Punjab & Sind Bank FD: Are you thinking of investing? Recently the interest rates in Punjab & Sindh Bank on fixed deposits have become more attractive. Not only this, there are also investment opportunities in special fixed deposit schemes.
Punjab & Sind Bank FD: Punjab & Sind Bank revised interest rates on fixed deposits. This state-owned bank has recently revised the interest rate on deposits of less than two crore rupees. According to the bank’s website, the rate is effective from July 1, 2023. It is reported that interest rates ranging from 2.8 to 7.10 percent are available on fixed deposits with this bank from July 1.
According to a news agency source, currently they have special deposits for 601 and 400 days. You can invest in these two special fixed deposits till 30 September 2023.
It is reported that if you invest less than two crore rupees for a period of seven to 30 days, you will get an interest rate of 2.8 percent. 3 percent interest is available on investments for 31 to 45 days. If you do Fixed Deposit for 46 to 90 days you will get 4.6 percent interest rate. 91 to 179 days tenure will attract 4.75 percent interest. Fixed deposits of 180 to 364 days earn 6 percent interest.
6.4 percent interest will be earned on investments for a period of one year to 399 days. 400 days special fixed deposit will fetch 7.1 percent interest rate. Earn 6.4 percent interest on investment for 401 to 554 days. The investment will earn 7.35 percent interest rate for a tenure of 555 days. Fixed deposits for 601 days will earn 7 percent interest. 6.4 percent interest rate for a tenure of 602 days to two years. 6.75 percent interest is available for two years one day to less than three years. The investment will fetch 6.25 percent interest for tenures of three years to ten years.
An additional 0.5 percent interest rate is available with this bank for senior citizens. On the other hand, in case of super senior citizens and non-retirees, this bank is offering a special interest rate of 0.15 percent on certain term deposits. Basically customers will get this higher interest rate for 400, 555 and 601 days tenure.
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