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Syndicate Bank FD Interest Rates

Syndicate Bank is the oldest leading bank among the Public Sector Banks. It is also known for being one of the first banks to launch a Centralised Banking Solution. It provides various fixed deposit schemes to earn regular interest. Moreover, the bank offers flexible tenures according to their customer’s requirements. Syndicate Bank has been combined with Canara Bank w.e.f. 1st April 2020. Syndicate Bank FD interest rates are attractive and provide more security and high return for saving. By providing compounding and payout options by Syndicate Bank, it maintains funds based on their liquidity requirements for investors.

Features & Benefits Of Syndicate Bank FD Rates

Here are the features & benefits of Syndicate Bank FD interest rates-

  • The minimum deposit amount is Rs.1,000
  • No maximum ceiling
  • Individuals or jointly can be opened
  • Auto-renewal facility
  • By HUFs, company associations, partnerships can be opened
  • By guardians on behalf of minors Can be opened
  • Tenures range between 15 days to 120 months
  • Interest is paid as per depositor choice at monthly, quarterly, half-yearly, or annual intervals
  • Available Loan facility up to 90% of the deposit amount
  • Available Nomination facility 
  • Available Part-withdrawal facility
  • No penalty for the deposit for premature closure of above Rs.2 crore

 

Syndicate Bank FD Interest Rates 2021

FD Tenure

Syndicate Bank FD Interest Rates (% p.a.)

Regular Citizens

Senior Citizens

7 days to 45 days*

2.95 2.95
46 days to 90 days 3.90

3.90

91 days to 179 days

4.00 4.00
180 days to less than 1 year 4.45

4.95

1 year

5.20 5.70
More than 1 year to less than 2 years 5.20

5.70

2 years or above or less than 3 years

5.40 5.90
3 years or above or less than 5 years 5.50

6.00

5 years & above to 10 years

5.50

6.00

Types of Syndicate Bank FDs

Here are the different types of Syndicate Bank FDs:

  • SyndTax Shield Deposit Scheme
  • Vikas Cash Certificate
  • Syndicate Suvidha Deposit
  • Social Security Deposit
  • Senior Citizens Security Deposit

Eligibility Criteria for Syndicate Bank Fixed Deposits

Mentioned below are the persons who are eligible to invest in Syndicate Bank fixed deposits (FD):

  • Individual
  • Minor
  • HUF
  • Proprietary Firm
  • Partnership Firm
  • Limited Liability Partnership (LLP)
  • Company
  • Association of Persons (AOP)
  • Body of Individuals (BOI)
  • Local Authority
  • Trust
  • Non-Resident Indian (NRI)
  • Registered Society

 

How To Calculate Syndicate Bank FD Interest Rates

Using the Syndicate Bank FD calculator, customers can calculate the maturity amount of their term deposit earned at the current Syndicate Bank FD interest rates. This calculator helps multiple times for different tenure options, deposit amounts in Syndicate Bank fixed deposit interest rates.  This tool is easy to use and available online also. You need to enter the tenure (in months), amount, rate of interest, and the kind of fixed deposit scheme you need to apply for – and the calculator will calculate the number present to you with a breakup of the interest earned and the maturity amount. Using Syndicate Bank FD Calculator offers you exact, error-free, and accurate results.

Factors Affecting Syndicate Bank Fixed Deposit Rates

Here are the factors that affect Syndicate Bank FD Rates-

  • For the short-term holding of fixed deposits, the bank offers an interest rate of 7.5% per annum and their period ranging from 1-3 months, and for the holding period ranging from 3-4 months, it is reduced by 0.10% to 7.4% per annum.
  • The returns can be pegged at 8.10% per annum for the holding period of 1-2 years, and for the holding period of 2-5 years, it decreases to 8% per annum.
  • The rate of interest is calculated at 8% per annum for the holding period of five years, and for the holding period ranging from 5-7 years, it becomes 7% per annum.
  • Syndicate Bank provides an additional 0.5% of interest rates for senior citizens for the tenures ranging from 1-10 years.

 

FAQs:

What is the Syndicate Bank fixed deposit minimum period?

The minimum period of Syndicate Bank Fixed Deposit is 15 Days.

What is the Syndicate Bank FDs minimum amount required to open?

The minimum amount required to open in Syndicate Bank FDs is Rs. 1000, for a period of less than 15 days. The maximum tenure is 120 months.

What is the Syndicate Bank Fixed Deposit of minimum & maximum period for tenure in an account?

In Syndicate Bank the minimum & maximum period for a Fixed Deposit account is 7 days & 10 years respectively.

What is the Syndicate Bank highest fixed deposit interest rate?

Syndicate Bank FDs interest rates provide the highest rate for a domestic term is 5.50% p.a. for a tenure ranging between 3 years and up to 10 years.

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