1. What are the product features of the Standard Chartered CDA?

Key Highlights
High Interest	Get 0.50% p.a. on your CDA savings Note • The Bank reserves the right to revise interest rates at any time without notice. • These interest rates also apply to Staff accounts.
Free Insurance	Protection for you and your child: Trustee who: Protection for Trustee Protection for Beneficiary Signs up for SCB CDA Up to $25,000 personal accident insurance coverage1 $50 daily hospitalisation cash benefit due to Hand, Foot and Mouth Disease (HMFD)2 Signs up for SCB CDA and receives maximum matching Government contribution in the CDA Up to $50,000 personal accident insurance coverage1 Note The insurance plan is underwritten by MSIG Insurance (Singapore) Pte Ltd and issued to Standard Chartered Bank as the policyholder under a Master Policy.
Family Saver	Get 0.50% p.a. when you open a second account for your child or family, the same interest rate as your CDA: Note • Under Family Saver, 2nd account to be opened must be e$aver, e$aver Kids! or World Partner Savings Account (“applicable account”). • Trustee of CDA must be an account holder in applicable account. If Trustee of CDA has more than one applicable account, then Family Saver will apply to applicable account opened the earliest. • If Trustee of CDA has an existing applicable account, then Family Saver will automatically apply. • The Bank reserves the right to revise interest rates at any time without notice. • These interest rates also apply to Staff accounts.
Children Development S$ Time Deposit Account	Extra 0.30%p.a. interest3 above prevailing board rates on a minimum 12-month Children Development S$ Time Deposit Account using CDA funds only, up to a maximum deposit balance of $49,999. (available from 1 August 2008)
Other account features
Minimum initial deposit	$0
Minimum balance	$0
Fall-below fee	$0
Early account closure fee	$0
ATM card	Yes, for: • balance enquiries at Standard Chartered ATMs & ATM5 machines • NETS payments at Approved Institutions Baby Bonus Card (ATM Card) may be used from 1 August 2008.
Statements	Monthly, with link to hardcopy consolidated statements & eStatements.

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2. Interest rate

2.1 What is the interest rate for the Standard Chartered CDA?

The interest rates for the Standard Chartered CDA is 0.50%p.a.  

Note
•	The Bank reserves the right to revise interest rates at any time without notice.
•	These interest rates also apply to Staff accounts.

2.2 How is the interest rate for the Standard Chartered CDA calculated?

Interest is calculated daily as follows:

Interest earned in a month = Daily Balance x Interest rate x No. of days in a month   365 days

2.3 When will the interest be credited to my Standard Chartered CDA?

Interest is credited monthly, at the end of every month.

2.5 How can I find out the amount of interest credited to my Standard Chartered CDA each month?

You can track the amount of interest credited via:

• your monthly statements; and/or
• logging on to our Internet Banking service at www.standardchartered.com.sg

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3. Free Insurance

3.1 What is the free insurance coverage about?

The Trustee of a Standard Chartered CDA will be automatically covered under our comprehensive insurance plan for up to $50,000¹ in the event of total and permanent disablement or death arising out of an injury, due to an accident. This plan will cover the Trustee for as long as the CDA is maintained with us.

And that’s not all. The Trustee of the SCB CDA receives a $50² daily hospitalisation cash benefit in the event that the Beneficiary of the SCB CDA is hospitalised for the treatment of Hand, Foot and Mouth Disease (HFMD).

3.2 How much is the Trustee and the Beneficiary of the Standard Chartered CDA covered for?

Trustee who:	Protection for Trustee	Protection for Beneficiary
Signs up for SCB CDA	Up to $25,000 personal accident insurance coverage1	$50 daily hospitalisation cash benefit due to Hand, Foot and Mouth Disease (HMFD)2, up to a maximum limit of 365 days
Signs up for SCB CDA and receives maximum matching Government contribution in the CDA	Up to $50,000 personal accident insurance coverage1

Note

The insurance plan is underwritten by MSIG Insurance (Singapore) Pte Ltd and issued to Standard Chartered Bank as the policyholder under a Master Policy.

3.3 What is the Trustee of the Standard Chartered CDA covered for?

The Trustee of the Standard Chartered CDA is covered for total and permanent disability or death due to an injury, arising out of an accident for as long as the CDA is maintained with us.

3.4	I have received the maximum co-savings contribution from MCYS. To enjoy the insurance coverage, does it mean that I must maintain the maximum co-savings contribution in my Standard Chartered CDA?

No, you can use the monies in your Standard Chartered CDA.

3.5 To enjoy the higher insurance coverage of up to $50,000, must I receive the maximum co-savings contribution from MCYS in 1 lump sum?

