Syndicate News - Jan 2021
- 2019-10-24 : Revised Deposit rates for Syndicate Bank
Syndicate Bank revised interest charges on fixed deposits. As per the revision, the interest for a period of 7-45 days is 4.50%; for 46-90 days, the rate is 5.50%, the rate for 91 days to 1 year is 5.75%, and for one year the rate is 6.40%. The rate for 1-2 years is 6.60%, and for 2-10 years, the revised FD rate is 6.25%. - 2019-06-06 : Syndicate Bank receives a significant growth in deposits
Private sector lender, Syndicate Bank has received a substantial growth across its deposits this year. The bank has told that most of the business was received from the semi-urban and rural branches as compared to those obtained from the metro and urban bank branches. The bank’s CASA deposits grew from 33.33% to 36.77% as of March 2019 while the retail term deposits have moved up by 66.45% from 56% during the March 2019 quarter. - 2019-01-18 : Syndicate Bank revises interest rate on fixed deposits by 35 basis points
Syndicate Bank has revised the interest rate of fixed deposits on January 15, 2019. The interest rates have been hiked for fixed deposits less than Rs. 1 crore only. Interest rate of fixed deposit with 500 days has been hiked to 7.05% from 6.70 earlier. While the rates for above 500 days to 2 years have been hiked to 6.50% and 7.55% for senior citizens respectively. - 2018-08-08 : Syndicate Bank Q1 loss at Rs 1282 Crore
Syndicate Bank announced Q1 result. It reported a loss of Rs 1282 crores, which is almost 5 times Rs 263 crore loss it had reported in the previous year. This loss is due to higher provisioning, reduction in treasury income and Mark to Market (MTM) depreciation. Net Non Performing Asset (NPA) also worsened to 6.64% from 6.27% in the previous year. - 2018-07-19 : Syndicate Bank revises interest rate on FD
Syndicate Bank has revised its interest rate on retail fixed deposits or FDs below Rs. 1 crore. The interest rate on Syndicate Bank FD with a maturity of one hundred eighty days to less than one year is at 6.35% and senior citizens will get an interest rate of 6.85%. The rates continue to be in the range of 4.75 to 6.80% and that of senior citizen is 5.25% to 7.30%. The new rates are effective from July 11, 2018.
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