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Standard Chartered Savings Account Interest Rates

Standard Chartered Savings Account Interest 2022

Last Updated 10th Jan 2022

Saving Account Interest Rate
2-in- 1 Account 0.50% - 0.50%
3-in- 1 Account 0.50% - 0.50%
Basic Banking Account 0.50% - 3.25%
Aasaan Account 0.50% - 0.50%
aXcessPlus Account 0.50% - 0.50%
Employee Banking Account 0.50% - 0.50%
eSaver Plus Saving Account 0.50% - 0.50%
Parivaar Account 0.50% - 0.50%
SuperValue Account 0.50% - 0.50%
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Standard Chartered Bank Savings Accounts Interest Rate

Standard Chartered Bank offers an interest rate ranging upto 3.25% on the minimum average balance maintained in the savings account. It calculates the interest rate on savings bank accounts on a daily basis. However, the interest is paid to the account holders every quarter. With Standard Chartered Bank Savings Account youth and minors can get additional benefits on their Savings Account. Standard Chartered Bank also offers attractive benefits like mobile and internet banking services, free Debit Card and customised savings account depending on different customer profiles.

Features and Benefits

Standard Chartered Bank Savings Account helps you to save money by providing interest on your idle money deposited in the savings accounts. The rate of interest on Standard Chartered Bank Savings Account varies as per the Savings Account product. Some of the key features and benefits of Standard Chartered Bank savings account are:

  • It offers interest rates upto 3.25% p.a. You can easily access Standard Chartered Bank Savings Account anywhere through a large network of branches and ATMs .
  • If you want to transfer funds from Standard Chartered Bank Savings account to any other bank account, you can do it through modes such as RTGS , IMPS, NEFT and UPI facilities.
  • To maintain an Standard Chartered Bank Savings account, you require a minimum balance of NIL.
  • Standard Chartered Bank personalized account number and cheque book enhances security and ensures your money is safe.
  • You can get SMS Alerts and e-statement facilities with Standard Chartered Bank Savings Account.
  • With the Auto Sweep Facility of Standard Chartered Bank, your account can be linked to a Multi Option Deposit MOD account.

Standard Chartered Savings Account Rates

Saving Account Interest Rate Minimum Balance
2-in- 1 Account 0.50% - 0.50% Rs. 50,000
3-in- 1 Account 0.50% - 0.50% Savings Account: Rs. 5,000; Enhanced Savings Account : Rs. 25,000
Basic Banking Account 0.50% - 3.25% NIL
Aasaan Account 0.50% - 0.50% NIL
aXcessPlus Account 0.50% - 0.50% NIL
Employee Banking Account 0.50% - 0.50% N.A
eSaver Plus Saving Account 0.50% - 0.50% N.A
Parivaar Account 0.50% - 0.50% Rs. 25,000 per quarter
SuperValue Account 0.50% - 0.50% Rs. 50,000

Eligibility & Documentation Required for Opening Savings Account in Standard Chartered Bank

To open a savings account in Standard Chartered Bank, you need to fulfill the following eligibility criteria:

  • You need to have valid KYC Documents.
  • You can open a savings account singly or jointly.

Documents Required

You can open a savings account with prescribed application form and minimum KYC documents, which are mentioned below:

  • Application Form with attested photographs
  • Proof of identity- Passport, Voter ID card, PAN Card, Govt./Defence ID card, Driving Licence etc.
  • Proof of current address- Credit Card Statement, Salary slip, Electricity Bill/Telephone Bill, ration card etc.

How is Standard Chartered Bank Savings Account Interest Rate Calculated?

As per the RBI mandate, Standard Chartered Bank calculates saving account rate on average balances in the account on a daily basis. The interest can however be paid monthly, annually or quarterly. The following formula is used by Standard Chartered Bank to calculate interest on Savings Bank Account on the basis of daily balance in the account

Interest = Amount (Daily balance)*(No of days)* Interest/Days in the year.

Compare Savings Account Interest Rates of All Banks

Standard Chartered Savings Account Products

  • 2-in- 1 Account : Standard Chartered Bank offers interest rates ranging between 0.50% to 0.50% on 2-in- 1 Account.You can open a 2-in- 1 Account in Standard Chartered Bank by depositing Rs. 50,000 amount as minimum balance.
  • 3-in- 1 Account : If you have deposited your excess funds in a 3-in- 1 Account, you can get interest at 0.50% to 0.50% on your account. This account can be opened by anyone with a minimum age of 18 years.
  • Basic Banking Account : Standard Chartered Bank provides interest rates ranging between 0.50% to 3.25% on Basic Banking Account. The minimum balance requirement to open this account is NIL.
  • Aasaan Account : You can get interest at 0.50% and 0.50% respectively on Aasaan Account in Standard Chartered Bank. The account can be opened in Standard Chartered Bank by depositing NIL amount.
  • aXcessPlus Account : If you have deposited your excess funds in a aXcessPlus Account, you can get interest at 0.50% to 0.50% on your account.
  • Employee Banking Account : You can get interest at 0.50% to 0.50% in Employee Banking Account. This account can be opened in Standard Chartered Bank by depositing a minimum amount of after an age of 18 years.
  • eSaver Plus Saving Account : The interest that you can earn on eSaver Plus Saving Account is in the range of 0.50% to 0.50% respectively.
  • Parivaar Account : Standard Chartered Bank provides interest rate at 0.50% to 0.50% on Parivaar Account. Further, to open this Saving Account, the minimum balance requirement is Rs. 25,000 per quarter. You can open this account at a minimum age of 18 years.

FAQs

How much interest is charged by Standard Chartered Bank on Savings Account?

As per the current rates, Standard Chartered Bank offers maximum interest rate of 3.25% on Savings Account. Standard Chartered Bank provides this interest on the minimum balance maintenance of NIL. The interest rate may however vary across the Standard Chartered Bank savings account product.

What is the minimum amount required for opening Savings Account in Standard Chartered Bank?

The minimum amount required for opening a Savings Account in Standard Chartered Bank is NIL.If you do not maintain the minimum balance requirement in Standard Chartered Bank, you are subjected to pay penalty charges.

What are the balance non - maintenance Charges on Standard Chartered Bank Savings Account?

The Balance Non Maintenance Charges on Savings Account by Standard Chartered Bank are None.The minimum balance requirement in Standard Chartered Bank savings account is NIL.

How does Standard Chartered Bank calculate interest charged on Savings Account?

Interest on Savings Account is calculated on Quarterly basis. The following formula is used by Standard Chartered Bank to calculate interest on Savings Account.

Monthly interest=Amount (Daily balance)*(No of days)* Interest/Days in the year

Does Standard Chartered Bank offer Debit Card to the account holder?

Yes, Standard Chartered Bank offer Debit Cards to the account holders differing according to the product. Some of the popular savings account products of Standard Chartered Bank with the type of Debit Card offered are listed in the table below.

3-in- 1 AccountInternational Debit Card
aXcessPlus AccountInternational Debit Card
Employee Banking AccountPlatinum Debit Card with 5 per cent cash back

What is the eligibility criteria to open a savings account in Standard Chartered Bank?

To open a savings account in Standard Chartered Bank you need to fulfill the following eligibility criteria:

  • This account is for resident Indians of 18 years of age and above can open a sole or joint account.
  • In addition, HUF and foreign nationals can also open a basic savings account with Standard Chartered Bank.
  • You must have your basic KYC done

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