Syndicate Bank FD Calculator

Syndicate Bank FD Calculator is an online tool available at the Syndicate bank's website. The online calculator helps the depositor understand and compute details of the interest rate and the returns of the fixed deposit scheme.

The Syndicate Bank FD Calculator provides interest rates for varying periods. The investor can choose to deposit funds for a short period, such as one week, one month, or deposit his capital for a longer time horizon depending on his financial goal. The Syndicate Bank FD Calculator also provides insights to the investor in asset allocation. It enables the depositor to determine the percentage of capital that needs to be allocated in a fixed deposit scheme.

How Can Syndicate Bank Fixed Deposit Calculator Help?

The investors can use the Syndicate Bank FD Calculator at their disposal to compute the returns for a given timeframe. The Syndicate Bank offers a range of investor-friendly fixed deposit schemes. The fixed deposit scheme is open to all and across all sections of society. The Syndicate Bank provides FD schemes for both domestic investors and NRIs. The bank also provides varying interest rates for juniors and minors to encourage investment at an early age. The scheme also covers guardians of young children and senior citizens who are above sixty years of age.

The Syndicate Bank FD Calculator can be used by corporate entities such as business enterprises to invest their surplus cash and generate decent returns. The Syndicate Bank FD Calculator can also be used by joint account holders such as a married couple or a HUF to estimate returns and analyze tax benefits for the schemes. The Syndicate Bank FD Interest rates Calculator determines the interest rate based on the investor's age, tax slab, and the term chosen for the maturity period of the deposit.

The investors can deposit an amount as small as Rs.1000 to benefit from the scheme. The Syndicate Bank FD Interest rates Calculator provides varying returns for more considerable sums and senior citizens. The minimum monthly average balance varies from zone to zone. The branches in rural areas are set lower limits to encourage lower-income groups to open an account.

How Does a Syndicate Bank FD Calculator Work?

The Syndicate Bank FD Interest rates Calculator considers various factors as per the input given by the depositors. For instance, the calculator considers the age factor for senior citizens and minors to determine the interest rate. The Syndicate bank FD usually provides a higher interest rate for young investors and elderly citizens. The Syndicate Bank FD Interest rates Calculator considers the principal sum for adults between 18 and 60 years.

The bank provides attractive rates for NRI investors and domestic entrepreneurs. The depositors need to understand that longer-duration deposits yield returns that are more significant. The Syndicate Bank FD Interest rates Calculator is effective in preparing and planning one’s financial goals. The Syndicate Bank FD Interest rates Calculator is tabulated below:

Interest rates for Local Fixed Deposits less than Rs 2 Crore w.e.f. 08/02/2021 (in % pa)

Period

Rate of interest percentage  per annum for the general public

Annualized Interest yield percentage per annum for the general public

Rate of interest percentage  per annum for senior citizen

 

Annualized Interest yield percentage per annum for senior citizen

Seven days to 45 days

2.95

2.98

2.95

2.98

46 days to 90 days

3.90

3.96

3.90

3.96

91 days to 179 days

4.00

4.06

4.00

4.06

180 days to less than 1 Year

4.45

4.52

4.95

5.03

One year only

5.20

5.30

5.70

5.82

one year and upwards to less than two years

5.20

5.30

5.70

5.82

Two years and upwards  but not exceeding three years

5.40

5.51

5.90

6.03

Three years and upwards but not exceeding five years

5.50

5.61

6.00

6.14

Five years & above to 10 Years

5.50

5.61

6.00

6.14

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Interest rates for Domestic bulk term Fixed Deposits greater than Rs 2 Crore w.e.f. 08/02/2021 (in % pa)

