Standard Chartered Priority Banking Singapore 2026: Benefits, Rates & Referral Programme
Standard Chartered Priority Banking gives you access to wealth management, preferential interest rates, and lifestyle perks — starting from S$200,000 in assets. Here’s everything you need to know, including the MGM referral programme that rewards both you and your friends.
Table of Contents
- What Is Standard Chartered Priority Banking?
- How to Qualify for SC Priority Banking
- Wealth $aver Account: Interest Rates Breakdown
- Key Priority Banking Benefits
- MGM Referral Programme: Earn Up to S$2,500 Per Referral
- Sign-Up Rewards: Over S$60,000 in Welcome Gifts
- How to Sign Up
- Frequently Asked Questions
What Is Standard Chartered Priority Banking?
Standard Chartered Priority Banking is the bank’s premium banking tier for clients who maintain at least S$200,000 in Assets Under Management (AUM). It sits below Priority Private (S$1.5 million+) but above the standard retail banking tier, giving you access to dedicated relationship managers, wealth advisory, and preferential rates across deposits, investments, and credit cards.
What makes SC Priority Banking stand out in Singapore is the combination of competitive deposit rates through the Wealth $aver Account, a strong international banking network spanning 20 markets, and a generous rewards ecosystem that includes the Beyond Credit Card and 360° Rewards programme.
If you’re comparing priority banking options across Singapore banks, SC’s S$200,000 entry point is on par with competitors like DBS Treasures and OCBC Premier Banking. But the interest rate structure and referral rewards give it an edge worth considering — especially if you already hold S$200K or more in savings and investments. For context on how these rates stack up, see our Bank Account Interest Rates Singapore 2026 comparison.
How to Qualify for SC Priority Banking
There are two routes to qualify:
Route 1: S$200,000 in AUM. Your Assets Under Management includes total deposits (including time deposits), investment products held with the bank, and total premiums paid on eligible insurance products purchased through the bank. This means you don’t need S$200K in pure cash — a mix of deposits, unit trusts, bonds, and insurance premiums counts.
Route 2: S$1.5 million in housing loans. If you have at least S$1.5 million in mortgage loans with Standard Chartered, you automatically qualify for Priority Banking even without meeting the AUM threshold.
To open the account, you’ll need to apply for a Wealth $aver or USD$aver account and fund it with at least S$200,000 in fresh funds. The application can be done online via SingPass MyInfo (no documents needed) or at any SC branch with your NRIC.
Wealth $aver Account: Interest Rates Breakdown
The Wealth $aver Account is exclusively for Priority Banking clients and offers one of the more competitive deposit rate structures among Singapore’s premium banking accounts. Here’s how the interest builds across three components:
SGD Deposit Interest (Capped at S$2 Million)
| AUM Tier | Relationship Rate |
|---|---|
| Below S$200,000 | 0.05% p.a. |
| S$200,000 – below S$1.5M | 0.40% p.a. |
| S$1.5 million and above | 0.80% p.a. |
On top of the relationship-based rate, you can earn up to 1.00% p.a. in Wealth Booster bonus interest by investing at least S$200,000 in eligible unit trusts, bonds, or structured notes — or purchasing insurance with at least S$24,000 in annual premiums — within a calendar month. New-to-deposit clients get the full 1.00% for 6 months; existing clients get 0.50%.
There’s also a Top-Up Promotion offering an additional 0.50%–1.00% p.a. for fresh fund top-ups of S$200K–S$1M+, held for 3 months.
All in, the maximum SGD rate reaches 2.80% p.a. on up to S$2 million.
USD Deposit Interest (Capped at US$2 Million)
The USD rates are even more attractive. With AUM of S$1.5M+, you earn a base rate of 2.00% p.a., plus the same Wealth Booster and Top-Up bonuses. The maximum USD rate reaches 4.00% p.a. on up to US$2 million — one of the highest USD savings rates available in Singapore without a lock-in period.
