Double Advantage on savings with 2in1 account from standard chartered.

Exclusive benefits of a eSaver Plus Savings Account:

A unique proposition of automatically creating linked term deposits beyond a specified threshold balance value in the account further referred as “auto-make”. The term deposits will be created in multiples of Rs. 10,000.
Option of setting the threshold value, beyond which funds will be automatically transferred towards creation of linked term deposits, minimum threshold being Rs. 100,000. The threshold value, once determined at the time of account opening, cannot be changed later.
The “auto-make” shall be triggered on a daily basis and the term deposits shall be created with a fixed tenure of 9 days.
All automatically created term deposits will be under auto renewal for principal and credit interest to account.
Term deposit(s) are broken in multiples of Rs. 1 for the exact amount required to reinstate the balance in my/our savings account back to Rs. 100,000 or the threshold specified, whichever is higher further referred as “auto-break”.
The remaining balance in the term deposit shall continue to earn interest at the rate applicable for the residual balance. In case the term deposit was created with a preferential rate, the rate applicable on the residual balance may change. The revised rate shall be equivalent to the rate offered to similar amount as the residual balance, as published by the bank on the day when the particular term deposits was created / renewed.
In case of a need for an “auto-break”, LIFO (Last In, First Out) principle is followed
Average Quarterly Balance Requirements for eSaver Plus Savings Account is as under :-
Combined Average Quarterly Balance of eSaver Plus Savings Account and all linked Term Deposits >= Rs.300,000

The eSaver Plus Savings Account automatically creates linked Term Deposits from Savings Account. In case of any shortfall in the Savings Account, funds will be automatically swept in from the linked Term Deposits, thus giving you a combination of both liquidity and higher returns.

That’s not all. In case you need to withdraw amounts in excess of what is available in your Savings Account, we will break your deposit for the exact amount you require. The rest of the deposit continues as per the original tenure.

Interest Rate for Term Deposits W.E.F 26 Apr, 2012.
Domestic and NRO Deposits
Tenor	Current Rate for < 15 Lacs effective	Current Rate for >=15 Lacs - < 7.5 crore	Revised rate for <15 Lacs effective	Revised rate for >=15 Lacs - < 7.5 crore effective
Tenor	20 - Mar -12	20 - Mar -12	26 - Apr -12	26 - Apr -12
07-14 days	6.25%	6.25%	6.25%	6.25%
15-29 days	6.25%	6.25%	6.25%	6.25%
30-45 days	6.25%	6.25%	6.25%	6.25%
46-59 days	6.25%	6.25%	6.25%	6.25%
60-89 days	7.00%	7.00%	7.00%	7.00%
90-120 days	7.50%	7.50%	7.25%	7.25%
121-179 days	7.50%	7.50%	7.50%	7.50%
180 days <= 186 days	7.75%	7.75%	7.50%	7.50%
187 days*	9.25%	8.50%	9.25%	9.25%
188 days <1 year	7.75%	7.75%	7.50%	7.50%
1 year <= 375 days	7.75%	7.75%	7.75%	7.75%
376 days <= 390 days*	7.75%	7.75%	9.25%	9.25%
391 days <= 409 days	7.75%	7.75%	7.75%	7.75%
410 days	9.25%	9.25%	7.75%	7.75%
411 days <18 months	7.75%	7.75%	7.75%	7.75%
>=18 Months < 2 years	8.00%	8.00%	7.75%	7.75%
2 years < 3 years	8.25%	8.25%	7.75%	7.75%
3 years < 4 years	8.25%	8.25%	7.75%	7.75%
4 years <= 5 years	8.25%	8.25%	7.75%	7.75%

Rupee Time deposits held in Domestic, Non-Resident Ordinary (NRO) Accounts:

*No staff rates applicable

Rupee Time deposits held in Domestic, Non-Resident Ordinary (NRO) Accounts:

Traditional Term Deposit:

For Term Deposit with Tenure below 1 quarter (3months) :

Interest is calculated on the basis of actual number of days considering the year as 365 days

For Term Deposit with Tenure greater than 1 quarter

Interest for the quarter is calculated considering each quarter as 90 days and year as 360 days (90 days*4Quarters)

Interest for the last quarter is calculated on the basis of actual number of days considering the year as 365 days

Reinvestment Term Deposit

Interest for each completed quarter is calculated considering each quarter as 90 days and year as 360 days (90 days*4Quarters).

Interest for the last quarter is calculated on the basis of actual number of days considering the year as 365 days.

Interest for each quarter is compounded.

This methodology is applicable for all resident and NRO deposits opened after 24th February, 2009.

Full access to the SA + TD fund balances
Available Balance for for withdrawal is the sum of (i) the entire balance of the linked transaction account (“the account”) and (ii) 95% of the break value of all linked term deposits. Break Value = (principal + interest payable if the term deposit is broken on that day) - (penal interest + TDS if applicable). However, 100% of the break value of all linked term deposits shall be made available to honour cheques issued & withdrawal of funds at the branch (This excludes withdrawals carried out at ATM centres at branches).
Interest rate of 6.25% on the term deposit subject to it being live for a minimum period of 7 days.
Prepayment Penalty waiver on Auto TD’s created above minimum threshold
Full benefits of a Savings Transaction account with multicity cheque book, branch access etc
Platinum Debit Card with 5%* cash back on all POS spends. Max cap on cash back shall apply on every transaction performed. The current limit / transaction is Rs.100* Max cap on cash back limit shall apply per calendar month. The current limit / month is Rs.250*
Discounts on Locker Fee**
Account related information at your fingertips by calling up Phone Banking

* The Bank reserves the right to amend / revoke the cash back limits. A notice with reasonable time frame shall be given for any changes to the same. The cash back payout /frequency shall be decided by the bank (daily/ monthly / half yearly, currently it is monthly). The fees of Rs.499 shall be applicable second year onwards. No fees shall be levied during the first year.

** second year onwards 25% discount shall only be offered to customers who have maintained Average quarterly balance for the last previous 4 quarters