Standard Chartered Saadiq Term Deposit-i

Standard Chartered Fixed Deposit/Term Deposit-i Promotion 2024

Standard Chartered is among the best financial institutions in the market offering attractive returns with their Fixed Deposit account. The returns you’ll earn get even better with their FD promotion from 1 October 2024 until 31 December 2024 (“Promotion Period”), subject to the campaign’s terms and conditions.

This promotion is open to new and existing individual account holders of Standard Chartered and Standard Chartered Saadiq’s current account/-i or savings account/-i who are 18 years old and above.

Hurry and grab this chance to enjoy promotional rates shown in the following tables with the Standard Chartered Fixed Deposit or Term Deposit-i accounts. Rest assured that your deposits are protected by PIDM for up to RM250,000.

Promotion 1: Applies to all Standard Chartered customers

Promotion 2: Applies to Standard Chartered Priority Banking customers

*Fresh funds means monies or funds howsoever transferred, credited, or paid into the eligible CASA/CASA-i from other banks and/or financial institutions or liquidation of wealth assets held with Standard Chartered Malaysia Berhad or Standard Chartered Saadiq Berhad. For the avoidance of doubt, transfers of funds from other CASA/CASAi or including maturity and/or upliftment of FD/TD-i maintained with SCBMB or SCSB are not recognized as Fresh Funds.

How does this Standard Chartered Saadiq Term Deposit-i work?

The Standard Chartered Saadiq Term Deposit-i is an Islamic investment account that operates on the Shariah concept of Tawarruq.

Your profit rates will be determined by the bank, based on the buying and selling of commodities following the principles of Islam, which Standard Chartered Saadiq will identify and perform on your behalf.

I'm interested in applying. Am I eligible?

This investment plan is open to all Malaysian citizens who are 18 years of age, both Muslims and non-Muslims.

All you need to do is to deposit a minimum amount of RM1,000. For 1-month placements, you will need a minimum of RM5,000.

This Standard Chartered Saadiq Term Deposit-i account is also offered for private limited companies, sole proprietors, clubs, societies, cooperatives and associations. 

For corporate or non-profit organisations, including private limited companies, a minimum deposit of RM5,000 is required for a one-month placement or RM1,000 for over 3 months of placement.

How long can I invest my money?

You can choose an investment period according to your needs (and patience), with placement periods of up to 60 months.

Does PIDM protect this Islamic term deposit?

Yes, the Standard Chartered Saadiq Term Deposit-i is eligible for protection by PIDM, as long as your deposit does not exceed RM250,000.

What documents do I need to open a Saadiq Term Deposit-i?

For individual or joint accounts:

• Copy of your IC

For sole proprietor or partnership accounts:

• Business Registration (Form A)
• Company license (Form D)
• Copy of IC of all partners as an individual customer

For corporate or non-profit organisation accounts:

• Copy of IC
• Certified copy of rules and regulations
• Certified copy of a Resolution to open the account signed by the chairman and secretary
• Certified copy of the certificate of registration

For private limited companies account:

• Identity documents of all directors and signatories
• Certified copy of the certificate of incorporation (Form 49)
• Certified copy of the return of allotment of shares (Form 24)
• Certified copy of memorandum and articles of association
• Certified copy of a board resolution regulating the conduct of the account
• Certificate by the registrar of company that the company is entitled to commence business
• Certified copy of a resolution to open the account signed by the chairman and secretary