Standard Chartered’s Term Deposits help you earn a higher rate of interest through our Short-Term Deposit, Reinvestment Deposit, Simple Fixed Deposit and Monthly Income Plans
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Details

With a wide variety of options to suit different needs, including Short Term Deposit, Reinvestment Deposit, Simple Fixed Deposit and Monthly Income Plan, they can be opened by individuals, proprietors, partnership and limited companies, societies, clubs, associations and HUFs.
In case you need to withdraw amounts in excess of what is available in your transaction account, we will break your deposit for the exact amount you require. The rest of the deposit continues earning the original high interest.

  • Tenor ranges from 7 days to 5 years.
  • Minimum amount to open an Online Term Deposit is 'INR 10,000/- and the same can be made in multiples of '1/-
  • Options of simple interest and compound interest
  • Auto renewal facility
  • Overdraft facility available against deposit

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 or above during the financial year.

Interest Rates

Click here to see the Interest Rates

Rupee Time Deposits held in domestic, Non-Resident Ordinary (NRO) Accounts:
Traditional Term Deposit:

For term deposit with tenor below 1 quarter (3 months) :

  • Interest is calculated on the basis of actual number of days considering the year as 365 days

For term deposit with a tenure greater than 1 quarter :

  • Interest for the quarter is calculated considering each quarter as 90 days and year as 360 days (90 days x 4 quarters)
  • Interest for the last quarter is calculated on the basis of actual number of days considering the year as 365 days
Reinvestment Term Deposit
  • Interest for each completed quarter is calculated considering each quarter as 90 days and year as 360 days (90 days x 4 quarters).
  • Interest for the last quarter is calculated on the basis of actual number of days considering the year as 365 days.
  • Interest for each quarter is compounded.

This methodology is applicable for all resident and NRO deposits opened after 24 February 2009.

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