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Fixed Deposit

Standard Chartered Bank offers Fixed Deposits to customers at attractive rates of interests. The variety of deposit schemes offered by the bank is suitable for every type of deposit requirement whether it is for a short term or for a long term. Let us take a look at the Fixed Deposit or Term deposit scheme offered by the bank and what does the scheme has in store for the customers.
 

Standard Chartered FD Rates 2018

FD Tenure

Interest Rates

Regular Citizens Senior Citizens
7-9 days 4.25% 4.75%
10-14 days 4.25% 4.75%
15 -17days 4.50% 5.00%
18-20days 4.50% 5.00%
21-23days 4.50% 5.00%
24-26 days 4.50% 5.00%
27-29days 4.50% 5.00%
30-32 days 5.00% 5.50%
33-35 days 5.00% 5.50%
36-38 days 5.00% 5.50%
39-41 days 5.00% 5.50%
42-44 days 5.00% 5.50%
45 -47 days 5.50% 6.00%
48-50 days 5.50% 6.00%
51-53 days 5.50% 6.00%
54-56 days 5.50% 6.00%
57-59 days 5.50% 6.00%
60-74 days 5.75% 6.25%
75-89 days 5.75% 6.25%
90 -104 days 6.00% 6.50%
105-120 days 6.00% 6.50%
121 -149 days 6.25% 6.75%
150-164 days 6.25% 6.75%
165-180 days 6.25% 6.75%
181-210 days 6.50% 7.00%
211-226 days 6.50% 7.00%
227 – 269 days 6.50% 7.00%
270 days-345 days 6.50% 7.00%
346 days-364 days 6.50% 7.00%
1yr – 375days 6.75% 7.25%
376 -390 days 6.50% 7.00%
391 – < 18 Months 6.50% 7.00%
18M – 2 Yrs 6.50% 7.00%
2 Yrs- 3 Yrs 6.50% 7.00%
3 Yrs – 4 Yrs 6.50% 7.00%
4 Yrs – 5Yrs 6.50% 7.00%

Note: Interest rates are applicable for investments below Rs 1 Crore.

Standard Chartered Bank Term Deposit

The term deposit scheme offered by the bank has the following features and benefits:
 

  • The deposit scheme can be chosen as a Short Term Deposit, Reinvestment Deposit, Simple Term Deposit and Monthly Income Plan
  • Deposit term can be chosen as per requirements
  • The minimum deposit amount is Rs 10, 000 thereafter the deposits should be made in multiples of Rs 1,000
  • The term of deposit can be chosen to be as low as 7 days or as high as 5 years depending on the customer’s investment outlook. Those needing a short-term deposit scheme can opt for any tenure starting from 7 days and be invested for as long as they want. For individuals with a longer term perspective, the deposit can be made for a maximum tenure of 5 years.
  • The accountholder has the flexibility to choose between simple interest method or compound interest method of interest calculation based on his requirement
  • Auto renewal facility on maturity, where the deposits will be renewed on maturity under original terms if the accountholder has no plans to withdraw
  • If the deposit account is opened online, the minimum amount of deposit required is Rs.10, 000 and thereafter in multiples of Re.1
  • Overdraft facility available with this account through which the customer can avail against the deposits in case any emergency situation
  • TDS will be applicable on the interest earned if the total interest earned per customer exceeds Rs.10, 000 in any year.
  • The deposits are linked with the existing Savings Account and in case there is a shortfall in the savings Account for meeting a debit transaction, the deposit account is broken in multiples of Rs.1000 and the relevant amount is debited from the deposit account to meet the deficit. The rest of the balance in the deposit account is eligible to earn a higher rate of interest as promised for the term deposit
Standard Chartered Bank Foreign Currency Deposit- These schemes are for NRIs

NRE Deposit-

A deposit scheme done in INR which is fully repatriable. The features are:
 

  • The deposit is maintained in Indian Rupees and the principal and interest are fully - repatriable
  • Interest earned is not subject to TDS
  • The term of deposit ranges from 1 year to 5 years
  • A minimum amount of deposit required is Rs.10, 000
  • The deposit promises auto renewal facility and overdraft facility

RFC Fixed Deposit-

A Standard Chartered Bank deposit scheme maintained in foreign currency with the following features:
 

  • The deposit can be maintained in USD, GBP, EUR, CAD, AUD.
  • The funds can be remitted in any currency which will be automatically converted in any of the above currencies chosen by the customer
  • The tenure of deposit ranges from 1 year to 3 years depending on the currency of deposit
  • Principal amount and the interest earned thereon are fully repatriable

NRO Deposit-

A Standard Chartered Bank deposit for funds generated in India with the following features:
 

  • The term of deposit can be chosen to be as low as 7 days or as high as 5 years
  • The customer has the flexibility to choose between simple interest method and compound interest method of interest calculation
  • Auto renewal facility available which means that the deposits will be renewed automatically at the original terms
  • If the deposit account is opened online, the minimum amount of deposit required is Rs.10, 000 and thereafter in multiples of Re.1
  • Overdraft facility available through which the customer can avail overdraft against the deposits made by him

FCNR Deposit-

The deposit is designed to protect the customer’s investment against exchange rate fluctuations. The features are as follows:
 

  • The deposit can be maintained in USD, GBP, EUR, CAD, AUD, JPY
  • The tenure of deposit ranges from 1 year to 3 years
  • The income earned on the account is tax free
  • The principal amount and the interest earned is fully repatriable
  • Auto renewal facility and overdraft facility is available under the account
  • The account can be opened through remittance from abroad and transfer from NRE and FCNR accounts
  • The deposit can be availed with Forward Cover facility for both new FCNR or NRE deposits with a minimum amount of USD 25, 000 per deposit