Syndicate Bank Recurring Deposit Rates
Syndicate Bank offers a couple of recurring deposit (RD) schemes designed for salaried and self-employed individuals to build their savings. For deposits less than Rs.5 crore, you can earn an interest of up to 7.15%.
The interest earned depends on the tenure, which ranges from I year to 10 years. Senior citizens can enjoy an additional interest rate of 0.50% on the existing rate. Eligible ex-employees of Syndicate Bank who are senior citizens can enjoy an interest rate of 1.50%.
Syndicate Bank Recurring Deposit Interest Rates
|Tenure||Interest Rates (for deposits less than Rs.5 crore)||Interest Rates for Senior Citizens (for deposits less than Rs.1 crore)|
|1 year to 399 days||6.70%||7.20%|
|401 days to 499 days||6.70%||7.20%|
|501 days to 2 years||6.75%||7.25%|
|2 years to less than 5 years||7.15%||7.65%|
|5 years to 10 years||6.50%||7%|
Types of Syndicate Bank Recurring Deposit Schemes
- Syndicate Bank Recurring Deposit: You can open this account with a minimum deposit of Rs.100 for a period ranging from 1 year to 10 years. You can also take a loan of 95% of the deposited amount with this scheme.
- Synd RD Plus: You can open this account with a minimum amount of Rs.500 for a period ranging from 1 year to 10 years. You also have the facility to deposit more than one instalment in a month. The interest is credited to your RD account on a quarterly basis.
Benefits of Syndicate Bank Recurring Deposit Scheme
- Enjoy an interest rate of up to 7.15%
- Minimal deposit required to open the account
- Additional rates for senior citizens
- Loans against RD facility available
- Nomination facility available
Syndicate Bank Recurring Deposit Interest Calculator
Calculate the interest you can earn on your recurring deposit account by using an online RD interest calculator. The interest will depend on the amount, tenure, and interest rate. Hence, it’s recommended to calculate the interest beforehand so that you can plan your deposits accordingly and earn more in returns over the course of time.
Put your money in Syndicate Bank RD accounts and build your savings considerably. Just a tip: always strive to put in more money and make timely instalments to earn more in returns.
More you need to know about Recurring Deposit
- Compare Interest Rates on RD of Syndicate Bank with Other Banks and Institutions
- Check Features and Schemes of Syndicate Bank Recurring Deposit