With a rich history of over 150 years of existence, Standard Chartered in Singapore, today has over 86, 000 employees as a part of its international banking group. The bank earns 90% of its income from Asia, Africa and Middle East by driving investment, creation of wealth and trade across these regions. Standard Chartered has been in Singapore for 155 years with its first branch opened in the year 1859. It received Qualifying Full Bank (QFB) license in the year 1999 and became one of the first international banks to receive this license. Standard Chartered offers top quality financial solutions and banking products to both, corporate as well as institutional clients. Some of their service areas include cash management, securities services, trade finance, lending, foreign exchange, corporate finance and debt capital markets. The bank also has a private banking division that provides its customers private banking services. Standard Chartered in Singapore employs approximately 7000 employees and comprises of a network of 18 bank branches, 32 ATMs and 7 Priority Banking centers.
Overview of Standard Chartered Foreign Currency Fixed Deposit
Standard Chartered offers its Foreign Currency Fixed Deposit at competitive and attractive interest rate structures and a flexible tenure starting for 1 week and TO 1 year.
Standard Chartered accepts the following foreign Currencies for its Foreign Currency Fixed Deposit –
- United States Dollar (USD)
- Sterling Pound (GBP)
- Australian Dollar (AUD)
- Canadian Dollar (CAD)
- Euro (EUR)
- Hong Kong Dollar (HKD)
- New Zealand Dollar (NZD)
- Swiss Franc (CHF)
- Japanese Yen (JPY)
- Chinese Renminbi (Renminbi Offshore - CNH)
Standard Chartered Foreign Currency Fixed Deposit Features and Benefits
- Fixed Deposit Tenure – minimum of 1 week and TO a maximum of 12 months.
- Attractive interest rate structure offered for different foreign currencies
- Automatic renewal of the fixed deposit upon maturity available for the customer’s convenience
- Convenient Banking facilities provided that includes 24 hours Phone Banking and Online Banking
- The bank makes your account balancing easy by providing a consolidated statement
- The bank provides an overdraft facility of TO 90% of your deposit amount
- This fixed deposit is available in over 10 currencies as mentioned above
Initial Deposit amount for the Standard Chartered Foreign Currency Fixed Deposit
Please find below the initial deposit amounts for the accepted foreign currencies –
|Currency||Initial Deposit Amount|
|United States Dollar (USD)||5000|
|Sterling Pound (GBP)||5000|
|Australian Dollar (AUD)||5000|
|Canadian Dollar (CAD)||25, 000|
|Hong Kong Dollar (HKD)||25, 000|
|New Zealand Dollar (NZD)||5000|
|Swiss Franc (CHF)||25, 000|
|Japanese Yen (JPY)||3, 000, 000|
|Renminbi Offshore (CNH)||25, 000|
Note: A charge of USD 25 and any penalty charges are applicable as premature uplift handling fee.
Eligibility Criteria for the Standard Chartered Foreign Currency Fixed Deposit
The following are eligible to apply for the Standard Chartered Foreign Currency Fixed Deposit
- Singapore Citizens
- Singapore Permanent Residents (PRs)
- The applicant must be at least 18 years of age
Documentation Required for the Standard Chartered Foreign Currency Fixed Deposit
- Singapore Citizens and Singapore Permanent Residents (PRs) must carry a front and back copy of their NRIC
Foreigners must provide all the documents mentioned below mandatorily to be eligible for this Fixed Deposit –
- Employment Pass
- ANY ONE of the documents below –
- Utility Bill for the latest 3 months
- Bank statement for the latest 3 months
- A letter from the current employer’s Human Resource Department that contains the address
- Any Government Issued documents that contain the address, such as IRAS, ICA, CPF etc.
- Telecommunications bill
- Tenancy agreement
- For Salaried Employees –
The latest or the previous month’s payslip (must be computerized) from the current employer. Note – handwritten payslips cannot be accepted.
The latest Income Tax NOA (Notice of Assessment) – if you will be faxing this document to Standard Chartered, ensure that the document is faxed from the bottom end first.
Applying for the Standard Chartered Foreign Currency Fixed Deposit
- You can fill in the Contact Form available on the official Standard Chartered website and the bank will then contact you regarding the Foreign Currency Fixed Deposit
- You can contact the bank on their hotline number and request for further information on the Foreign Currency Fixed Deposit and also start the application process.
- You can visit your nearest Standard Chartered Bank Branch and apply for the loan directly.
