Punjab and Sind Bank has updated its fixed deposit (FD) interest rates, providing attractive returns for general citizens, senior citizens, and super senior citizens.
Super senior citizens are those aged above 80 years. The revised interest rates for FDs with tenures from 7 days to 10 years range between 4% and 7.45% per annum.
For general citizens, the maximum interest rate is set at 7.50% per annum.
Benefits Senior Citizens Get on FDs
Punjab and Sind Bank offers senior citizens an additional 0.50% interest. The maximum interest rate for senior citizens is 8% per annum, applicable to non-callable FDs with a tenure of 555 days.
The new interest rates have been effective since November 14, 2024. The new interest rates will apply to both new and renewed FDs.
However, they are not available for NRE, NRO, capital gains, and bulk deposits.
Benefits for Super Senior Citizens
The bank offers an extra 0.15% interest to super senior citizens, i.e., investors aged 80 years or older.
This benefit applies to special period FDs, which include tenures of 222, 333, 444, 555, 777, and 999 days, as well as PSB Green Earth FDs of 22, 44, and 66 months.
Punjab & Sind Bank FD Rates (Effective from November 14, 2024):
| Maturity Period | Interest Rate (up to Rs 3 Crore) |
|---|---|
| 7 – 14 days | 4.00% |
| 15 – 30 days | 4.00% |
| 31 – 45 days | 4.25% |
| 46 – 90 days | 4.50% |
| 91 – 120 days | 4.50% |
| 121 – 150 days | 4.75% |
| 151 – 179 days | 6.00% |
| 180 – 221 days | 5.25% |
| 222 days | 6.30% |
| 223 – 269 days | 5.25% |
| 270 – 332 days | 5.50% |
| 333 days | 7.20% |
| 334 days to <1 year | 5.50% |
| 1 year | 6.30% |
| >1 year – 443 days | 6.00% |
| 444 days | 7.30% |
| 445 – 554 days | 6.00% |
| 555 days (Callable) | 7.45% |
| 555 days (Non-Callable) | 7.50% |
| 556 days to <22 months | 6.00% |
| 22 months | 7.00% |
| >22 months to <2 years | 6.00% |
| 2 years – 776 days | 6.30% |
| 777 days | 7.25% |
| 999 days (Callable) | 6.65% |
| 999 days (Non-Callable) | 7.40% |
| 1000 days to <3 years | 6.30% |
| 3 years to <44 months | 6.00% |
| 44 months | 6.75% |
| >44 months to 5 years | 6.00% |
| >5 years to <66 months | 6.25% |
| 66 months | 6.45% |
| >66 months to 10 years | 6.25% |
