Punjab and Sind Bank is a leading public sector bank in India, offering a range of banking products and services, including fixed deposits. Punjab and Sind Bank offers fixed deposit (FD) accounts, also known as term deposits, with interest rates that vary depending on the deposit amount and tenure.
PSB offers a range of FD rates from 2.80% p.a. to 7.30% p.a. The highest fixed deposit rate offered by PSB is 7.30% p.a. for 666 days.
Table of Contents:
- ⇾ Punjab and Sind Bank FD Interest Rates
- ⇾ Punjab and Sind Bank Domestic & NRO Deposits
- ⇾ Punjab and Sind Bank Senior Citizen FD Interest Rates
- ⇾ Punjab and Sind Bank FD Interest Rates on FCNR (B) Deposits
- ⇾ Punjab and Sind Bank FD Interest rates on RFC Deposits
- ⇾ Online FD Calculator
- ⇾ Types of Punjab and Sind Bank FD
- ⇾ Punjab and Sind Bank FD Eligibility Criteria
- ⇾ Punjab and Sind Bank FD Documents
- ⇾ How to Apply for Punjab and Sind Bank FD?
- ⇾ Frequently Asked Questions
Punjab and Sind Bank FD Interest Rates
The table below shows the FD interest rates for domestic & NRO accounts of amount Less than ₹3 Crores.
| FD Maturity | Fixed Deposit Interest Rates (% p.a.) |
|---|---|
| 7 to 14 Days | 2.80(#) |
| 15 to 30 Days | 2.80 |
| 31 to 45 Days | 3.00 |
| 46 to 90 Days | 4.25 |
| 91 to 120 Days | 4.25 |
| 121 to 150 Days | 4.75 |
| 151 to 179 Days | 4.75 |
| 180 to 221 Days | 5.25 |
| 222 Days | 6.30($) |
| 223 to 269 Days | 5.25 |
| 270 to 332 Days | 5.50 |
| 333 Days | 7.15($) |
| 334 to < 1 Year | 5.50 |
| 1 Year | 6.30 |
| > 1 Year to 443 Days | 6.00 |
| 444 Days | 7.25($) |
| 445 Days to 665 Days | 6.00 |
| 666 Days | 7.30 |
| 667 Days to 2 Years | 6.00 |
| Above 2 Years to 998 Days | 6.30 |
| 999 Days | 6.65 |
| 1000 Days to 3 Years | 6.30 |
| 3 Years to 5 Years | 6.00 |
| >5 Years to 10 Years | 6.25 |
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(#) The minimum amount of the term deposit shall be Rs. 1.00 lac($) Valid for period up to 30.09.2024 only.
(*) FDRs issued for special purpose (under direction of court etc.), the term may exceed 10 years. The effective ROl for the same shall be as applicable for >5Y-10 Years bucket.
Also note that the FD rates are effective from 01/07/2024.
Note:
- Senior citizens are offered an additional 0.50% interest rate for deposits with a maturity of 180 days and above.
- Senior citizen's preferential rates do not apply to NRO and NRE deposits.
- Minimum deposit should be ₹1 lakh.
- Super senior citizens (aged 80 years & above) are offered an additional 0.15% interest rate on deposits with the following tenures: 222 days, 333 days, 444 days, 666 days, and 999 days.
- The 222 days, 333 days, and 444 days tenures are valid until September 30, 2024.
