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Syndicate Bank FD Rates

The Fixed Deposit product of Syndicate Bank is a regular interest earning scheme. It is both flexible and convenient, and has been designed to ensure that the account holder's money never remains idle. Accountholders have the facility to invest very small amounts for very short periods as well. An FD account can be opened with a deposit of just Rs. 1,000, for a duration of as short as 7 days.

About Syndicate Bank: Syndicate Bank was established in 1925 in Udupi with a capital of Rs. 8,000. Over the years, the bank has proven to be a catalyst of development across the nation, with reference to the common man at the individual level and in rural/semi urban centres at the area level. Syndicate Bank is a pioneer among the Public Sector Banks on launching Centralised Banking Solution.

(Note - All the information contained in this page has been sourced from the official website of Syndicate Bank.)

Syndicate Bank FD Rates 2019

Syndicate Bank Interest Rates on Domestic Term Deposits (w.e.f. 05/03/2019)

Click here to know about Syndicate Bank Interest Rates on Domestic Term Deposits

Source: Official website of Syndicate Bank

(Fixed deposit interest rates are subject to change anytime as per Bank’s discretion.)

Note:

  • Additional interest of 0.50% over the card rate is payable to senior citizens on deposits of less than Rs. 5 crore and maturity tenure of more than 180 days.
  • Employees and eligible ex-employees are eligible for an additional interest of 1% over the card rate label.
  • Eligible ex-employees, who are senior citizens and eligible for the 1% additional interest, are eligible for an additional 0.50% interest payable to senior citizens on domestic term deposits of less than Rs. 1 crore and maturity tenure above 180 days only.

Syndicate Bank Interest Rate on FCNR (B)

The current interest rates on FCNR(B) deposits in GBP, EURO, US Dollars, CAD and AUD are as follows:

Click here to know about current interest rates on FCNR(B) deposits

Source: Official website of Syndicate Bank

(The interest rates are subject to change anytime as per Bank’s discretion.)

Syndicate Bank Non-Resident External Deposits Interest Rates

Interest Rate on Non-Resident Rupee Term Deposits A/C’s (w.e.f. 05/03/2019)

Click here to know about Interest Rate on Non-Resident Rupee Term Deposits

Source: Official website of Syndicate Bank

(The interest rates are subject to change anytime as per Bank’s discretion.)

Note:

  • Additional interest is NOT applicable on NRE deposits opened by employees/eligible ex-employees and senior citizens.
  • Rates quoted on a daily basis over and above card rates on domestic term deposits shall be treated as Differential Rates of Interest. Such deposits will be DRI deposits.

Features & Eligibility of Syndicate Bank FD Account

  • The minimum deposit to open a fixed deposit account with Syndicate Bank is Rs. 1,000.
  • Deposits are accepted for periods ranging from 7 days to 120 months.
  • There is the option to receive monthly interest at discounted rates or quarterly interest.
  • Senior citizens and staff are eligible for additional rate of interest, as per applicable norms.
  • Nomination facility is available.
  • The interest rates on deposits are as fixed by the bank from time to time.
  • Automatic renewal facility is available.
  • Premature withdrawal of deposit is allowed any time, subject to the payment of prescribed penalty.
  • Loans can be availed up to a maximum of 95% of the deposit amount. This will depend on the length of the unexpired period of the deposit.

Eligibility Criteria - Syndicate Bank FDs

All individuals are eligible to open a fixed deposit account with Syndicate Bank. The minimum amount required to open a term deposit account with the bank is Rs. 1,000. For more information on the eligibility criteria, refer to the website of Syndicate Bank.

FAQs on Syndicate Bank FD Rates

What is the interest rate that Syndicate Bank Fixed Deposit offers on senior citizens FDs?

An additional interest of 0.50% over the card rate is payable to senior citizens on domestic term deposits of less than Rs. 5 crore and maturity tenure of more than 180 days.

Can I make alterations to the tenure of my ongoing Syndicate Bank Fixed Deposit?

An individual cannot change the tenure of an already active fixed deposit account. However, he or she can close the existing fixed deposit account and open a new one with tenure of his or her choice.

How to open a Syndicate Bank Fixed Deposit account without a PAN card?

In case PAN is not available, an individual will have to make a declaration in Form 60.

What is the highest interest rate offered by the Syndicate Bank Fixed Deposit?

Interest rates on fixed deposits up to Rs. 5 crores can go as high as 7.15%.

What are the FD tenure options with Syndicate Bank Fixed Deposit?

The period of deposit can range from 7 days to 120 months.

What is the minimum amount required to start a Syndicate Bank Fixed Deposit account?

The minimum amount required to open a fixed deposit account with Syndicate Bank is Rs. 1,000.

What is the eligibility criteria to open a Syndicate Bank Fixed Deposit account?

All individuals are eligible to open a fixed deposit account with Syndicate Bank. The minimum amount required to open a term deposit account with the bank is Rs. 1,000.

Can I open my Syndicate Bank Fixed Deposit without a PAN card?

While it is possible to open a fixed deposit account without a PAN card, there are certain implications to it. The TDS applicable will be recovered at 20% (as against 10% with PAN card). There will be no TDS credit from the Income Tax department, and no TDS certificate shall be issued (As per CBDT circular no: 03/11). Additionally, penal TDS will apply and Form 15G/H and other exemption certificates become invalid. It must be noted that no deposit for a sum equal to or more than Rs. 50,000 shall be booked if the PAN is not provided.

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