The Standard Chartered Singapore Dollar Time Deposit scheme enables you to earn up to 1.35 for your deposits in Singapore dollars. There are flexible tenure options that suit your requirement. Once your account is matured, it gets renewed automatically.
What Are the Benefits of Holding This Account?
- Earn up to 1.35 on your deposit in Singapore dollars.
- Your account will be automatically renewed when the account reaches maturity.
- You can view a consolidated statement of your account.
- Enjoy phone banking and online banking facility anywhere any time.
- You can get the overdraft facility which is up to 100% of your account.
What Interest Rates Are Offered
Here is what you earn if you park your money in this time deposit account:
|Placement amount||Tenure in months and interest rates in % p.a.|
|Less than S$20,000||0.05||0.1||0.2||0.3||0.35||0.5||0.5||0.55||0.72||0.9||1.15|
|S$20,000 to S$49,999||0.05||0.1||0.2||0.3||0.35||0.5||0.5||0.55||0.72||0.9||1.15|
|S$50,000 to S$99,999||0.05||0.1||0.2||0.3||0.35||0.5||0.5||0.55||0.72||0.9||1.15|
|S$100,000 to S$499,999||0.05||0.1||0.2||0.3||0.35||0.5||0.5||0.55||0.72||0.9||1.15|
|S$500,000 and above||0.05||0.1||0.2||0.3||0.35||0.5||0.5||0.55||0.72||0.9||1.15|
*All rates are as updated on 17 July 2018.
You also get promotional rates of interest for a limited period from time to time.
Who Is Eligible to Open This Account?
The eligibility criteria to open this account are:
- You must be a Singapore Permanent Resident or a Singapore Citizen or a Foreigner.
- You must place a minimum amount of S$5,000.
- The minimum age requirement is 18 years.
- You must have an existing or open a new Standard Chartered Savings/Cheque/ Current Account.
What Documents You Would Need
Singaporeans and PRs can submit NRIC and a valid income proof. The mandatory documents for foreigners are:
- Employment Pass
- Anyone of the following:
- Last 3 months’ utility bill
- Last 3 months’ telecommunication bill
- Tenancy agreement
- Last 3 months’ bank statement
- A letter from your current employer’s human resources department stating your address
- Address proof documents issued by the government such as CPF, IRAS, ICA, etc.
How to Apply For the Standard Chartered Singapore Dollar Fixed Deposit
In order to apply for this account, you must visit the official webpage of Standard Chartered Singapore Dollar Time Deposit account on the bank’s website and click on ‘Get in Touch’. You will be directed to a page where you must fill your personal details and submit it. Thereafter, the bank will contact you for opening the account.
The deposits in this account are covered by the Singapore Deposit Insurance Corporation for up to S$50,000 placed in a single bank.