1 PSB & 1 Private Sector Bank Revises Savings Account, FD Rates In The 1st Week of September

DCB Bank and Punjab & Sind Bank have made announcements on their interest rate revisions on deposit accounts. DCB Bank revised its interest rates on fixed deposits of less than Rs 2 Cr on 1st September whereas Punjab & Sind Bank made interest rate revisions on savings accounts and fixed deposits on the same day.

DCB Bank FD Rates

The new FD rates are effective as of 1st September as per the official website of the bank.

7 days to 45 days: 3.75%

46 days to 90 days: 4.00%

91 days to less than 6 months: 4.75%

6 months to less than 10 months: 6.25%

10 months to less than 12 months: 6.90%

12 months to less than 12 month 10 days: 7.15%

12 months 10 days: 7.25%

12 months 11 days to less than 18 months 5 days: 7.15%

18 months 6 days to less than 700 days: 7.50%

700 days to less than 25 months: 7.55%

25 months: 7.75%

More than 25 months to less than 37 months: 7.60%

37 months: 7.75%

More than 37 months to less than 61 months: 7.40%

61 months: 7.65%

More than 61 months to 120 months: 7.25%

Note: Senior citizens will get an additional interest rate of 50 bps higher than the standard rates across tenures.

Punjab & Sind Bank Savings Account Rates

Punjab & Sind Bank savings account rates are effective as of 1st September. The new rates are as follows:

On saving bank deposits of up to Rs 1 Cr, the bank is paying an interest rate of 2.70% and on deposits above Rs 1 Crore to upto Rs 100 Crore, customers will get an interest rate of 2.90%. Punjab & Sind Bank is paying an interest rate of 4.55% on a savings account balance of above 100 Crore to upto 500 Crore and 5.00% on a balance of above 500 Crore.

Punjab & Sind Bank FD Rates

Punjab & Sind Bank interest rates on fixed deposits of less than Rs 2 Cr are effective as of 1st September.

7 - 14 Days: 2.80

15 - 30 Days: 2.80

31 - 45 Days: 3.00

46 - 90 Days: 4.60

91 - 120 Days: 4.75

121-150 Days: 4.75

151 - 179 Days: 4.75

180 - 269 Days: 5.50

270 - 332 Days: 5.50

333 Days: 6.50

334 Days - 1 Year: 5.50

1 Year: 6.40

1 Year - 399 Days: 6.20

400 Days: 7.10

401 Days-443Days: 6.20

444 Days: 7.40

445 Days - 554 Days: 6.20

555 Days: 7.35

556 Days - 600 Days: 6.20

601 Days: 7.00

602 Days - 2 Years: 6.20

Above2Years-3Years: 6.50

3Years - 5Years: 6.00

5 Years - 10 Years: 6.25

On term deposits of less than Rs. 2 crore, senior citizens would get an additional interest rate of 0.50% over the aforementioned rates for maturities of 180 days and longer. For a specific period of time, i.e. 333 days, 400 days, 444 days, 555 days, and 601 days, on term deposits of less than Rs. 2 crore, for the maturity of 180 days and above, Super Senior Citizens (80 Years & Above) shall receive the benefit of an additional interest rate of 0.15%.