Syndicate Bank FD Calculator
Syndicate Bank Domestic Term Deposits Interest Rates: Below Rs.2 Crore - General Public
| Tenure bracket | Regular FD rates (per annum) |
| 7 days to 45 days | 2.95% |
| 46 days to 90 days | 3.90% |
| 91 days to 179 days | 4.00% |
| 180 days to less than 1 year | 4.45% |
| 1 year only | 5.20% |
| Above 1 year to less than 2 years | 5.20% |
| Above 2 years to less than 3 years | 5.40% |
| Above 3 years to 10 years | 5.50% |
Note: The FD interest rates are effective as of 10 July 2021
Syndicate Bank Domestic Term Deposits Interest Rates: Below Rs.2 Crore - Senior Citizens
| Tenure bracket | Senior Citizens FD rates (per annum) |
| 7 days to 45 days | 2.95% |
| 46 days to 90 days | 3.90% |
| 91 days to 179 days | 4.00% |
| 180 days to less than 1 year | 4.95% |
| 1 year only | 5.70% |
| Above 1 year to less than 2 years | 5.70% |
| Above 2 years to less than 3 years | 5.90% |
| Above 3 years to 10 years | 6.00% |
Note: The FD interest rates are effective as of 10 July 2021
For Domestic Deposits - Rs. 2 Cr to less than Rs. 10 Cr
| Period of Deposit | Callable (%) | Non-Callable (%) |
| 7 days to 45 days | 2.90% | NA |
| 46 days to 90 days | 3.10% | 3.10% |
| 91 days to 179 days | 3.25% | 3.25% |
| 180 days to less than one year | 3.25% | 3.25% |
| 1 year | 3.65% | 3.65% |
| Above than 1 year to less than 2 years | 3.65% | 3.65% |
| 2 years and above to less than 3 years | 3.65% | 3.65% |
| 3 years and above to less than 5 years | 3.40% | 3.40% |
| 5 years and above to 10 years | 3.40% | No Quote |
Note: The FD interest rates are effective as of 9 August 2021
For NRE Fixed Deposit - Less than Rs. 2 cr
| MATURITY PERIOD | DEPOSIT AMOUNT | INTEREST RATE (% p.a.) |
| 1 year | Less than Rs. 2cr | 5.00% |
| Above than 1 year to less than 2 years | Less than Rs. 2cr | 5.00% |
| 2 years and above to less than 3 years | Less than Rs. 2cr | 5.10% |
| 3 years and above to less than 5 years | Less than Rs. 2cr | 5.25% |
| Unique 111 days | Less than Rs. 2cr | 5.35% |
| 5 years and above to 10 years | Less than Rs. 2cr | 5.25% |
Note: The FD interest rates are effective as of 17 January 2022
For NRE Fixed Deposit - Rs. 2 cr to Less than Rs. 10 Cr
| MATURITY PERIOD | DEPOSIT AMOUNT | INTEREST RATE (% p.a.) |
| 1 year | Rs. 2 cr to Rs. 10 cr | 3.65% |
| Above than 1 year to less than 2 years | Rs. 2 cr to Rs. 10 cr | 3.65% |
| 2 years and above to less than 3 years | Rs. 2 cr to Rs. 10 cr | 3.65% |
| 3 years and above to less than 5 years | Rs. 2 cr to Rs. 10 cr | 3.40% |
| 5 years and above to 10 years | Rs. 2 cr to Rs. 10 cr | 3.40% |
Note: The FD interest rates are effective as of 08 August 2021
Syndicate Bank FCNR (B) Term Deposit Rates
| Duration | AUD (% p.a.) | CAD (% p.a.) | EUR (% p.a.) | GBP (% p.a.) | USD (% p.a.) |
| Above 1 year and below 2 years | 0.53 | 0.98 | NA | 0.57 | 0.85 |
| Above 2 years and below 3 years | 0.69 | 1.24 | NA | 0.77 | 0.99 |
| Above 3 years and below 4 years | 0.9 | 1.49 | 0.02 | 0.91 | 1.22 |
| Above 4 years and below 5 years | 1.13 | 1.71 | 0.09 | 1.02 | 1.44 |
| 5 years | 1.34 | 1.86 | 0.16 | 1.1 | 1.6 |
Note: The FD interest rates are effective as of 10 July 2021
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Syndicate Bank FD Calculator
Syndicate Bank, nationalised in 1969, is a notable commercial bank in India with 4103 branches all across India. Headquartered in Karnataka, this bank is known to contribute to India’s economic development by sponsoring several rural banks.
With Syndicate Bank fixed deposit schemes you can grow your savings and earn attractive interest by investing your money for a fixed tenure. However, this bank merged with Canara Bank in 2020. So, the FD rates applied to Syndicate Bank fixed deposits will be the same as Canara Bank rates.
You can easily calculate the FD returns with an online FD calculator and choose a suitable scheme as per your financial goal. Here’s more.
Syndicate Bank Fixed Deposit (FD) and FD Calculator
With Syndicate Bank you can start investing in a range of deposit schemes. However, it is always necessary to evaluate the interest returns earned at maturity before investing your money. The interest rate will vary based on the chosen tenure. For instance, interest levied against tenure of 7 to 45 days is 3.25%. This rate increases to 4.50% when you choose a tenure between 46 and 90 days.
Calculating FD returns will help you choose the right tenure so that you can get returns that can align with your financial goals.
