Syndicate Bank Fixed Deposit
Last Updated : April 5, 2017, 9:45 a.m.
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 FD 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 FD Interest Rates April 2024
| Period of Deposit | Amount Below INR 1 Cr (% p.a.) | INR 1 Cr to Less than INR 5 Cr (% p.a.) | Above INR 5 Cr (% p.a.) |
|---|---|---|---|
| 7-14 Days | 04.75 | 04.50 | 04.50 |
| 15-30 Days | 04.75 | 04.50 | 04.50 |
| 31-45 Days | 04.75 | 04.50 | 04.50 |
| 46-60 Days | 04.75 | 04.50 | 04.50 |
| 61-90 Days | 05.50 | 05.00 | 05.00 |
| 91-120 Days | 05.50 | 05.00 | 05.00 |
| 121-179 Days | 05.50 | 05.00 | 05.00 |
| 180-269 Days | 06.15 | 05.00 | 05.00 |
| 270- less than 1 Year | 06.15 | 05.00 | 05.00 |
| 1 year | 06.50 | 05.50 | 05.30 |
| Above 1 Year-2 Years | 06.50 | 05.50 | 05.30 |
| Above 2-Less than 5 Years | 06.60 | 05.50 | 05.30 |
| Above 5-10 Years | 06.50 | 05.50 | 05.30 |
Note- Fixed deposits of less than ₹5 Cr and deposit period of one year are not applicable to NRO deposits.
Syndicate Bank FD Interest Calculator
Navigated through the interest chart shown above? Get down to the use of FD 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
| Particulars | Details |
|---|---|
| Minimum Deposit Amount | INR 1,000 |
| Minimum Deposit Period | 15 Days |
| Maximum Deposit Period | 10 Years |
| Interest Payout Option | Monthly at Discounted Rates or Quarterly Interest |
| Interest Payable for Senior Citizens | 0.5% Extra than Normal Rate |
| Loan Facility | Loans Available Upto 95% of the Deposit Amount |
| Nomination Facility | Available |
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
| Particulars | Details |
|---|---|
| Minimum Deposit Amount | INR 100 and in Multiples of the Same |
| Maximum Deposit Amount | INR 1,50,000 in a financial year |
| Minimum Deposit Period | 5 Years |
| Interest Rate for General Public | As Applicable in the Period of Deposit |
| Interest Rate for Senior Citizens | 0.5% More than the Applicable Rate |
| Interest Payment option | Option 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 Withdrawal | Not Allowed Before 5 Years from the Date of Deposit |
| Nomaination Facility | Available |
| Types of Deposit | Account Can be Opened Under Single or Joint Holder Type of Accounts |
| Income Tax Benefits | Interest Income Eligible for Tax Exemption Under Section 80C of the Income Tax Act |
| PAN | Mandatory |
| Eligibility Criteria | Individuals 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
| Particulars | Details |
|---|---|
| Minimum Deposit Amount | INR 1,000 |
| Minimum Deposit Period | 6 Months |
| Maximum Deposit Period | 10 Years |
| Interest Compounding Frequency | Every Quarter |
| Premature Withdrawal | Allowed. However, a Prescribed Penalty will be Deducted from the Withdrawn Amount |
| Loan Facility | Available Upto 95% of the Deposit Amount |
| Nomaination Facility | Available |
| Benefit for Senior Citizens | Additional 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
| Particulars | Details |
|---|---|
| Minimum Deposit Amount | INR 1,000 and in Multiples of INR 1,000 |
| Minimum Deposit Period | 15 Days |
| Maximum Deposit Period | 10 Years |
| Interest Payable Frequency | Every Quarter |
| Withdrawal Amount | Option to Withdraw from the Deposit in Multiples of INR 1,000 Whenever Required |
| Penalty | No Penalty Levied on Partial Withdrawals |
| Benefit for Senior Citizens & Staffs | Additional Rate of Interest as Per Applicable Norms |
| Nomination Facility | Available |
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
| Particulars | Details |
|---|---|
| Minimum Deposit Amount | INR 1,000 |
| Minimum Deposit Period | 1 Year |
| Maximum Deposit Period | 10 Years |
| Interest Payment Option | Interest Payment Every Month or Quarter at Discounted Rates During the Deposit Period |
| Benefit for Senior Citizens & Staff | Additional Rate of Interest as per Applicable Norms |
| Loan Facility | Available Upto 95% of the Deposit Amount Based on the Period of Deposit |
| Nomaination Facility | Available |
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
| Particulars | Details |
|---|---|
| Minimum Deposit Amount | INR 1,000 |
| Minimum Deposit Period | 1 Year |
| Maximum Deposit Period | 10 Years |
| Interest Payment Option | Interest Payment Every Month or Quarter at Discounted Rates During the Deposit Period |
| Benefit for Senior Citizens & Staff | Additional 0.5% Rate of Interest Above Normal Rate |
| Premature Withdrawal | Allowed Without Any Penalty |
| Nomaination Facility | Available |
| 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