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Punjab and Sind Bank Domestic & NRO Deposits
The table below shows the interest Rates on Domestic & NRO Deposits of ₹3 crores & above (Bulk Deposit) w.e.f 02.07.2024.
| Period | Above 3 Cr to 5 Cr | Above 5 Cr to 10 Cr | Above 10 Cr To 15 Cr | Above 15 Cr to 25 Cr | Above 25 Cr to 50 Cr | Above 50 Cr to 75 Cr | Above 75 Cr to 100 Cr | Above 100 Cr |
|---|---|---|---|---|---|---|---|---|
| 7 days up to 14 days | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% |
| 15 days up to 30 days | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% |
| 31 days up to 45 days | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% |
| 31 days up to 45 days | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% |
| 46 days up to 60 days | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% |
| 61 days up to 90 days | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% |
| 91 days up to 180 days | 7.15% | 7.15% | 7.15% | 7.15% | 7.15% | 7.15% | 7.15% | 7.15% |
| 181 days up to 270 days | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% |
| 271 days up to 364 days | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% |
| 1 year to 2 year | 7.50% | 7.50% | 7.50% | 7.50% | 7.50% | 7.50% | 7.50% | 7.50% |
| Above 2 years to 3 years | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% |
| Above 3 years to 5 Years | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% |
| Above 5 years to 10 Years | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% |
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Depositors are advised to confirm the interest rates with their local branches before placing deposits in the above-mentioned slabs. The interest rates are subject to change periodically.Punjab & Sind Bank Senior Citizen FD Interest Rates
The table below shows the Punjab and Sind Bank FD interest rates for senior citizens.
| FD Tenure | FD rates for Senior Citizens (% p.a.) |
|---|---|
| 7 days – 14 days | 2.80 |
| 15 days – 30 days | 2.80 |
| 31 days – 45 days | 3.00 |
| 46 days – 90 days | 4.25 |
| 91 days – 120 days | 4.25 |
| 121 days – 150 days | 4.75 |
| 151 days – 179 days | 4.75 |
| 180 days – 221 days | 5.75 |
| 222 Days | 6.80 |
| 223 days – 269 days | 5.75 |
| 270 days – 332 days | 6.00 |
| 333 Days | 7.65 |
| 334 days – less than 1 year | 6.00 |
| 1 year | 6.80 |
| Above 1 year – 443 days | 6.50 |
| 444 Days | 7.75 |
| 445 days – 665 days | 6.50 |
| 666 days | 7.80 |
| 667 days – 2 years | 6.50 |
| Above 2 years – less than 998 days | 7.15 |
| 999 Days | 7.15 |
| 1000 days – less than 3 years | 6.80 |
| 3 years – 5 years | 6.50 |
| Above 5 years – 10 years | 6.75 |
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Note: The interest rate is subject to change.Not sure of your credit score? Check it out for free now!
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Punjab and Sind Bank FD Interest Rates on FCNR (B) Deposits
The table below shows the FD interest rates on Foreign Currency ( Non Resident ) Accounts ( Banks ) Scheme FCNR(B) w.e.f. 09/05/2024.
| FD Tenure | EURO | GBP | USD | JPY | CAD | AUD |
|---|---|---|---|---|---|---|
| 1 year to less than 2 years | 1.41% | 5.00% | 5.65% | – | 4.50% | 3.63% |
| 2 years to less than 3 years | 1.41% | 2.35% | 4.28% | - | 4.10% | 3.53% |
| 3 years to less than 4 years | 1.41% | 2.45% | 3.98% | - | 3.85% | 3.03% |
| 4 years to less than 5 years | 1.41% | 2.45% | 3.98% | - | 3.90% | 3.03% |
| 5 years | 1.41% | 2.45% | 3.98% | - | 3.95% | 3.00% |
Punjab & Sind Bank FD Interest Rates on RFC Deposits
The table below shows the Punjab and Sind Bank FD Interest rates on RFC Deposits:
| FD Tenure | EURO | GBP | USD | JPY |
|---|---|---|---|---|
| 1 year to less than 2 years | 0.07% | 1.89% | 1.53% | – |
| 2 years to less than 3 years | 0.27% | 2.24% | 1.93% | - |
| 3 years | 0.42% | 2.39% | 2.18% | - |
Online FD Calculator
An online FD calculator is a handy tool to help you estimate how much your Fixed Deposit (FD) will be worth at maturity. These calculators are like virtual assistants for your FD planning. You simply enter the amount you plan to invest, the interest rate (based on the bank's offerings or a specific scheme), and the duration of your investment. The PSB FD calculator will also consider the compounding frequency (monthly, quarterly, etc.).
