• Overview of Catholic Syrian Bank Fixed Deposit

    Catholic Syrian Bank is a private sector bank headquartered in Thrissur, Kerala. It was founded on 26 November, 1920. The bank has special schemes that cater to diverse credit needs of small scale industries road transport operators, agriculturists and other self employed entrepreneurs. The bank has over 431 branches and 233 ATMs all across India.

    Catholic Syrian Bank Fixed Deposits

    Catholic Syrian Bank offers fixed deposits at good interest rates. These deposits offer guaranteed fixed returns which makes it the perfect saving instrument that allows you to earn on your idle savings. It does not require high initial investment and depositors can invest in short term or long term deposits depending on their financial need and ability.

    What is the eligibility criteria to avail Catholic Syrian Bank Fixed Deposit?

    Any salaried individual, Hindu Unified Families (HUFs), Corporates, firms and NRI’s can also apply for certain FD schemes. In case of minors, guardians can apply for the fixed deposits.

    What are the FD schemes offered by Catholic Syrian Bank?

    Catholic Syrian Bank offers fixed deposits with different tenures with different interest rates to suit the financial needs of its customers. It provides short term, medium term and long term deposits. It offers tax saver deposits and deposits for NRIs too.

    What is the minimum amount required to open an FD account with Catholic Syrian Bank?

    The minimum amount required to open an FD account with the Catholic Syrian Bank is Rs.100, The account can be opened in odd sums.

    What is the maximum amount that can be deposited in an Catholic Syria Bank FD account?

    The maximum amount that can be deposited in an Catholic Syrian Bank FD account is Rs.5 crore.

    What is the minimum and maximum period for which funds can be held in as fixed deposits with Catholic Syrian Bank?

    Catholic Syrian Bank offers fixed deposits with term ranging from 7 days to10 years. 7 days being the minimum period for which the fund can be held in the account and 10 years being the maximum. It offers short term, medium term and long term deposits. The bank accepts deposits starting at Rs.0 for certain tenures.

    What is the procedure to open an fixed deposit account at Catholic Syrian Bank?

    The procedure to open an fixed deposit account with Catholic Syrian Bank is hassle free. The application to apply for the fixed deposit from the bank can be availed online or at any of the branches of the bank. After the application is filled, one has to submit the required documents to further the process.

    What are the documents required to apply for the fixed deposits offered by Catholic Syrian Bank?

    Listed below are some of the important documents required to open an FD account with Catholic Syrian Bank.

    • Passport
    • PAN card
    • Bank statement with cheque
    • KYC documents( Not required if the applicant already has an account with the bank)
    What are the interest rates offered on Catholic Syrian Bank fixed deposits?

    The lowest interest rate offered for Fixed Deposits is 5.00% for a term deposit starting from 7 days and the highest interest rate offered is 8.60% for a term of 10 years. Interest is paid quarterly or at longer rests at full value of interest. The same is paid monthly at the discounted value of interest.

    Does Catholic Syrian Bank offer tax saver fixed deposits?

    Yes, Catholic Syrian Bank offers tax saver fixed deposits in the form of Tax Saving Fixed Deposit Scheme which offers tax benefits under section 80C of the Income Tax Act.

    What are the main features of Catholic Syrian Bank fixed deposit schemes?

    One of the key feature of the fixed deposit accounts offered by Catholic Syrian Bank is that one can open an FD account with very minimal amount as initial investment. It also offers fixed deposits for long tenures of 10 years.

    Does Catholic Syrian Bank offer senior citizens special rates on their fixed deposits?

    Catholic Syrian Bank offers a higher rate of interest for the senior citizens on fixed deposits.

    Are loans provided against FDs at Catholic Syrian Bank?

    Catholic Syrian Bank offers loans up to 0% against its own fixed deposit. The applicable rate of interest for the loan ranges between 0.5% to 2% over the fixed deposit rate.

    Does Catholic Syrian Bank allow Premature withdrawal of fixed deposits?

    Yes, Premature withdrawal is allowed in fixed deposits offered by Catholic Syrian Bank.

    Can NRIs open a fixed deposit account with Catholic Syrian Bank?

    Yes, Catholic Syrian Bank provides two types of accounts for the NRIs, NRO(Non Resident Ordinary) account and NRE (Non Resident External) account for fixed deposits. The interest rates offered for NRI fixed deposits varies. Joint accounts are permitted and premature withdrawal is allowed.

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    CBS FD Reviews

    • review Fixed Deposit
      "One of the best bank!!!"
      0.5 5.0/5 "Blown Away!"
      Two months ago I closed this fixed deposit with Catholic Syrian bank because I took home loan with different bank. Interest rate is of 10.25% for staff and it is of compounding in quarterly basis. We have completed several years in market and this is oldest bank where most reliable bank. 1% is of penalty will be charged if we close in between the tenor.
      Was this review helpful? 9
      , mumbai
      Reviewed on Apr 17, 2015
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