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Standard Chartered Bank FD Calculator

FD Calculator Standard Chartered Bank in India Jul 2020

Last Updated 19th Jun 2020

Standard Chartered Bank FDs have tenures ranging from 1 year to 1 year 10 days with maximum rate of interest of 6.30%. Interest rates for senior citizens are higher than the normal rates and ranges upto 6.30%.

Tenure Rates Maturity Amount for ₹ 1 Lakh
7 days to 14 days 4.25% to 4.25% ₹ 1,00,082 - ₹ 1,00,163
15 days to 29 days 4.50% to 4.50% ₹ 1,00,185 - ₹ 1,00,358
30 days to 44 days 5.00% to 5.00% ₹ 1,00,411 - ₹ 1,00,603
45 days to 59 days 5.50% to 5.50% ₹ 1,00,678 - ₹ 1,00,889
Standard Chartered Bank FD Maturity Calculator
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Standard Chartered Bank Fixed Deposit Calculator

Standard Chartered Bank fixed deposit calculator helps you to calculate maturity value of your deposited amount at the interest rate offered compounded at quarterly. The amount of fixed deposits, interest rates on FD, deposit tenure and compounding frequency of interest together determine the maturity amount of the FD at the end of the tenure.

  • Deposit amount – This is the initial amount deposited by a customer in Standard Chartered Bank. Bank may allow higher interest rate on larger deposits. Standard Chartered Bank offers deposit amount in the range of 1,000 to No Limit.
  • Rate of Interest - Interest rate is the rate charged by the bank on your fixed deposit. Standard Chartered Bank offers a higher rate of interest on fixed deposits of longer tenure and lower interest rate on deposits of less than a year. Highest interest rate offered by Standard Chartered Bank is 6.30% for deposit amount below Rs. 1 crore corresponding to a deposit tenure of 1 year to 1 year 10 days.
  • Period of deposit - Bank offers low interest rate for short tenure FDs and higher interest rate for long tenure FDs. Bank offers a rate of 4.25% for a 1 year FD and a rate of 6.30% for a 1 year 10 days FD.
  • Interest Compounding Frequency - This determines the frequency at which interest is compounded. Compounding frequency can be monthly, quarterly, half yearly or annual frequency.
  • TDS applicability and TDS rate
    • Illustration: Mr. A opens a FD account of ₹ 1,00,000 with a tenure of 7 days at an interest rate of 4.25%. In this case, the maturity amount at the end of 7 days will be ₹ 1,00,671 which includes the principal of ₹ 1,00,000 and interest of ₹ 671 is earned on the principal amount during the period. Similarly, you can calculate the interest and maturity amount for higher tenures by using FD calculators.

      Standard Chartered Bank calculates quarterly interest on its fixed deposits. You can also opt for tax saving scheme to save tax on fixed deposit.

Standard Chartered Bank Fixed Deposit Interest Calculator – Interest Payment 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.

Standard Chartered Bank FD Calculator Formula

Along with online FD Calculator, you can use the formula to do the mathematical calculation of the maturity amount and interest earned on Standard Chartered Bank FD.

A = P (1 + r/n) ^ n*t
In the above formula –

  • A - Amount received on maturity
  • P – Deposit amount
  • r - Annual interest rate
  • n - Number of times the interest is compounded
  • t is Investment tenure

FAQs

What is the highest interest earned on Standard Chartered Bank fixed deposit?

You can earn a maximum interest of 6.30% on Standard Chartered Bank fixed deposit.

How is Standard Chartered Bank FD interest calculated?

The formula to calculate interest on Standard Chartered Bank FD is
A = P(1+r/n)^nt
Here: A = Maturity amount
P = Invested amount
r = Interest rate as decimal
n = number of times interest is compunded
t = tenure of deposit
However, you can use online FD calculator to estimate the value of interest earned on the deposited amount.

How many years FD will double in Standard Chartered Bank?

The growth of Standard Chartered Bank FD depends on the rate of interest and tenure. There is a method called Rule 72, which computes the number of years it will take to double one’s amount invested in Standard Chartered Bank FD. Now to apply the rule, one needs the rate of interest we get on FD. Let’s say the interest offered on FD is 7.60%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/7.60 = 9.47. So it will take a little more than 14 years for one’s investment to get doubled in Standard Chartered Bank.

What are the minimum and maximum amounts that I can invest in an Standard Chartered Bank FD?

The minimum investment limit in Standard Chartered Bank Fixed deposit account is ₹ 1,000 and there is no maximum investment limit on FD.


Standard Chartered News - Jul 2020
  • 2020-04-21 : Standard Chartered Bank revised FD rates
    Standard Chartered Bank revised its fixed deposits rate with effect from 21 April 2020. The revised rate of interest for a period of 7 to 14 days is 4.25%, for 15 to 29 days the rate is 4.50% and the rate for 30 to 44 days it is 5.00%. The FD rates for 45-89 days is 5.50%, for 90-120 days it is 6.25%, for 121- 364 days the rate is 6.45% and for one year to 375 days it is 6.50%. Further, fixed deposit rate for 376 days to less than 18 months is 6.40%, for 18 months to less than 4 years is 6.50% and for 4 years to 5 years it is 6.15%.
  • 2019-09-27 : Revised FD rates by Standard Chartered Bank
    Standard Chartered Bank has revised its interest rates on fixed deposits with effect from September 26, 2019. The revised rate of interest for a period of 7-14 days is 4.25%; for 15-29 days the rate is 4.50%; the rate for 30-44 days is 5.00%; for 45-59 days the rate is 5.50%; the rate for 60-89 days is 5.75%; for 90-120 days it is 6.50%; for 121-180 days the rate is 6.75%; and the rate for 181-210 days the rate is 6.80%. For longer tenure of 211 days to 3 years the rate is 6.90%, and for 3-5 years it is 6.50%.
  • 2019-09-06 : Revised FD rates for Standard Chartered Bank
    Standard Chartered Bank has revised its FD rate for certain tenure. For a tenure of 1 year to 375 days, the revised rate of interest is 7.10 percent which earlier was 7.20 percent. For senior citizens have been revised to 7.60 percent from 7.70 percent.
  • 2019-01-04 : Standard Chartered Bank revises interest rate on fixed deposits
    Standard Chartered Bank has revised the interest rate of fixed deposits on January 4, 2019. The interest rates have been hiked for fixed deposits less than Rs. 1 crore only. Interest rate of fixed deposit with 7 to 14 days period has been hiked to 4.25%. While the rates for 15 to 29 days have been hiked to 4.50% and for 30 to 45 days deposits have been hiked to 5.00% as well.
  • 2018-07-20 : Standard Chartered Bank revises interest rate on FD
    Standard Chartered Bank has revised its interest rate on retail fixed deposits or FDs below Rs. 1 crore, by up to 50 basis points in select maturities. The Interest rate on Standard Chartered Bank FD with a maturity of ninety days to one hundred twenty days has been increased to 6.50% and senior citizens will get an interest rate of 7.00%. One hundred twenty one days to one hundred eighty days will fetch an interest rate of 6.75%. Senior citizens will get an interest rate of 7.25%.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More