Syndicate Bank in India is planning to launch
e-Term Deposit – a product to enable customers to transfer balance
online from a savings account to a fixed deposit.
Syndicate Bank customers will need an internet
banking registration to be able to use e-Term Deposit. The
online product, which is due to be launched by the end of
September, is in line with the “slew of new customer-friendly
products” that Syndicate Bank plans to offer, according to the
lender’s executive director, Anjaneya Prasad.
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Syndicate Bank also plans to launch a gold debit
card that will allow customers to withdraw up to INR100,000
($1,886) from an ATM, while currently the upper limit on the debit
cards is INR15,000.
Syndicate Bank is also planning to open e-lounge
branches with 24-hour self-operating units – starting with
Bangalore.
Currently Syndicate Bank has 2,707 branches and
1,240 ATMs across India. The lender plans to reach a network of
3,000 branches and 1,800 ATMs by March 2013.
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