Standard Chartered FD Interest Rates 2021
Standard Chartered FD Interest Rates
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%.
| Tenure | FD interest rates | Senior Citizen FD interest rates |
|---|---|---|
| 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% |
| 376 days to 390 days | 5.20% | 5.70% |
| 391 days to 17 months 29 days | 5.20% | 5.70% |
| 18 months to 20 months 29 days | 5.40% | 5.90% |
| 21 months to 1 year 11 months 29 days | 5.25% | 5.75% |
| 1 year to 375 days | 5.30% | 5.80% |
| 2 years to 2 years 364 days | 5.40% | 5.90% |
| 3 years to 3 years 364 days | 5.35% | 5.85% |
| 4 years to 5 years | 5.35% | 5.85% |
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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:
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 2021:
| 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. Listed below are the Standard Chartered Bank fixed deposits interest rates for senior citizens 2021:
| 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% |
Best FD Plan as per Standard Chartered Bank FD Rates
To invest in Standard Chartered Bank fixed deposit, you must compare Standard Chartered Bank Fixed Deposit Rates for varying tenures. Standard Chartered Bank FD Interest Rates 2021 are best for the deposits with a tenure of 1 year 5 months 25 days to 2 years 11 months 4 days, wherein the current Standard Chartered Bank Fixed Deposit Interest Rates is 5.40 p.a.
If you are looking to invest in short term deposits with Standard Chartered Bank, the interest rate of Standard Chartered Bank for FD ranges from 1.75% p.a. to 4.60% p.a. These deposits are known as short term deposits and are offered with a tenure of 7 days to less than 365 days. Short term Standard Chartered Bank Fixed Deposit Rates for senior citizens range from 1.75% to 4.60% p.a.
If you want to invest in long term deposits, Standard Chartered Bank Fixed Deposit Rates with tenure ranging from 5 years to 5 years are a good choice with interest rates on deposits at 5.35%.Standard Chartered Bank Senior citizens FD Rates are offered at special rates with the highest deposit rates of5.85% p.a. on long term FDs.
Below-mentioned is some of the benefits of opening an FD account in Standard Chartered Bank:
Standard Chartered Bank Fixed Deposit Rate Trends
Standard Chartered Bank has cut interest rates on fixed deposits with effect from 01 Jul, 2021. The new Standard Chartered Bank highest FD rate is currently at 5.40%, which is an decrease of 0.1% from the previous highest rate of 5.50%. Currently, Standard Chartered Bank FD rate for upto 1 year is 1.75% and 5.40% for 5 year FD.
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.
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%
Maximum loan tenure is restricted up to the maximum tenure of the FD.
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.
FD Account Opening Process at Standard Chartered Bank
To open an Standard Chartered Bank Fixed Deposit, follow the steps as mentioned below:
To open a Fixed Deposit account in Standard Chartered Bank, you can visit the official website and login to your account. Choose the Fixed Deposit option from the menu and select the Type of FD you want to open and proceed. After this, you have to fill the deposit amount and select ‘Senior Citizen’ option if you are above 60. You have to choose the tenure of deposit and interest payout frequency. Click on Submit to open the Standard Chartered Bank FD after reading the terms and conditions.
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.
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.
✅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 2021?
Current interest for FD in Standard Chartered Bank ranges between 1.75% - 5.40%.
✅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 .
✅Did Standard Chartered Bank increase FD rates in 2021?
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
✅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. Below mentioned is the Standard Chartered Bank FD interest rate 2021 across different tenures.
| 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 year11 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% |
- 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%.