No, that is not necessary. Your insurance coverage will be converted to S$50,000 once you have received the maximum co-savings contribution from MCYS.

3.6	I am an existing POSB CDA customer and have already received the maximum co-savings from MCYS. If I transfer my CDA to Standard Chartered Bank, will I enjoy the higher insurance coverage of up to $50,000?

Yes, we are pleased to inform you that you will be covered for up to $50,000.

3.7 My wife is the Trustee of our child’s (i.e. Beneficiary’s) Standard Chartered CDA. As her husband, do I qualify for the insurance coverage as well?

No, only the Trustee of the Standard Chartered CDA is entitled for the insurance coverage.

3.8 My CDA is with OCBC. Am I covered under Standard Chartered’s insurance plan?

No, only the Trustee of a Standard Chartered Child Development Account is entitled for the insurance coverage.

3.9 Do I have to pay any premiums for the insurance coverage?

No, you do not have to pay any premiums for the insurance coverage. It is provided free of charge, as long as you have a Standard Chartered CDA.

3.10 When will the insurance coverage expire?

The insurance coverage will cease once your Standard Chartered CDA is closed.

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4. Family Saver

4.1 What is the Family Saver feature of the Standard Chartered CDA about?

With your Standard Chartered CDA, you can be a Family Saver when you open a second eligible account* for your child or family. You will enjoy the same interest rate for your Standard Chartered CDA on this second eligible account*.  That is, the interest rates are:

Deposit balance	Interest rate (1 October 08)	Interest rate (from 1 November 11)
All Balances	1%p.a.	0.50%p.a.

*Note
•	Under Family Saver, 2nd account to be opened must be e$aver, e$aver Kids! or World Partner Savings Account (“applicable account”).
•	Trustee of CDA must be an account holder in applicable account. If Trustee of CDA has more than one applicable account, then Family Saver will apply to applicable account opened the earliest.
•	If Trustee of CDA has an existing applicable account, then Family Saver will automatically apply to that account.
•	The Bank reserves the right to revise interest rates at its sole and absolute discretion at any time without notice.
•	These interest rates also apply to Staff accounts.

4.2 I am the Trustee of a Standard Chartered CDA. Does Family Saver apply to all my Standard Chartered Bank deposit accounts?

No, only one of the following accounts is eligible:

• e$aver Account,
• e$aver Kids! Account,
• World Partner Savings Account

In addition, please note that you must be one of the account holders of the above mentioned list of eligible accounts. That is, you do not need to be the primary account holder.

Also, if you have more than one eligible account, then Family Saver will apply to one account only and it will apply to the account that is opened the earliest.

4.3	I am the Trustee of a Standard Chartered CDA and have an existing e$aver account and an e$aver Kids! account. Which would you consider to be my 2nd eligible account for Family Saver?

Family Saver will apply to the account that is opened the earliest. For example, if your e$aver account was opened in June 2007 and e$aver Kids! account in January 2007, then your e$aver Kids! account will be considered as your 2nd eligible account.  

4.4

I am the Trustee of a Standard Chartered CDA and have an existing e$aver account and an e$aver Kids! account. My e$aver Kids! account was opened earlier than my e$aver account and thus qualifies for Family Saver. However, I would like my e$aver account to be considered as my 2nd eligible account for Family Saver instead. Can this be done?

No, we regret to inform you that we are not able to accommodate your request.

4.5 What happens if I close my e$aver account which is my 2nd eligible account?

In such an event, if you have another e$aver account or e$aver Kids! account or World Partner Savings Account, we will automatically identify the account that is opened the earliest and apply Family Saver to that account. No action is required on your part.

4.6	I am the Trustee of a Standard Chartered CDA and have an existing e$aver account with you in joint names with my spouse. What must I do to qualify for Family Saver?

We are pleased to inform you that as long as you are the Trustee of a Standard Chartered CDA and are one of the account holders of an e$aver account, e$aver Kids! account or World Partner Savings Account, then Family Saver will automatically apply to your account. If you have more than one eligible account, then Family Saver will apply to one account only and it will apply to the account that is opened the earliest.

4.7	In the event that I am not longer the Trustee of the Standard Chartered CDA (change of Trustee), does Family Saver continue to apply to my existing e$aver account with you?

No, in the event that you are no longer the Trustee of the Standard Chartered CDA, then Family Saver  would not continue to apply to your existing e$aver account. However, the new Trustee of the Standard Chartered CDA will be entitled to Family Saver and can open a second eligible account with us or if he or she has an existing e$aver account, e$aver Kids! account or World Partner Savings Account, then Family Saver will apply to the new Trustee’s existing eligible account.

