Standard Chartered in Singapore has launched a new product offering the ability to earn KrisFlyer Miles for a SGD Miles Time Deposit product.
However even with time deposit products the interest rates still tend to top out at around 2%, but require vast sums of money to hit that level – circa 150K or over. They are of course safer than a lot of other higher return investment products, so that’s why they tend to be popular.
Earn KrisFlyer Miles with Standard Chartered
Standard Chartered has launched a new option which may be of interest to risk averse KrisFlyer Miles earners. Instead of earning interest on your deposit you’ll earn KrisFlyer Miles.
So for each block of 25,000 SGD deposited you’ll earn 10,000 KrisFlyer Miles. This isn’t a massive sum but could go towards topping up your balance.
The KrisFlyer Miles earned in terms of value would have a base value of $S200, but could be more if you redeem your miles for the right Business Class or First Class flights. For more on the value of KrisFlyer Miles have a check here:
In terms of return you’d be getting a minimum of 0.8% over 6 months which lets face it is pretty pathetic. The maximum you can deposit is $S150,000 which would return 60,000K in KrisFlyer Miles.
It’s up to you whether you go for this, but for me it would depend on how risk averse you are – but always remember that the miles you earn don’t have any real value until you redeem them. You can find out more and sign-up for the offer here:
What do you think of Standard Chartered’s new offering? Do you already Earn KrisFlyer Miles with Standard Chartered in another way?