Standard Chartered Bank was established in the year 1858, and since then it has opened about 99 branches in over 42 cities. Standard Chartered Bank deals with all forms of financial operations like investment banking, corporate banking, wealth management, retail banking and more. Among these, the bank also offers the customers with a lucrative fixed deposit scheme with attractive returns.
For the tenure ranging between 365-390 days, the interest rate is 8.1% per annum, and it becomes 7.25% per annum for the tenure ranging between 390 days and 18 months.
There are no particular rates prevailed for the senior citizens. The rates are same for every individual of the country.
People looking for good returns, the bank’s short-term fixed deposit scheme is extremely good. For the individuals who do not want to keep their money locked for a certain interval, this short-term investment option is the one they should choose.
For the holding period of 7-14 days, the lowest interest rate offered by the bank is 4.25% per annum.
It is increased by 0.50% to 4.75% per annum for the holding period of 15-29 days. Moreover, for the tenure of 30-44 days, the rate of interest is calculated at 5.25% per annum.
6% per annum is the interest rate for the holding period of 45-59 days, which generally attractive when compared to other financial institution’s rates of the same period.
It is enhanced to 7.25% per annum for the deposit period of 60-89 days, and furthermore, 7.75% per annum is the interest rate offered by Standard Chartered Bank for the tenure of three to four months, which is highly appreciable when compared to other financial institutions.
An attractive 8% per annum interest is offered by the bank for the holding period ranging between four to six months. On the other hand, the tenures more than six months can avail the interest rate at 8.1% per annum.
The interest rate offered by the bank for 2-5 years locking period is 7.25% per annum which is similar to that of other banks.