Fixed Deposit Rates: Public sector lender Punjab and Sind Bank (PSB) has increased its interest rates on fixed deposits of less than ₹2 crore.
The bank is now offering interest ranging from 2.80% to 6.25% on deposits maturing in 7 days to 10 years which is. While the maximum interest rate on fixed deposits maturing in 601 days is 7.25% for general public, 7.75% for senior citizens and 8.10% for very senior citizens. The rate of interest is applicable on all Fixed Deposits under the Capital Gain Account Scheme of 1988, Domestic Term Deposit, NRO Account, Capital Gain Account, Recurring Deposit Plan and PSB Fixed Deposit Tax Saver Plan.
As per the official website of the bank, the latest FD rates are effective from 21/02/2023. On fixed deposits maturing in 7 – 30 days, the bank is offering an interest rate of 2.80% while on FDs maturing in 31 – 45 days, the bank will now offer an interest rate of 3.00%. Punjab and Sind Bank (PSB) will offer an interest rate of 4.75% on deposits of 46-90 days and 5.10% on deposits of 91 days to 179 days.
Know when customers will get interest of more than 8%
Interest rate will now be 6.10% on deposits maturing in 180 days to 364 days, while those maturing in 1 year – 2 years will now get 6.40% interest rate. For deposits maturing in 2 years to more than 3 years, the bank will pay an interest rate of 6.75%. Punjab and Sind Bank (PSB) will now offer an interest rate of 6.25% on deposits of 3 to 10 years. Senior citizens will be given the benefit of additional interest of 0.50% on fixed deposits of less than Rs 2 crore.
Special FD Schemes
Punjab and Sind Bank (PSB) also offers special fixed deposit schemes with different tenures of 300 days, 601 days and 1051 days. On 300 days fixed deposit scheme, Punjab and Sind Bank (PSB) will get an interest rate of 5.25%, senior citizens will get an interest rate of 5.75% and very senior citizens will get an interest rate of 6.10%. On PSB Fabulous Plus 601 Days Fixed Deposit Scheme, regular customers of Punjab and Sind Bank (PSB) will get an interest rate of 7.00%, senior citizens will get an interest rate of 7.50% and super senior citizens will get an interest rate of 7.85%.
