Syndicate Bank, one of the oldest banks in the country, has designed various loan schemes to meet the needs of different categories of people. All the loans are tailor made to suit the credit requirements of various income streams. CreditMantri gives you an overview of various loan schemes offered by Syndicate Bank.
About Syndicate Bank
Syndicate Bank is one of the oldest commercial banks in India. It was founded in Manipal in 1925 by TMA Pai, Upendra Pai and Vaman Kudva. With the 2125 branches, Syndicate Bank has been firmly rooted rural areas across India. It offers products and services like deposit schemes, loans – personal loan, agricultural loan and other priority sector loans, banking facility for NRIs, and e-banking facility.
Personal banking schemes such as SyndSaral, SyndSuvidha, SyndVahan, SyndKisan, SyndMortgage are designed to fulfil the personal credit requirements of various sections of people. It can be used to finance a vehicle, consumer durables or any other genuine credit needs.
The common tenure under personal finance scheme is usually up to 60 months. The bank offers attractive interest rates depending on the credit profile of the customer. The processing charges are lower than the other lenders.
Syndicate Bank offers loans to meritorious students to fund their education in reputed institutions or study in abroad. For loans above INR 4 lakhs, parents need to be the guarantors and no security is required. No processing charges are levied and the bank provides attractive interest rates.
Syndicate Agriculture Loans
Farmers who have a good track record of repayment can avail loans for faming purposes. It could be to purchase machineries, extending irrigation pipelines, fencing, cultivations, etc.
Maximum repayment period under this scheme is up to 7 years and you can avail up to 50 Lakhs. The land proposed to be the collateral for the loan must be valued by the approved surveyor of the bank.
The bank also provides credit cards exclusively for agriculture purpose to meet short-term needs like crop production, repairs to machinery and consumption.
Syndicate Bank SME Loans
Schemes like SyndLaghuUdyami, SyndVyapar, SyndSwarna, SyndPigmy, SyndRent, SyndUdyog are designed to meet the credit needs of entrepreneurs, artisans, traders, Professional & Self-employed, SME Sector, business units, manufacturing units and service entities.
The quantum of the loan depends on the size of the business and requirements. The maximum repayment tenure ranges between 7 to 10 years.
Syndicate Bank Corporate Finance
The bank provides finance to corporate companies for their working capital and other requirements. The distribution of loan is channelized with the division of two segments such as Mid Corporate Segment (up to INR 100 Crore) and Large Corporate Segment (above INR 100 Crore).
Overview of the Syndicate Bank Loans
Focussing on the growth of all sections of the people, Syndicate Bank has devised loans for every purpose. The application process is hassle-free and quick. With the competitive interest rate, the bank offers flexible tenure of repayment.