Go Back   2020 2021 Student Forum > Management Forum > Main Forum

Old 17th December 2015, 03:24 PM
Super Moderator
Join Date: May 2012
Default Re: What is the minimum balance in Syndicate Bank

As you want to get the details of minimum balance required for Savings Account in Syndicate Bank so here is the information of the same for you:

Minimum balance required for Savings Account in Syndicate Bank is Rs 1000/=

These accounts can be opened by eligible person/s and certain organisations / agencies (as approved by the Reserve Bank of India (RBI)

The Bank requires a satisfactory introduction of the person/s opening the account by a person acceptable to the Bank.

The Bank is required to obtain two recent photographs of the person/s opening the account, as per RBI directives.

The account holder is required to maintain certain minimum balance in the account, as specified by the Bank from time to time.

Interest is presently paid on half yearly basis , calculated on a daily product basis, with a minimum of Rs.1/-.

Cheques, dividend warrants drawn in the name of account holder/s will only be collected through this account. Instruments endorsed in favour of the account holder/s will not be collected through savings bank account.

Business transactions shall not be routed through Savings Bank Account. If routed, the Bank will recover the interest paid and may also close the account.

Application Form of Savings Account in Syndicate Bank:

Contact Details:

Syndicate Bank
Naya Bazar,
Rajasthan 305001

Reply With Quote Quick reply to this message
Old 4th December 2019, 08:28 AM
Default Re: What is the minimum balance in Syndicate Bank

Can you tell me what is the minimum balance required to open SyndSamanya Savings Bank Account in Syndicate Bank as I want to open an Account?
Reply With Quote Quick reply to this message
Old 4th December 2019, 08:29 AM
Super Moderator
Join Date: Oct 2019
Default Re: What is the minimum balance in Syndicate Bank

Syndicate Bank is a nationalised bank with its headquarters in Manipal, Karnataka. It has also launched savings accounts with a number of benefits and privileges to incentivise people to save their money. They have several schemes that are specially designed to cater to the needs of their diverse customer base.

SyndSamanya Savings Bank Account Features:

This account can only be opened from CBS or non-CBS branches.

Any individual can open it

There is no requirement of maintaining any balance in this account because this is a zero balance account

The account earns an annual rate of interest of 4%

There is no limit on the number of credit or cash receipts made on the account

Cash withdrawals are limited if done through the branch. The limit is 50 transactions every year on the branch counter. If this number is exceeded, a charge of Rs.10 per transaction is levied on the account. However, if the withdrawal is done through an ATM, there is no limit on the number of withdrawal transactions.

If one wants a cheque book with the account then one has to maintain a minimum balance in the account which would depend on the requirement of minimum balance. If the cheque book is not required then the account does not require the maintenance of any balance.

The collection charges for locally drawn cheques are nil but for outstation cheques there is a limit. If the cumulative value of outstation cheques is up to Rs.50, 000 in a year, there would be no charges levied. If the cumulative value exceeds Rs.50, 000 then normal applicable charges would be levied.

Eligibility Criteria:

Hindu Undivided Families
Individuals above the age of 18
Trusts, associations, clubs
Minors (joint account with a parent/ guardian). Minors will be able to operate the account on attaining maturity.
The account can be held singly or they can be joint accounts. In case of minors, accounts have to be held jointly with a parent/guardian.

Documents required to open Account
Passport sized photographs
Proof of identity
Proof of address/residence
Reply With Quote Quick reply to this message

Quick Reply
Your Username: Click here to log in


Thread Tools Search this Thread

All times are GMT +5. The time now is 02:35 PM.

Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2020, vBulletin Solutions Inc.
SEO by vBSEO 3.6.0 PL2

1 2 3