Standard Chartered Foreign Currency Fixed Deposit Interest Rate Structure
Find below the interest rate structure for United States Dollar (USD) –
|United States Dollar - USD||1 Week||2 Weeks||1 Month||2 Months||3 Months||6 Months||12 Months|
|5,000 TO 24,999||0.0200||0.0500||0.0700||0.0700||0.0800||0.3827||0.7479|
|25,000 TO 49,999||0.0200||0.0500||0.0700||0.0700||0.0800||0.3827||0.7479|
|50,000 TO 99,999||0.0200||0.0500||0.0700||0.0700||0.0800||0.3827||0.7479|
|100,000 TO 249,999||0.0200||0.0500||0.0700||0.0700||0.2218||0.5827||0.9479|
|250,000 TO 499,999||0.0200||0.0500||0.0700||0.1344||0.3218||0.6827||1.0479|
|500,000 AND ABOVE||0.0300||0.0500||0.1172||0.1844||0.3718||0.7327||1.0979|
Find below the interest rate structure for Sterling Pound (GBP) –
|STERLING POUNDS - GBP||1 Week||2 Weeks||1 Month||2 Months||3 Months||6 Months||12 Months|
|5,000 TO 24,999||0.0500||0.0500||0.1000||0.1200||0.1500||0.2000||0.3000|
|25,000 T0 49,999||0.0500||0.0500||0.1000||0.1200||0.1500||0.2000||0.3000|
|50,000 TO 99,999||0.0500||0.0500||0.1000||0.1200||0.1500||0.2000||0.3000|
|100,000 TO 249,999||0.0500||0.0500||0.1000||0.1200||0.1500||0.2000||0.3000|
|250,000 TO 499,999||0.0500||0.0500||0.1000||0.1200||0.1500||0.2000||0.3000|
|500,000 AND ABOVE||0.0500||0.0500||0.1000||0.1200||0.1500||0.2000||0.3000|
Find below the interest rate structure for Australian Dollar (AUD) –
|AUSTRALIAN DOLLARS - AUD||1 Week||2 Weeks||1 Month||2 Months||3 Months||6 Months||12 Months|
|5,000 TO 24,999||0.0000||0.0000||0.1000||0.2000||0.4500||0.8000||1.1500|
|25,000 TO 49,999||0.0000||0.0000||0.1000||0.2000||0.4500||0.8000||1.1500|
|50,000 TO 99,999||0.0000||0.0000||0.3000||0.4000||0.6500||1.0000||1.3500|
|100,000 TO 249,999||0.0000||0.0000||0.4000||0.5000||0.7500||1.1000||1.4500|
|250,000 TO 499,999||0.0000||0.0000||0.6000||0.7000||0.9500||1.3000||1.6500|
|500,000 AND ABOVE||0.0000||0.0000||0.8000||0.9000||1.1500||1.5000||1.8500|
Find below the interest rate structure for New Zealand Dollar (NZD) –
|NEW ZEALAND DOLLARS - NZD||1 Week||2 Weeks||1 Month||2 Months||3 Months||6 Months||12 Months|
|5,000 TO 24,999||0.0000||0.0000||0.5000||0.6500||0.8000||1.1000||1.5000|
|25,000 TO 49,999||0.0000||0.0000||0.5000||0.6500||0.8000||1.1000||1.5000|
|50,000 TO 99,999||0.0000||0.0500||0.6000||0.7500||0.9000||1.2000||1.7000|
|100,000 TO 249,999||0.0500||0.1500||0.7000||0.8500||1.0000||1.3000||1.8000|
|250,000 TO 499,999||0.2500||0.3500||0.9000||1.0500||1.2000||1.5000||2.0000|
|500,000 AND ABOVE||0.4500||0.5500||1.1000||1.2500||1.4000||1.7000||2.2000|
Find below the interest rate structure for Euro (EUR) –
|EURO - EUR||1 Week||2 Weeks||1 Month||2 Months||3 Months||6 Months||12 Months|
|5,00000 TO 24,999||0.0000||0.0000||0.0000||0.0000||0.0000||0.0000||0.0000|
|25,000 TO 49,999||0.0000||0.0000||0.0000||0.0000||0.0000||0.0000||0.0000|
|50,000 TO 99,999||0.0000||0.0000||0.0000||0.0000||0.0000||0.0000||0.0000|
|100,000 TO 249,999||0.0000||0.0000||0.0000||0.0000||0.0000||0.0000||0.0000|
|250,000 TO 499,999||0.0000||0.0000||0.0000||0.0000||0.0000||0.0000||0.0000|
|500,000 AND ABOVE||0.0000||0.0000||0.0000||0.0000||0.0000||0.0000||0.0000|
Find below the interest rate structure for Canadian Dollar (CAD) -
|CANADIAN DOLLARS - CAD||1 Week||2 Weeks||1 Month||2 Months||3 Months||6 Months||12 Months|
|25,000 TO 49,999||0.0000||0.0000||0.0000||0.0000||0.0000||0.1000||0.4000|
|50,000 TO 99,999||0.0000||0.0000||0.0000||0.0000||0.0000||0.1000||0.4000|
|100,000 TO 249,999||0.0000||0.0000||0.0000||0.0000||0.0250||0.1500||0.4500|
