Syndicate Bank NRE FD Rates

Syndicate Bank FD for NREs

Syndicate Bank offers exciting schemes in the Fixed deposit category. The investor can deposit a small amount of Rs.1000 and utilize the minimum tenure of seven days. The bank offers long-term investors attractive rates and flexible tenure depending on the maturity amount and investment period.

Syndicate Bank also offers a loan facility wherein the investor can use up to 90% of the deposit to borrow from the Bank. The customer can send and receive money to the account using the features of net banking, RTGS, NEFT, and instant transfer.

The bank also provides several investment schemes for NRIs and NREs and attractive interest rates. Syndicate Bank NRE FD rates are in line with the RBI making it easier for the customers to track and follow the revised rates.

Rates Associated with FD types

Syndicate bank NRI fixed deposit rates vary depending on the amount invested in the scheme.  

1. Domestic Term Deposit Rates (Below Rs. 2 Crores)

   Rates with effect from 1st March 2022:

   Tenure	General Citizens	Senior Citizens
   7 days to 45 days	2.90%	2.90%
   46 days to 90 days	3.90%	3.90%
   91 days to 179 days	3.95%	3.95%
   180 days to less than 1 Year	4.40%	4.90%
   1 year only	5.10%	5.60%
   Above 1 year but less than 2 years	5.15%	5.65%
   Above 2 years but less than 3 years	5.20%	5.70%
   Above 3 years but less than 5 years	5.45%	5.95%
   Above 5 years but less than 10 Years	5.50%	6%

   

2. Domestic Term Deposit Rates (Above Rs. 2 Crores but less than Rs. 10 Crores)

   Tenure	Interest Rates (per annum)
   7 days to 45 days	2.90%
   46 days to 90 days	3.10%
   91 days to 179 days	3.25%
   180 days to less than 1 Year	3.25%
   1 year only	3.65%
   Above 1 year but less than 2 years	3.65%
   Above 2 years but less than 3 years	3.65%
   Above 3 years but less than 5 years	3.40%
   Above 5 years but less than 10 Years	3.40%

3. NRE Term Deposit Rates (Below Rs. 2 Crores)

   Tenure	Interest Rates (per annum)
   1 year only	5.10%
   Above 1 year to less than 2 years	5.15%
   2 years & above to less than 3 years	5.20%
   3 years & above to less than 5 years	5.45%
   5 years & above to 10 years	5.50%

   

4. NRE Term Deposit Rates (Above Rs. 2 Crores but less than Rs. 10 Crores)

   Tenure	Interest Rates (per annum)
   1 year only	3.65%
   Above 1 year to less than 2 years	3.65%
   2 years & above to less than 3 years	3.65%
   3 years & above to less than 5 years	3.40%
   5 years & above to 10 years	3.40%

5. FCNR(B) Foreign Currency Non-Resident Deposits

   Rates with effect from 7th April 2022:

   Currency of Deposit	USD	GBP	EUR	CAD	AUD
   1 Year and above but less than 2 years	1.50%	1.75%	0.01%	0.81%	0.75%
   2 years and above but less than 3 years	1.92%	2.11%	0.01%	1.86%	1.25%
   3 years and above but less than 4 years	2%	2.08%	0.01%	1.96%	1.45%
   4 years and above but less than 5 years	2.11%	2.09%	0.01%	2.01%	1.70%
   Five years only	2.19%	2.06%	0.15%	2.01%	1.85%

6. Residence Foreign Currency (RFC) Deposits

   Rates with effect from 7th April 2022:

   Period of Deposit	USD	GBP	EUR	CAD	AUD
   Savings Bank	NIL	NIL	NIL	NIL	NIL
   1 month & above but less than 3 months	0.12%	0.46%	NIL	0.30%	NIL
   3 months & above but less than 6 months	0.49%	0.85%	NIL	0.84%	NIL
   6 months & above but less than 1 year	1.14%	1.19%	0.03%	1.30%	0.38%
   1 year & above but less than 2 years	1.50%	1.75%	0.01%	0.81%	0.75%
   2 years & above but less than 3 years	1.92%	2.11%	0.01%	1.86%	1.25%
   3 years only	2%	2.08%	0.01%	1.96%	1.45%

About Syndicate Bank Fixed Deposit Interest Rate Calculator

Syndicate Bank Fixed Deposit calculator is an easy-to-use, hassle-free tool that helps in quick calculation of the maturity amount and the interest earned receivable at the end of the policy tenure. By entering some basic details, you can calculate the correct FD amount. Here are the steps that an investor needs to follow to calculate Fixed Deposit rates on the FD Calculator:

• The amount that is invested

• The Rate of Interest offered

• The tenure of the Fixed Deposit Account

• The compounding period, that is, yearly, half-yearly, quarterly, or monthly

• The FD Amount

Once entered the following details, an investor will come to know:

• The maturity value of the FD

• The total interest earned during the complete tenure

Types of FD for NREs

Syndicate Bank is known for lending financial support to Indian investors who reside in foreign countries. The types of FD and the Syndicate Bank NRE FD rates are as follows:

1. Non-Resident Rupee Term Deposits

   • NRE term deposit rates are offered as per the sum deposited.
   • The investor can avail loan using 90% of the amount in FD.
   • The Bank offers an auto-renewal facility after the maturity of the deposit.

2. Foreign Currency Non-resident Deposit

   • Syndicate bank supports foreign currencies such as US dollars, Canadian dollars, Australian dollars, British Pound and Euro.
   • The interest rate varies according to the currency used for the deposit.
   • The investor can deposit the amount for a maximum tenure of 5 years.

3. Resident Foreign Currency Term Deposit

   • Syndicate Bank supports five different foreign currencies, as mentioned earlier.
   • The maximum tenure of the deposit is 3 years, beyond which the investor must withdraw the sum.

Summing It Up

The fixed deposit scheme is the most popular among average investors in both domestic and NRI categories. The investors can opt for this scheme to withdraw the interest rate on a time to time basis depending on their request.

The customers must choose schemes according to their financial goals. The individuals looking to avail of NRI schemes must understand the charges involved like TDS and premature withdrawal charges before choosing any fixed deposit scheme.