STDR Full Form in English - Web Designing House

STDR Full Form


 


STDR stands for Special Term Deposit Account, which is a variant of term deposits but here the interest is paid at the time of maturity instead of it being paid at the regular frequency during the deposit period. Regular interest is added to the principal & compound interest is then calculated and paid.


Why is STDR Better   
STDR is the abbreviation for Special Term Deposit where the interest is paid at
selected regular intervals. Now you have to choose what sort of term deposit you want to go for. If you are more into ROI, that is return on investment then STDR is better than TDR (Term deposit Receipt). These two are the main types of term deposits. TDR has a minimum fixed deposit for seven days and can be extended up to ten years. The payment can be withdrawn at any time.
STDR can be withdrawn at the time of maturity of the fixed deposit. It is called a Special Term Deposit as the interest earned on STDR is reinvested every quarter. It has a minimum deposit of six months and can be extended up to ten years.


Features of STDR in SBI
· Special term deposit (STD) account can be opened in the same way as the
Term Deposit Account. The interest of the STD Account is compounded at
quarterly intervals and principal and interest are paid on maturity.

· Minimum and the maximum period of deposit may be Seven days or 120
months respectively. Minimum and maximum periods are subject to
change.

· Minimum amount of deposit is Rs. 1000/- and thereafter, in multiple of Rs.
100/-.

· Loan facility is available against Special Term Deposit and loan amount
depends upon the residual tenor.

· Other terms and conditions are the same as in the case of a Term Deposit
account.

· The Bank offers other variants of fixed deposits like recurring deposit
accounts etc.