The Catholic Syrian Bank has a pan-India presence with close to 450 branches and more than 200 ATMs spread through the country.
Catholic Syrian Bank fixed deposit rates are among the most competitive in the industry. The bank provides deposits under various schemes such as fixed deposits, tax saving deposits, Acharya deposits for senior citizens etc. The interest rates given in the table above are indicative of the current rates offered rates by the bank. The table captures all rates on a real-time basis making it easy for users to compare and choose the best fixed deposit scheme the bank has to offer.
The short term deposit rates vary between 5.00% to 7.15% p.a. For the shortest brackets of 7 – 14 days and 15 – 29 days term deposits, the lowest interest of 5.00% is applicable, which increases sharply by 1.65 percentage points to 6.65% for the next deposit slab of 30 days to 90 days. Customers can avail the best rate of 7.15% for their short term deposits of 180 - 364 days tenure. The average yield from deposits in this slab is 7.15%, which is among the best short term rates in the fixed deposit segment.
For longer duration fixed deposits exceeding tenure of 365 days and till 399 days, a uniform rate of interest of 7.60% p.a. is applicable. However, customers can also opt for the fixed tenure FD of 400 days, which gives the highest interest rate of 7.75% compared to all product offerings from Catholic Syrian Bank. For the period exciding 401 days up to 10 years offers steady interest rate of 7.60%.
Senior citizens receive preferential rates on their fixed deposits. Senior citizen schemes fall under Acharya Deposit, with interest rates ranging from 7.65% to 8.25%. For the shortest slab of 180 days to 364 days, customers receive 7.65% rate of interest, which increases significantly to 8.10% for the next slab of 365 days to 399 days.
The highest interest rate of 8.25% is applicable on the 400 days fixed duration deposit scheme. Customers can expect a yield of 8.82% on this deposit scheme. For all tenures on 401 days and up to 24 months, a uniform interest rate of 8.10% is applicable.
The Catholic Syrian Bank fixed deposit schemes are a good choice if high returns and reliability of the deposit are issues that concern you. Senior citizens arguably get the best interest rates on term deposits from this bank.*All interest rates are given in per annum and are subject to change.
Post the budget announcement on March 1, fixed deposit rates of Catholic Syrian Banks have undergone changes the very next day. The following changes have taken place considering the tenures and the rates.
For deposits of less than INR 1 crore, tenures of 7 days to 29 days have an interest rate of 5% per annum. From 30 days to 90 days, the interest rate becomes 6.65% per annum and there’s a 0.25% increase for the tenure of 91 days to 179 days. For 180 days to 364 days, the interest rate becomes 7% per annum. The earlier rate of 7.3% per annum for tenures of 365 days to less than 13 months has been amped up to 7.5% per annum. A 400-day tenure has an interest rate of 7.6% per annum and that is the current highest rate of interest on offer.
3rd March 2016
The offer of lowering rates initiated by the Reserve Bank of India has kept its sway on many banks’ base rates, effectively benefitting loans and other credit facilities, and also reducing the fixed deposit rates or at least changing the tenure categorisation in many banks. Catholic Syrian Bank has also seen its fair share of rate changes in the month of February 2016.
For a minimum deposit amount of INR 5 lakhs, fixed deposits in CSB will be earning interest at a rate of 5% per annum for a tenure of 7 to 14 days and also for a tenure of 15 to 29 days. The rate increases to 6.65% per annum for a tenure of 6.65% per annum for the next deposit block of 30 days to 90 days. From 91 days to 179 days, the effective ROI is 6.9% per annum and from 180 days to 364 days it has now changed to 7% per annum from the earlier 7.15% per annum. The rate of interest that was fixed at 7.6% per annum for tenures of 1 year to 399 days has also been reduced to 7.50% per annum while the 400 days’ tenure that had an interest rate of 7.75% per annum saw a reduction to 7.60% per annum. For 401 days to 10 years, the interest rate offered is now 7.5% per annum.
9th February 2016
As per the directive issued by Reserve Bank of India, Catholic Syrian Bank had reduced the interest rates charged on many of its credit instruments. Catholic Syrian Bank fixed deposit rates are among the most competitive in the industry. The bank provides deposits under various schemes such as fixed deposits, tax saving deposits, Acharya deposits for senior citizens etc.
The rate of interest across different slabs have been slashed. For deposits of duration 180 to 364 days has been reduced by 0.10% from 7.25% to 7.15%.From 365 to 399 days, the increased rate is cut by a fraction of 0.20% and becomes 7.60% from 7.80%. The interest rate decreases by 0.25% for the next time slab of 400 days at 7.75% from the previous rate of 8%. The earlier interest rate of 7.8% for the period of 401 days to and including 120 months has been cut by 0.20% and is now 7.6%.
24th November 2015
Catholic Syrian Bank has conformed to the directive of the Reserve Bank of India and has reduced the interest rates charged on many of its credit instruments. Along with that, has also come the reduction of interest rates offered on deposits. While savings bank accounts haven’t been as seriously affected, fixed deposits have seen the sticky end of the situation repeatedly.
As of November 2015, the lowest interest rate offered by Catholic Syrian Bank is at 5% per annum for deposit periods ranging from 7 days to 29 days. The interest rate increases by 2% for the next time slab of 30 to 90 days. For deposits of durations 91 to 179 days, an interest rate of 7.25% per annum is applicable. A fractional increase in the rates allow for a subsequent interest rate of 7.5% per annum for deposit tenure 180 to 364 days. From 365 days to 399 days, the interest rate is increased by another fraction of 0.40% and becomes 7.9% per annum. The maximum interest rate is now available at 8.1% per annum for a deposit tenure of 8.1% per annum.
11th November 2015
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