Punjab & Sind Bank Revises Interest Rates On Fixed Deposit: Latest Rates Here

Punjab & Sind Bank an Indian public sector bank has revised interest rates on its fixed deposit and savings bank deposits which are in force from 16th September 2021. The term deposit of the bank includes deposits like Recurring, Cumulative, Annuity, Reinvestment deposits, and Cash Certificates. As of now. Punjab & Sind Bank (PSB) allows 5 types of term deposit schemes to its customers i.e. PSB Recurring Deposit Account, PSB Fixed Deposits, PSB Tax Saver, PSB Flexi Savings Deposit Product, and PSB Swasth Bharat Scheme.

A term deposit account at PSB can be opened by individuals, sole proprietors, partnership firms, private and public limited companies, HUFs, specified associates, societies, trusts, Departments of Authority founded and managed by Government (Central or State), Limited Liability Partnership, etc. The most recent interest rates on fixed deposits and savings account of the bank are discussed below which you should have a look at before making an investment decision.

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The following interest rates on domestic term deposits, NRO accounts, capital gain accounts scheme 1988, recurring deposit scheme, and PSB fixed deposit tax-saver scheme are applicable for a minimum deposit of Rs. 1.00 lac and a maximum deposit limit of less than Rs 2 Cr.

Maturity	Regular Interest Rates In % (p.a.)
7 - 14 Days	3.00
15 - 30 Days	3.00
31 - 45 Days	3.00
46 - 90 Days	3.70
91 - 120 Days	3.90
121-150 Days	3.90
151 - 179 Days	3.90
180 - 269 Days	4.45
270 - 364 Days	4.50
1 Year - 2 Years	5.05
Above 2 Year < 3 Years	5.15
3 Years - 5 Years	5.30
> 5 Year - 10 Years	5.30
Source: Bank Website, W.e.f. 16/09/2021

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Senior citizens will continue to get an additional interest rate of 0.50 percent on term deposits of less than Rs. 2 Cr, in addition to the below-stated rates, for deposits maturing in 180 days and above for new as well as renewal term deposits; however, this will not apply to NRE and NRO accounts.

Maturity	Senior Citizen Interest Rates In % (p.a.)
7 - 14 Days	3.00
15 - 30 Days	3.00
31 - 45 Days	3.00
46 - 90 Days	3.70
91 - 120 Days	3.90
121-150 Days	3.90
151 - 179 Days	3.90
180 - 269 Days	4.95
270 - 364 Days	5.00
1 Year - 2 Years	5.55
Above 2 Year < 3 Years	5.65
3 Years - 5 Years	5.80
> 5 Year - 10 Years	5.80
Source: Bank Website, W.e.f. 16/09/2021

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PSB Savings Bank Deposit account can be opened individually or jointly and by HUF, Non-Corporate Bodies, Clubs, Trusts, Societies, Associations, Schools, Executor(s) / Administrator(s), Government Bodies, Semi-Government Departments, Recognized PF Accounts, etc. With effect from 16th September 2021, the bank has also revised interest rates on its savings bank deposit account which are as follows:

Particular	Rate of Interest
Saving Deposits	3.00% p.a.
Source: Bank Website, W.e.f. 16/09/2021