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Standard Chartered FD Interest Rates 2022

Standard Chartered Bank Fixed Deposit Interest Rate: Today

Last Updated 10th Jan 2022

When it comes to the FD interest rate, the highest rate offered on Standard Chartered Bank FD is 5.40%. Latest Standard Chartered Bank FD interest rate for senior citizens, on the other hand, ranges between 1.75% to 5.90%.You can earn up to ₹ 27,000 per lakh by investing some money in a fixed deposit account.

Time Duration FD Interest Rates Today Current FD Interest Rates for Senior Citizen
7 days to 29 days 1.75% 1.75%
30 days to 89 days 1.75% 1.75%
90 days to 180 days 3.50% 3.50%
181 days to 210 days 4.40% 4.40%
211 days to 364 days 4.60% 4.60%
Earn upto 7.05% on FD APPLY NOW

Standard Chartered Fixed Deposit Features

Standard Chartered Bank FDs are one the best investment options available for depositors who are looking to invest in a fixed income instrument and earn higher returns than the savings account. Key Features of Standard Chartered Bank Fixed Deposit are:

  • Deposit Amount : Standard Chartered Bank FD can be opened with an amount as a low to up to No Limit.
  • FD Tenure : Ranges between 7 days to 2 years 364 days.
  • Interest Rate Range : 1.75% p.a. to 5.40% p.a.
  • Senior Citizens FD Rate : 1.75% p.a to 5.90% p.a.
  • Highest Interest Rate : As per today’s rate, Standard Chartered Bank’s highest interest rate on FD is 5.40% offered for a tenure of 2 years 364 days.
  • Safety of Standard Chartered Bank Deposits : Standard Chartered Bank deposits are covered under the Deposit Insurance Scheme of RBI in which up to ₹ 5 lakh of all deposits of a depositor are insured by DICGC.
  • Loan against FD : Standard Chartered Bank provides loan against FD to help its depositor meet their liquidity requirements without breaking the FD.
  • Auto- Renewal Facility : Available
  • Nomination Facility : Available
  • Popular FD Schemes : Standard Fixed Deposit

Standard Chartered Bank FD Interest Rates Today

Interest rates on Standard Chartered Bank deposits are updated regularly by the Government of India. The following are updated Standard Chartered Bank FD interest rates 2022:

Tenure Interest Rate
7 days to 29 days 1.75%
30 days to 89 days 1.75%
90 days to 180 days 3.50%
181 days to 210 days 4.40%
211 days to 364 days 4.60%
376 days to 390 days 5.20%
391 days to 17 months 29 days 5.20%
18 months to 20 months 29 days 5.40%
21 months to 1 year 11 months 29 days 5.25%
1 year to 375 days 5.30%
2 years to 2 years 364 days 5.40%
3 years to 3 years 364 days 5.35%
4 years to 5 years 5.35%

Standard Chartered Bank FD Rates for Senior Citizens

With an aim to attract senior citizens above the age of 60 years to invest in the fixed deposits, Standard Chartered Bank offers a higher interest rate to senior citizens than the general public. Fixed deposit interest rates for senior citizens in Standard Chartered Bank 2022 are as follows:

Tenure Interest Rate for senior citizens
7 days to 29 days 1.75%
30 days to 89 days 1.75%
90 days to 180 days 3.50%
181 days to 210 days 4.40%
211 days to 364 days 4.60%
376 days to 390 days 5.70%
391 days to 17 months 29 days 5.70%
18 months to 20 months 29 days 5.90%
21 months to 1 year 11 months 29 days 5.75%
1 year to 375 days 5.80%
2 years to 2 years 364 days 5.90%
3 years to 3 years 364 days 5.85%
4 years to 5 years 5.85%

Standard Chartered Bank Fixed Deposit Rates – Premature Withdrawal

You can close your Standard Chartered Bank FD account prematurely, however Standard Chartered Bank charges a penalty of 1% for premature withdrawal. Also, The penal provisions for premature closure on Standard Chartered Bank FD are subject to change from time to time and may also vary with deposit schemes.

Nomination Facility on Standard Chartered Bank FD

Standard Chartered Bank also offers a nomination facility on Fixed Deposit to claim the amount in case of the depositor's death. You can file the details of only 1 nominee when opening an Standard Chartered Bank FD account. The nominee has to submit his/her identification proof at the time of claim.

Earn upto ₹ 27,000 Per Lakh on Standard Chartered Bank Fixed Deposit?

