Syndicate Bank Cuts Savings Account Interest Rate by 0.5%

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.