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Standard Chartered FD Calculator

Standard Chartered Bank Fixed Deposit Interest Calculator

Last Updated 12th Jul 2021

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 Rates Maturity Amount for ₹ 1 Lakh
7 days to 29 days 1.75% to 1.75% ₹ 1,00,034 - ₹ 1,00,139
30 days to 89 days 1.75% to 1.75% ₹ 1,00,144 - ₹ 1,00,427
90 days to 180 days 3.50% to 3.50% ₹ 1,00,863 - ₹ 1,01,733
181 days to 210 days 4.40% to 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 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 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
    • 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 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.

FD Maturity Calculator

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. The interest rates for senior citizens are higher than normal rates of Standard Chartered Bank FD.

Suppose if you make an investment of ₹ 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 amount for this deposit amount is ₹ 1,30,760 and the total interest earned is ₹ 30,760 for below 60 years age citizens. However, the interest earned for senior citizens is ₹ 34,024 which is higher. 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
2021 ₹ 2,718 ₹ 1,02,718 ₹ 2,972 ₹ 1,02,972
2022 ₹ 5,660 ₹ 1,08,378 ₹ 6,211 ₹ 1,09,183
2023 ₹ 5,972 ₹ 1,14,350 ₹ 6,586 ₹ 1,15,769
2024 ₹ 6,301 ₹ 1,20,651 ₹ 6,983 ₹ 1,22,752
2025 ₹ 6,648 ₹ 1,27,299 ₹ 7,404 ₹ 1,30,156
2026 ₹ 3,460 ₹ 1,30,759 ₹ 3,868 ₹ 1,34,024

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

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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 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 6.95%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/6.95 = 10.36. 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.


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Standard Chartered News - Jul 2021
  • 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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