Syndicate Bank today revised upwards its rate of interest on Domestic Term Deposits. The rate of interest for the tenor 1 year to 399 days has been increased to 10.25 per cent per annum as against the earlier rate of 10.05 per cent.
Interest for the tenor of 400 days to 499 days is increased to 10.25 per cent per annum. Interest for the tenor 500 days to less than 2 years to 10.50 per cent per annum and for the tenor 2 years & above to less than 3 years to 9.75 per cent.
Accordingly, interest for Synd 400 Plus Scheme is 10.25 per cent and for Synd 500 Plus Scheme is 10.50 per cent.
The interest rates for the tenor 3 years and above at 9.5 per cent per annum remains unchanged.
Deposits of senior citizens will earn an additional rate of interest of 1 per cent per annum over the card rate with a maximum of 11 per cent per annum, a bank press release said.