Syndicate bank RD

I want to open a Recurring Deposit (RD) account in Syndicate bank, so here I wan to get Syndicate bank RD account information???

[Kiran Chandar]

As you want open Recurring Deposit at Syndicate bank , then for it I wan to tell you that it is an ideal scheme of monthly savings for salaried for people, businessmen ,professionals etc.

Syndicate bank RD account Salient features are as follows:
Minimum deposit is Rs.100/-per month.


Period of deposit ranges from 12 months to 10 years.

Delayed payment of instalments are accepted with nominal penalty.

Monthly minimum balance in the account earns compound interest every quarter.

No tax is deducted from the interest on the deposit.

Loans up to maximum of 95% of the deposit amount available depending on the length of the unexpired period of the deposit.

Nomination facility available.

The rates of interest are as fixed by the Bank from time to time.


Syndicate bank RD account interest rate

Hii sir, I wanted to know about the syndicate bank Requiring deposit Scheme please give me the details of it ?

[sumit]

As you asking for the Syndicaite bank Requiring Deposit Scheme the details of the post are given below :
The bank offers a standard RD scheme that comes with appealing features and rates. The scheme is open to salaried class, professionals, entrepreneurs etc. looking to mobilise savings over a period of time. A variety of loans can be drawn against the deposit money in the RD account, which makes Syndicate, one of the few institutions to offer this facility.


Features and Benefits of Syndicate Bank Recurring Deposit

Monthly deposit amount starts at just Rs.100 with no upper limit. Increase in denomination should be made in multiples of Rs.10.
The term of deposit starts at 12 months with an upper cap of 10 years. This range provides enough space for the depositor to choose a term that suits their investment needs.
Interest charges are calculated on a quarterly basis credited to the account based on the agreed rates.
No tax is deducted (TDS) on the interest charges earned in the RD account.
Option to avail loan for up to 95% of deposit amount under the RD scheme, is available. The loan availability is dependent on the unexpired period of the deposit term


Interest Rates Offered on Syndicate Bank’s Recurring Deposit

For all deposits below Rs.1 crore, the interest rate is 7% that can go up to 8.50% depending on the period of investment. Refer to the rate card available on the bank’s portal before choosing the right term in order to ensure the best returns for your investment.

Resident senior citizens are eligible for an additional 0.50% interest on the prevailing rates.
Current and former employees of the bank are eligible for an additional 1% on the existing rate. There is no cap on the amount for this category of depositors.