Standard Chartered Bank Fixed Deposit Account Opening – Standard Chartered Bank Fixed Deposit Account is one of the safest ways to invest your money with less interest rate risk and inflation risks. The interest rate on Standard Chartered Bank Fixed Deposit Account depend on your savings term and it can be checked from the rate table of Standard Chartered Bank Fixed Deposit Account by calling the customer service number of Standard Chartered Bank to ask about the interest rate and terms of account opening.
Minimum and Maximum amount
You can open a Standard Chartered Bank Fixed Deposit account with a minimum amount of N10,000. There is no maximum amount, but you should note that the interest rate is 0.75% for deposits below N1 million. Deposits above N1 million will earn an interest rate of 1%. A business account holder will have a lower rate of 0.5%.
A Standard Chartered Bank Nigeria Fixed Deposit Account enables its holders to choose between six terms: 7 days, 14 days, 28 days, 90 days, 182 days and 364 days.
Standard Chartered Bank also offers its clients other banking services such as Savings and Current Accounts as well as loans for property purchase and car purchase.
The Standard Chartered Bank offers different interest rates for their fixed deposit accounts depending on the amount of money deposited and the length of time the money is deposited for. The longer you deposit your money, the higher the interest rate will be. For example, if you deposit N1,000 for one year, you will earn an interest rate of 0.50%. However, if you deposit N10,000 for five years, you will earn an interest rate of 1.00%.
You must be 18 years or older to open a Standard Chartered Bank Fixed Deposit account. There is no minimum deposit amount, but you must maintain a balance of at least N10,000 in your account to earn interest. Interest is paid monthly and calculated on the daily closing balance in your account. You can choose to have your interest paid into your account or reinvested into your fixed deposit. The maturity period for a Standard Chartered Bank Fixed Deposit account is 12 months.
How to Apply?
To open a Standard Chartered Bank Nigeria Fixed Deposit account, visit any Standard Chartered bank branch in person and request an application form. You will need to provide your personal details, contact information, and proof of identity. Once your application is approved, you will be asked to make an initial deposit. Your money will then be deposited into your account and you will start earning interest on it immediately.
You will need to provide some personal information and documents to open a Standard Chartered Bank Fixed Deposit account. The required documents may vary depending on your country of residence, but they typically include a valid ID, proof of address, and proof of income. The bank will also need to verify your identity and conduct a background check. Once all of the necessary documentation has been collected, you can open an account by making an initial deposit.