To earn ₹ 27,000 per lakh on an online FD for 60 months:-

  • Investment Amount - ₹ 1,00,000
  • FD Interest Rate - 5.40%
  • Tenure - 60 months
  • Calculation formula - Simple interest
  • Interest Payout - ₹ 27,000
  • FD Maturity Amount - ₹ 1,27,000

Note: Before investing in a fixed deposit account, you must compare the FD rates offered by different financial institutions. This way, you can earn the maximum returns.

FD Account Opening Process at Standard Chartered Bank

To open an Standard Chartered Bank Fixed Deposit, follow the steps as mentioned below:

  • Visit the official website of Standard Chartered Bank and log in to your FD account.
  • From the menu, choose the Fixed Deposit option, the Type of FD you want to open and click on proceed.
  • Enter the deposit amount and select the ‘Senior Citizen’ option if you are above 60.
  • Now, choose the deposit tenure and interest payout frequency.
  • Finally, click on Submit to open the Standard Chartered Bank FD after reading the terms and conditions.

Loan Against Fixed Deposit Standard Chartered Bank

Standard Chartered Bank offers loans up to 85% against its own deposit. Note that Standard Chartered Bank will not give you loan against FD of any other bank. Standard Chartered Bank offers Loan against FD at the rate of 2.75% to 6.4%

Illustration - Mr. Rahul has opened a fixed deposit of ₹ 1,00,000 for 2 years in Standard Chartered Bank. The borrower later decided to take a loan against his FD. The bank has approved a credit limit of 85% against his FD at 10% interest rate. Now, if the borrower draws ₹ 85,000 on the first of the month and then repays the money on the 1st of next month, then he is supposed to pay the interest on ₹ 85,000 available for 1 month only. The amount he repays after 1 month is ₹ 85,703. So, the interest charged on the loan taken is ₹ 703.

FAQs

What is the highest fixed deposit interest rate for Standard Chartered Bank?

You can earn a maximum interest of 5.40% on Standard Chartered Bank fixed deposit deposits for a tenure of 10 months.

Are there any special rates for senior citizens FD of Standard Chartered Bank?

Yes, senior citizens get a higher rate on their deposits compared to FD rates. The rate of regular FD are in the range of 1.75% to 5.40%. Compared to this, Standard Chartered Bank senior citizens FD are in the range of 1.75% to 5.90%.

What are the current Standard Chartered Bank FD interest rates 2022?

Current interest for FD in Standard Chartered Bank ranges between 1.75% - 5.40%. for different tenure.The highest rate is offered on a tenure 5.90 months/years. For senior citizens the interest rates ranges bweteen 1.75% - 5.90%.

Is there any minimum amount that I have to give for opening a Fixed Deposit with Standard Chartered Bank?

The minimum deposit amount required to book an FD with Standard Chartered Bank is and there is no limit for maximum amount.

Did Standard Chartered Bank increase FD rates in 2022?

No, Standard Chartered Bank has reduced its Fixed Deposit rates by upto 0.1%. The best rate on Standard Chartered Bank FD has been cut to 5.40% from 5.50% earlier. The fixed deposit rates of Standard Chartered Bank are now in the range of 1.75% to 5.40% with effect from 01 Jul, 2021.

Is it possible to change the tenure of my existing fixed deposit account with Standard Chartered Bank?

No, it is not possible to alter the tenure selected for the fixed deposit account once the account is opened. However, you may close your existing fixed deposit account and can open a new account with a desired tenure of your choice.

What are the implications of opening an FD bank account without having PAN?

Following are the implications for the customers opening an FD account with Standard Chartered Bank without their PAN card

  • Your TDS will be deducted at the rate of 20% as against 10% under section 206AA
  • NO TDS credit from the Income Tax department
  • NO TDS certificate will be issued
  • Form 15G/H and other exemption certificates will be invalid and penal TDS will apply

Can a customer open an FD account online in Standard Chartered Bank?

Yes, you can submit your application for opening an FD account on the website of Standard Chartered Bank. After submitting the application, you will be contacted by the bank’s representative for the further process, which includes filling an application process and submitting KYC documents.

In how many years FD will double in Standard Chartered Bank?

The interest rate on FD depends upon the tenure you choose. To know the time period in which your FD amount will get doubled, you need to divide 72 the 5.40%. For Standard Chartered Bank FD the number of years in which your FD will get doubled is; 72/5.40 = 13

What is the interest of 1 lakh in the Standard Chartered Bank?

The interest on Standard Chartered Bank fixed deposit depends on the tenure of the FD for which it is deposited. The highest interest rate is 5.40% for tenure and banks offer senior citizens little more, which is 5.90%.


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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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