| Started On | 1969 |
| Head Quarters | London, England, UK |
| CRISIL Rating | NA |
| CEO | Bill Winters |
| Listed on exchange as | Standard Chartered PLC |
| ICRA Rating | NA |
| Tenure | Regular customers | Senior citizens |
|---|
Short-term deposits in Standard Chartered Bank FD start from 7 days and range to 1 year. The interest rates offered are 1.75% to 4.60% for general customers and 2.25% to 5.10% for senior citizens.
Medium-term deposits in Standard Chartered Bank FD range from 1 year to 5 years and less. The interest rates offered are 5.30% to 5.35% for general customers and 5.80% to 5.85% for senior citizens.
| Name | Tenure | Interest rate |
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A Standard Chartered Bank FD account can be opened through online and offline modes-
1) Online Method
2) Offline Method
For opening a Standard Chartered Bank FD account via offline mode, one has to visit the nearest Standard Chartered Bank branch. A bank representative will help to fill out the Standard Chartered Bank FD application form. Present all the necessary documents with the deposit amount. On successful processing of the application, an FD will be opened with Standard Chartered Bank.
Individuals or entities satisfying the following criteria can opt for a fixed deposit in Standard Chartered Bank –
The following documents have to be furnished for opening a Standard Chartered Bank FD –
Standard Chartered Bank FD is not eligible for tax deductions under Section 80C. Therefore, the interest income is taxable according to the income tax slab rates. Also, the Standard Chartered Bank will deduct a 10% TDS if the interest income surpasses Rs. 40,000. For senior citizens, the TDS limit is Rs. 50,000 p.a.
Also, the 10% TDS rate will only apply when the investors disclose their PAN Card details. If someone does not disclose the PAN Card details, the 20% TDS will be levied.
Standard Chartered Bank provides loans against their Fixed Deposits. The loan and the rate of interest for the loan depend on the rules set by Standard Chartered Bank.
Standard Chartered Bank permits premature withdrawal of FDs. However, it will charge a penalty on the interest. The bank levies a penalty of 1% on the interest of income.
Can the user select whether or not the interest is compounded?
FD interest can be computed using either simple or compound interest, according to the investor's desire.
Who is eligible to create a fixed deposit with Standard Chartered Bank?
Individuals, sole proprietors, partnerships, limited corporations, societies, clubs, organizations, and HUFs are all eligible to invest in the bank's FD.
Is there an option for auto-renewal?
The Standard Chartered FD program has the option of auto-renewal. This should be activated when you join up for the program.
At what interest rate does a client get the best returns on a Standard Chartered FD?
Currently, the bank offers the greatest ROI of 5.40 percent for tenures ranging from 2 to 3 years.
In how many years will Standard Chartered Bank's FD double?
The maturity amount will be determined by the deposit amount and tenure you choose when your account matures.