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

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.