For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Punjab & Sind Bank Revises Interest Rates On Saving Bank Deposits

|

Punjab & Sind Bank (PSB), a public sector lender, has changed its interest rates on saving bank deposits. The new savings bank deposit interest rates are effective from February 1, 2022. Following a recent modification, the bank is now giving a 3.00 percent p.a. interest rate on savings account balances of less than Rs 10 crore. The bank is currently paying an interest rate of 3.20 percent per annum on savings account balances of Rs 10 Crore and above. These rates apply to domestic savings bank deposits, as well as NRE/NRO deposits.

 
Punjab & Sind Bank Revises Interest Rates On Saving Bank Deposits

Punjab & Sind Bank Saving Account Interest Rates

Saving Bank Deposit including NRE/NRORevised Rates w.e.f 01.02.2022 (% p.a)
Below 10 Core3.00% p.a.
10 Core & above3.20%
Source: Bank Website

In the previous month, the bank has also changed its Marginal Cost Based Lending Rate (MCLR). The new rates are effective as of January 16, 2022 according to the bank's official website. According to the bank, the following MCLR rates are w.e.f. January 16, 2022 until the next adjustment.

 
S. NoTenorRate of Interest (%)
1Overnight MCLR6.8
2One Month MCLR (More than overnight upto 1 month)6.9
3Three Month MCLR (More than 1 Month and upto 3 Months)7
4Six Month MCLR (More than 3 Months and upto 6 Months)7.2
5One Year MCLR (More than 6 Months and upto 1 Year)7.45
Source: Bank Website

Story first published: Wednesday, February 2, 2022, 15:54 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X