Established in the year 1925, Syndicate Bank had its first office in the coastal

region of Karnataka, Udupi. It was then named as 'Canara Industrial & Banking
Syndicate Ltd'. The bank was initiated by a trio - Sri Upendra Ananth Pai, a
businessman, Sri Vaman Kudva, an engineer and Dr.T M A Pai, a physician, with a
capital of Rs. 8000. During that time, the crisis in the handloom industry
crippled the local weavers completely. The main aim of Syndicate Bank was to
provide financial assistance to them, by mobilizing small savings from the
community.

Three years later, in 1928, the bank came up with Pigmy Deposit Scheme, in which
it collected as little as 2 annas per day, at the doorsteps of the depositors
through its agents. The scheme existing till date, earns the bank a sum of Rs. 2
crore daily. In the same year, Syndicate bank opened its first branch at Brahmavar
in Dakshina Kannada District. It became a member of the Clearing House for the
first time at Bombay, in 1937. Almost a decade later, Syndicate Bank opened 29
branches opened in a single day in rural areas. Its 100th branch opened at Ilkal
in Karnataka in 1957.

The bank with its socio-economic aim was making extensive growth and advancement
and entered Foreign Exchange business by opening Foreign Exchange Department at
Bombay. In 1964, the bank changed its name to 'Syndicate Bank Limited' and the
head office was also shifted from Udupi to Manipal. The bank had then set up an
Economic Research Department, being one of the first few Banks to emphasize on
research in Banking, even before nationalization. In 1971, it opened the first
specialized branch in Foreign Exchange, in Delhi. Five years later, it opened its
first overseas branch opened at London.

In 1984, Syndicate Bank opened its 1000th branch in Hauz Khas, Delhi. In the same
year, it undertook the management of Musandam Exchange Co. in Muscat. Five years
thence, in 1989, Syndicate Bank opened its 1500th branch at Kanakumbi. In 1999, it
raised a capital of Rs. 125 Crore from its more than 4 lakh shareholders. Next
year, in 2000, the bank established its first specialized Capital Market Services,
at Mumbai. In 2003, Syndicate Bank entered into a MOU with Bajaj Allianz, for
distribution of Life Insurance products. In 2004, Syndicate Bank amalgamated with
United India Insurance Co. Ltd. for distribution of Non-Life Insurance products.

In 2004, Syndicate Bank also started utility bill payment services through
Internet banking introduced. In 2005, the bank commenced the online reservation of
railway tickets through Indian Railway Catering & Tourism Corporation Ltd for its
customers. It was during this time that it entered into a MOU with SFAC for
promoting of investments in Agri-business products. The 2000th branch was opened
at Tondiarpet, Chennai, in 2006. In the same year, the bank commenced the first
BPO outfit of a Nationalized Bank, SyndBank Services Limited. This was a wholly
owned subsidiary of Syndicate Bank.

With the age of progressive banking, Syndicate Bank has created a name for itself
in the last 80 years. Rooted in rural India, the Bank has a clear picture of the
grass root realities and a vision of future India. Changing with the changing
times, the Bank has well equipped itself with all the facilities of the new age,
without, however, altering its distinctive socio-economic and cultural culture.
Syndicate Bank's unique principle of mutual development, of both the Bank and the
people, has won it a long list of clientele, which includes both the rural and the
semi-urban class.

Products & Services

Deposits
Loans
Internet Banking
Insurance
Cash Management Services
ATM Services
Recovery Channel
NRI Services
Electronic Funds Transfer (EFT) System
SyndDemat (Depository Participant Services)
Syndicate Gift Cheques

Head Office
SyndicateBank
Head Office
Post Box No.1
Manipal - 576104
(Udupi Dist) Karnataka
India

SyndNivas - Housing Loan Scheme

Details for Product Literature

Purpose
For construction/acquisition of a house/flat or for acquiring a site and building
a house thereon.

For acquiring a new house or existing house not more than 25 years old.

For making extensions/additions to existing house. For NRIs, loan available for
acquisition of house for self-occupation on return to India.

For acquisition of furniture/fixtures including air conditioners, geysers, fridge,

cots, tables, sofas etc which form part of improvements to the home purchased or
constructed out of the Housing Loan.

Eligibility
Self-employed/business class having gainful employment in a profession or business
for a period of minimum period of 5 years.

Individuals not owning a house/flat at the place of work / business / profession

having sufficient and regular income.

NRIs holding Indian passport with adequate repayment capacity.

Applicant should be a major and not more than 55 years of age.

For salaried class, applicant should have completed 5 years of service and the
remaining period of service left shall not be less than 5 years.

