Interest Rates on Domestic Fixed Deposits Are Updated by Standard Chartered Bank

For fixed deposits under 2 crore with maturities ranging from 7 days to 5 years, the bank is currently offering an interest rate range of 2.75% to 6.50%.

Highlights

  • The bank is now offering an interest rate of 6.35% on FDs that mature in 1 year
  • On deposits that mature in 391 days to 18 months, an interest rate of 6.40% is being offered
  • On FDs with maturities between three and five years, the bank offers an interest rate of 6.50%.

Fixed depositThe Standard Chartered Bank, which has been operating in India for more than 160 years, was one of the first foreign banks to do so. The bank operates a nationwide network of 100 branches in 42 different locations. The interest rates on Standard Chartered Bank's fixed deposits have changed; the new rates are effective for deposits under 2 crore and over 2 crore as of November 18, 2022, respectively. For fixed deposits under 2 crore with maturities ranging from 7 days to 5 years, the bank is currently offering an interest rate range of 2.75% to 6.50%.

Standard Chartered Bank FD Rates

On FDs of less than 2 Cr that mature in the next 7 days to 44 days, the bank now gives an interest rate of 2.75%, and Standard Chartered Banknow offers an interest rate of 3.25% on those that mature in the next 45 days to 59 days. Deposits maturing in 60 to 89 days will now earn interest at a rate of 3.50%; those maturing in 90 to 120 days will now earn interest at a rate of 4.50%. Standard Chartered Bank is currently offering an interest rate of 5.00% for FDs maturing in 121 days to 180 days, and a rate of 6% for those maturing in 181 days to 364 days.

The bank is now offering an interest rate of 6.35% on FDs that mature in 1 year and 375 days, and Standard Chartered Bank is also offering an interest rate of 6.10% on FDs that mature in 376 to 390 days. On deposits that mature in 391 days to 18 months, an interest rate of 6.40% is being offered, while on deposits that maturity in 18 months to 21 months, an interest rate of 6.60% is presently being offered. Standard Chartered Bank offers an interest rate of 6.50% for FDs maturing in the next 21 months to 2 years, and 6.60% for those maturing in the next 2 years to 3 years. On FDs with maturities between three and five years, the bank offers an interest rate of 6.50%.

On its website, Standard Chartered Bank states that, starting on September 1, 2018, "Senior Citizen" benefit of additional 0.50% p.a. interest will be made available only to tenors greater than or equal to one year and amounts less than 1 crore." This modification applies to both new reservations and renewed deposits.

"Non-Resident customers" (NRO & NRE accounts) are not eligible for the senior citizen rate, and deposits worth more than $1 Cr are not eligible for the senior citizen rate's additional 0.50% annual interest per year.

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