Syndicate Bank was incorporated in the year 1925 in Udupi, Karnataka. The bank began its venture with a capital of Rs. 8000/- by three visionaries from three different fields - Shri Upendra Ananth Pai, who was a businessman, Shri Vaman Kudva, who was an engineer and Dr.T M A Pai, who was a physician. The trio not just shared a great bond with each other but also shared the same vision and commitment towards social welfare. The objective of their mission was to extend financial aid to the local weavers initially who were in financial crisis owing to the downfall in the in the hand loom industry by mobilizing small savings from the community. The bank started collecting 2 annas on a daily basis at the doorstep of the depositors through its Agents under a specialized scheme known as Pygmy Deposit Scheme which started in 1928. Even today, Pygmy Deposit Scheme is the Bank's brand equity and the Bank collects around Rs. 2 Crore everyday under the scheme.
The bank has progressed over a period of 80 years of and has created for itself a solid customer base not just in the urban India but also has its roots spread across rural India. Syndicate Bank has a modernized approach in terms of information technology, knowledge and competition which gives its customers a matchless banking experience. The Bank launched Centralized Banking Solution (CBS) through which 500 of the bank’s strategic branches along with their ATMs have been networked nationwide. Syndicate Bank pioneered among Public Sector Banks in launching Centralized Banking Solutions (CBS) making it 100% CBS enabled.
Syndicate Bank – Retail Loan Schemes
• Skill Loan Scheme
Need based loans for for undergoing skilled courses.
SyndSaral loans are clean demand loans/ mortgage liquid security based loans/ Consumer durable loans for salaried, non-salaried, women, agriculturists and NRIs
Bona-fide personal and business credit requirement to be met through demand loan and overdraft facility specially designed for pensioners.
A loan scheme that can be availed against rent receivable.
To avail loans for purchase of a new as well as used two and four wheeler vehicle
Loan against your gold that can be availed for non business and non agricultural purposes.
A loan for resident as well as non resident Indians, and pensioners for purchase of house, plot, purchase a plot for construction of house over it, etc.
• SyndNivas Plus
Personal or business credit scheme for home loan customers with good credit history.
• Education Loan
Education loan for meritorious students for their studies in India and abroad
Synd Super Vidya
Education loans for meritorious students wanting to pursue master degree, technical courses, and one year courses offered in India from primer institutes
Central Scheme to provide interest subsidy for a the period of moratorium on educational loans avalied by students from economically weaker sections from scheduled banks under Model Education Loan Scheme of IBA.
• Solar Water Heating Systems
A loan scheme for purchase of solar water heating system to encourage individuals the use of solar energy.
• SyndVishranti (Reverse Mortgage Loan Scheme of Syndicate Bank)
A loan scheme to meet genuine and regular expenditure for pensioners.
• Synd Mortgage
A term loan and overdraft scheme for genuine business and personal credit needs.
• Synd Kuteer
A housing loan scheme for LIG in rural, urban and metro areas.
• Synd Connect
A loan to meet personal credit needs for permanent employees of the central/ state government, as well as employees of the Fortune 500 organisation
• Synd Delight
To meet the personal credit requirements of housing loan customers
Syndicate Bank Agricultural Loan Products include
• Self Help Group (SHG)
• Joint Liability Group (JLG)
• Synd Kisan Tatkal
• Synd Jai Kisan
• Synd Kisan Swarna (SKS)
• Syndicate Farm House Scheme
• Financing Homestead Farming
• Farm Mechanisation Schemes
• Finance for Hi-tech Agriculture
• Development of Irrigation Infrastructure
• Land Development Schemes
• Purchase of Land for Agricultural Purpose
• Syndicate 2/3/4 Wheelers Scheme
• Animal Husbandry Scheme
• Syndicate Kisan Credit Card (SKCC)
• Other Agricultural Loan Products
• Scheme for Water Harvesting
• Synd Kisan Sathi
• Syndicate General Credit Card (SGCC)
Syndicate Bank Priority Sector Loan Scheme
• Solar Water Heating Systems - A loan scheme applicable only for solar systems financed for industrial units
• Scheme for Financing Rural Tourism
• Synd Solar Jyothi Scheme – A loan scheme applicable only for solar systems financed for industrial units
Syndicate Bank – SME Loans
• PRADHAN MANTRI MUDRA YOJANA (PMMY) – MUDRA.
Syndicate Bank - MSME Loans
• Synd MSE
• Synd Vyapar - Improved Scheme
• Prime Minister's Employment Generation Programme (PMEGP)
• Technology Upgradation Fund Scheme
• Credit Linked Capital Subsidy Scheme (CLCSS)
New loan schemes introduced by Syndicate Bank includes
• Synd Doctor
• Synd Cashew
• Synd Marble
• Synd Textile
• Synd Transport
• Synd Contractor
• Synd MahilaShakthi
• Synd Hotel
• Synd Timber
• Working Capital Finance
• Export Credit
• Term Loan Finance
• Project Finance including Infrastructure Projects
• Loan against Future Rent Receivables