• Standard Chartered Foreign Currency Fixed Deposits

    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
    Euro (EUR) 5000
    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)
    • Foreigners
    • 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 –

    • Passport
    • Employment Pass
    • ANY ONE of the documents below –
      1. Utility Bill for the latest 3 months
      2. Bank statement for the latest 3 months
      3. A letter from the current employer’s Human Resource Department that contains the address
      4. Any Government Issued documents that contain the address, such as IRAS, ICA, CPF etc.
      5. Telecommunications bill
      6. Tenancy agreement
    • The following Income Proof Documents must be provided –
      1. For Salaried Employees –
      2. The latest or the previous month’s payslip (must be computerized) from the current employer. Note – handwritten payslips cannot be accepted.

        OR

        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 0.1793 0.4860 0.8307
    25,000 TO 49,999 0.0200 0.0500 0.0700 0.0700 0.1793 0.4860 0.8307
    50,000 TO 99,999 0.0200 0.0500 0.0700 0.0700 0.1793 0.4860 0.8307
    100,000 TO 249,999 0.1300 0.1300 0.1928 0.2603 0.3793 0.6860 1.0307
    250,000 TO 499,999 0.2300 0.2300 0.2928 0.3603 0.4793 0.7860 1.1307
    500,000 AND ABOVE 0.2800 0.2800 0.3428 0.4103 0.5293 0.8360 1.1807

    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 0.0000 0.2000 0.3500 0.6000 0.9500
    25,000 TO 49,999 0.0000 0.0000 0.0000 0.2000 0.3500 0.6000 0.9500
    50,000 TO 99,999 0.0000 0.0000 0.2000 0.4000 0.5500 0.8000 1.1500
    100,000 TO 249,999 0.0000 0.0000 0.3000 0.5000 0.6500 0.9000 1.2500
    250,000 TO 499,999 0.0000 0.0000 0.5000 0.7000 0.8500 1.1000 1.4500
    500,000 AND ABOVE 0.0000 0.0000 0.7000 0.9000 1.0500 1.3000 1.6500

    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 0.3500 0.5500 0.7500 0.9000 1.2500
    25,000 TO 49,999 0.0000 0.0000 0.3500 0.5500 0.7500 0.9000 1.2500
    50,000 TO 99,999 0.0000 0.0000 0.4500 0.6500 0.8500 1.0000 1.4500
    100,000 TO 249,999 0.0000 0.0000 0.5500 0.7500 0.9500 1.1000 1.5500
    250,000 TO 499,999 0.0000 0.1500 0.7500 0.9500 1.1500 1.3000 1.7500
    500,000 AND ABOVE 0.1500 0.3500 0.9500 1.1500 1.3500 1.5000 1.9500

    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
    5,000 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 0.0750 0.1000 0.3500
    50,000 TO 99,999 0.0000 0.0000 0.0000 0.0000 0.1000 0.1000 0.3500
    100,000 TO 249,999 0.0000 0.0000 0.0000 0.0250 0.1250 0.1500 0.4000
    250,000 TO 499,999 0.0000 0.0000 0.0000 0.0500 0.1500 0.2000 0.4500
    500,000 AND ABOVE 0.0000 0.0000 0.0000 0.0750 0.1750 0.2500 0.5000

    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 0.0000 0.0000 0.0000 0.0000 0.2875
    50,000 TO 99,999 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.4125
    100,000 TO 249,999 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.5375
    250,000 TO 499,999 0.0000 0.0000 0.0000 0.0000 0.0000 0.0750 0.6625
    500,000 AND ABOVE 0.0000 0.0000 0.0000 0.0000 0.0170 0.1875 0.7250

    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 1.6500 1.9000 2.2500 2.8000 3.4000
    50,000  TO  99,999 0.0000 0.0000 1.7000 1.9500 2.3000 2.8500 3.4500
    100,000 TO 249,999 0.0000 0.0000 1.7500 2.0000 2.3500 2.9000 3.5000
    250,000 TO 499,999 0.0000 0.0000 1.8000 2.0500 2.4000 2.9500 3.5500
    500,000 AND ABOVE 0.0000 0.0000 2.3500 2.5500 2.9000 3.3000 3.8000

    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

    1. What deposit tenures are provided for the Standard Chartered Foreign Currency Fixed Deposit?
    2. 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.

    3. Does Standard Chartered provide an overdraft facility on the Foreign Currency Fixed Deposit?
    4. Yes. You can avail an overdraft facility of TO 90% of your deposit amount for your Foreign Currency Fixed Deposit account.

    5. What currencies are accepted for the Standard Chartered Foreign Currency Fixed Deposit?
    6. 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).

    7. Is there an age requirement to apply for the Standard Chartered Foreign Currency Fixed Deposit?
    8. 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.

    9. How do I apply for the Standard Chartered Foreign Currency Fixed Deposit?
    10. 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.

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