Standard Chartered Bank

Standard Chartered Bank

Standard Chartered Bank is known as one of India's leading international banks. The main aim of the bank is to serve their customers and clients to the fullest extent and as per global standards. They make use of their global competencies and knowledge gained from global locations to offer a variety of products and services as per the needs of their customers and business clients no matter where they are located. Standard Chartered Bank offers a wide range of products and services to ensure that they fulfill the unique needs of all their customers.

Credit Card Types

Standard Chartered Bank offers a wide range of credit cards to their customers as per their lifestyle and expenditure requirements. Following are the different types of credit cards offered by the bank:


1. Landmark Rewards Platinum Credit Card
 

The Inner Circle Platinum Credit Card has now been renamed as the Landmark Rewards Platinum Credit Card. This credit card offers the card holder up to 9X Reward Points at Landmark associated stores such as Lifestyle, Max and Home Centre as well as 2X Rewards Points on expenditures in other categories.
 

  • Features
  1. Offers additional 5% cash back at Lifestyle and Home Centre at the time of sale and 5% cash back at SPAR stores.
  2. Provides discount vouchers worth Rs. 2700.
  3. Access to Complimentary Lounge at selected domestic airports.
  • Benefits
  1. It is globally accepted.
  2. It provides the benefit of issuing a supplementary card for your loved ones.
  3. It provides the facility to transfer an outstanding balance from any credit card to Inner Circle Platinum Credit cards at reasonable interest rates.
  4. It also provides the benefit of revolving credit wherein you just have to pay 5% of the outstanding amount every month.
  5. Provides access to cash 24x7 subject to the bank’s credit limit.
  6. This card can be utilized to purchase railway or airline tickets online or at their respective counters.
  7. Purchase of big-ticket items using your credit card provides the facility of making payments in installments at reasonable interest rates.

2. Super Value Titanium Credit Card

 
Super Value Titanium Credit card provides the benefit of saving and cashback on fuel and telephone bills.
 

  • Features
  1. Offers 5% cash back on the purchase of fuel from any petrol pump in India.
  2. Earn 5% cashback on payment of telephone bills.
  3. Provides 5% cashback on payment of electricity, water and gas bills.
  4. It also provides 1 reward point for the expense of Rs. 100 on any other categories except fuel, utilities, and telephone bills.
3. Platinum Rewards Credit Card
 
  • Features
  1. This credit card offers 5X reward points at fine- dining outlets and more, in India and Overseas.
  2. You can earn 5X reward points on the purchase of fuel all over India.
  3. You can also earn 1 reward point on the expense of Rs. 150 on any other categories.
  4. No need to pay any joining fee or any annual fee if applied online.
4. Manhattan Platinum Card
 

This credit card provides you with benefits such as and rewards whenever you shop.
 

  • Features
  1. It provides 5% cash back facility for shopping at supermarkets and department stores by using this card.
  2. Offers 5X reward points on purchase made from anywhere except supermarket and department stores.
  3. It provides easy payment options through Billdesk, NEFT, VISA Money transfer, Net Banking and ECS.

5. Yatra Platinum Credit Card
 

This credit card offers on travel and provides reward points on other expenditures.
 

  • Features
  1. Provides 10% cashback on bookings made from Yatra.com
  2. You can earn 4X reward points on purchase from Yatra.com and 2X reward points on any other purchases except fuel.
  3. It also waives 2.5% of surcharge on fuel.

6. Emirates World Credit Card
 

  • Features
  1. You can earn Skywards Miles on all your expenses and avail bonus miles by paying an annual fee.
  2. Get complimentary access to domestic lounges.
  3. Offers 5% cash back on purchase from duty-free outlets.
  4. Provides travel insurance of up to Rs. 1 crore inclusive of insurance on the loss of baggage and/or delay of your flight.

7. Priority Banking Visa Infinite Credit Card

 
This type of credit card is offered to Standard Chartered Bank’s Priority customers. It provides personalized services and exclusive privileges all rolled into a single card.
 

