Standard Chartered Term Deposit Campaign

What is Recurring Term Deposit (RTD)?
It’s a special kind of term deposit offered for 12, 18 or 24 month, and provides customers the convenience to deposit a fixed amount every month and earn interest at an agreed rate. The principal amount at maturity will be paid back to the client with accrued interest.

How do Recurring Term Deposit (RTD) benefit clients?
This product creates convenience for customers, who may not have sufficient balance in hand, by allowing them to deposit a fixed amount on a monthly basis. This provides the customer with an investment opportunity to earn interest at competitive term deposit rates. The customer would be paid the the full invested amount as accumulated over the term, along with interest accrued at maturity of the tenor.

Is the option of early withdrawal (upliftment) available for Recurring Term Deposit (RTD)?
Yes, the option of early withdrawal is available to the customer but is subject to early withdrawal charges, similar to market practice.

What will happen if the client missed an installment?
If the client miss one or two installments, then the interest payout for those installments will also be excluded from consideration. If the client miss three installments during the tenor of RTD, then the RTD would be be broken before maturity. In such a case the accumulated principal and accrued interest, will be credited to the client’s saving or current account, after deduction of the early break up charges.

For more information about Recurring Term Deposit (RTD), please visit www.sc.com/bh.

What is Upfront Term Deposit (UTD)?
Upfront Term Deposit (UTD) is a unique TD product that pays Interest amount on Day 1 of the Term deposit. The TD can be offered over a tenor ranging from 3 month to 5 years. This distinct feature allows a client to immediately use the interest amount, unlike a conventional TD where a customer has to wait for the maturity of the TD to use the interest amount. In case of premature withdrawal by the client, the interest for the remaining period along with the premature withdrawal penalty will be deducted from the principal amount and balance proceeds will be credited into the client’s account.

When the interest and principle will be paid to the clients?
Interest is paid to the client on Day 1 of the Term Deposit Account opening. On maturity, only the principle amount will be credited to CASA account. Is the option of early upliftment available for Upfront Term Deposit (UTD): Yes, the option of early upliftment is available to the customer but is subject to some early withdrawal charges.

How much is the breakup /upliftment/ penalty charges for Upfront Term Deposit (UTD)?
The break up / upliftment charges are explained to the client at the account opening stage. A break up of the TD will result in the reduction of the interest rate offered on the TD facility.

For more information about Upfront Term Deposit (UTD),please visit www.sc.com/bh.

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