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Build a habit of small, regular savings by opening Recurring Deposits with Standard Chartered and earn a higher interest rate on your savings.

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Build a habit of small, regular savings by opening Recurring Deposits with Standard Chartered and earn a higher interest rate on your savings.

Take a step towards small savings with Recurring Deposits

Grow your funds further by investing in Recurring Deposits. Get in a habit of saving and earn good returns.

Features

Interest Rates

CLICK HERE TO VIEW MORE INTEREST RATES AND INTEREST CALCULATION METHODOLOGY

 

 

Eligibility & Documents

Eligibility

  • Any individual can open RD account. Product is available for Resident and Non Resident clients and applicable for Personal, Premium, Priority, Non Resident, Employee banking and Private banking segments.
    • Type of offering – Resident RD, Non-Resident RD, Senior Citizen RD, Staff RD
    • Currency – Indian Rupee only
    • Installment option – Monthly
    • Minimum installment amount- INR 1,000 / per month
    • Maximum installment amount – INR 100,000 / per month
    • Installment amount can be in multiples of INR 100/-
    • Tenure – 12 months, 15 months, 18 months, 21 months, 24 months
    • Minimum holding period – a) Resident/Senior citizen/Staff – 3 months, b) NR RD – 1 year
    • Premat upliftment penalty – 1% on prevailing interest rate (for more details refer below)
    • Installment dates – Installment dates should be between 1st and 28th of the month
  • Interest earned on RD will be credited to underline CASA account on maturity date along with principal amount.

Documents

  • Following is mandatory for RD account set up:
    • PAN
    • FATCA & CRS declaration
    • KYC completion
    • There should not any transaction hold on the funding account
  • Joint savings account holders can open Recurring Deposits online.
  • Senior citizens can open Recurring Deposits online.
  • Applicable for ‘either or survivor’ joint account holders only, subject to FATCA & CRS information being updated on the bank’s system for both the account holders.
  • In the absence of PAN details, TDS at a higher rate of 20% will be applied on resident Time Deposits with interest income of INR 10,000 (for senior citizen limit is Rs. 50,000 )or above during the financial year.

FAQs

Terms and Conditions