Standard Chartered Tax Saver Fixed Deposit

Can you tell me about the FD or Fixed Deposit Rates offered by Standard Chartered Bank in India for its customers?

Standard Chartered India is the oldest international bank of India with over 99 branches in 42 cities. It opened its Indian operations in 1858 and is making good progress in terms of financial services rendered and customer gaining made.

Standard Chartered Short-Term Fixed Deposit Rates

This is extremely good short-term investment options for one looking for returns. It is also favourable for one who does not want to lock the money for a considerable time period.

The deposits that have a deposit period of 7-14 days earn an interest rate of 4.25% p.a. which is the lowest rate offered by the bank on deposits.

For 15-29 days the rate of interest is upped slightly to 4.75% p.a.

A deposit period of 30-44 days earns an attractive interest rate of 5.25%.

Deposits between 148-59 days, the rate offered are an attractive 6% p.a..

A higher rate of 7.25% p.a. is offered on fixed deposits with a tenor of 60-89 days.

Similarly, deposits that range from 90-120 days are rewarded at an attractive interest rate of 7.75% p.a. which is extremely good when compared to the rates offered by other competing banks.

A standard rate of 8% p.a. is offered for all deposits that have tenors ranging between 121-180 days.

Deposits that have a tenor greater than 180 days and less than 365 days earn a rate of 8.1% p.a.

Standard Chartered Mid-Term Fixed Deposit Rates

The rate of interest remains the same at 8.1% for deposits that have a deposit tenor between 365-375 days.

Between 391 days and 18 months, the rate of interest offered by it is 7.25% p.a. which is competitive with respect to fixed deposit rates offered by other banks.

Standard Chartered Long-Term Fixed Deposit Rates

The rates offered are considerably attractive for fixed deposits that have a locking period of 2-5 years. The interest rate offered on these is 7.25% p.a. which is in line with the rate trend of almost all competing banks.

Standard Chartered Fixed Deposit Rates for Senior Citizens

The same regular rates apply to senior citizens across all deposit categories.

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Answered By StudyChaCha Member