Standard Chartered Malaysia is proud to be the first and oldest bank in this country. It’s hard to believe that they’ve been around since 1875, when their first branch opened up at Beach Street Penang! Standard Chartered Bank offers a range of financial services to suit the needs and requirements of individuals, small businesses, and large enterprises. They provide retail banking products such as corporate and institutional loans alongside other essential services.
A fixed deposit (FD) is the best option for people who want to keep their money safe and earn some interest from it. The returns are higher than other saving accounts, and you are guaranteed by the government!
You should know the interest rates upon maturity to ensure you gain a great amount of return. Interest rates differ from bank to bank and tenure to tenure.
Different banks offer different tenures, ranging from 1 month to a few years. Choose the one that suits your needs and financial goals.
It is crucial to identify all costs incurred to avoid spending more than expected.
You should be informed of the penalty amount to know what to expect if you need to withdraw the money before maturity.
Being aware of the customer service and the reputation of the bank you are planning to apply your fixed deposit account is an important step! Do thorough research before deciding on a bank.
Standard Chartered Bank offers 1 type of fixed deposit, which is Term Deposit-i.
You are eligible to apply for Term Deposit-i if you are:
Among other reasons, you should choose Term Deposit-i because:
The documents needed to apply for Term Deposit-i are as follows:
Flexible tenures of 1, 3, 6, 9, 12, 15, 18 & 21 months and 2, 3, 4 & 5 years.
There is a chance you might only get half of the contracted interest as an early termination penalty. No interest will be paid to you if you close your account before an initial 3 months.
For more information or assistance with Term Deposit-i, please contact 1-300-88-8888 or visit the nearest Standard Chartered Bank branches.
It stands for per annum or each year.
The amount of return earned by depositors.
The amount of time the money is locked in a fixed deposit account.
The amount of money locked in a fixed deposit account to earn interest.
The additional charge from the bank for withdrawals before maturity (or premature withdrawal).
The end of a set time when an investment becomes due, and the principal and interest are repaid.
The money withdrawal in a fixed deposit account before maturity.
The withdrawal of part of the amount in a fixed deposit account before maturity.