Period

Rate of interest percentage  per annum for callable

Annualized Interest yield percentage per annum for callable

Rate of interest percentage  per annum for non-callable double plus

Annualized Interest yield percentage per annum for non-callable double plus

Seven days to 45 days

2.95

2.98

2.95

2.98

46 days to 90 days

3.90

3.96

3.90

3.96

91 days to 179 days

4.00

4.06

4.00

4.06

180 days to less than 1 Year

4.45

4.52

4.95

5.03

One year only

5.20

5.30

5.70

5.82

one year and upwards to less than two years

5.20

5.30

5.70

5.82

Starting from 2 years but not exceeding three years

5.40

5.51

5.90

6.03

commences from 3 years but not exceeding five years

5.50

5.61

6.00

6.14

Five years & above to 10 Years

5.50

5.61

6.00

6.14

FD interest have fallen consistently over the last 5 years.
Invest in Plans that offer Guaranteed Returns for over 25 Years
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Interest rates for NRI Fixed Deposits greater than Rs 2 Crore and less than Rs 2 Crore w.e.f. 08/02/2021 (in % pa)

Period

Rate of Interest per annum (less than 2 Crore)

Annualized

Interest Yield (% per annum) (less than 2 Crore)

Rate of Interest

(% per annum)

(Greater than Rs 2 Crore but less than Rs.10 Crore)

Annualized

Interest Yield (% per annum)

(Greater than Rs 2 Crore but less than Rs 10 Crore)

 

One year only

5.20

5.30

3.90

3.96

Above one year to less than 2 years

5.20

5.30

3.90

3.96

commences from 2 years and upwards to less than 3 years

5.40

5.51

3.90

3.96

commences from 3 years & upwards to less than 5 years

5.50

5.61

3.40

3.44

5 years & above to 10 years

5.50

5.61

3.40

3.44

Important Notice: The Syndicate Bank is getting amalgamated with the Canara Bank.

Simple Interest vs. Compound Interest:

The investor must understand that his wealth grows as his money or the principal amount compounds for a term. The investor can calculate Interest rates using two methods.

  • Simple Interest-A percentage of the principal amount is added to the principal on a defined interval. The Simple Interest is calculated by the formula I=PNR/100 where  I stands for the interest amount, N stands for the number of years, and R stands for the applied rate of interest.
  • Compound Interest- A percentage of the principal amount, which includes the interest previously accrued. The compound interest is calculated using the formula A = P (1+ r/n) ^ n*t where A is the amount on maturity, P is the initial investment; r is the applied rate of interest, n is the number of iterations for compound, and t is the tenure of the FD.

The investor always benefits from the compound interest if the fixed deposit is held for a longer tenure. It is the compound interest factor that grows one’s wealth and enables one to accumulate a huge corpus.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

How to Use Syndicate Bank Fixed Deposit Calculator?

The Syndicate Bank FD Calculator is designed in an investor-friendly way such that even novice investors can utilize the online tool and produce the desired outcome. The following steps use the Syndicate Bank Fixed Deposit Calculator.

  • The user needs to log in to the insurer online domain and select FD Calculator.
  • Enter the amount to be deposited.
  • Provide parameters such as investment tenure, type of deposit, monthly payout, etc.
  • Click ‘Calculate’ to display the desired result.

Advantages of Using Syndicate Bank FD Calculator:

The Syndicate Bank FD Interest rate Calculator provides efficient and faster means to calculate and discern one’s investment ideas. Some of the advantages of the Syndicate Bank FD Calculator are as follows.

  • It provides the desired output by the updated interest rates.
  • It reduces paperwork and reduces the manual effort involved in the calculation, minimizing human error.
  • It is straightforward to use with fewer complex features.
  • It reduces the need to visit the bank for clarification.
  • It eliminates the need to stand in long queues to meet the bank representatives.
  • The FD Calculator is available on the Syndicate Bank's website 24*7, and the investor can access it anytime and anywhere.
  • The online calculator also considers tax deductions by the income of the depositor.
  • Investors can also compute returns with tax deductions in mind and plan their portfolio accordingly.

FAQs

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer. 

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.

**Tax benefit is subject to changes in tax laws. Standard T&C apply.

***Due to amalgamation with Canara Bank, the FD rate tables are the same

Written By: PolicyBazaar - Updated: 24 June 2021
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