| Maturity Date | : |
| Invested Amount | : ₹10,000 |
| Interest Amount | : ₹666 |
| Maturity Amount | : ₹10666 |
Types of Punjab & Sind Bank FD
Punjab and Sind Bank offers a diverse range of fixed deposit (FD) options to cater to the varied investment needs of its customers. Here are the different types of FD schemes available in Punjab and Sind Bank:
| Scheme Name | Tenure | Minimum Deposit | Interest Rate Benefit | Tax Benefits |
|---|---|---|---|---|
| PSB Fixed Deposit | 7 days 10 years | No minimum | 0.50% p.a. for senior citizens (180 days +) | No |
| PSB Fixed Deposit Tax Saver | 5 years | ₹100 | No | Yes (up to ₹1.5 lakh under Sec 80C) |
| FCNR (B) | 1 to 5 years | No minimum | Not applicable | No |
| NRE Account | No minimum tenure | No minimum | Not applicable | No |
| NRO Account | No minimum tenure | No minimum | Not applicable | No |
Punjab & Sind Bank FD Eligibility Criteria
Punjab and Sind Bank Fixed Deposit Accounts can be opened by:
- Individuals
- Sole Proprietors
- Partnership firms
- Private Limited Companies
- Public Limited Companies
- Hindu Undivided Families (HUFs)
- Specified Associates
- Societies
- Trusts
- Departments of Authority created by Government (Central or State)
- Limited Liability Partnerships
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Punjab and Sind Bank FD Documents
To open FD/RD accounts, the following documents are required:
- Recent passport-size photo.
- An "Officially Valid Document" (OVD) containing details of name and address. This can be any of the following: Passport , Driving License, Aadhaar Card, Voter's ID Card, NREGA Job card, National Population Register
- Permanent Account Number (PAN) or Form No. 60.
- Document related to the declared profession/activity, nature of business, or financial status.
For existing saving account customers opening term deposit accounts, no separate documents are required if their KYC is updated.
Check all Bank FD rates from the table below:
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Steps to Apply for Punjab & Sind Bank FD
Here's how to apply for a Fixed Deposit (FD) with Punjab and Sind Bank by visiting a branch:
- Step 1: Visit the nearest Punjab and Sind Bank branch.
- Step 2: Bring necessary documents like ID proof (Aadhaar card, PAN card, etc.), address proof, and deposit amount (cash, cheque, or demand draft).
- Step 3: At the branch, request an FD application form and fill it out accurately with your details, chosen scheme, deposit amount, tenure, and nomination details (optional).
- Step 4: Submit the completed application form along with the deposit amount to a bank representative.
- Step 5: The bank will verify your details and process your application. Once approved, you'll receive an FD receipt as confirmation.
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Check out other NBFC Fixed Deposit options from below:
Check more on FD rates from the links provided below:
Frequently Asked Questions
Punjab & Sind Bank offers FD rates from 2.80% p.a. to 7.30% p.a. depending on the deposit amount and tenure.
There's no set schedule for FD rate changes. They can adjust based on market conditions. It's always best to check for the latest rates before investing.
The minimum deposit amount typically starts from ₹1 lakh, but it can vary slightly depending on the specific FD scheme.
Yes, Punjab & Sind Bank typically offers senior citizens an additional interest rate of 0.5% on their FD deposits (for tenures over 180 days).
Punjab & Sind Bank offers FDs with tenures ranging from a few days to several years, typically up to 10 years.
Early withdrawal is usually allowed, but it comes with a penalty. The penalty amount and the applicable interest rate will depend on the specific FD scheme and the remaining tenure.
The interest on your FD is calculated based on the principal amount, interest rate, compounding frequency (usually monthly or quarterly), and tenure. You can find the FD maturity amount estimate using online FD calculators.
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