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May 5th, 2016, 10:07 AM
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Join Date: Mar 2012
Re: Syndicate Bank SB Account Interest Rate

The Syndicate Bank was established in Udupi in 1925. Its objective is to extending financial assistance to the local weavers by mobilizing small savings for the community, laid its groundwork.

Syndicate Bank’s brand equity is in the Pigmy Deposit Scheme, which was established in 1928. Under this scheme, initially, deposits as low as 2 annas daily were accepted by the bank.

Syndicate Bank Short Term Fixed Deposit Interest Rates:

Syndicate Bank offers an interest rate of 7.50% p.a. for deposit tenures ranging from 30 days to 90 days. Tenures in the range of 91 days to 120 days are offered with an interest rate of 7.40% p.a.

8% p.a. interest rate is offered to fixed deposit account tenures ranging between 121 days to 269 days. Tenures in the range of 270 days to 363 days are offered interest at the rate of 8.10% p.a.

Tenures of exactly 364 days are offered an interest rate of 8% p.a.

Tenures of exactly one year (365 days) are offered a rate of interest of 8.50% p.a

Rate of Interest on RFC (SB) and PENAL:

RFC (SB) Interest rate and Penal Interest rates are being revised as under.

Scheme Currency Existing rate (p.a.) Proposed rate (p.a.)
RFC (SB) USD ($) 0.10 - nil -
GBP 0.25 - nil -
EUR - nil - - nil -
CAD - nil - - nil -
AUD 1.00 - nil –


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