactions. Realistically for most people, hitting the insurance requirement is unlikely and may not make economic sense.

How to Meet the Criteria (2026 Strategy)

Here is how to structure your banking activities to maximize interest based on your specific methods.

1. Salary Crediting (1.00% p.a.)

  • Method: Credit a minimum of S$3,000 monthly.

  • Important: This must be done via GIRO, FAST, or PayNow using the transaction reference code "SAL" to be recognized by the bank.

2. Spending Criteria (1.00% p.a.)

  • Requirement: Charge at least S$1,000 monthly to your SCB Debit / Credit Card.

  • Strategy to Maximize:

    • Use the SCB debit / credit card for daily expenses.

    • Note on AXS Payments: AXS payments are excluded as qualifying card spend in the T&Cs but so far it was counted to meet the card spend criteria when I used my SC Bonus Saver Debit Card and make credit card bill payments on AXS website / mobile app. 

    • You can also earn points for every bill payment made on AXS mobile app which can be offset with future bill payments! Sign up here and earn 50 coins for your first bill payment with this referral code HM3U6RU2

3. Investment Criteria (2.50% p.a.)

  • Requirement: Invest a minimum of S$30,000 in eligible Unit Trusts or Online Equities.

  • Strategy:

    • Equities: Log in to SC Online Trading and execute buy trades totaling at least S$30,000 in a calendar month.

    • Unit Trusts: Subscribe to eligible funds through the SCB platform.

  • Retention Requirement: You must hold these investments for at least 6 months to enjoy the bonus interest for that period. If you sell before 6 months, you will lose the bonus interest for the remaining months.

Summary of Strategy for 6-Month Period

To earn the a realistic rate of 4.55%p.a. on your balance for the next 6 months:

  1. Deposit up to S$100,000 into the account.

  2. Set up salary credit of S$3,000+.

  3. Spend S$1,000 on your SCB Credit / Debit Card.

  4. Invest S$30,000 in a qualifying fund or equity and do not sell for 6 months.

It's still one of the best rate in town right now in the current low interest rate environment, so it's definitely worth considering!



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