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How to Open Standard Chartered Bank Fixed Deposit Account

Updated 30 Aug 2023

Taking a step towards secure investments means considering a Fixed Deposit (FD) with renowned banks like Standard Chartered. With its global reputation and commendable financial services, Standard Chartered Bank (SCB) has become a go-to for many seeking safe and profitable savings.

 

Opening an FD account with SCB provides you with competitive interest rates and a seamless banking experience backed by top-notch customer service. In this blog, we will walk you through the systematic process of opening an FD account with Standard Chartered, ensuring that your journey towards financial stability is both straightforward and rewarding.

How To Open A FD Account with Standard Chartered?

Fixed deposit accounts can be opened in both online and offline methods: 

Online Method:
Step 1: Log in to Online Banking
Step 2: Select “Open Term Deposit” from the left-hand side menu
Step 3: Follow the online instructions and apply for a term deposit.

Offline Method:
Step 1: Visit the bank branch.
Step 2: Take the FD application form. 
Step 3: Fill in the required details and submit the necessary documents. 
Step 4: Submit the form to the branch.

Eligibility Criteria to Open a Fixed Deposit with Standard Chartered

The following are eligible to invest in Standard Chartered Bank fixed deposits:

  • Individuals
  • Proprietors
  • Partnership
  • Limited Companies
  • Societies
  • Clubs
  • Associations and
  • HUFs

Documents Required to Open a Standard Chartered Fixed Deposit

The following documents are required to invest in Standard Chartered Bank fixed deposits:
Documents accepted as ID and Address Proof

  • Passport
  • Driving licence
  • Aadhaar card
  • Voter’s Identity Card issued by the Election Commission of India
  • Job card issued by NREGA duly signed by an officer of the State Government
  • Letter issued by the National Population Register containing details of name and address

FAQs

What are Standard Chartered FD rates?

Standard Chartered Bank fixed deposit interest rates range between 2.75-7.5% per annum.

How can depositors check their FD status?

Depositors can check their deposit status online using the Standard Chartered Mobile application.

Is the ₹5 lakhs DICGC insurance cover applicable on Standard Chartered Bank FD?

Yes. ₹5 lakhs Deposit Insurance and Credit Guarantee Corporation (DICGC) insurance cover is applicable on Standard Chartered Bank FD

Can a depositor change the tenure of FD once created?

Once invested, one cannot change the tenure of Standard Chartered Bank FD investment

What is the case of termination of FD in case of death?

In the event of the depositor's death, premature termination of term deposits will be allowed, subject to the completion of documentary formalities as required. Such premature withdrawal would not attract any penal charges.

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