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Standard Chartered FD Calculator

Standard Chartered Bank Fixed Deposit Calculator 2022

Last Updated 10th Jan 2022

Standard Chartered Bank FDs have tenures ranging from 1 year 5 months 25 days to 2 years 11 months 4 days with maximum rate of interest of 5.40%. Interest rates for senior citizens are higher than the normal rates and ranges upto 5.90%.

Tenure Interest Rate for General Public Interest Rate for Senior Citizens Max Maturity Amount per Lakh
7 days to 29 days 1.75% 1.75% ₹ 1,00,034 - ₹ 1,00,139
30 days to 89 days 1.75% 1.75% ₹ 1,00,144 - ₹ 1,00,427
90 days to 180 days 3.50% 3.50% ₹ 1,00,863 - ₹ 1,01,733
181 days to 210 days 4.40% 4.40% ₹ 1,02,194 - ₹ 1,02,550
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Standard Chartered Bank Fixed Deposit Calculator

Standard Chartered Bank fixed deposit calculator helps you calculate maturity value of your deposited amount at the interest rate which is compounded 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. Banks may allow a higher interest rate on larger deposits. Standard Chartered Bank offers a deposit amount in the range of Rs. 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 5.40% for deposit amount below Rs. 1 crore corresponding to a deposit tenure of 1 year 5 months 25 days to 2 years 11 months 4 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 1.75% for a 1 year 5 months 25 days FD and a rate of 5.40% for a 2 years 11 months 4 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 - A TDS of 10% of interest amount is applicable if you earn more than Rs 40,000 in a year from FD, which is called FD income. If you do not submit the PAN Card to the bank then TDS rate will be 20% of interest amount.
    • Illustration: Mr. A opens a FD account of ₹ 1,00,000 with a tenure of 7 days at an interest rate of 1.75%. 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 a tax saving scheme to save tax on fixed deposit.

How to Use MyLoanCare FD Calculator

Here is a simple procedure to use MyLoanCare FD calculator:-

  • Go to the FD Calculator.
  • Fill the fields like Deposit Amount, Rate of Interest, Period of Deposit (In years or months), Interest compound frequency.
  • Click Calculate.
  • Result will be shown, which will consist of total maturity amount and total interest earned

Standard Chartered Bank Fixed Deposit Interest Rate Calculator – Interest Payment Options

  • Non Cumulative- 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.
  • Cumulative- 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.

How is Standard Chartered Bank FD Rate Calculated?

Standard Chartered Bank calculates fd interest in two ways, one is cumulative and non-cumulative as discussed above. It is a decision made by you whether you want interest payout at the end of the tenure or monthly, quarterly, half-yearly or yearly. To earn more money you can go for a cumulative method because interest earned throughout the tenure is added to the principal amount and is compounded then. However, if you are looking for monthly income or so then you can go for non-cumulative.

Standard Chartered Bank FD Maturity Calculation for 5 Year

The interest earned on a fixed deposit in Standard Chartered Bank depends on the deposit amount, interest applicable, deposit tenure and the type of interest calculation frequency. Interest on Standard Chartered Bank FD can be calculated monthly, quarterly, half-yearly and annually.

Let’s understand how much interest you will earn if you invest ₹ 1,00,000 in Standard Chartered Bank FD for a 5-year tenure at an interest rate of 5.40% for depositors below 60 years and 5.90% for senior citizens.The maturity schedule of Standard Chartered Bank FD for 5 years is explained below in the table –

Maturity Schedule for ₹ 1,00,000 FD at 5.40% for Citizens below 60 years and at 5.90% for Senior Citizens for 5 years

Year Citizens below 60 Years of Age Senior Citizens above 60 Years
Interest Earned Closing Balance Interest Earned Closing Balance
2022 ₹ 5,510 ₹ 1,05,510 ₹ 6,032 ₹ 1,06,032
2023 ₹ 5,814 ₹ 1,11,324 ₹ 6,396 ₹ 1,12,428
2024 ₹ 6,134 ₹ 1,17,458 ₹ 6,781 ₹ 1,19,209
2025 ₹ 6,472 ₹ 1,23,930 ₹ 7,190 ₹ 1,26,399
2026 ₹ 6,829 ₹ 1,30,759 ₹ 7,624 ₹ 1,34,023

Standard Chartered Bank FD Calculator Formula

Along with an 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

Other Investment Calculators

FAQs

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

You can earn a maximum interest of 5.40% on Standard Chartered Bank fixed deposits.

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.You can also use Standard Chartered Bank fd calculator to calculate the maturity amount. Now to apply the rule, one needs the rate of interest we get on FD. Let’s say the interest offered on FD is 7.05%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/7.05 = 10.21. 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.

Can I withdraw my premature FD from Standard Chartered Bank?

Yes, you can withdraw your premature FD amount if you want money before the tenure ends. However, you might have to pay a penalty fee ranging from 1% of FD amount for premature withdrawal.

How can I calculate Standard Chartered Bank premature FD amount?

To calculate premature FD amount you can use Standard Chartered Bank bank fd calculator. All you have to put is the value of the invested amount, tenure, interest rate and premature penalty rate (if any).


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Standard Chartered News - Jan 2022
  • 2021-02-22 : Standard Chartered digital initiatives bolstered bank loan and deposits portfolio
    Digital initiatives like Video KYC and Virtual credit card aided Standard Chartered Bank to increase its loan and deposits portfolio. The digital initiatives have helped Bank in providing efficient and seamless banking services to all its clients especially the new-age ones.
  • 2021-01-29 : FD rates revised for Standard Chartered Bank
    Standard Chartered Bank revised its FD rates with effect from 15 January 2021. The revised rate for a period of 7 to 29 days is 2.50% and the rate 30 days to 89 days is 3%, for 90 to 180 days the rate is 3.50%, for 181 days to 210 days the rate is 4.40% and for 211 to 364 days it is 4.60%. Further, fixed deposit rate for 365 days to less than 17 months 29 days is 5.20%, FD rate for 18 to 21 months is 5.40%, for 1 year to 375 days it is 5.30% and it stands at 5.40% for 2 years to 2 years 364 days. Fixed deposit rate for the tenure of 3 years to 5 years is 5.35%.
  • 2021-01-18 : Standard Chartered Bank revised its FD rates
    Standard Chartered Bank revised its FD rates with effect from 15 January 2021. The revised rate for a period of 7 to 29 days is 2.50% and the rate 30 days to 89 days is 3%, for 90 to 180 days the rate is 3.50%, for 181 days to 210 days the rate is 4.40% and for 211 to 364 days it is 4.60%. Further, fixed deposit rate for 365 days to less than 17 months 29 days is 5.20%, FD rate for 18 to 21 months is 5.40%, for 1 year to 375 days it is 5.30% and it stands at 5.40% for 2 years to 2 years 364 days. Fixed deposit rate for the tenure of 3 years to 5 years is 5.35%.
  • 2020-10-19 : Revised FD rates for Standard Chartered Bank
    Standard Chartered Bank revised its FD rates with effect from 16 October 2020. The revised rate 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 90-210 days it is 6%, for 211- 364 days the rate is 6.10% and for one year to 375 days it is 6.30%. Further, fixed deposit rate for 376 days to less than 21 months is 6.20%, for 21 months to less than 4 years is 6.20% and for 4 years to 5 years it is 6%.
  • 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%.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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