Domestic, NRO and NRE Savings Rate

Savings Bank balance Interest Rate at present (per annum) Revised Interest Rate effective 1st September 2017 (per annum)
Upto Rs. 50 lakh 4% 3.5%
Above Rs. 50 lakh 4% 4% (unchanged)

Effective 1st September 2017, Rate of Interest for Savings Bank Deposit Accounts will be revised as above:


  • Interest will be calculated at applicable Savings Bank Interest Rate on the daily available balance and same will be paid at quarterly rests.


Resident Foreign Currency (RFC) Savings Rate

Currency Interest Rate at present (per annum) Revised Interest Rate effective 15 November 2017 (per annum)
AUD 3.50% 0.95%
USD 0.50% 0.50% (unchanged)
EUR 1.00% 0.01%
GBP 1.25% 0.01%
JPY 3.50% 0.01%

Effective 15 November 2017, Rate of Interest for RFC Savings Bank Deposits Accounts will be revised as above:

NRE*

Tenor band INR < 1 Cr INR 1 Cr < 2 Cr
1yr - 375days 6.75% 5.50%
376 -390 days 6.50% 5.50%
391 - < 18 Months 6.50% 5.50%
18M - 2 Yrs 6.50% 5.50%
2 Yrs- 3 Yrs 6.50% 5.50%
3 Yrs - 4 Yrs 6.50% 5.50%
4 Yrs - 5 Yrs 6.50% 5.50%

*Staff rates is not applicable on NRE Term Deposits.

The interest rates are updated on a daily basis. In case of non-updation of today's interest rate, please revisit later to check the updated rates.

Important Information: Premature withdrawal of the Term Deposit shall be subject to penalty of 1% on the interest rate payable for the tenor the deposit has been held with the bank. If premature penalty rate falls below the applicable interest rate for reduced tenure then penalty rate will also be reduced to the extent of applicable interest rate. In the event of the death of the depositor, premature termination of Term Deposits will be allowed subject to completion of documentary formalities as required. Such premature withdrawal would not attract any penal charges. There is no interest payment in case of premature withdrawal of the NRE/FCNR Term Deposit before the completion of the minimum tenor (1 year). In the case of premature withdrawal of NRE term deposits for conversion into Resident Foreign Currency (RFC) Account, the bank would not levy any penalty for premature withdrawal.


DOMESTIC / NRO (Interest rates are per annum)

20th November 2017 INR < 1 Cr INR 1cr - < 2cr
Interest Rate Senior Citizen Rate (only for resident)**
7-9 days 4.25% 4.75% 4.25%
10-14 days 4.25% 4.75% 4.50%
15 -17days 4.50% 5.00% 4.50%
18-20days 4.50% 5.00% 4.50%
21-23days 4.50% 5.00% 4.50%
24-26 days 4.50% 5.00% 4.50%
27-29days 4.50% 5.00% 5.00%
30-32 days 5.00% 5.50% 5.00%
33-35 days 5.00% 5.50% 5.00%
36-38 days 5.00% 5.50% 5.00%
39-41 days 5.00% 5.50% 5.00%
42-44 days 5.00% 5.50% 5.00%
45 -47 days 5.50% 6.00% 5.00%
48-50 days 5.50% 6.00% 5.00%
51-53 days 5.50% 6.00% 5.00%
54-56 days 5.50% 6.00% 5.00%
57-59 days 5.50% 6.00% 5.00%
60-74 days 5.75% 6.25% 5.20%
75-89 days 5.75% 6.25% 5.20%
90 -104 days 6.00% 6.50% 5.25%
105-120 days 6.00% 6.50% 5.25%
121 -149 days 6.25% 6.75% 5.25%
150-164 days 6.25% 6.75% 5.25%
165-180 days 6.25% 6.75% 5.25%
181-210 days 6.50% 7.00% 5.50%
211-226 days 6.50% 7.00% 5.50%
227 - 269 days 6.50% 7.00% 5.50%
270 days-345 days 6.50% 7.00% 5.50%
346 days-364 days 6.50% 7.00% 5.50%
1yr - 375days* 6.75% 7.25% 5.50%
376 -390 days 6.50% 7.00% 5.50%
391 - < 18 Months 6.50% 7.00% 5.50%
18M - 2 Yrs 6.50% 7.00% 5.50%
2 Yrs- 3 Yrs 6.50% 7.00% 5.50%
3 Yrs - 4 Yrs 6.50% 7.00% 5.50%
4 Yrs - 5Yrs 6.50% 7.00% 5.50%


  • *Staff rates not applicable.

