NEWS & ADVICE : SAVINGS ACCOUNTS
Interest rate to be paid monthly by Syndicate Bank
By Vaibhav Aggarwal
Nov 1, 2013
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From the next month onwards, Syndicate Bank has decided to pay the interest on a monthly basis. This move will replace the current move of paying the interest on a quarterly basis.

Modalities

Syndicate Bank's, Executive Director, M. Anjaneya Prasad said the bank's administration will meet one week from now to work out the modalities for usage of the month to month premium installment structure."

Investment Rates

The bank does not see any quick scope for decreasing loaning rates, after the RBI cut peripheral standing office by 25 base points and a 25 percent repo rate increase. Interest rates The bank, which enrolled a manageable development of 3-4 for every penny in credit in the first 50% of the financial, anticipates that credit development will spurt in the remaining months. "

Lastly, the London Branch of the bank, helped essentially to the credit development, yet in the not so distant future off-take has been more level there


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