Syndicate Banks offering currently 7.50% of interest rates on 1 year of term deposit, find the complete rate chart for 2016 and calculator to find the return here. Syndicate bank is actually continuing the oldest history of commercial banking in India. It was established in the year of 1985 in Udupi. The major aim of this globalised bank is expanding the thought of monetary support to the weavers of the region by assembling some small savings, especially for the society from the basic foundation.
In this modern age, the prime equity of Syndicate bank is in the Deposit Scheme of Pigmy, this brand has been launched in the year of 1928, which is also pretty old. This scheme is circulated with the idea of the minimum deposit of 2 annas on a regular basis, every day. But with the growing financial condition of the world, Syndicate bank is now collecting approx 2 cores, which deliberately comes under Pigmy scheme.
Fixed Deposit rates of Syndicate Bank
The rates of fixed deposit of Syndicate bank vary from one person to another with the age, income value and deposit amount. For the scheme, they offer a regular basis interest.
- One can start from minimum 1000 rupees deposit under this; the bank is able to provide a flexible option of payout.
- There are two types of FD in Syndicate bank. Long term and short term deposit.
- In the short term deposit, they give an annual interest of 6.00%, with a durable time of 30 to 60 days approx. For 91 days to the maximum 120 days of tenures, they offer 7.00% interest rate per annum.
- For a 180 to 169 days tenures ranging from the account, they give 7% interest.
- For 270 to 363 days range, it is 7% per annum and for complete one year or 365 days, it is 7.50% per annum.
- Among the genre of the long term, they offer 7.25% per annum for the time range of one year to minimum two years. For more than five years or up to 5 years it is 6.75 % and for five to seven years, the interest rate is 7%.
- Syndicate bank provides a special offer for the senior citizen. It is an extra 0.50% over the rate of their prevalent card. The time duration, in this case, is from one year to ten years comparatively.
If one FD account holder abruptly withdraws their deposit before the time of mature, it should be subjected to a prescribed penalty.
How to open an FD account
- To open an FD account with Syndicate Bank, go to their official website and download the application form.
- Take a print out of this and fill it up properly.
- Send it to your nearest Syndicate bank branch with a cheque or draft
- Directly remit to the bank account with an associate bank.
- Provide your attested ID proof and two copies of your passport size photograph along with this.
To check the fixed deposit calculator, kindly go to this page and just enter the interest rates, and it will show the exact return you will be getting at maturity rate.
In case if you don’t have an account with the Syndicate bank then you can simply download the application form using this page – https://www.syndicatebank.in/, filled up the necessary details and submit it to the nearest branch.
|Duration||Interest Rate (in % per Annum)|
|For General||For Senior Citizen|
|31 Days to 45 Days||5.75||6.25|
|46 Days to 60 Days||5.75||6.25|
|61 Days to 90 Days||6.50||7.00|
|91 Days to 184 Days||6.75||7.25|
|184 Days to 289 Days||6.75||7.25|
|290 Days to 1 Years||6.75||7.25|
|1 Years to 2 Years||7.00||7.50|
|2 Years to 5 Years||6.75||7.25|
|5 Years to 10 Years||6.50||7.00|
Updated in Dec 2016