Punjab & Sind Bank Revises Interest Rates On Savings Account & FD: Latest Rates Here

Punjab & Sind Bank (PSB) offers its customers a range of savings bank deposits and term deposits which they can opt for based on their personal financial goals. Under its saving bank deposits option, the bank allows Saving Account, PSB Premier Saving Account, Current Account, PSB Premier Current Account, PSB Salary PLUS Account -UDAAN and Basic Savings Bank Deposit Account option. Whereas, the bank also provides a range of deposit schemes such as PSB Recurring Deposit Account, PSB Fixed Deposits, PSB Tax Saver, PSB Flexi Savings Deposit Product, and PSB Swasth Bharat Scheme under its PSB Term Deposits option. The bank has revised interest rates on its saving bank deposits and domestic term deposits which are as follows.

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PSB Savings Account Deposits are eligible for person/persons (Single or Joint names) and certain organizations/agencies like HUF, Non-Corporate Bodies, Clubs, Trusts, Societies, Associations, Schools, Executor(s) / Administrator(s), Government Bodies, Semi-Government Departments, Recognized PF Accounts, etc.

The account must have a minimum balance of Rs.50,000/- or more in Rural & Semi-Urban Branches and Rs.2,00,000/- or more in Urban & Metro Branches, and an account holder must maintain a minimum balance of Rs.50,000/- or more in Rural & Semi-Urban Branches and Rs.2,00,000/- or more in Urban & Metro Branches.

The account holder must maintain a minimum balance of Rs.50,000/- in the Rural & Semi-Urban Branches and Rs.2,00,000/- in the Urban & Metro Branches in these accounts. With effect from 16th September 2021 PSB is offering the below-listed interest rates on saving accounts.

Particular	Rate of interest
Saving Deposits	3.00% p.a.

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For a deposit amount of less than Rs 2 Cr, PSB is now offering the following interest rates to regular citizens on domestic term deposits, NRO accounts, capital gain accounts scheme 1988, recurring deposit scheme and PSB fixed deposit tax-saver scheme.

Maturity	Rate of interest (p.a.) in %
7 - 14 Days	3
15 - 30 Days	3
31 - 45 Days	3
46 - 90 Days	3.7
91 - 120 Days	3.9
121-150 Days	3.9
151 - 179 Days	3.9
180 - 269 Days	4.45
270 - 364 Days	4.5
1 Year - 2 Years	5.05
Above 2 Year < 3 Years	5.15
3 Years - 5 Years	5.3
> 5 Year - 10 Years	5.3
Source: Bank Website, w.e.f. 16/09/2021

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Senior citizens will get the following interest rates on their deposits of less than Rs 2 Cr.

Maturity	Rate of interest (p.a.) in %
7 - 14 Days	3
15 - 30 Days	3
31 - 45 Days	3
46 - 90 Days	3.7
91 - 120 Days	3.9
121-150 Days	3.9
151 - 179 Days	3.9
180 - 269 Days	4.95
270 - 364 Days	5
1 Year - 2 Years	5.55
Above 2 Year < 3 Years	5.65
3 Years - 5 Years	5.8
> 5 Year - 10 Years	5.8
Source: Bank Website, w.e.f. 16/09/2021