Syndicate Bank is Nationalized Public Sector Bank established in 1925 in Udupi, the abode of Lord Krishna in coastal Karnataka with a capital of Rs.8000/- by three visionaries – Sri Upendra Ananth Pai, a businessman, Sri Vaman Kudva, an engineer and Dr.T M A Pai, a physician – who shared a strong commitment to social welfare. Their objective was primarily to extend financial assistance to the local weavers who were crippled by a crisis in the hand loom industry through mobilizing small savings from the community. The bank collected as low as 2 annas daily at the doorsteps of the depositors through its Agents under its Pigmy Deposit Scheme started in 1928. This scheme is the Bank’s brand equity today and the Bank collects around Rs. 2 crore per day under the scheme. Currently each day collection through Pigmy is approximately Rs Two crore and more.
A regular interest earning scheme. A flexible and convenient deposit scheme which ensures that your money never remains idle. Even very small amounts earn interest for very short periods. Yes. You can deposit an amount of just Rs.1000/- for a period as short as 15 days and make it grow.
Salient features of the Fixed Deposit of Syndicate Bank are:
Syndicate Bank is offering a series of interest earning fixed deposit schemes. Customer can customized the fixed deposit schemes through various mean, tenure etc. They are collecting as low as Rs 1000 as minimum amount for fixing money for set of maturity time interval. Syndicate Bank fixed deposit scheme allows flexible payout options.
Loan on Fixed Deposit Interest Rate
Syndicate bank providing Loan on Deposits (LD) or Overdraft on Deposit (ODD) up to 95% of the deposit amount depends on the maturity time frame.Nomination facility are available under the Syndicate Bank fixed deposit scheme.
Interest Rate on LD & ODD against Fixed Deposit : 2% Over and above the Fixed Deposit prevailing rate
About Syndicate Bank Short Term Fixed Deposit Interest Rates
Fixed deposit rates of syndicate Bank are vary from 4.75% To 6.70% As on 08/05/2017 for various days.
Syndicate Bank offering Fixed deposit accounts with tenures in the range of 1 year to 10 years. There are various interest rate offered as per table for various time duration.
Tenures of exactly 5 years are given interest at the rate of 6.70% as well. Tenures ranging from 5 years to 10 years are offered an interest rate of 6.7% p.a.
Senior citizens are offered an additional 0.50% over the prevalent card rate for fixed deposit account tenures in the range of 1 year to 10 years. No senior citizen benefit are given on the Fixed deposit with tenure less than a year.
Syndicate Bank Fixed Deposit Interest Rate
INTEREST RATES ON DEPOSITS |
(w.e.f. 08/05/2017 ) : Click for Syndicate Bank’s Website |
Sr No. | Period of Deposit/ Tenors | Rate of Interest (% p.a.) | |||||
Less than 1 cr | 1 cr to less than 5 cr | 5 cr to less than 25 cr | 25 cr to less than 50 cr | 50 cr to less than 100 cr | > 100 cr & above | ||
---|---|---|---|---|---|---|---|
1 | 7 to 14 days | 04.75 | 04.75 | 04.50 | 04.50 | 04.50 | 04.50 |
2 | 15 to 30 days | 04.75 | 04.75 | 04.50 | 04.50 | 04.50 | 04.50 |
3 | 31 to 45 days | 04.75 | 04.75 | 04.50 | 04.50 | 04.50 | 04.50 |
4 | 46 to 60 days | 04.75 | 04.75 | 04.50 | 04.50 | 04.50 | 04.50 |
5 | 61 to 90 days | 05.50 | 05.25 | 05.00 | 05.00 | 05.00 | 05.00 |
6 | 91 to 120 days | 05.50 | 05.25 | 05.00 | 05.00 | 05.00 | 05.00 |
7 | 121 to 179 days | 05.50 | 05.25 | 05.25 | 05.25 | 05.25 | 05.25 |
8 | 180 to 269 days | 06.25 | 05.25 | 05.25 | 05.25 | 05.25 | 05.25 |
9 | 270 to less than 1 year | 06.25 | 05.25 | 05.25 | 05.25 | 05.25 | 05.25 |
10 | 1 year exact | 06.60 | 06.25 | 05.50 | 05.50 | 05.50 | 05.50 |
11 | Above 1 year to 2 years | 06.60 | 06.25 | 05.50 | 05.50 | 05.50 | 05.50 |
12 | Above 2 to less than 5 yrs | 06.70 | 06.25 | 05.50 | 05.50 | 05.50 | 05.50 |
13 | Exact 5 yrs | 06.70 | 06.25 | 05.50 | 05.50 | 05.50 | 05.50 |
14 | Above 5 to 10 yrs | 06.70 | 06.25 | 05.50 | 05.50 | 05.50 | 05.50 |
*Acceptance of deposits of over Rs 5 Crores is at the discretion of the Bank. |
Syndicate Bank Fixed Deposit Interest rate Calculator
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