Punjab and Sind Bank hikes interest rates on bank term deposits

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Punjab and Sind Bank hikes interest rates on bank deposits
The latest to join the list of banks hiking interest rates on deposits is Punjab and Sind Bank (PSB). The Bank has decided to revise interest rates on domestic and NRE term deposits.

Accordingly, the interest rate for maturity periods 151 days - 179 days, 180 days - 269 days term deposits has been increased from 8.00 per cent to 8.25 per cent per annum.

The interest for maturity period from 1 year to 2 years is being increased by 25 basis points from 8.75 per cent to 9.00 per cent.

The Bank shall be paying 9.25 per cent for term deposits of 500 Days against 9.00 per cent. Similarly, interest rate w,e.f. July 29, 2013 for NRE term deposits has also been revised.

The interest rate for maturity period from 1 year to 2 years has been increased by 25 basis points from 8.75 per cent to 9.00 per cent per annum.

GoodReturns.in

Read more about: psb, term deposits
Story first published: Saturday, July 27, 2013, 10:50 [IST]
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