XtraSaver Account
Introducing XtraSaver1, the only card that offers CashBack2 everywhere.
At a glance:
MasterCard debit card linked to its own interest bearing chequing account
Account Features
| Benefits |
|
Get CashBack when you spend
| Checking account deposit balance | CashBack on petrol with MasterCard | CashBack on local and overseas MasterCard transactions | |
| If you spend on petrol | Do not spend on petrol | ||
| $6,000 and above | 7% | 1% | 2% |
| $20,000 and above | 10% | 1% | 2% |
| $50,000 and above | 12% | 1.5% | 3% |
| $200,000 and above | 15% | 1.5% | 5% |
Caps on XtraSaver CashBack
| Checking account deposit balance | Monthly cap on petrol CashBack | Monthly cap on NETS CashBack* | Monthly cap on all CashBack (including petrol and NETS |
| $6,000 and above | $15 | $15 | $300 |
| $20,000 and above | $40 | $15 | $300 |
| $50,000 and above | $48 | $15 | $300 |
| $200,000 and above | $60 | $15 | $300 |
*Please note that with effect from 1 October 2011, monthly cap on NETS CashBack will be revised from S$50 to S$15.
Here's How It Works
| Deposit balance in checking account | Your interest per month |
| $7,000 | $1 |
| You Spend | Your CashBack per month |
| Petrol - $300 | $15 |
| MasterCard - $300 | $3 |
| NETS - $400 | $2 |
| Total - $1,000 | $20 |
| Total benefit | $1 + $20 = $21 |
Calculations are based on the prevailing interest rates and CashBack applicable to XtraSaver as at 1 November 2010 and have been rounded to the nearest dollar. Sums are rounded up if more than $0.50 and rounded down if less than $0.50.
Account Opening Requirements
- Nationality: Singapore Citizen / Singapore Permanent Resident / Foreigner
- Age: Minimum 18 years old
- Initial deposit: S$0
- Documents required:
- For online / mail in account opening (applicable to Singapore Citizens or Permanent Residents only)
- XtraSaver Application Form duly signed
- Copy of each applicant’s identity card (front and back)
- Cheque for the initial deposit for each applicant (cheque must be drawn on each applicant’s personal account in his / her own name at another local bank or Qualifying Full Bank)
- For branch account opening: Identity card / Passport
- For online / mail in account opening (applicable to Singapore Citizens or Permanent Residents only)
Key Charges
| Service | Charges |
| Minimum initial deposit | S$0 |
| Minimum average daily balance | S$3000 (Note: If account is in $0 balance for 6 consecutive months, it will be automatically closed) |
| Fall-below fee | S$5 *For NEW accounts opened from 1 June 2011, fall below fee will be charged from second month after account opening, if minimum average daily balance is not met |
| Monthly service charge | S$0 |
| Unarranged overdraft | Prime + 5%, minimum S$5 |
| Early account closure fee (within 6 months) | S$30 |
| Membership fee | S$15 per annum (Free for 2 years for a limited time period only!) |
| Cheque book | 1st book free. Thereafter, S$15 per cheque book. |
For more information, please call our 24-hour Phone Banking on 1800 747 7000 or click on My Request to schedule an appointment to open an account at one of our branches.
Important Note:
1. The Bank's prevailing Customer Terms, the Current/ Cheque/ Savings Account and Time Deposit Terms and the XtraSaver Account Product Terms apply to all XtraSaver Cards and linked-interest bearing chequing accounts.
2. CashBack is applicable if the average daily balance in the chequing account calculated at the end of each calendar month is $6,000 and above. CashBack is tiered and calculated at the end of each calendar month based on transaction posting date and the deposit amount in the chequing account and will be credited on the first working day of the next calendar month, to the relevant account. Monthly CashBack is subject to a cap, ranging from $15 to $60 for MasterCard transactions at petrol stations, $15 for NETS transactions and an overall cap of $300 for an aggregation of all transactions per month.
3. Petrol CashBack applies only in Singapore and Malaysia where the petrol station accepts EMV compliant MasterCard cards and if the petrol station's merchant category code is 5177, 5541 or 5542. Purchase of petrol includes all other purchases (besides petrol) at the petrol station.
4. CashBack is not applicable for bill payments made via Online Banking from the XtraSaver Current Account.
5. CashBack is only applicable to the linked chequing account with an average daily balance of $6,000 and above, as calculated at the end of each calendar month. CashBack is not applicable to NETS cash card top up.
6. The Bank reserves the right to:-
(a) debit any of your account with us for the CashBack given to you if the transactions are cancelled, voided or reversed for any reason; or
(b) revise interest rates at any time without prior notice. Interest is calculated daily and credited monthly.
1. The Bank's prevailing Customer Terms, the Current/ Cheque/ Savings Account and Time Deposit Terms and the XtraSaver Account Product Terms apply to all XtraSaver Cards and linked-interest bearing chequing accounts.
2. CashBack is applicable if the average daily balance in the chequing account calculated at the end of each calendar month is $6,000 and above. CashBack is tiered and calculated at the end of each calendar month based on transaction posting date and the deposit amount in the chequing account and will be credited on the first working day of the next calendar month, to the relevant account. Monthly CashBack is subject to a cap, ranging from $15 to $60 for MasterCard transactions at petrol stations, $15 for NETS transactions and an overall cap of $300 for an aggregation of all transactions per month.
3. Petrol CashBack applies only in Singapore and Malaysia where the petrol station accepts EMV compliant MasterCard cards and if the petrol station's merchant category code is 5177, 5541 or 5542. Purchase of petrol includes all other purchases (besides petrol) at the petrol station.
4. CashBack is not applicable for bill payments made via Online Banking from the XtraSaver Current Account.
5. CashBack is only applicable to the linked chequing account with an average daily balance of $6,000 and above, as calculated at the end of each calendar month. CashBack is not applicable to NETS cash card top up.
6. The Bank reserves the right to:-
(a) debit any of your account with us for the CashBack given to you if the transactions are cancelled, voided or reversed for any reason; or
(b) revise interest rates at any time without prior notice. Interest is calculated daily and credited monthly.
Any Singapore dollar deposits held by non-bank depositors in eligible savings, fixed deposit and current accounts will be insured up to S$50,000 per depositor in accordance with the Deposit Insurance And Policy Owners' Protection Schemes Act.