The Catholic Syrian Bank (CSB) is registered as a private sector bank with headquarters based in Thrissur, Kerala. It is one of the oldest operational banks in India. It started its operations in 1920 and initially only serviced the business sector.
Catholic Syrian Bank today has over 400 branches and more than 200 ATM’s across the country. The bank specializes in money market investments and capital market instruments.
CSB also focuses on the rural areas. More than 75% of its customers are economically weak and more than 80% of its branches are in the semi-urban and rural areas.
The Bank offers two types of deposits. One is the regular term deposit with tenors ranging from 7 days to 120 months. The interest rate on the terms deposits is quite low as compared to the other banks.
The Acharya fixed deposit scheme run by the bank offers a higher rate of interest however the shortest tenor starts from 180 days and maximum goes up to 120 months.
Fixed Deposit Interest Rates on Domestic Term, NRO and acharya Deposits:
|Period||Domestic & NRO Deposit Rates|
|Acharya Deposit Rates|
|365 days to 13 Months||7.30||7.80|
|Above 13 Months||7.30||7.80|
NRE Fixed Deposit Interest Rates:
|Maturity Period||Below 1 crore|
|Above 13 months||7.30|
Table Updated: 9 May, 2016