Standard Chartered Bank RD Interest Rate

What is Standard Chartered Bank RD?

Standard Chartered Bank recurring deposit scheme enables account holders to save a fixed monthly instalment over a chosen tenure. Depending on the RD interest rates set by the bank, customers earn interest on their monthly deposits. Each monthly instalment will earn interest from the date of the instalment until maturity.

Interests are compounded quarterly and paid at maturity. To open an RD account at Standard Chartered Bank, the minimum monthly instalment is ₹1000, and the maximum instalment amount is ₹1,00,000. Subsequent payments can be made in multiples of ₹100.

You can also check Standard Chartered Bank FD rates and compare RDs and FDs before making an investment decision.

Standard Chartered Bank RD Interest Rates

The following table provides the updated Standard Chartered Bank RD rates applicable across various tenures.

*Standard Chartered Bank RD Interest Rates w.e.f. July 5, 2025

Key Features of Standard Chartered Bank RD

Standard Chartered Bank recurring deposit has several features that will help in saving regularly every month. Key features include:

• Standing Instruction Facility: Instalments for Standard Chartered Bank RD should be made through standing instructions only. This allows you to automatically pay the monthly payment from the linked account, helping you pay on time.
• Additional Interest for Senior Citizens: Senior citizens get an additional 0.50% interest rate compared to general citizens.
• Premature Withdrawal Facility: Standard Chartered Bank RD premature withdrawal facility enables account holders to access their recurring deposit before it reaches maturity. In such instances, a penal interest of 1% is charged. No interest is paid in case of premature withdrawal before 3 months for residents, and 1 year for non-residents (Non Resident External).
• Missed Instalment: Instalments are done between the 1st and 28th of every month. If you fail to pay between the agreed-upon dates, it will count as a missed payment. If there are three missed payments during the chosen tenure, the bank can close the RD account.
• Nomination Facility: Account holders can appoint a nominee who can claim the interest and earnings of the deposit.
• Digital Access & RD Calculator: Customers can maintain RD accounts online and calculate the value of maturity and plan savings with the help of the RD calculator.

How to Open a Standard Chartered Bank RD

A Standard Chartered Bank RD can be opened online or at any bank branch. The process is simple and needs only basic account details.

Online Method

You can access an RD at any convenient time using the internet or the Standard Chartered Bank mobile banking app, using the following steps:

• Log In: Log in to Standard Chartered Bank's internet or mobile banking.
• Select RD Option: Click next to the deposits and select recurring deposit.
• Enter Details: Fill in the instalment amount and tenure.
• Link Account: Choose your Standard Chartered Bank savings account for auto-debit.
• Review & Submit: Verify details and confirm the request.
• Confirmation: Receive RD account creation confirmation.

Offline Method

You can easily open an RD account offline by following these steps:

• Branch Visits: Visit the closest bank branch.
• Fill Form: Fill in the RD application form.
• Submit Documents: Provide required KYC documents.
• Choose Details: Select the instalment amount and tenure.
• Deposit the initial instalment: Pay the first monthly instalment.
• Set Instructions: Provide standing instructions.
• Account Activation: The bank opens the RD account and issues confirmation details.

Eligibility Criteria for Standard Chartered Bank RD

Many types of customers open an RD account with Standard Chartered Bank. These are the criteria given by the bank to open an RD account:

• Individual Account: Any adult resident or non-resident Indian individual can open an RD account in their own name.
• Joint Account: Any two or more individuals can open a joint RD account. Every account holder has equal responsibility for paying the instalments and also shares the maturity benefit. If the primary account holder is a senior citizen, the senior citizen RD rate applies to the deposits.
• Documentation Requirement: To open a Standard Chartered Bank RD, documents verifying the customer's identity and documents verifying the address are needed, among others, as requested by the bank.
• Saving Account: All payments for a Standard Chartered Bank RD must be made from a savings account.

Key Takeaways

Standard Chartered Bank recurring deposits enable monthly savings of a fixed amount over a tenure between 12 months and 24 months. The scheme requires a minimum deposit of ₹1000 monthly, and further contributions in multiples of ₹100 can be made. Standard Chartered Bank RD interest rates range from 6.50% to 6.60% per annum for general citizens (both resident and non-resident) and 7.00% to 7.10% per annum for senior citizens, depending on the tenure.