Quantum

For Salaried persons : Maximum of 72 months gross salary (including salary of

spouse)

For Others : Maximum of 6 times average annual income based on Income Tax
Assessment Order/IT returns for the past 3 years.

Security
First mortgage of the site/house/flat to be constructed/acquired or as advised by
the Legal Adviser/Law Officer of the Bank.

Hypothecation of furniture & fixtures.

Margin
25% of total project cost for construction/purchase of new flat or house upto 5
years old.

30% for acquiring house which is above 5 years old.

30% of the estimated cost of addition/extension/repairs/renovation.

Processing Charges
Rs.700/- per lac or part thereof with a minimum of Rs.1000/- at present.
(Processing charges are subject to change from time to time)

Repayment

For acquiring a house

Equated monthly instalments with maximum repayment period of 25 years including

repayment holiday of 18 months where eligible.

In case of salaried persons, repayment period shall not extend beyond

superannuation and for others beyond 65 years of age.
For repairs/renovation - Maximum repayment period is 5 to 7 years.

Rates of Interest
Repayment
Period
(Including
Repayment Holiday) Fixed Rate
Upto
Rs. 20 lacs
% Fixed Rate
Above
Rs. 20 lacs
% Floating Rate
Upto
Rs.20 Lacs
% Floating Rate
Above
Rs.20 Lacs and
Upto
Rs.30 Lacs
% Floating Rate
Above
Rs.30 Lacs
%
Upto 5 years 12.00 12.00 BPLR - 4.00 BPLR - 3.25 BPLR - 2.75
Over 5 years and
upto 10 years 13.00 13.00 BPLR - 3.50 BPLR - 2.75 BPLR - 2.25
Over 10 years and
upto 20 years Category abolished Category abolished BPLR - 3.25 BPLR -
2.50 BPLR - 2.00
Over 20 years and
upto 25 years Category abolished Category abolished BPLR - 3.00 BPLR -
2.25 BPLR - 1.75

Other terms and conditions :

BPLR with effect from 17.01.2009 is 12.50%

The above rates are applicable for loans sanctioned/disbursed on or after

17.01.2009

Interest rates are to be compounded monthly

Fresh Fixed Rate Housing Loans should be repaid within a period of 10 years

Reset Clause : Bank has the option to reset the interest rates on Fresh Fixed Rate
Housing Loans sanctioned after anytime after completion of 3 years from the date
of availment.

Surety

A good third party security acceptable to the Bank. The following important
documents are to be submitted along with the application
Proof of income.

Original title deeds of the property with Encumbrance Certificate and agreement
for sale.

Permission for construction with approved plan issued by Competent Authority.

Estimation of construction cost, valuation report in case of purchase of ready

built house/flat.

Any other documents depending upon the individual case.

Syndicate Bank Home Loan provides home loans to an individual for purchasing a new
house or a flat, renovating an already existing flat or house or even furnishing
the house. It provides home loan to employed persons, self-employed persons and
business persons. SyndNivas offers the individual's loans equivalent to the gross
salary for 72 months including that of his or her spouse as the loan to the self-
employed persons.

The housing loan provided by Syndicate Bank is known as SyndNivas. It is offered

to the borrowers who wish to construct a new house or a flat or purchase land for
construction of house. The bank also offers housing loan for purchasing a house
which is less than or equal to 25 years old. The NRIs can avail housing loan in
order to buy a house as an asset. The borrowers can also avail housing loans for
renovation or reconstruction purposes. The housing loan also comprises of expenses
required for purchase of various luxury furniture such as air conditioners,
geysers, cots, fridges, tables, etc.
Important Features of Syndicate Bank Home Loan-
Syndicate Bank offers home loans to self-employed individuals or business persons
or even individuals who are running a business of at least 5 years.
Individuals who have a stable and adequate source of income.
Non-residential Indians who have sufficient cash for repayment and who hold Indian
passport.
The borrower of SyndNivas should not exceed 55 years of age.
The self-employed persons should be on job for a minimum of 5 years for acquiring
home loan of the bank.
The home loan offered by SyndNivas to self-employed persons amount to a maximum of
his or her gross salary for 72 months including that of his or her spouse.
Others get 6 times of the average annual income for the past 3 years depending on
Income Tax Assessment Order or IT returns.
The house or flat or land to be purchased will be kept as a mortgage security as
per the advise of the legal advisor or law officer of the bank.
The repayment duration for loan acquired for renovation purposes is 5-7 years.
Loaning Options of SyndNivas-
25% of the total project cost for purchasing of a new house or flat which is up to
5 years old.
30% for buying a 5 year old house or above that.
30% of the expense to be carried out for renovation purposes of the already
existing house.