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5. Child Development S$ Time Deposit Account

5.1 I understand that I can use my CDA funds to invest in principal protected instruments. What instruments does MCYS allow now?

MCYS allows for CDA funds to be placed in S$ Time Deposits for now. At Standard Chartered, you can use your CDA funds to open a special Child Development S$ Time Deposit Account with us.

5.2 What is the Child Development S$ Time Deposit Account about?

A Trustee of a Standard Chartered CDA is able to use his Standard Chartered CDA funds to open a Child Development S$ Time Deposit Account with us and enjoy an extra 0.30%p.a.³ interest above prevailing board rates.

5.3 Are there any conditions to be met?

Yes, the Child Development S$ Time Deposit must meet these conditions:

• Account operating conditions: S$ Time Deposit Account must be opened with the same mandate as the Standard Chartered CDA from which funds are to be debited from.
• Deposit amount: Limited to $5,000-$49,999 per account and per Trustee-Beneficiary relationship.
• Tenor: Minimum tenor of 12 months.
• Maturity date: S$ Time Deposit cannot mature after 31 December of the year the Beneficiary turns 6 years old. In the event of an auto-renewal where the maturity date exceeds 31 December, the S$TD will not be auto-renewed, and the principal and interest accrued will be credited back to the CDA.
• Source of funds: From Standard Chartered CDA only.
• Premature withdrawal/maturity: In the event of a premature withdrawal/maturity, the principal and any interest accrued must be returned to the Standard Chartered CDA from which funds were debited from originally.

5.4 I am the Trustee of a Standard Chartered CDA. How many Child Development S$ Time Deposit Accounts can I open?

You can open as many Child Development S$ Time Deposit Accounts as you wish. However, please note that the deposit amount is limited to $5,000 - $49,999 per account and per Trustee-Beneficiary relationship.

5.5 How can I use my CDA funds to open a Children Development S$ Time Deposit Account with you?

You can do so at any of our branches.

5.6 I am an existing OCBC CDA customer. Can I use my CDA funds to invest in a Children Development S$ Time Deposit Account with you?

No, OCBC CDA customers are not allowed to invest their CDA funds in Standard Chartered’s Children Development S$ Time Deposit Accounts.

5.7 What are the tenors available to me?

The tenors available are 12 months, 15 months, 18 months, 24 months, 36 months, 48 months and 60 months.

5.8 What is the minimum and maximum deposit allowed?

Limited to $5,000 - $49,999 per Child Development S$ Time Deposit Account and per Trustee-Beneficiary relationship.

5.9 Can I withdraw funds from the Children Development S$ Time Deposit Account?

No.

5.10 What happens to my Children Development S$ Time Deposit Account when it matures?

Upon maturity, your S$ Time Deposit will either be auto-renewed for the same tenor or transferred to your Standard Chartered CDA. This would depend on the maturity instructions your provided at the time of opening the Children Development S$ Time Deposit Account.

Please note that if you choose to auto-renew your S$ Time Deposit upon maturity, and if the new maturity date exceeds 31 December of the year the Beneficiary of your Standard Chartered CDA turns 6 years old, your S$ Time Deposit will not be auto-renewed. Instead, the principal and any interest earned will be credited back to your Standard Chartered CDA.

5.11 In the event of a premature withdrawal, will I be liable for any premature withdrawal charges or penalties?

In the event of a premature withdrawal, the charges for the uplift will be deducted from the interest accrued before the funds are credited back to the Standard Chartered CDA.

5.12 Can I use cash to place a S$ Time Deposit with you?

You may use cash to place a Singapore Dollar Time Deposit but it will enjoy prevailing board rates and not the special rates for S$ Time Deposits placed with CDA funds. To open a Children Development S$ Time Deposit Account, only funds from your Standard Chartered CDA is allowed.

5.13 Can I use a combination of cash and CDA funds to place a Children Development S$Time Deposit with you?

No, you cannot use a combination of cash and CDA funds to place a Children Development S$ Time Deposit.

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6. Miscellaneous

6.1 Do I have to make a minimum initial deposit to open a Standard Chartered CDA?

There is no minimum initial deposit required to open a Standard Chartered CDA.

6.2 Do I have to maintain a minimum balance each month?

You do not need to maintain a minimum balance each month.

6.3 What are the fees and charges related to the account?

There are no fees and charges related to the account.

6.4 Do I receive a passbook or statement for this account?

You will receive a statement every month for this account.

6.5 Can I switch from the other CDA Bank and Standard Chartered?

Yes, you may. You would need to inform MCYS to close your Standard Chartered CDA. MCYS will then instruct Standard Chartered to close your Standard Chartered CDA and to return the monies in your account to it. In addition, MCYS will provide you with the necessary documents to apply for a CDA with the other CDA Bank.

