Standard Chartered Launches Exclusive Savings Account for Clients Aged 55+

It provides an interest rate of 3%, along with up to $50,000 in protection against digital theft.

Standard Chartered
has launched the MyWay Savings account, which is designed as a retail savings option exclusively for customers who are 55 years of age and older.

The product offers an interest rate of up to 3%, with no lock-in period as stated in a press release. Additionally, it will implement a daily interest accrual mechanism.

Up to S$50,000 in your account is safeguarded against digital theft resulting from unauthorized electronic transfers caused by malware and phishing scams.

Clients who have a greater tolerance for risk can access wealth management services as part of their account benefits. Additionally, they will enjoy perks related to health and lifestyle along with special invites to discussions about retirement and inheritance planning.