Syndicate Bank Fixed Deposit

About Syndicate Bank Fixed Deposit

Syndicate Bank is a premier public sector bank with its inception dated back to as old as 1928. The bank, previously known as Canara Industrial and Syndicate Limited, currently operates through its 3,300 branches and close to 4,000 ATMs across the country. The bank, with a strong presence in retail banking, business banking and investment banking, is also a noted player in fixed deposit by providing products like standard fixed deposit account, SyndTaxShield Deposit, Vikas Cash Certificate, Syndicate Suvidha Deposit, Social Security Deposit, Senior Citizens Security Deposit, to name a few. The interest rate applicable is based on the period of deposit you choose to go with. You can check below the interest rates applicable on domestic, NRO and NRE term deposits.

Syndicate Bank Fixed Deposits Interest Rates

(w.e.f. 10.08.2017)

Period of Deposit Amount Below ₹ 1 Cr
(% p.a.)
₹1 Cr to Less than ₹5 Cr
(% p.a.)
Above ₹5 Cr
(% p.a.)
7-14 Days04.7504.5004.50
15-30 Days04.7504.5004.50
31-45 Days04.7504.5004.50
46-60 Days04.7504.5004.50
61-90 Days05.50 05.00 05.00
91-120 Days05.50 05.00 05.00
121-179 Days05.50 05.00 05.00
180-269 Days06.15 05.00 05.00
270- less than 1 Year06.15 05.00 05.00
1 year06.5005.5005.30
Above 1 Year-2 Years06.5005.5005.30
Above 2-Less than 5 Years06.6005.5005.30
Above 5-10 Years06.50 05.5005.30

Note- Fixed deposits of less than ₹5 Cr and deposit period of one year are not applicable to NRO deposits.

Syndicate Bank Fixed Deposit Interest Calculator

Navigated through the interest chart shown above? Get down to the use of calculator that will show an amount you will end up with on your deposit. You just have to feed in deposit amount, tenure of deposit, rate of interest and interest compounding frequency to get a sight of the expected earning.

Syndicate Bank Fixed Deposit Schemes

Fixed Deposit

It is a type of scheme that helps your money yield interest even with a very short period of deposit.

Scheme Features

ParticularsDetails
Minimum Deposit Amount₹1,000
Minimum Deposit Period15 Days
Maximum Deposit Period10 Years
Interest Payout OptionMonthly at Discounted Rates or Quarterly Interest
Interest Payable for Senior Citizens0.5% Extra than Normal Rate
Loan FacilityLoans Available Upto 95% of the Deposit Amount
Nomination FacilityAvailable

SyndTax Shield Deposit Scheme

Loaded with tax-saving features, this scheme aligns with the union government notification on Bank Term Deposit Scheme, 2006 to let depositors avail tax benefits under Section 80C of the Income Tax Act.

Scheme Features

ParticularsDetails
Minimum Deposit Amount₹100 and in Multiples of the Same
Maximum Deposit Amount₹1,50,000 in a financial year
Minimum Deposit Period5 Years
Interest Rate for General PublicAs Applicable in the Period of Deposit
Interest Rate for Senior Citizens0.5% More than the Applicable Rate
Interest Payment optionOption I-Interest Payment in Lump Sum at Maturity
Option-II Interest Payment in Every Quarter or Month at Discounted Value as Per the Prevailing Rules
Premature WithdrawalNot Allowed Before 5 Years from the Date of Deposit
Nomaination FacilityAvailable
Types of DepositAccount Can be Opened Under Single or Joint Holder Type of Accounts
Income Tax BenefitsInterest Income Eligible for Tax Exemption Under Section 80C of the Income Tax Act
PANMandatory
Eligibility CriteriaIndividuals or HUF Having a Permanent Account Number (PAN)

Vikas Cash Certificate

The certificate, which is a money multiplier scheme, reinvests the interest every quarter to yield a hefty sum at the maturity. Want funds to give your child a secured future via education or let your daughter tie the knot with her dream man or buy a home? This is the scheme to vouch for.