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1. Am I eligible to open a CDA?

You are eligible to open a CDA if you meet these conditions:

Trustee

• Minimum 21 years old
• Parent or 3rd Party nominated by parent
• Singaporean, Permanent Resident (PR) or Foreigner
• Not a bankrupt

Child (i.e. Beneficiary)

• Singapore Citizen
• 2nd to 4th child born on or after 1 Aug 2004;
• All children born on or after 17 Aug 2008
• Mother is lawfully married to the child’s father

For more details or to confirm if you are eligible to open a CDA, please contact MCYS.

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2. How can I open a Standard Chartered CDA?

You may apply to open a Standard Chartered CDA via the following channels:

• Baby Bonus One-Stop Service
  • Birth Registration Counter (BRC) at hospitals*
  • Immigration & Checkpoints Authority (ICA)
• Any Standard Chartered branches

* List of hospitals: East Shore Hospital, Gleneagles Hospital, KK Women's and Children's Hospital, Mount Alvernia Hospital, Mount Elizabeth Hospital, National University Hospital, Raffles Hospital, Singapore General Hospital, Thomson Medical Centre (as at 1 April 2008)

In addition, please note the following requirements:

	Baby Bonus One Stop Service	Any Standard Chartered branch
Eligibility	• Minimum 21 years old • Singapore Citizen/PR • Parents only • Only Trustee must be present	• Minimum 21 years old • Singapore Citizen/PR/foreigner • 3rd party allowed (i.e. need not be parent) • Only Trustee must be present
Documents Required	• Original NRIC/Passport of Trustee • Original active bank book/bank statement (<3 months old) of Trustee • Original Birth Certificate / Certificate of Citizenship of Beneficiary • Original Completed CDA Application Form	• Original MCYS Letter of Authorisation • Original NRIC/Passport (for foreigners) of Trustee • Copy of Birth Certificate/Certificate of Citizenship/Passport of Beneficiary

3. Where are your branches located?

Our 18 branches are located island wide. To locate the branch nearest to you, please use our ATM/ Branch locater or call our 24-hour Phone Banking on 1800 747 7000.

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4 Must my child (i.e. the Beneficiary) be present at account opening?

No, your child need not be present at account opening.

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5. Must I (i.e. the Trustee) be present at account opening?

Yes, the Trustee must be present at account opening.

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6. What will I receive when I open a Standard Chartered CDA?

You will receive the following items:

• Welcome letter stating your Standard Chartered CDA number, and your Internet Banking and Phone Banking IDs,
• Baby Bonus Card (ATM), and
• Internet Banking, Phone Banking and ATM PIN mailers.

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1. Deposits

1.1 Can I deposit funds into the CDA?

Yes, deposits into the account can be made via the following 5 channels:

• Cash deposit at Standard Chartered branches via:
  • Cash Deposit Machines (CDMs)
  • Over-the-counter
• Cheque deposit via:
  • Cheque Deposit boxes
  • Over-the-counter
  • Mail in
• Phone banking funds transfer (within Standard Chartered accounts only)
• Internet Banking funds transfer (intra bank or inter bank)

1.2 I want to set up internet banking funds transfer from my accounts in other banks into my Standard Chartered CDA. What should I do?

To set up internet banking funds transfer from your accounts in other banks into your Standard Chartered CDA, please use these Standard Chartered codes:

Bank code : 7144
Branch code: 0, followed by the first 2 digits of your Standard Chartered CDA number

Your Standard Chartered CDA number can be found in your welcome letter.

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2. Withdrawals

2.1 Can I withdraw funds from the CDA?

Withdrawals from the account are allowed for 3 purposes only:

• Payment of fees via GIRO / Standing Instructions to Approved Institutions (AI) specified by MCYS
• Payment of expenses via NETS at AIs
• Investments in principal-protected plans within the same bank – restricted to S$ Time Deposits

2.2 Who are the Approved Institutions (AIs) specified by MCYS?

AIs can be identified by an Approval Letter displayed at their premises.

The types of AIs specified by MCYS are:

• Child care centres;
• Kindergartens and special education schools registered with the Ministry of Education (MOE);
• Early intervention programmes registered with the National Council of Social Service (NCSS);
• Healthcare institutions licensed under the Private Hospitals and Medical Clinics (PHMC) Act.

For a detailed list of all MCYS specified AIs, please visit https://www.babybonus.gov.sg

2.3 How do I apply for GIRO/ Standing Instruction?

GIRO forms are available at our public website, branches or you can call our Contact Centre for a form to be mailed to you. Alternatively, you may request for a form from the respective AI.

