Syndicate Bank launches term deposit scheme offering 9.25-9.75%: Media Report
Posted By: Religare
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Syndicate Bank has introduced a new term deposit product christened as " Synddisha" offering 9.25 per cent p.a. (reinvestment plan - interest compounded quarterly) for a special 444-day tenure. The bank will announce its formal launch on Thursday - February 06, reported PTI.
Senior citizens can earn an interest rate of 9.75 per cent for the same. The deposit is applicable to all domestic investors, NRE and NRO investors. This offer is for a limited period only.
During the October-December quarter, the bank expanded its domestic deposits by 13% year-on-year to around Rs 1.70 lakh crore. The share of current and savings account stood at 31 per cent to total deposits at Rs 52,371 crore.