Punjab and Sind Bank (PSB), a public sector bank, has extended the last date of its special fixed deposit (FD) by 222 days, 333 days, and 444 days from June 30, 2024. According to its official website, Punjab and Sind Bank has also revised its fixed deposit rates, effective July 1, 2024.
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Special FD: What is the latest deadline after extension?
Punjab and Sindh’s limited-time special deposits have been extended to September 30, 2024 from June 30, 2024.
The special FD duration of 222 days offers a higher interest rate of 6.30%. The bank provides 7.15% on special deposits with a duration of 333 days. On deposit duration of 444 days, the bank offers FD interest rate of 7.25% for general residents.
Punjab and Sind Bank fixed deposit interest rates
With effect from July 1, 2024 Punjab and Sind Bank has revised their fixed deposit (FD) rates.
The bank offers a 2.8% interest rate on fixed deposits maturing in 7 to 30 days. PSB is giving a 3% interest rate on fixed deposits due in 31 to 45 days. Punjab and Sind Bank (PSB) offers a 4.25% interest rate on fixed deposits with maturities ranging from 46 to 120 days.
PSB is giving 4.75% interest on deposits made for periods ranging from 121 to 179 days. For deposits made for tenures between 180 and 269 days and 223 – 269 Days PSB is offering an interest rate of 5.25%. The bank is giving a 5.5% interest rate on FDs with maturities ranging from 270 days to 332 days, 334 to less than 1 year.
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For a tenure of one year, above 2 years to less than 998 days, and 1000 days to less than 3 years the bank is offering an interest rate of 6.3%. But an FD of tenure greater than one year to less than 443 days and 445 days – 665 Days, 667 days-2 years, 3 years – 5 years the interest rate is 6%.
One special tenure of 666 days, the bank offers the highest FD interest rate of 7.30% for general citizens. Note that this tenure does not fall under a limited special deposit which comes with a deadline.
| Revised w.e.f. 01/07/2024 (% p.a.) | |
| Maturity | Fixed Deposit |
| Less than Rs.3 Cr | |
| 7 – 14 Days | 2.80(#) |
| 15 – 30 Days | 2.8 |
| 31 – 45 Days | 3 |
| 46 – 90 Days | 4.25 |
| 91 – 120 Days | 4.25 |
| 121-150 Days | 4.75 |
| 151 – 179 Days | 4.75 |
| 180 – 221 Days | 5.25 |
| 222 Days | 6.30($) |
| 223 – 269 Days | 5.25 |
| 270 – 332 Days | 5.5 |
| 333 Days | 7.15($) |
| 334-<1 Year | 5.5 |
| 1 Year | 6.3 |
| >1 Years – 443 Days | 6 |
| 444 Days | 7.25($) |
| 445 Days – 665 Days | 6 |
| 666 days | 7.3 |
| 667 Days-2 years | 6 |
| Above 2 years<998 days | 6.3 |
| 999 days | 6.65 |
| 1000 Days < 3 years | 6.3 |
| 3 years – 5 years | 6 |
| >5 years – 10 years | 6.25 |
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Senior citizens
Senior citizens will be eligible for an additional interest rate of 0.50% on term deposits of less than Rs. 3 crore, in addition to the mentioned rates, for maturities of 180 days or more on both new and renewed term deposits; however, this will not apply to NRE, NRO deposits, capital gains, or bulk deposits.
One special tenure of 666 days, the bank offers the highest FD interest rate of 7.80% for senior citizens.
Super Senior Citizens
According to the bank website, “Super Senior Citizens (80 Years & above) shall be given benefit of additional interest of 0.15% on specific period (i.e. 222Days, 333Days, 444Days, 666Days, 999Days) Term Deposits of less than Rs. 3 crore, over and above mentioned in point no. 1 above for the maturity of 180 days & above on fresh as well as on renewal of term deposits, same shall not be available to NRE, NRO deposits, capital gain and Bulk deposits.”
The bank offers super senior citizens the highest FD interest rate of 7.95% for a deposit tenure of 666 days. This includes 0.50%(senior citizens benefits + 0.15% (super senior benefit).