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3. Baby Bonus Card and NETS

3.1 Can I use my Baby Bonus Card to make NETS payments at any retail outlet?

You can only use the Baby Bonus Card to make NETS payments at AIs specified by MCYS.

3.2 How would I know if I can use my Baby Bonus Card to make NETS payments at AIs?

You can use the Baby Bonus Card to make NETS payments at AIs which have an Approval Letter and an Approved Institution decal displayed at their premises. The decal indicates that the AI provides the Baby Bonus NETS service.

3.3 Where do I obtain the list of AIs?

For a detailed list of all MCYS specified AIs, please visit:
https://www.babybonus.gov.sg/bbss/jsp/inst/InstInternetMaint.jsp

3.4 I have lost my Baby Bonus Card. What should I do?

If you lose your Baby Bonus Card, you should immediately call our 24-hour Phone Banking on 1800 747 7000 to report the loss and prevent any further access.

There is no further liability once the loss of card is reported. Customers will be held liable for transactions conducted prior to reporting the loss to the Bank.

3.5 I have lost my Baby Bonus Card. How can I get a replacement card?

You may obtain a replacement card at any of our branches. You will have to reset your ATM PIN by entering a new PIN before receiving the replacement card. The card will be issued to you on-the-spot.

3.6 I have lost my Baby Bonus Card. Will I be charged a replacement fee?

No, there is no charge for replacement of the Baby Bonus Card.

3.7 I am the Trustee of 2 Standard Chartered CDAs. Can I only have 1 Baby Bonus Card issued to me?

No, each Standard Chartered CDA will have 1 Baby Bonus card issued to the Trustee.

3.8	I am the Trustee of 2 Standard Chartered CDAs and thus have 2 Baby Bonus Cards issued to me. How would I know which Card belongs to each child (i.e. Beneficiary)?

You will be able to differentiate the cards by the child’s (i.e. Beneficiary) name and ID number printed on the card.

3.9 I am an existing Standard Chartered customer and have an existing ATM card. Can I link my new Standard Chartered CDA to my existing ATM card?

No, you are not allowed to link your new Standard Chartered CDA to your existing ATM card

3.10	I have a CDA and a savings/chequing account with Standard Chartered. Can I link my CDA and my savings/chequing account to my Baby Bonus Card?

No, you are not allowed to link your existing Standard Chartered savings/chequing account to your Baby Bonus Card.

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4. Change of Trustee

4.1 How can I request for a change in Trustee?

You will have first have to inform MCYS of this change and wait for MCYS to issue a letter authorising this change. This Change of Trustee Letter is required to effect the change in Trustee for your CDA at the bank.

4.2 What are the documents required by Standard Chartered to effect the change in Trustee for the CDA?

You will need the following:

• Original MCYS’ Authorisation Letter to change the Trustee; and
• Original NRIC/Passport (for foreigners) of New Trustee

4.3 Who needs to be present at the bank to effect this change?

Only the new Trustee must visit the branch in person to effect this change. The existing Trustee need not be present.

4.4 Will the CDA account number be changed?

No, the CDA account number will not be changed.

4.5 What will happen to the existing Trustee’s Internet Banking, Phone Banking and ATM card access then?

If the existing Trustee has other Standard Chartered accounts, he/she will still have access to our Internet Banking and Phone Banking services, but will no longer be able to view the Standard Chartered CDA. In addition, his/her Baby Bonus Card will be cancelled.

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5. Death of Trustee / Child (Beneficiary)

5.1 I am the next of kin / executor / administrator of a Trustee that has passed away. What should I do to gain access to the CDA?

You should inform MCYS and show proof of the existing Trustee’s death. MCYS will then issue you an Authorisation Letter to change the Trustee.

5.2 My child (i.e. Beneficiary) has unfortunately passed away. What should I do now?

You will need to inform MCYS and show proof of the child’s death. The co-savings will be stopped and the money in the CDA will be returned to the parents in equal amounts. MCYS will then instruct the managing agent to close the CDA.

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6. Maturity of CDA

6.1 My child (i.e. Beneficiary) has reached the age of 6 years old. What happens now?

On 31 December of the year of your child’s 6th birthday, your CDA will be closed and the funds will be transferred back to MCYS. If your child was born from 2001 to 2007, MCYS will write to you offering you the option to credit the CDA funds to any nominated account you may have with any bank. However, if your child was born from 2008 onwards, the CDA funds will be automatically credited into your child’s Post Secondary Education Account (PSEA) held with the Ministry of Education (MOE).

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