Punjab and Sind Bank (PSB), one of the public sector lenders, is currently offering five different special fixed deposit (FD) schemes with unique benefits. These schemes are being offered for limited period. These are the schemes- PSB Special Rate for Special Days, The Power of 400 Days, Investment Plus-501 Days, PSB Fabulous 300 Days, and Fabulous Plus 601 Days and are available for a limited tenure.
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PSB Special Rate for Special Days (SRSD-1051)
This special FD schemes has a tenor of 1051 days and is valid till June 23, 2023. Under this plan, customers can get 25 bps higher than the applicable interest rates for the term deposit scheme for the specified period.
PSB 'The Power of 400 days'
This special FD has a maturity period of 400 days and the scheme is valid up to December 31, 2022. Under this, special rate of Interest, which is a flat 5.80 percent (per year) is available. The minimum deposit amount to open an account is Rs 25,000 (over Rs 25,000 in multiples of Rs 5,000, Rs 10,000).
PSB Investment Plus-501 Days
This special FD scheme has a 501-day maturity period and is in effect till December 1, 2022. Under the scheme, fixed rate of 6.10 percent (annually) is available.
A minimum amount of Rs 5,000 and above in multiples of Rs 1,000 with a maximum limit of Rs 1.99 crore is required to open this special FD.
PSB Fabulous 300 days
This plan has a 300-day maturity term and is available till March 31, 2023. Under this scheme, the lender is offering 5.25 percent (per annum) for the general public, 5.75 percent (per annum) for senior citizens, and 6.10 percent (per annum) for super senior citizens.
PSB Fabulous Plus-601 Days
PSB Fabulous Plus-601 Days has a specific maturity period of 601 days and the scheme is valid till March 31, 2023. Under the scheme, the lender is offering a special interest rate of 7 percent for general public.
Fixed deposit rates
Punjab and Sind Bank has recently revised their interest rates on fixed deposits and saving accounts. The lender offers a maximum interest rate of 5.00 percent on savings accounts and fixed deposit rates range from 2.80 percent to 6.10 percent.
Here are the FD rates on different maturity period:
| Maturity | Fixed DepositLess than Rs.2 Cr |
| 7 - 14 Days | 2.80(#) |
| 15 - 30 Days | 2.80 |
| 31 - 45 Days | 3.00 |
| 46 - 90 Days | 4.00 |
| 91 - 120 Days | 4.20 |
| 121-150 Days | 4.30 |
| 151 - 179 Days | 4.30 |
| 180 – 269 Days | 4.80 |
| 270 – 364 Days | 5.00 |
| 1 Year - 2 Years | 6.10 |
| Above 2 Year < 3 Years | 6.25 |
| 3 Years – 5 Years | 6.10 |
| >5 Years - 10 Years | 6.10 |
(Source: Punjab and Sind Bank)
First Published: Nov 8, 2022 12:59 PM IST
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