  • Features
  1. Offers attractive rewards on your expenses.
  2. Provides access to complimentary airport lounges in India and overseas.
  3. Provides golfing privileges
  4. Provides complimentary travel and medical insurance of up to USD 200,000 whenever you travel overseas.
  5. Provides exclusive offers on the bookmyshow website

Saving Accounts

Standard Chartered Bank offers different types of savings account, customized as per your needs and requirements. In order to keep a record of your account, they provide you an updated account statements and passbook. They also provide an interest on your savings account at 4% p.a. as per your daily balance and the interest amount is credited to your account at the end of every quarter.
 
Following are the various types of Savings Accounts offered by Standard Chartered Bank:

1. 2-in-1 Savings Account


This is a special type of savings account, wherein you can earn a high rate of interest as well as avail the flexibility of a current account or a savings account.
 

  • Features
  1. Offers discount of about 25% to all their customers on maintaining an average quarterly balance of Rs. 50,000.
  2. Provides high break value of about 95% on all linked term deposits.
  3. Provides a locker charge discount.
  4. Minimum amount to invest in an Online Term Deposit is Rs. 10,000.
  5. It also provides you double advantage wherein your 2-in-1 savings account is by default linked with your Term deposit. In this way, say you have issued a cheque and there is a shortage in your savings account, the equivalent amount of fund will automatically sweep from your Linked Term Deposit.  Hence, you can avail the benefit of both liquidity as well as higher returns.

2. 3-in-1 Account
 

This type of Savings Account is linked with Demat and broking services offered from Standard Chartered Securities. Hence, all these 3 accounts can be opened through a single account form.
 

  • Features
  1. Provide you all aXcessPlus features in addition to waiving off
  • Platinum or Shop Smart Debit Card fee for the first year, and
  • 25% of Locker charges.
  1. Requires minimum monthly average balance of ₹5,000 in your linked savings account
  2. Requires minimum monthly average balance of ₹25,000 in your Enhanced Savings Account.
  3. Customers having Enhanced Savings account can avail the benefit of 3-in-1 Plus Program and enhanced broking rates.

3. Basic Banking Account
 

Standard Chartered Bank offers a simple and Basic Banking account which includes no add-ons, low maintenance fees and easy in fulfilling all your banking needs and requirements.
 

  • Features
  1. Maintenance of minimum balance for Basic Banking Account is not required.
  2. Offers unlimited access to any Standard Chartered branch in India for free.
  3. Offers unlimited access to Standard Chartered ATM’s in India without charging any fee.
  4. Provides free unlimited financial and non-financial transactions per month at another bank ATM’s all over India.
  5. Provides additional features like International Debit Card, Phone Banking, Online Banking, extended banking hours, Locker Facility and Doorstep banking.

4. Aasaan Account
 

This type of savings account is much simpler and basic as compared to Basic Banking Account.
 

  • Features
  1. Maintenance of minimum balance for Aasaan Account is not required.
  2. Offers unlimited access to any Standard Chartered branch in India for free.
  3. Offers unlimited access to Standard Chartered ATM’s in India without charging any fee.
  4. Provides 5 free financial and non-financial transaction per month at another bank ATM’s all over India.
  5. Provides additional features like International Debit Card, Phone Banking, Online Banking, Extended banking hours, Locker Facility and Doorstep banking.
5. aXcessPlus Account
 

The aXcessplus account is known as a revolutionary savings account. It provides easy aXcess to cash at around 20,000 ATM’s all over India and around 1 million VISA ATMs across the world.
 

  • Features
  1. Provides free access to ATM’s for withdrawing cash at any VISA ATM across India.
  2. Provides access to any branch of Standard Chartered bank for free in India.
  3. Offers Doorstep Banking.
  4. Offers up to 2 free Demand Drafts or Pay orders per month, drawn at the Standard Chartered branches.
  5. The account provides the following additional features:
  • International Debit Card
  • Phone Banking
  • Online Banking
  • Extended banking hours
  • Free multi-city cheques if required minimum average quarterly balance of account is maintained.

6. Employee Banking Account

 
Standard Chartered Bank provides employee banking account holders with best in class banking facilities and a range of world class features.
 

  • Features
  1. Provides you a Relationship Manager who helps you manage your finances with ease.
  2. Provides you a service manager who can resolve various service-related issues.
  3. Offers special privileges on credit cards, loans, and other banking products as well as services.
  4. Provides free issue of demand drafts and pay orders which are payable at Standard Chartered banks across India.