  • Staff rates not applicable for Online booking. Please contact nearest branch or call Phone banking to avail staff interest rate

  • ** Staff rate is not applicable in case of deposits with Senior citizen rate.

  • Senior Citizen rate is not applicable for ‘Non-Resident clients’ (NRO & NRE accounts)

  • Senior Citizen rate will not be automatically available in the normal course on roll over if the current deposit is not availing a senior citizen rate’. In such instances, the client will need to reach out to the bank and opt for senior citizen rate as per the current process of availing senior citizen rates.

  • In case of Joint account, senior citizen interest rate will be offered basis the age of the Primary account holder.

  • Deposits less than INR 1 Cr can be booked online. Please contact your Relationship Manager or nearest SCB Branch for deposits greater than or equal to INR 1 Cr.

  • The interest rates are updated on a daily basis. In case of non-updation of today's interest rate, please revisit later to check the updated rates.


Important Information: Premature withdrawal of the Term Deposit shall be subject to penalty of 1% on the interest rate payable for the tenor the deposit has been held with the bank. In the event of the death of the depositor, premature termination of Term Deposits will be allowed subject to completion of documentary formalities as required. Such premature withdrawal would not attract any penal charges. There is no interest payment in case of premature withdrawal of the NRE/FCNR Term Deposit before the completion of the minimum tenor (1 year). In the case of premature withdrawal of NRE term deposits for conversion into Resident Foreign Currency (RFC) Account, the bank would not levy any penalty for premature withdrawal.


FCNR Carded rates

Deposit Period Rate w.e.f Rate w.e.f
1st Nov 2017 1st Nov 2017
Currency: USD < USD 100,000 >= USD 100,000
1 year - < 375 days 1.85 1.85
375 D 1.85 1.85
376 D - < 1.5 years 1.50 1.50
1.5 years - < 2 years 0.01 0.01
2 years - < 740 D 0.01 0.01
740 D 0.01 0.01
741 D - < 3 years 0.01 0.01
36 - <39 Months 0.01 0.01
Currency : GBP
1 year < 375 days 0.85 0.85
375 D 0.85 0.85
376 D < 1.5 years 0.55 0.55
1.5 years < 2 years 0.01 0.01
2 years 0.01 0.01
Currency: EUR
1 year - < 375 days 0.01 0.01
375 D 0.01 0.01
376 days - < 1.5 years 0.01 0.01
1.5 years < 2 years 0.01 0.01
2 years 0.01 0.01
Currency: CAD
1 year 1.15 1.15
366D < 390D 1.15 1.15
391D < 1.5 years 1.15 1.15
Currency: AUD
1 year 2.75 2.75
366D < 390D 2.75 2.75
391D < 1.5 years 1.80 1.80
Currency: JPY
1 year 0.40 0.40

In case of USD FCNR B deposits booked for tenure 3 years and above 



  • The minimum lock-in period for the deposit will be one year. Premature withdrawal will be allowed after one year.

  • Premature withdrawal of the Term Deposit shall be subject to penalty of 1% on the interest rate payable for the tenor the deposit has been held with the bank. If premature penalty rate falls below the applicable interest rate for reduced tenure then penalty rate will also be reduced to the extent of applicable interest rate.

  • In the event of premature withdrawal of the Deposit, the Bank shall recover penalty from the Depositor for all amounts equal to the total losses or costs incurred by the Bank (including, without limitation, any loss or cost incurred as a result of the Bank terminating, liquidating, obtaining or re-establishing any hedge or related position in connection with this Deposit) that are or would be incurred under then prevailing circumstances. The Bank shall be entitled to set-off such losses and costs incurred by the Bank against the Deposit and interest payable thereon. It is hereby clarified that such recovery and set-off by the Bank may not fully safeguard the principal amount of the Deposit.


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Speaking Up

Standard Chartered Bank (the “Bank”) is committed to maintaining a culture of the highest ethics and integrity, and in compliance with all applicable law, regulation and internal policy. As part of this commitment, the Bank has a ‘Speaking Up’ programme through which genuine concerns in this regard can be raised. Members of the public can securely raise Speaking Up concerns through this hyperlink, which is hosted on behalf of the Bank by a third party ‘InTouch’. Examples of concerns that can be raised through this website are concerns that relate to accounting, internal accounting controls or auditing matters and concerns relating to bribery or banking and financial crime. Concerns received will be forwarded to the Bank’s investigations team for review. Complaints relating to SCB banking services should not be raised through this site in the first instance, but through the SCB branch network, contact centres, Relationship Managers or the ‘Contact Us’ webpage.

Disclaimer

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