Punjab and Sindh Bank (PSB), a leading public sector lender, has recently announced revised interest rates on fixed deposits below Rs. 2 crore. The bank has extended the tenure of special fixed deposits with higher interest rates for a limited period only.
The new rates will come into effect from February 1, 2024, as per the bank’s official website. Fixed deposit schemes are quite popular among people as they offer steady returns and other benefits. Banks are also providing competitive interest rates to attract customers.
Some banks, including Punjab and Sindh Bank, are continuing their existing popular special fixed deposit schemes. This announcement provides all the details about the revised interest rates and extension of the special fixed deposit schemes.
PSB FD Interest Rates 2024
Punjab and Sindh Bank set to introduce new interest rates effective February 1, 2024. The bank will offer interest rates ranging from 2.80% to 7.40% for the general public. Moreover, senior citizens will be eligible for an additional interest benefit of 0.50% on term deposits below Rs.2 crore. Additionally, Super Senior Citizens will enjoy the highest interest rate of 8.05% for 444 days.
PSB Interest Rates for General Citizens for less than 2 Crores
- For 7 to 30 days, 2.8%.
- 3% interest rate for a period of 31 to 45 days.
- Interest rate of 4.25% for a tenure of 46 to 120 days.
- With a tenure of 121 to 179 days, it offers a 4.75% interest rate.
- With a term period of 180 to 221 days, interest rate of 5.25%.
- An interest rate of 7% is currently being offered on fixed deposits with a tenure of 222 days.
- Interest rate of 5.25% for a period of 223 to 269 days.
- 5.5% interest rate for the period of 270 to 332 days.
- Over a period of 333 days, the bank offers a 7.15% interest rate.
- A period of 444 days offers a 7.40% interest rate.
PSB Spcial FD Interest Rate 2024
Punjab and Sindh Bank is offering a special 444-day fixed deposit scheme with an interest rate of 7.40%. This offer will be available until March 31, 2024. The minimum deposit required for this scheme is Rs. 1 lakh.
Senior citizens will receive an additional 0.50% interest, making the interest rate 7.90% for them. Super senior citizens (those above 80 years) will receive an additional 0.15% interest, making the interest rate 8.05% for them.
Advised to check the PSB Bank official website or visit a nearby branch channel to get the latest updated interest rates for 2024.