Punjab & Sind Bank (PSB), a public sector lender revised its interest rates on fixed deposits under Rs 2 crore. The bank has also extended the special FD tenure with higher interest offered only for limited period. The new rates will be effective as of February 1, 2024, according to the bank’s official website.
Punjab & Sindh Bank latest FD interest rates
Punjab & Sindh Bank offers interest rates between 2.80% to 7.40% after the revision for general citizens, with effect from February 1, 2024.
| Revised w.e.f. 01/02/2024 (% p.a.) | |
| Maturity | Fixed Deposit |
| Less than Rs.2 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 | 7.00($) |
| 223 – 269 Days | 5.25 |
| 270 – 332 Days | 5.5 |
| 333 Days | 7.15($) |
| 334-1 Year | 5.5 |
| 1 Year | 6.2 |
| >1 Years – 443 Days | 6 |
| 444 Days | 7.40($) |
| 445 Days – 2 Years | 6 |
| Above2Years-3Years | 6.3 |
| 3Years – 5Years | 6 |
| >5 Years – 10 Years* | 6.25 |
(#) Minimum amount of term deposit shall be Rs. 1.00 lac
($) Valid for period upto 31.03.2024 only.
Senior citizens
Senior Citizens shall be given benefit of additional interest of 0.50% on term deposits of less than Rs. 2 crore, over and above the mentioned rates 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. For senior citizens, the bank offers the highest interest rate of 7.90%Super Senior Citizens
Super Senior Citizens (80 Years & above) shall be given benefit of additional interest of 0.15% on specific period (i.e.444 Days) Term Deposits of less than Rs. 2 crore, 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.
For super senior citizens, the bank offers the highest interest rate of 8.05% on tenure of 444 days.
Special tenure of 444 days
This special tenure with higher interest rate is available only till March 31, 2024.
| Available Mode | General Public | Senior Citizen | Super Senior Citizen |
| Branch/Online (PSB UnIC) | 7.40% p.a. | 7.90% p.a. | 8.05% p.a. |