|250,000 TO 499,999||0.0000||0.0000||0.0000||0.0000||0.0500||0.2000||0.5000|
|500,000 AND ABOVE||0.0000||0.0000||0.0000||0.0000||0.0750||0.2500||0.5500|
Find below the interest rate structure for Hong Kong Dollar (HKD) –
|HONG KONG DOLLARS - HKD||1 Week||2 Weeks||1 Month||2 Months||3 Months||6 Months||12 Months|
|25,000 TO 49,999||0.0000||0.0000||0.0800||0.0250||0.0650||0.0875||0.5875|
|50,000 TO 99,999||0.0000||0.0000||0.0800||0.0250||0.1750||0.2000||0.7125|
|100,000 TO 249,999||0.0000||0.0000||0.0800||0.0750||0.2750||0.3250||0.8375|
|250,000 TO 499,999||0.0000||0.0000||0.0800||0.1250||0.3000||0.4750||0.9625|
|500,000 AND ABOVE||0.0000||0.0000||0.0800||0.1750||0.4170||0.5875||1.0250|
Find below the interest rate structure for Chinese Renminbi (CNH) –
|CHINESE REMINBI - (CNH)||1 Week||2 Weeks||1 Month||2 Months||3 Months||6 Months||12 Months|
|25,000 TO 49,999||0.0000||0.0000||3.1500||4.1000||4.0500||4.3000||4.0500|
|50,000 TO 99,999||0.0000||0.0000||3.2000||4.1500||4.1000||4.3500||4.1000|
|100,000 TO 249,999||0.0000||0.0000||3.2500||4.2000||4.1500||4.4000||4.1500|
|250,000 TO 499,999||0.0000||0.0000||3.3000||4.2500||4.2000||4.4500||4.2000|
|500,000 AND ABOVE||0.0000||0.0000||3.8500||4.7500||4.7000||4.8000||4.4500|
Important Notes –
- The rates mentioned in the aforementioned tables have been updated as of November 30th, 2015. These rates are for reference purpose and are updated on a regular basis. The rates are subject to change without prior notice.
- These rates are for general information and do not constitute any offer, solicitation or recommendation to enter into any transaction. The bank will not be held accountable in case of any damage or loss incurred directly or indirectly for reliance on the provided information.
- Other Terms and Conditions apply.
Frequently Asked Questions
- What deposit tenures are provided for the Standard Chartered Foreign Currency Fixed Deposit?
- Does Standard Chartered provide an overdraft facility on the Foreign Currency Fixed Deposit?
- What currencies are accepted for the Standard Chartered Foreign Currency Fixed Deposit?
- Is there an age requirement to apply for the Standard Chartered Foreign Currency Fixed Deposit?
- How do I apply for the Standard Chartered Foreign Currency Fixed Deposit?
Standard Chartered offers flexible deposit tenures for the Foreign Currency Fixed Deposit that are as follows – 1 week, 2 weeks, 1 month, 2, 3, 6 and 12 months.
Yes. You can avail an overdraft facility of TO 90% of your deposit amount for your Foreign Currency Fixed Deposit account.
Standard Chartered accepts the following foreign currencies for the Foreign Currency Fixed Deposit - United States Dollar (USD), Sterling Pound (GBP), Australian Dollar (AUD), Canadian Dollar (CAD), Euro (EUR), Hong Kong Dollar (HKD), New Zealand Dollar (NZD), Swiss Franc (CHF), Japanese Yen (JPY) and Chinese Renminbi (Renminbi Offshore - CNH).
Yes. The applicant must be at least 18 years of age in order to be eligible to apply for the Standard Chartered Foreign Currency Fixed Deposit.
You can apply for the Standard Chartered Foreign Currency Fixed Deposit in 3 ways - You can visit the official Standard Chartered Singapore website and fill in the Contact Form with all the requested details. The bank will then get in touch with you regarding the same. OR You can call Standard Chartered on their hotline number provided for any further information and start the application process. OR you can visit your nearest Standard Chartered Bank Branch and apply for the Foreign Currency Fixed Deposit directly in person.