Standard Chartered Bank XtraSaver Account

Standard Chartered Bank is one of the most recognised names in banking around the world. The bank offers both conventional and Shariah-compliant savings, current, and fixed deposit accounts in the UAE to help you make great savings and utilise your money better. All these products are developed to help you save and control your funds in a better way.

The savings account, in particular, can offer you attractive returns on the monthly average balance that you maintain.  The main Standard Chartered Bank savings accounts are -

  • Saadiq Savings Account
  • Savings Account 
  • Saadiq XtraSaver Account 
  • XtraSaver Account

This write-up would focus on the last item in this list, i.e., XtraSaver Account. Read this piece to know more about the features and benefits of this account, its eligibility criteria, the documents required to open it, and more. 

SC Debit Card

Features and Benefits of the XtraSaver Account

Standard Chartered Bank XtraSaver Account is a zero-balance bank account that promises attractive returns on savings. You can open this account only in AED or USD denominations. 

The following are the features of Standard Chartered Bank XtraSaver Account -

  • You can open this Standard Chartered XtraSaver Account with an initial deposit of at least AED 3,000
  • Complimentary Contactless Debit Card - Upon opening the Standard Chartered XtraSaver Account, you receive a complimentary debit card that can be used anywhere in the world. With this debit card, you can gain access to your funds when you are shopping online or at merchant outlets. You can use this card to withdraw cash from the ATM as well.

Note - The Contactless Debit Card is not available for USD accounts

  • Convenient Withdrawal - With the XtraSaver Account, you can easily withdraw cash from any of the bank’s ATMs from its extensive ATM network
  • 24/7 Access to Account Funds - You can easily access the account for funds via online banking, mobile banking, or phone banking. Keep in mind that you can only make 3  debit transactions per month for free - by making more than 3, you would not receive any returns on the monthly balance.
  • Pay Your Utility Bills - You can easily access and pay your utility bills like DEWA, Du, and Etisalat bills from your Standard Chartered XtraSaver Account. You can pay the bills easily via online banking or mobile banking. 
  • Avail of eStatements -  Rather than receiving physical statements, you can opt to avail of password-protected eStatements to diligently monitor the transactions in your Standard Chartered Bank XtraSaver Account. 
  • Receive Instant Alerts - You receive immediate alerts on your registered mobile number every time a transaction takes place from your Standard Chartered Bank XtraSaver account. This can help you track down fraudulent transactions, if any. 
  • Manage Your Account on the Go - You can conveniently manage the funds in your XtraSaver Account on your fingertips using the mobile banking application called the SC Mobile app (available for both iOS and Android) 

Interest Rate Offered by the Standard Chartered Bank XtraSaver Account

You can get 2% per annum interest on your average quarterly balance (on AED accounts) and 1.5% per annum interest on your average quarterly balance (on USD accounts). The following is the detailed rundown of the interest rates offered by the Standard Chartered Bank XtraSaver Accounts -

AED Denomination

AED Rates (Per Annum) on Average Balance Month 1 Month 2  Month 3
0 to AED 180,000 o.25% o.25% o.50%
AED 180,001 to AED 365,000 o.25% o.25% 1%
AED 365,001 and above  0.25% 0.25% 2%

USD Denomination

USD Rates (Per Annum) on Average Balance Month 1 Month 2  Month 3
0 to USD 50,000 o.25% o.25% o.50%
USD 50,001 to USD 99,999 o.25% o.25% 1%
USD 100,000 and above  0.25% 0.25% 1.5%

Charges on Standard Chartered XtraSaver Account

Tabled below are the charges levied on Standard Chartered XtraSaver Account -

Services Fees Apply
Account Maintenance Fee AED 26.25 Apply Now
Set up of Standing Order AED 52.5 Apply Now
Replacement Debit Card AED 26.25 Apply Now
Cash Withdrawal at non-Standard Chartered Bank UAE ATM AED 2.1 per transaction Apply Now
International ATM Withdrawals AED 21 per transaction Apply Now
Outward/Inward Remittance Advice Requests  AED 31.5 per request  Apply Now

Note: All the charges are inclusive of 5% VAT and are subject to change upon the bank’s discretion

Open SC Bank Account

Eligibility Criteria for Standard Chartered Bank XtraSaver Account

Given below are the major eligibility criteria for Standard Chartered Bank XtraSaver Account -

  • Minimum Age - 18 years
  • Nationality - UAE nationals, residents, and non-residents

Documents Required to Open Standard Chartered XtraSaver Account

You would be asked to present these documents to open an XtraSaver account -

For Residents and UAE Nationals  

  • A copy of your passport
  • A copy of the resident visa (for residents only)
  • A copy of your Emirate ID

For Non-residents 

  • A copy of your passport
  • Address proof like tenancy agreement
  • Bank Statements of at least the last 3 months

How to Apply for an XtraSaver Account?

You can apply for Standard Chartered Bank XtraSaver Account in any of the following ways -

Policybazaar UAE

You can easily apply for any of Standard Chartered Bank XtraSaver through policybazaar.ae. As a third-party aggregator, we can help you open your bank account without having to wait in queues for hours at the bank branch and with minimal documentation requirements. 

To open this bank account using Policybazaar UAE, simply fill in the lead form on the bank account section of our website with all the required information. After this, you will be directed to the quotes page from where you can select XtraSaver Account and click on the Apply tab. Your application will be forwarded to the bank.

Online Banking

Visit the official website of the Standard Chartered Bank and select XtraSaver Account. Once on the account’s landing page, click on the “Apply” tab to be directed to the online application form. Provide all the required information and upload the documents to support the information, after which you can submit the application. 

Bank Branch

You can also pay a visit to your nearest Standard Chartered Bank branch to apply for a Standard Chartered XtraSaver account. Carry all the essential documents. Take the form from the assigned counter and fill it in accurately. Attach the photocopies of the required documents to prove your identity and submit them to initiate the application process. 

How to Close Your Standard Chartered Bank XtraSaver Account?

If you want to close your Standard Chartered Bank XtraSaver account, you can call the bank’s customer care on 600 5222 88 (24-hour helpline). On the other hand, if you are abroad and wish to close your Standard Chartered XtraSaver account, you would be required to dial +971 600 5222 88. 

You can also visit your nearest bank branch and connect with the designated executive to know the procedure for closing the account. 

If you have any queries about Standard Chartered Bank XtraSaver Account, read the following FAQ section.

XtraSaver Account Frequently Asked Questions

In what ways can you operate your Standard Chartered Bank XtraSaver Account?

The following are the modes of banking you can use to operate your XtraSaver Account -

  • Online Banking
  • SMS banking
  • Mobile Banking 
  • Branch visit
What is the minimum deposit you need to make to open the XtraSaver Account?

You need to make an initial deposit of at least AED 3,000 to open this account. 

In what currencies is the Standard Chartered XtraSaver Account available?

You can operate the XtraSaver Account in AED and USD currencies.

Is there any minimum balance you need to maintain on this account?

Standard Chartered XtraSaver Account is a zero-balance account, meaning that there is no mandate to maintain a certain amount of a minimum balance. 

How many debit transactions are permitted on an XtraSaver Account?

You can make up to 3 debit transactions from your XtraSaver account each month. Please note that if you make any transactions beyond the limit, you will not earn any returns on the balance.

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