Last Update: February 21, 2023, 10:30 IST
The bank will charge interest at the rate of 6.75 per cent on deposits with maturity of more than 2 years but less than 3 years.
Deposits with maturity between 180 and 364 days will now fetch an interest rate of 6.10%.
Public sector lender Punjab and Sind Bank (PSB) has increased its interest rates on fixed deposits of less than Rs 2 crore. The bank currently offers an interest rate of 2.80% on fixed deposits maturing in the next 7 to 30 days, and Punjab and Sind Bank (PSB) also offers an interest rate of 3.00% on deposits maturing in the next 31 to 45 days is offering. Day. The interest rates offered by Punjab and Sind Bank (PSB) are currently 4.75% for deposits maturing in 46 to 90 days and 5.10% for deposits maturing in 91 to 179 days.
Deposits with maturity between 180 and 364 days will now fetch 6.10% interest, while deposits with maturity between 1 to 2 years will now fetch 6.40% interest. The bank will charge interest at the rate of 6.75 per cent on deposits with maturity of more than 2 years but less than 3 years. Moreover, the deposit tenure of 3 to 10 years offers an interest rate of 6.25%.
Domestic term deposits, NRO accounts, capital gains accounts, recurring deposit plans and PSB Fixed Deposit Tax Saver Program are eligible for enhanced rates under the Capital Gains Account Scheme of 1988. The revised interest rates will be applicable from February 21, 2023.
Punjab and Sind Bank (PSB) on its website has said that senior citizens will get an additional interest of 0.50% on fixed deposits of less than Rs. 2 crores. Provided Tenor Deposit is higher than the rates mentioned for maturity of 180 days. However, this benefit will not be applicable to NRE and NRO deposits.
In addition, Punjab & Sind Bank offers unique Fixed Deposit schemes with tenures ranging from 300 days to 1051 days. Regular customers of Punjab and Sind Bank will get an interest rate of 5.25% on PSB Superb 300-Day Fixed Deposit Scheme, senior citizens will get an interest rate of 5.75%, and very senior citizens will get an interest rate of 6.10%.
Regular customers of Punjab and Sind Bank will get an interest rate of 7.00% on PSB Fantastic Plus 601-Day Fixed Deposit Scheme. On the other hand, senior citizens will get an interest rate of 7.50% and very senior citizens will get an interest rate of 7.85%.
On the PSB e-Advantage 601-day fixed deposit programme, a regular customer will get an interest rate of 7.25%, senior citizens will get an interest rate of 7.75%, and ultra senior citizens will get an interest rate of 8.10%.
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