7. eSaver Plus Account
 

  • Features
  1. Creates term deposits automatically as and when your balance has reached above a specified amount.
  2. Provides you the flexibility of choosing a fixed tenure from between 9 days to 1 year.
  3. Provides you the facility of automatic renewal of the term deposit.
  4. Additional features include:
  • Sweep-in and sweep-out facility for accounts linked with term deposits
  • Offers 5% cash back on Platinum Debit Card
  • Phone Banking
  • Online Banking
  • Extended banking hours
8. Parivaar Account
 

Standard Chartered Bank provides you with a comprehensive wealth management solution through the Standard Chartered Parivaar Account. This type of saving account affords you the flexible and convenient of a family savings account that can help you accumulate and preserve your wealth for future needs of the .
 

  • Features
  1. Provides your family the benefit of operating an individual saving account with a lump-sum balance option held in one group account.
  2. You can conveniently access your account from anywhere and at any time through ATM, phone banking, and online banking.
  3. You can avail a range of global benefits with your free ATM/ debit card at over 326,000 merchant outlets across India and at over 14 million outlets worldwide.

9. Super Value Account
 

Super Value Savings Account provides a wide of features for free with the requirement of maintaining a minimum monthly average balance of Rs. 50,000.
 

  • Features
  1. You can avail global benefits through your free ATM cum debit card.
  2. Also get convenient access by withdrawing funds from VISA ATMs across India without any additional charges.
  3. Receive free services like chequebooks, account statements and direct debits.
  4. You can easily transfer funds to other bank accounts at no additional charge.

Fixed Deposits offered by Standard Chartered Bank

Standard Chartered Bank provides investors the opportunity of earning a fixed income on their savings by investing their money in a Standard Chartered Bank Fixed Deposit account. It offers attractive returns and provides a stable income to the bank’s customers. It also provides flexibility of holding periods which helps depositors to invest their savings according to their liquidity needs and financial requirements.
 

  • Eligibility

Fixed Deposit account can be opened by any individual who works for a private limited company or government body, proprietorships, partnerships, organizations, clubs, societies or belongd to a HUF.
 

  • Minimum Amount required to open an FD account

The minimum amount required to open a Fixed Deposit account at a branch is Rs. 50,000. For Online Term Deposit, the minimum amount is Rs. 10,000.
 

  • Maximum amount deposited in an FD account

An individual can deposit up to a maximum amount of Rs. 7.5 crore in an FD account subject to regulatory approvals.
 

  • Procedure to open a Fixed Deposit Account

There are two ways by which one can open a FD account - the online mode and the offline mode. Applicants will have to fill out a form with some basic information and complete necessary formalities on the bank’s website in order to open a Fixed Deposit account online. Also, applicants can either contact the Bank via telephone or visit a branch personally to open an FD account.
 

  • Standard FD accounts

Tax is deducted from the interest income (TDS) at the applicable slab rate if PAN number is provided by the account holder and interest income exceeds Rs. 10,000 annually. In case PAN number is not provided, then tax will be deducted at higher rates from the interest income exceeding Rs.10,000.
 

  • Loans provided against Fixed Deposit

Standard Chartered Bank provides the facility of taking a loan against the Fixed Deposit and subsequently pay it off in installments. An individual can borrow up to 85% of the maturity value as a loan using the domestic term deposit as security.
 

  • Issue Credit Card against Fixed Deposits held at Standard Chartered Bank

In case a person does not have a salary account with Standard Chartered Bank, they can apply for credit cards if they have an FD account with Standard Chartered Bank. The credit limit offered will be up to 90% of the Fixed Deposit account balance.
 

  • Allowance of Premature withdrawals

Standard Chartered Bank allows premature withdrawals for domestic deposit. In such cases, the interest will be paid at the applicable rate only up to the time the fixed deposit was held with the bank. Also, you will have to bear the penalty which will be paid at a discounted rate of interest i.e. 1% less than the original rate of interest.

Home Loans

Standard Chartered Home Loans provides individuals with the option to buy your dream home at a reasonable rate of interest along with world class service.


