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New deposit scheme from Syndicate Bank

Syndicate Bank has launched a new deposit scheme with a tenor of 444 days and interest rate of 9.25% per annum. The scheme, Synd Disha, is mainly targeted at pensioners and middle-range investors, said M Anjaneya Prasad, ED of the bank. Senior citizens will be offered 9.75% interest under the scheme, in which an amount less than Rs 10 crore can be deposited. The scheme will be open for a limited period and the bank hopes to mobilise Rs 10,000 crore.

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