Scheme Features

ParticularsDetails
Minimum Deposit Amount₹ 1,000
Minimum Deposit Period6 Months
Maximum Deposit Period10 Years
Interest Compounding FrequencyEvery Quarter
Premature WithdrawalAllowed. However, a Prescribed Penalty will be Deducted from the Withdrawn Amount
Loan FacilityAvailable Upto 95% of the Deposit Amount
Nomaination FacilityAvailable
Benefit for Senior CitizensAdditional Rate of Interest as Per Applicable Norms

Syndicate Suvidha Deposit

It is a flexible deposit scheme that offers partial withdrawal facility for depositors whenever they require to do the same. So, it is a product for those who want to earn higher interest rate on fixed deposit while enjoying the withdrawal facility when required.

Scheme Features

ParticularsDetails
Minimum Deposit Amount₹1,000 and in Multiples of ₹1,000
Minimum Deposit Period15 Days
Maximum Deposit Period10 Years
Interest Payable FrequencyEvery Quarter
Withdrawal AmountOption to Withdraw from the Deposit in Multiples of ₹1,000 Whenever Required
PenaltyNo Penalty Levied on Partial Withdrawals
Benefit for Senior Citizens & StaffsAdditional Rate of Interest as Per Applicable Norms
Nomination FacilityAvailable

Social Security Deposit

This is a perfect monthly income plan wherein you can yield regular income on your lump sum deposit at the month end to finance your needs. Pensioners and senior citizens are likely to benefit from this saving plan that guarantees a regular flow of income to feed upon.

Scheme Features

ParticularsDetails
Minimum Deposit Amount₹ 1,000
Minimum Deposit Period1 Year
Maximum Deposit Period10 Years
Interest Payment OptionInterest Payment Every Month or Quarter at Discounted Rates During the Deposit Period
Benefit for Senior Citizens & StaffAdditional Rate of Interest as per Applicable Norms
Loan FacilityAvailable Upto 95% of the Deposit Amount Based on the Period of Deposit
Nomaination FacilityAvailable

Senior Citizens’ Security Deposit

The scheme, which is dedicated to citizens with an age of 60 years and more, gifts them with an additional 0.5% rate of interest above the applicable rates, thereby raising the expected earning from the deposit. So, if you have any members, be it your Dad, Mom or Grand Pa or Mom with an age of 60 years and more, tell them to open this deposit account to yield more income.

Scheme Features

ParticularsDetails
Minimum Deposit Amount₹1,000
Minimum Deposit Period1 Year
Maximum Deposit Period10 Years
Interest Payment OptionInterest Payment Every Month or Quarter at Discounted Rates During the Deposit Period
Benefit for Senior Citizens & StaffAdditional 0.5% Rate of Interest Above Normal Rate
Premature WithdrawalAllowed Without Any Penalty
Nomaination FacilityAvailable
Other Benefits- Exemption from Maintaining Minimum Balance in Prescribed Savings Bank Account
- Free Remittance to Any of Our Branches Upto a Certain Limit

Syndicate Bank Fixed Deposit Form

After reading the schemes, let’s get back to the ways by which you can apply for Syndicate Bank Fixed Account. You have two options available for you. Either you visit the bank’s website or its branch to get the form. Choice is yours. But the convenient of the two will be the former option of visiting the website of Syndicate Bank instead of waiting in the long queue in the latter option.

Syndicate Bank Fixed Deposit Form Download

Wanna know how to download the fixed deposit form? Just click ‘Downloads’ as shown on the website and you will see Application Forms flashing before your eyes. You need to select the option of Term Deposit in the Applicable Forms, which are available for various other products like Savings Account, Current Account and others.

Syndicate Bank Fixed Deposit Form Submission

Irrespective of whether you opt for online or offline mode, you have to fill in the form and submit it along with relevant documents to the concerned bank official to process your application for fixed deposit. Upon satisfactory investigation of the details, the bank will open a fixed deposit scheme that you choose to go with.

Documents Required

  • Filled Fixed Deposit Account Opening Form
  • Cheque
  • 2-3 Passport Size Photographs
  • Identity Proof- Passport, PAN Card, Driving License, Voter ID, Aadhaar Card, Photo Ration Card, Senior Citizen ID Card
  • Address Proof- Passport, Electricity Bill, Telephone Bill, Bank Statement, Certificate or ID Card Issued by Post Office

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