Features
 

  • Offers home loans with a variable and semi-fixed rate of interest on payment of one-time processing fee.
  • Provides home loans for ready or under construction flats or houses and also for renovation and extension of the house.
  • Helps in refinancing your housing loan, i.e., transferring your existing high-interest loan to Standard Chartered Home loan at a lower interest rate. This helps customers save on interest earned.
  • According to Section 24(b) of the Income Tax Act, 1961, a deduction of up to Rs. 200,000 is allowed on the total interest payable on a home loan if it is taken for the purchase or construction of a house. The interest amount paid during pre-construction period will be deductible in five annual installments from the date when the house had been acquired or constructed.
  • For Self occupied property, the deduction is allowed for that property only.
  • According to Section 80C of Income Tax Act, 1961, repayment of the Principal amount of up to Rs. 150,000 will be deducted from the gross total income of the individual.
  • Provides the facility of a Top-Up loan on the existing home loan in case the individual is in need of additional funds.

NRI Banking

Standard Chartered Bank provides the facility of NRI banking i.e. opening an account that allows access to the bank’s global network. One can get access to accounts anytime via the Standard Chartered Global Link and also receive their Priority Banking Status anywhere in the world. The following are two ways using which an individual can transfer money to India -
 

  • Global Link: This allows an individual to transfer funds in different currencies for accounts held worldwide.
  • Global Wire Transfer: This provides the facility to transfer funds to your loved ones across India.
 

Online Banking

Standard Chartered Bank provides the facility of online banking through which you can avail banking services from anywhere in the world easily and in a secure manner.


There are various features offered by Standard Chartered Bank for online banking:
 

  • Information regarding their accounts

Online banking provides access to get updated information on your accounts and term deposits. It provides you with the facility to print your account statement and check the status of cheques issued by you. Hence, it saves a lot of time and energy as there is no standing in queues to avail banking services.
 

  • Provide facility of transferring funds

With the help of Online Banking, funds can be transferred easily and conveniently. You can transfer funds to accounts held within same bank or other banks. Furthermore, it provides the facility of NEFT and RTGS. Also, you can transfer funds to your VISA Credit cards and make a request to issue a Demand Draft.
 

  • Avail Credit Card Services

Through Online banking, you can make an online application for issue of a new credit card, pay off your dues and scrutinize the details of your credit card transactions. Also, you have the option of redeeming your reward points online. Furthermore, you can pay off your credit card expenses in installments by using Kuch Bhi on EMI option through Online Banking.
 

  • Registration for E-statements

You can register yourself for obtaining e-statements online on the bank’s website. This helps you get access to your statements from anywhere and at any time through online Banking.
 

  • Regularly update your Personal Information

It is necessary to update your personal information on a regular basis. Any change in information is authenticated with the transaction and one-time password which is sent to your registered mobile number.
 

  • Request for Cheque book online

If you are registered for Online Banking, you can send a request for your chequebook.
 

  • Open Fixed Deposits

Standard Chartered Bank provides the facility to open a Fixed Deposit account through Online Banking.
 

  • Provides Auto pay and Standing Instruction facility

For example, if you have started a recurring deposit of Rs. 5000 per month, you can set standing instruction online to transfer this amount monthly from your account to recurring deposit account. Also, you use the auto pay facility wherein your utility bills are paid automatically.
 

  • Managing transaction and beneficiary limit

Online Banking provides a facility in managing your daily transaction limit. Also, you can keep a check on the daily limit on a beneficial addition for each transfer.
 

  • Pay Tax Online

Another service provided by Standard Chartered Online Banking is to pay all your taxes online. In this way, people save a lot of time and energy as they need not stand in queues for making the payment.
 

  • Apply online for Home/Personal Loan

Furthermore, you can avail the facility to make an online application for Home/Personal Loan. Hence, you need not have to waste your time by going to the Bank and complete all the formalities to get Home/Personal loans sanctioned.
 

  • Personal Mailbox

Online Banking provides you the facility of a personal mailbox using which you can send and receive emails from the bank’s customer service department.
 

  • Digital Signature Certificate

Digital Signature Certificate is mainly used for conducting the online transaction in a safe and secure manner. It authenticates your identity electronically. You can exchange information privately with the help of this Digital Signature Certificate.

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