Standard Chartered Bank Fixed Deposit calculator – FD Options
In a periodic interest payout option, Standard Chartered Bank would transfer the interest earned at each interval (say, quarterly) to your bank account. The interest would remain the same across the life of the deposit. On maturity, unless the deposit is renewed, would transfer the principal amount to your bank account.
In case you opt for a Standard Chartered Bank cumulative deposit, on maturity you would get a credit for the principal and interest earned net of TDS.
Calculate the FD maturity amount using the FD calculator.
Fixed Deposit calculator Standard Chartered Bank – Will TDS be deducted?
In case the interest earned by you across all your fixed deposits across all branches of Standard Chartered Bank in a year exceeds 0, the bank must deduct TDS at 10.3%. In case your IT PAN is not updated in the Standard Chartered Bank records, it must deduct twice the TDS at 20.6%. So, do remember to update your PAN on your FD.
Sorry, but we aren’t done with tax yet. This was only the TDS. Now, you would need to add the interest income on all your Standard Chartered Bank FD’s and other FD’s to your taxable income for the year. Based upon your tax bracket, income tax is payable on this income. Remember that you must estimate the interest income and all your other incomes and, based on this, pay advance tax on advance tax payment dates (15th Sep, 15th Dec, 15th March and 31st March).
Standard Chartered Bank will also issue you a Form 16A giving details of tax deducted on FD interest and tax deposited by it with government treasury. The TDS amount deposited by the bank with Income Tax Department can be verified in your 26AS statement available online on IT department website or through your net banking account. You can claim credit for the TDS amount in your annual Income Tax Return.
Standard Chartered Bank FD interest rate calculator – Check your city
Keep your KYC documents - PAN card, address proof and photo ready.
13th Jan 17 Standard Chartered Bank reduces home loan interest rates
Standard Chartered Bank has reduced its home loan interest rate by 45 basis points. The revised home loan rate now stands at 8.90 percent as compared to 9.35 percent earlier. The new rate is effective from 8th January, 2017.
13th Jan 17 Standard Chartered Bank cuts loan against property rate by 1.25 percent
Standard Chartered Bank has reduced its interest rate on loan against property by 1.25 percent. The revised LAP rate now stands at 9.5 percent as compared to 10.75 percent earlier. The new rate is effective from 8th January, 2017.
21st Dec 16 Standard Chartered Private Equity invests in IFMR Capital
Standard Chartered PE invests Rs. 340 crore in IFMR Capital Pvt. Ltd., a Chennai based non banking financial company. The funding will help the company in expanding its lending business in the segments of affordable housing finance, micro finance, small business loans, vehicle loans and agricultural loans.
04th Aug 16 Standard Chartered India loss narrows to 25 million dollar in H1
Standard Chartered Bank narrowed its losses in India to 25 million dollar in the first six months of 2016. The bank earned 25 million dollar loss in the first half of this year which is lower than the 276 million dollar loss it reported in the corresponding period last year. Globally, however, the bank earned a 1 billion dollar profit with 13% drop in operating cost in the first half of the current year.
06th Jun 16 Standard Chartered to hire people to build up retail lending segment
Standard Chartered Bank plans to step up recruitment in India in the next few quarters as part of efforts to build up the lucrative but competitive retail lending segment to return to growth. The new staff will be mostly from rivals with experience in front end operations to help build relationships quickly, launch new products and get new clients in areas like wealth management. The bank plans to expand the its retail book with mortgages, personal loans and lending to small entrepreneurs through its network of branches in India. The bank will also invest in technology in the front and back ends, especially in mobile and online banking as part of this retail thrust.
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