However, calculating Syndicate Bank fixed deposit returns is not an easy job when attempted manually. This is because you need to solve a complex mathematical formula. You can end up making mistakes. Moreover, it can be quite a complicated and tedious job.
In such cases, you can take the help of the Upstox Syndicate Bank FD calculator. This online tool helps you determine the FD interests efficiently without any chance of miscalculation.
Scroll down to know its usage and benefits!
How does the Syndicate Bank FD Calculator Function?
Here are the steps to follow while using Syndicate Bank fixed deposit calculator:
1. Feed the “Total Investment” column with your estimated fixed deposit amount
2. Drag the purple line under “Number of years” tab until reaching your preferred investment tenure
3. In the “Interest Rate” field enter the applicable rate of interest in the same way as per the investment tenure
4. Check your result on this same page in a pie chart representation
You can alter the interest rates and investment tenures accordingly. It will help you check different investment scenarios and let you select the feasible investment option as per your financial plans and capability.
Now let’s take a look at the formulas with which the FD interests are calculated. Fixed deposit returns are of two types and they are computed using two formulas. They are as follows:
Compound Interest
A = P (1 + r/n) ^ n*t
Here, ‘A’ denotes the maturity amount. Compound Interest is the total amount you can earn after completing the investment tenure
‘P’ stands for the principal amount. This is your initial investment in a fixed deposit account
‘r’ represents Syndicate Bank fixed deposit rates per annum
‘n’ is the number of times interest gets compounded (it is 12 for monthly, 4 for quarterly, 2 for half-yearly, and 1 for yearly)
‘t’ denotes the total investment period
You can calculate the interest earned by subtracting the principal amount from the maturity amount.
Let’s take an example to interpret the formula in a better way:
Suppose Kunal invests a sum of ₹50,000 for a tenure of 2 years at an interest rate of 6.80% (Interest rate as per the bank’s specifications for the chosen tenure). The maturity amount will be as follows when compounded annually:
A = 50,000 (1 + 6.80%/1) ^ 1*2
So, the maturity amount will be ₹57,219.
Hence, Rahul will earn an interest of (57,219– 50,000) ₹7,219.
Simple Interest
M= P+ (PXRXT/100)
Here, ‘M’ stands for the total amount received at maturity
‘P’ denotes the amount you have invested in a fixed deposit
‘R’ implies the annual rate of interest
‘T’ stands for the tenure of investment
What Are the Advantages of An Online Syndicate Bank FD Calculator?
Besides delivering error-free results, Syndicate Bank fixed deposit calculator offers several other benefits. Here are some of the best advantages of this online tool:
- With this tool, you can compare the interest earned at different tenures based on the accrued interest rate. You can alter the investment period and the ROI to calculate the returns. Finally, you can choose a feasible tenure and deposit amount and make an investment as per your financial plans.
- This tool calculates the total interests earned after a certain tenure within a fraction of a second. So, you can save time on manual calculation. However, you need to enter the necessary data in the appropriate fields.
- The fixed deposit calculator does not charge any cost. Moreover, you don’t need to enter any personal information to use this tool. Such tools are completely free and can be accessed from anywhere.
Syndicate Bank fixed deposit calculator features a user-friendly interface to enhance your experience. All you have to do is to enter the necessary details, check the accrued interest and select a suitable FD scheme.
Frequently Asked Questions
What is the minimum amount I need to deposit for opening an FD account in Syndicate Bank?
You can open FD account at Syndicate Bank by investing as low as ₹1,000 initially.
In how many years has FD doubled in the Syndicate Bank?
There is a general rule to assess the time it might take to double your FD amount in Syndicate Bank. This rule is called the rule of 72 as you need to divide 72 by rate of interest you are earning against a certain tenure. So, let’s assume, you are earning an interest of 6.80%. As per the rule, your FD amount will be doubled in 72/6.80 years, i.e., 10.6 years.
Do we have a premature withdrawal facility on Syndicate Bank FD?
Syndicate Bank does allow premature withdrawal facilities on their fixed deposit schemes. However, they charge a penalty of 1% if the invested amount is less than ₹2 crore and if the amount exceeds ₹2 crore, no penalty is charged.
Does Syndicate Bank provide an auto-renewal facility for fixed deposits?
Yes, you can avail auto-renewal option for fixed deposits in Syndicate Bank after the maturity of a certain tenure.
Are there any special rates for senior citizens?
Syndicate Bank offers an attractive interest rate for senior citizens. Any customer above 60 years of age can avail an additional 0.50% interest on the general rates.
Who are eligible to open a Syndicate Bank FD account?
Any Indian citizens, members of the Hindu Undivided Family, local governing bodies, private limited company employees, etc., can open Syndicate Bank’s fixed deposit.
How can new customers open an FD online?
New customers need to activate bet banking after KYC verification to open fixed deposits online.
What is the lock-in period for Tax Saving scheme?
You can invest in Syndicate Bank Tax Saver Scheme for a minimum lock-in period of 5 years.
Disclaimer:
This calculator is meant to be used for indicative purposes only. It is designed to assist you in determining the appropriate amount of prospective investments. This calculator alone is not sufficient and shouldn’t be used for the development or implementation of any investment strategy. Upstox does not take the responsibility/liability nor does it undertake the authenticity of the figures calculated therein. Upstox makes no warranty about the accuracy of the calculators/reckoners. The examples do not claim to represent the performance of any security or investments. In view of the individual nature of tax consequences, each investor is advised to consult his/her own professional tax advisor before making any investment decisions on the basis of the results provided through the use of this calculator.