Syndicate Bank cuts Savings Account interest rate by 0.5%
September 28th, 2017
Public sector Syndicate Bank has cut savings account interest rate by 0.50 percent to 3.50 percent for deposits up to Rs 25 lakh. The bank has revised rate of interest on savings bank deposits with effect from October 10 to 3.50 percent from 4 percent existing rate. For the deposits above Rs 25 lakh, the interest rate is unchanged at 4 percent. With this, Syndicate Bank has joined over two-dozen banks, both from the public and private sector, who have cut the interest rate on deposits in various quantum.