Punjab and Sindh Bank has recently changed the interest rates of fixed deposits and savings accounts. The highest interest is available on fixed deposits of 444 days, the rates are 7.40 percent.
Bank FD: Both fixed deposit and savings account are considered safe and better options for investment. Despite no change in the repo rate, FD interest rates have been revised in many banks. Public Sector Bank “Punjab And Sindh Bank has made a big change in the interest rates of both savings account and FD. Let us know how much return customers will get now-
New FD rates
Punjab and Sindh Bank has changed the interest on FD less than Rs 2 crore. The highest interest is available on fixed deposits of 444 days, the rates are 7.40 percent. Talking about long term deposits, 6.25 percent interest is available on FDs of 5 years to 10 years, 6 percent interest on FDs of 3 years to 5 years and 6.50 percent interest on FDs of 2 years to 3 years. Less than 6 percent interest is being given on fixed deposits with tenure of less than one year. 2.80% on FD of 7 days to 30 days, 3% on FD of 31 to 45 days, 4.60% on FD of 46 to 90 days, 4.75% on FD of 91 days to 179 days, 334 days to less than a year The bank is offering 5.50 percent interest on FD, 6.40 percent on one year FD, 7.10 percent on 400 days FD and 6.20 percent on FD of 401 days to 443 days.
Savings account interest rates
The bank has changed the interest rates on deposits of Rs 1 crore and above. Interest is available at 2.70% on amounts up to Rs 1 crore, 2.90% on amounts above Rs 1 crore, 4.55% on amounts between Rs 100 crore to Rs 500 crore and 5% on amounts above Rs 500 crore.
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