Standard Chartered JumpStart Savings Account? What is that?
To many Singaporeans, you probably created your first savings account under one of the local banks: DBS, OCBC or UOB. While they are easy for us to access, it may not be the best savings account for us right now. Managing your finances can be seen as a hassle to many, for some it is hardly a priority until we enter our late 20s.
So, is it really worth abandoning your YOLO spirit and stashing your cash away with the Standard Chartered JumpStart Savings Account? If you’re still 18 to 26 years old, you are in for a ride!
What are the different types of Standard Chartered Savings Account?
There are a myriad of Standard Chartered Savings Account available right now in Singapore. These accounts range from kids savings accounts to young adults’ savings accounts, multi-currency accounts, and your typical bonus interest rates savings accounts.
Here is an overview of 5 SCB savings accounts, their eligibility, and interest rates:

Standard Chartered JumpStart Savings Account
The best part of Standard Chartered JumpStart Savings Account is how fuss-free it is. There’s essentially no barriers to entry besides having to be between 18-26 years old at the time of account opening.
Eligibility:
- Eligible Age: 18 to 26 years old
- Nationality: Singaporeans & PRs
- Initial Deposit: $0
- Minimum Balance (Monthly): $0
- Fall-below Fee: $0
- Bonus 1% Cashback Debit Card Cap: $60/month
Standard Chartered JumpStart Savings Account Interest Rate
Previously, Standard Chartered JumpStart Savings Account interest rates had been slashed. Currently (as of time of writing), you can easily earn 2% interest without having to do much at all.

Standard Chartered JumpStart Savings Account Bonus Interest Rate
The bonus interest rate is called the Standard Chartered Jumpstart Step-Up Interest. You will get the bonus 0.5% p.a. interest rate if you complete one of SCB’s “Wealth Quests“.
- Wealth Quest 1: Invest minimum of $1,000 in unit trusts, or regular savings plan (from $100/month) via SCB
- Wealth Quest 2: Invest in equities via SC Online Trading (subject to exchanges’ minimum shares/order)
Standard Chartered JumpStart Savings Account Cashback
1% cashback on your SCB Debit Card’s spending . Most daily expenditure are eligible for this 1% cashback, excluding:
- ATM or NETS transactions
- Loan, Credit, Deposit Payments
- ICA, MOM, LTA transactions
- Insurance Premiums
- EZ-Link Card Transactions
- Top-ups into any stored value facilities such as e-wallets
- Annual fees and charges charged to your debit card
The cashback is capped at $60 per month. It’s one way to make the most of your day to day expenditure even if it might not be much.
However, if you’re quite a big spender, you would easily be able to find some other best credit cards that can give you high cashback rates.
Standard Chartered JumpStart Savings Account vs CIMB FastSaver Account
The CIMB FastSaver Account is very similar to the Standard Chartered JumpStart Savings Account. No fall below fees, and you don’t have to credit your salary. You simply leave your money in there to leverage on the higher-than-normal bank interest rates.
Standard Chartered JumpStart Savings Account | CIMB FastSaver Account | |
Eligibility | 18 – 26 years old | 16 years and above |
Minimum Deposit | $0 | $0 |
Monthly Balance | $0 | $0 |
Fall-below Fee | $0 | $0 |
Credit Salary | No | No |
Base Interest Rate | 2.00% – First $20,000 | 1.50% – First $25,0002.50% – Next $25,000 3.50% – Next $25,000 |
Bonus Interest Rate | 0.5% – First $20,000 | Additional 2%* |
Debit/Credit Card | SCB Debit Mastercard | CIMB Visa Signature Credit Card |
Additional Cashback | 1% | 5% |
If you are interested to sign up for an account with Standard Chartered JumpStart Account, click here.
If you are keen, check out our other latest articles. Trust Bank Referral, Growth Investing and 5 ways rising interest rates are affecting you.Â
Disclaimer: The information provided by LearnToInvest serves as an educational piece and is not intended to be personalized investment advice. ​Readers should always do their own due diligence and consider their financial goals before the usage of these products. We do not offer any warranty or assurance regarding the quality of these services or goods.