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Syndicate Bank

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

SyndSaral loans are clean demand loans/ mortgage liquid security based loans/ Consumer durable loans for salaried, non-salaried, women, agriculturists and NRIs

• SyndSenior

Bona-fide personal and business credit requirement to be met through demand loan and overdraft facility specially designed for pensioners.

• SyndRent

A loan scheme that can be availed against rent receivable.

• SyndVahan

To avail loans for purchase of a new as well as used two and four wheeler vehicle

• SyndSwarna/SyndSwarnaExpress

Loan against your gold that can be availed for non business and non agricultural purposes.

• SyndNivas

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

Syn Vidya

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 Jewells

• Synd Timber

Corporate Loans

• Working Capital Finance

• Export Credit

• Term Loan Finance

• Project Finance including Infrastructure Projects

• Loan against Future Rent Receivables

Eligibility and Documents for Salaried

Products Documents list Eligibility criteria and locations
Loan Against Property
  1. Valid KYC ID Address and Age Proof
  2. Income Documents
  3. Statement of operative bank accounts for last 6 months
  4. Repayment Track record of existing loans
  5. Details of property proposed to be mortgaged
Available to Salaried / Self-employed Professionals / Self-employed Non-Professionals. Minimum age of the borrower should be 23 years & above and maximum age at loan maturity to be 65 years or retirement age, whichever is earlier. Location for Funding - All over India.
Personal Loan
  1. Valid KYC ID Address and Age Proof
  2. Income Documents
  3. Statement of operative bank accounts for last 6 months
  4. Quotation / proforma invoice of vehicle proposed to be purchased
.Permanent employees of State/ Central Govt / Public Sector / Reputed Private Sector Compa nies/Teachers/ Professors /Pensioner 2.Professionals/Doctors/ Engineers/Lawyer/CAs & other non salaried class etc Location for Funding - All over India
Car Loan
  1. Valid KYC ID Address and Age Proof
  2. Income Documents
  3. Statement of operative bank accounts for last 6 months
  4. Repayment Track record of existing loans
  5. Details of property proposed to be mortgaged
Individuals , Proprietorship, Partnership firms , Agriculturists, Trusts, Societies, other legal entities except HUF, Directors/Employees of the Corporate. Location for Funding - All over India
Education Loan
  1. Duly filled application form
  2. 3 passport size photograph of the Individual Borrower/Partners/Directors
  3. 2 passport size photograph of the Guarantor, if required
  4. Existing Loan Tracks
  5. KYC documents
  6. Copy of Performa Invoice
  7. Financial statement of last 2 years
  8. Trade license or any other regulatory license, if any applicable to unit
  9. Statement of existing Bank account for last 6 months, if any
  10. 1.Copy of Partnership deed /Copy of MOA & AOA or other related documents in case of company/ Partnership firm
Students (Indian National) who have secured admission to a higher education course in recognized Institutions in India or Abroad through Entrance Test/Merit Based Selection process after completion of HSC or equivalent Location for Funding - All over India

Fees and Charges for Salaried

Products Fees and Charges
Loan Against Property 1. Rack Interest Rates: 12.75%
2. Processing fees :as per bank norms
Personal Loan 1. Interest Rates: 14.75%
2. Processing fees :as per bank norms
Car Loan 1. Interest rates 10.65% onwards depending on the car segment
2. Processing fees :as per bank norms
Education Loan 1. Documentation Charges : Waived
2. Processing fees :waived
3. Interest rates: 12.25% for loans up to 4 lacs 12.75% for loans above 4 lacs

FAQs for Salaried

1.What is the quantum of finance for Mortgage Loan?
Ans. • Salaried : 10 times the net annual income. • Non salaried: 10 times the gross annual income. • Clubbing of spouse income backed by IT return. • Maximum amount of Finance: • For Consumption purpose: 100.00 lakhs. • For Business purpose up to 500.00 lakhs
2.What is the Maximum tenure Mortgage Loan?
Ans.The maximum repayment tenure is 120 months depending on the borrower’s category, age, purpose.
3. What is the quantum of finance Car loan ?
Ans.Maximum 10 lacs for studies in India. Maximum 20 lacs for studies in Abroad.
4. What is the Maximum tenure Car loan?
Ans.The maximum repayment tenure is 84 months.
5. What is the quantum of finance Educational Loan?
Ans.Loan up to 60% of the market value of the property can be availed subject to eligibility norms being met.
6. What is the security required Educational Loan?
Ans. • Upto 4 lakhs -No security.-Parents to be joint borrowers. • Above 4 lakhs and upto 7.5 lakhs -Parents as joint borrower and suitable third party guarantee will be taken. • Above 7.5 lakhs-Parents as joint borrower .Tangible collateral security of suitable value acceptable to bank, along with the assignment of future income of the student for payment of Installments.The security can be in the form of land/building /Govt.securities/ Public Sector Bonds/ Units of UTI, NSC, KVP, life policy, gold, and shares/ mutual fund Units/debentures, bank deposit

Eligibility and Documents for Self Employed

Products Documents list Eligibility criteria and locations
Loan Against Property
  1. Valid KYC ID Address and Age Proof
  2. Income Documents
  3. Statement of operative bank accounts for last 6 months
  4. Repayment Track record of existing loans
  5. Details of property proposed to be mortgaged
Available to Salaried / Self-employed Professionals / Self-employed Non-Professionals. Minimum age of the borrower should be 23 years & above and maximum age at loan maturity to be 65 years or retirement age, whichever is earlier Location for Funding - All over India
Personal Loan
  1. Valid KYC ID Address and Age Proof
  2. Income Documents
  3. Statement of operative bank accounts for last 6 months
  4. Quotation / proforma invoice of vehicle proposed to be purchased
.Permanent employees of State/ Central Govt / Public Sector / Reputed Private Sector Compa nies/Teachers/ Professors /Pensioner 2.Professionals/Doctors/ Engineers/Lawyer/CAs & other non salaried class etc Location for Funding - All over India
Car Loan
  1. Valid KYC ID Address and Age Proof
  2. Income Documents
  3. Statement of operative bank accounts for last 6 months
  4. Repayment Track record of existing loans
  5. Details of property proposed to be mortgaged
Individuals , Proprietorship, Partnership firms , Agriculturists, Trusts, Societies, other legal entities except HUF, Directors/Employees of the Corporate. Location for Funding - All over India
Education Loan
  1. Duly filled application form
  2. 3 passport size photograph of the Individual Borrower/Partners/Directors
  3. 2 passport size photograph of the Guarantor, if required
  4. KYC documents
  5. Copy of Performa Invoice
  6. Financial statement of last 2 years
  7. Trade license or any other regulatory license, if any applicable to unit
  8. Statement of existing Bank account for last 6 months, if any
  9. 1.Copy of Partnership deed /Copy of MOA & AOA or other related documents in case of company/ Partnership firm
Students (Indian National) who have secured admission to a higher education course in recognized Institutions in India or Abroad through Entrance Test/Merit Based Selection process after completion of HSC or equivalent Location for Funding - All over India

Fees and Charges for Self Employed

Products Fees and Charges
Loan Against Property 1. Rack Interest Rates: 12.75%
2. Processing fees :as per bank norms
Personal Loan 1. Interest Rates: 14.75%
2. Processing fees :as per bank norms
Car Loan 1. Interest rates 10.65% onwards depending on the car segment
2. Processing fees :as per bank norms
Education Loan 1. Documentation Charges : Waived
2. Processing fees :waived
3. Interest rates: 12.25% for loans up to 4 lacs 12.75% for loans above 4 lacs