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Anishka Bhadly
Anishka Bhadly is a content writer with a finance and business background. She has completed her bachelor's degree with a specialisation in finance and is currently pursuing an MBA in the finance field too. The knowledge she has gained from her studies and experience working with EdTech companies helped her combine theoretical knowledge with practical industry insight. Her expertise lies in creating well-researched, informative, and reader-friendly content in various banking, personal finance, loans, insurance, and investment-related topics.
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Standard Chartered Bank savings account rates are dependent on the type of account and a customer’s category. The range of domestic savings deposits applies to the residents of India, while non-resident Indians’ accounts (NRE and NRO) have distinct limits. The given rates set the margins of income in accordance with the balance kept in the account. Standard Chartered calculates the rate of interest on saving accounts based on a specific customer’s category and account conditions. In addition, it should be noted that savings rates are subject to change, and it is reasonable to learn the current rate before making a deposit.
The table below shows the interest rates for Standard Chartered Bank’s savings accounts. The rates below have been expressed as a percentage of the annual percentage rate for balances maintained at different levels and will be operative from 1st January 2026.
Standard Chartered Bank provides tiered saving schemes with varying interest rates, with the rates depending on the balance maintained by the account holder. The interest is calculated on a daily basis and paid out on a quarterly basis. As such, it is important that customers check the balance thresholds to identify which level their balance falls into and the interest rate applicable to it.
If you have an RFC Savings Bank Deposit at the Standard Chartered Bank, the interest rate you receive depends on the currency in which you open your account. The rates below, effective from 8 March 2022, explain how much money you can earn for keeping your deposits with the bank in different currencies.
According to the information provided, USD deposits have the best interest rate of 0.10%. In contrast, deposits in AUD, EUR, GBP, and JPY will bring you 0.01% profit per annum. Thus, it is essential to pay attention to the currency when you open an RFC Savings Bank Deposit at Standard Chartered Bank.
The table below indicates Standard Chartered Bank’s FCNR (B) carded rate for deposits of USD in the period of 36 months, considering the various amounts of money and their different percentages of interest rates.
There are certain terms and conditions attached with the FCNR (B) carded rates in the Standard Chartered Bank:
Banks and post offices have to consider the relevant provisions while opening and closing a Foreign Currency Non-Resident (FCNR)(B) deposit, as it helps depositors in taking better decisions and not facing any disadvantages while dealing with deposits.
Standard Chartered Bank savings rates have to be compared according to the account type, balance requirement, and eligibility rather than rely only on the interest rate. It is better to open a domestic account if the customer resides in the country, whereas the NRE or NRO account is suitable for NRIs. Moreover, before opening an account, it is essential to compare the rates, requirements, and charges to understand which bank account is the most beneficial in individual cases.
The Standard Chartered Bank savings rate is determined by the amount of money stored in the account. Their chart displays rates from 2.25% to 5% per annum.
The Standard Chartered Bank calculates the interest on a daily basis and pays it out at quarterly intervals.
The bank pays 0.01% for the RFC savings bank deposits on the currencies like the Australian dollar, euro, British pound, and Japanese yen. The bank also pays 0.10% per annum for the deposits in US dollars.
The word ‘Mio’ is used to represent a million. This is, therefore, to say that USD 1 Mio relates to USD 1,000,000.
The bank charges 1.00% less interest on withdrawals of FCNR(B) deposits that are made between 1 and 5 years after opening. The bank may also charge any losses and costs accrued.
This is the percentage of interest Standard Chartered offers on the money saved in the bank. The rate may differ depending on the amount of the maintained balance in an account.
The minimum balance largely depends on the type of savings account. As for the accounts listed above, their monthly average balance requirement is ₹25000.
Yes, Standard Chartered is a normal international bank that provides services of deposits, loans, cards, and various other banking services.
Both are good, but it is better to choose Standard Chartered because the interest rate is higher and more convenient conditions are provided.
Standard Chartered Bank Pvt. Ltd., commonly known as Standard Chartered.