The Wealth $aver debit card also earns 1% unlimited cashback on all local and foreign spends with no minimum spend or cashback cap, plus zero overseas transaction fees. For more on multi-currency spending, see our guide on Multi-Currency Debit Cards in Singapore.
Key Priority Banking Benefits
Beyond the deposit rates, SC Priority Banking offers a comprehensive suite of benefits:
Dedicated Relationship Manager: You get an INSEAD-trained RM and a team of wealth specialists. Access your RM anytime through the myRM feature on SC Mobile.
Wealth Solutions & CIO Insights: Access the full suite — unit trusts (0.61% online sales charge for Priority clients), online equity trading from 0.18% brokerage on 14 global exchanges, LiveFX currency conversion, bonds, structured products, and bancassurance. You also get access to the bank’s Chief Investment Office house views and myWealth Advisor, a personalised investment planning tool. For investors looking to diversify, this complements platforms like Endowus and Syfe.
International Banking: Your Priority status is recognised across 20 markets globally. Open accounts remotely and make free international transfers to 50+ markets via SC Remit.
Beyond Credit Card: Earn up to 8 miles per S$1 on overseas dining, get a complimentary Business Class upgrade when you purchase one Business Class and one Premium Economy ticket on partner airlines (up to 2x per card year), and enjoy birthday meals at Michelin-starred restaurants with 15% off at 25+ dining venues. See our Best Credit Card for Overseas Spending guide for how the Beyond Card compares.
Priority Pass & Travel: With the Priority Banking Visa Infinite Card, you get complimentary access to 1,000+ airport lounges worldwide. SC also reimburses your APEC Business Travel Card application fee for fast-track entry across 19 APEC economies.
360° Rewards: Earn reward points across your entire banking relationship — deposits, investments, spending — and redeem for miles, cash, or other rewards.
MGM Referral Programme: Earn Up to S$2,500 Per Referral
Standard Chartered runs an ongoing Member-Get-Member (MGM) referral programme that rewards existing Priority Banking clients for referring friends and family. Here’s the reward structure for the referrer:
| Fresh Funds Placed by Referee | Your Reward (Referrer) |
|---|---|
| S$200,000 to below S$1.5 million | S$800 account credit |
| S$1.5M to below S$3M (Priority Private + AI consent) | S$1,600 account credit |
| S$3 million and above (Priority Private + AI consent) | S$2,500 account credit |
The referred person also receives sign-up rewards (up to S$60,000+ in welcome gifts — see below), so both sides benefit.
How the Referral Works
The MGM programme uses a unique referral link system, not a static referral code. Here’s the process:
- Existing SC Priority Banking client fills in a referral form on the SC Priority Banking Referral Programme page.
- SC generates a unique referral link tied to the referrer’s account.
- The referrer shares this link with their friend or family member.
- The referred person signs up through the link and places the required fresh funds.
- Once the referral is verified, the referrer receives the account credit.
You can refer someone residing in Singapore or overseas. For overseas referrals, the referred person can open an SC Priority Banking account in Singapore remotely without travelling here — a unique advantage of SC’s international banking network.
Want to sign up through my referral? Drop me a message and I’ll send you my unique referral link. You’ll receive all the sign-up rewards, and we both benefit from the programme.
[SEAN: Add your contact method or referral link here. The SC MGM programme generates a unique link per referral via their online form — you’ll need to submit the form at sc.com/sg/priority/mgm-referral-programme to get your link for each referral.]
Sign-Up Rewards: Over S$60,000 in Welcome Gifts
The Q3 2026 sign-up promotion (valid 1 July – 30 September 2026) offers new-to-bank customers an impressive total reward package. Here’s the breakdown:
| Reward Component | Maximum Value |
|---|---|
| Cash Reward or Signature CIO Fund (NTB Campaign) | Up to S$8,000 |
| Wealth Cash Reward (S$200 per S$50K UT purchase) | Up to S$6,000 |
| Wealth $aver deposit interest (S$2M @ 2.80% for 6mo) | Up to S$18,000 |
| Time Deposit interest (S$3.5M @ 1.60% for 6mo) | Up to S$28,000 |
| Bonus$aver interest (S$100K @ 5.85% for 6mo) | Up to S$2,925 |
The headline “over S$60,000” requires significant capital deployment across multiple products, but even at the entry level of S$200,000, you’ll receive a S$350 cash reward (or S$700 in Signature CIO Fund), plus the Wealth $aver interest and any applicable Wealth Booster bonus. That’s a solid deal compared to most savings accounts — check our Savings Plan Singapore 2026 comparison for alternatives.
