Syndicate Bank has launched a new deposit scheme ‘Synd Disha’, with a tenor of 444 days and carrying an interest rate of 9.25%. The bank will announce its formal launch on February 06, 2014.
The scheme, Synd Disha, is mainly targeted at pensioners and middle-range investors Senior citizens will be offered 9.75% interest under the scheme, in which an amount less than Rs 10 crore can be deposited.
The deposit is applicable to all domestic investors, NRE and NRO investors and through this scheme will be open for a limited period and the bank hopes to mobilize Rs 10,000 crore.
