How to find the best rates for Syndicate Bank Fixed Deposit
Syndicate Bank was established in Udupi in 1925. Its main objective of extending financial assistance to the local weavers by mobilizing small savings for the community, laid its groundwork.
Today, Syndicate Bank’s brand equity is in the Pigmy Deposit Scheme, which was established in 1928. Under this scheme, initially, deposits as low as 2 annas daily were accepted by the bank.
Today, Syndicate Bank collects around Rs. 2 crore, each day under this scheme.
About Syndicate Bank Fixed Deposit
Syndicate Bank offers a regular interest earning fixed deposit scheme. It can be customised with flexible tenure options to suit various requirements. With a minimum deposit amount of Rs. 1,000, the Syndicate Bank fixed deposit scheme allows flexible payout options.
Loans up to 95% of the deposit amount and nomination facility are available under the Syndicate Bank fixed deposit scheme.
About Syndicate Bank Short Term Fixed Deposit Interest Rates
Syndicate Bank offers an interest rate of 7.50% p.a. for deposit tenures ranging from 30 days to 90 days. Tenures in the range of 91 days to 120 days are offered with an interest rate of 7.40% p.a.
8% p.a. interest rate is offered to fixed deposit account tenures ranging between 121 days to 269 days. Tenures in the range of 270 days to 363 days are offered interest at the rate of 8.10% p.a.
Tenures of exactly 364 days are offered an interest rate of 8% p.a.
Tenures of exactly one year (365 days) are offered a rate of interest of 8.50% p.a.
Syndicate Bank Medium and Long Term Fixed Deposit Interest Rates
Fixed deposit accounts with tenures in the range of 1 year to 2 years are offered interest at the rate of 8.10% p.a. Fixed deposits in the range of 2 years to 5 years are given at an interest rate of 8% p.a.
Tenures of exactly 5 years are given interest at the rate of 8% as well. Tenures ranging from 5 years to 7 years are offered an interest rate of 7% p.a.
Syndicate Bank Fixed Deposit Senior Citizen Interest Rate
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.
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