uSMART Interest Reward

uSMART client will earn interest on their indicated idle cash balance amount during the promotional period.

How to participate？

1. Express your Interest

Select the currency that you would like to sign up for and indicate the amount that you would like to participate.

Existing/Fresh Funds must be in your account prior to submission of interest.

**You are required to express your interest before 23:59 on the day preceding the commencement of the interest rewards promotion.

 

2. Maintain Cash Balance

Maintain a cash balance in your account of the above indicated amount at any point of time during the Promotion Period. To help clients avoid accidental usage of the cash balance which may result in disqualification from the promotion, by default the indicated idle cash balance amount will be frozen. To drop out from the promotion and unfreeze the funds, kindly approach our Client Services Specialists for assistance.

 

3. Interest Crediting
The promotional interest will be credited into your account within 3 working days after the Promotion Period.

 

FAQ

1. Will I still get promotional interest if my idle cash balance falls below my indicated participation amount on any given day during the promotional period?
You will be automatically disqualified from the promotion and no promotional interest will be rewarded.

2. Can I withdraw, or use my idle funds?
For clients who participate in the uSMART Interest Reward Promotion, all participation funds will be frozen during the interest reward promotional period. If you wish to withdraw or cancel your participation, kindly reach out our Client Service Specialists to unfreeze your idle funds. Please note that if your idle cash balance falls below your indicated amount on any given day during the promotional period, you will be automatically disqualified from the promotion, and no promotional interest will be rewarded.

Effective from 16 February 2023, uSMART SG may provide margin account users with a temporary trading limit of up to one third of their total frozen funds due to the interest reward program which could be utilized to purchase stocks. However, please note that it will be subjected to debit interest on any amount used. After the promotional period ends, all frozen funds will be released, and the temporary limit will be removed.

 

3. How will the promotional interest be calculated?
Promotional Interest Earned = Indicated Amount * Annual Interest Rate on the 1st Day of the Promotion Period * Number of Days / 365.

4. Will I also earn promotional interest on my idle cash balance in other currencies?
No, this promotion is strictly for only SGD and USD idle cash balance.

5. Is there a minimum placement amount to participate in this promotion?
Yes, the minimum amount is SGD 500 or USD 100.

 

6. How long is my reward period?

You can choose between the 1 month or 3 months promotion.