Hello sir I want to know about tax shield in syndicate bank so here can you please give me details ?

Hey as Syndicate Bank is one of the oldest and major commercial banks of India. It was founded by T M A Pai, Upendra Pai and Vaman Kudva.

Tax Shield

Syndicate Bank has launched a new deposit scheme, 'Synd Tax Shield', which offered Income Tax benefits to the depositors.

Eligibility

Any individual or Hindu undivided family could invest in multiples of Rs 100 for a minimum period of five years

Duration

The time period of tax shield would be 5 years

Rate of interest

The rate of interest on the deposit would be eight per cent per annum, with senior citizens getting an additional one per cent.

Investment

The scheme offered tax benefit under section 80 C of the Income Tax Act up to an investment of Rs one lakh.

However, the investor could neither withdraw the amount within five years of investment, nor avail any loan thereon, the bank said.

Facilities in Syndicate Bank

Net banking

Mobile banking

SME banking

Tab banking

Internet banking

Adhar banking