How to Sign Up for SC Priority Banking
- Apply online at sc.com/sg/priority/sign-up — Singaporeans/PRs can use SingPass MyInfo for instant verification with no documents needed.
- Open a Wealth $aver or USD$aver account during the application.
- Fund the account with at least S$200,000 in fresh funds to activate Priority Banking status.
- Optionally invest or insure to unlock the Wealth Booster bonus interest (min. S$200K investment or S$24K insurance premium).
Processing takes up to 7 working days after meeting the eligibility criteria. You can also visit any SC branch or request a callback from a Relationship Manager through the sign-up page.
Frequently Asked Questions
What is the minimum amount to open SC Priority Banking?
You need a minimum of S$200,000 in Assets Under Management (AUM), which includes deposits, investments, and insurance premiums held with Standard Chartered. Alternatively, you can qualify with S$1.5 million in housing loans with the bank.
What counts as AUM for Priority Banking eligibility?
AUM includes your total deposits (including time deposits), total value of eligible investment products, and total premiums paid on eligible in-force insurance products purchased through the bank. It’s not just cash — your unit trusts, bonds, structured products, and insurance all count towards the threshold.
What interest rate does the Wealth $aver Account pay?
The base relationship rate ranges from 0.40% to 0.80% p.a. for SGD deposits (depending on AUM tier), and 1.00% to 2.00% p.a. for USD deposits. With the Wealth Booster and Top-Up promotions, you can earn up to 2.80% p.a. on SGD and 4.00% p.a. on USD, capped at S$2 million and US$2 million respectively.
How does the MGM referral programme work?
Existing SC Priority Banking clients can refer friends and family through the bank’s online referral form. SC generates a unique referral link for you to share. When your referral signs up and places the required fresh funds, you receive an account credit of S$800 to S$2,500 depending on the amount placed.
Can I refer someone who lives overseas?
Yes. SC Priority Banking allows you to refer someone residing outside Singapore. They can open an account in Singapore remotely without travelling here. You’ll need to get their consent and fill in their details on the overseas referral form.
Is the referral reward taxable?
Account credits received as referral rewards are generally not subject to income tax in Singapore, as Singapore does not tax interest income for individuals. However, consult a tax professional if you have specific concerns about your tax situation.
What’s the difference between Priority Banking and Priority Private?
Priority Banking requires S$200,000 in AUM, while Priority Private requires S$1.5 million. Priority Private clients get access to Accredited Investor products, higher referral rewards, and enhanced wealth advisory services. The MGM referral programme’s higher reward tiers (S$1,600 and S$2,500) require the referred client to also sign up as Priority Private.
How does SC Priority Banking compare to other banks?
SC Priority Banking’s S$200K entry is competitive with DBS Treasures, OCBC Premier Banking, and UOB Privilege Banking. SC’s key differentiators are its international banking network across 20 markets, the Wealth $aver USD rate of up to 4.00% p.a., and the Beyond Credit Card’s travel benefits. Check our Bank Account Interest Rates Singapore 2026 guide for a full comparison.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Interest rates, promotions, and terms are accurate as of August 2026 based on information from sc.com/sg. Please verify current rates and terms directly with Standard Chartered before making any financial decisions. The Kopi Notes may receive referral rewards if you sign up through links in this article.
This article was researched with the help of AI. While we strive to keep all information accurate and up to date, there may be errors. If you notice any discrepancies, please contact us.
