Punjab & Sind Bank revises rates of interest on financial savings accounts & fastened deposits
The rates of interest on fastened deposits and financial savings accounts have been revised by public sector lender Punjab & Sind Bank (PSB). Savings account holders will henceforth get a most rate of interest of three.00 per cent, whereas traders in fastened deposits will obtain a most rate of interest of 5.55 per cent, as of at this time, July 1, 2022.
Punjab & Sind Bank Savings Account Rates
On financial savings account balances of as much as 1 Crore, the financial institution will now supply an rate of interest of two.80% and on financial savings financial institution deposits of above 1 Crore to as much as 100 Crore PSB will now supply an rate of interest of two.90%. On a financial savings account steadiness of above 100 Crore the financial institution will supply a most rate of interest of three.00%. These charges are efficient as of at this time on 01.07.2022.
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Punjab & Sind Bank Savings Account Rates (punjabandsindbank.co.in) Punjab & Sind Bank FD Rates
The financial institution will now give an rate of interest of two.80% on fastened deposits of seven to 45 days, down from 3 per cent beforehand. The financial institution will proceed to supply an rate of interest of three.70 per cent on fastened deposits held for 46 to 90 days and three.90 per cent on time period deposits saved for 91 to 179 days. Fixed deposits that mature in 180 to 269 days now earn 4.45 per cent curiosity, whereas time period deposits that mature in 270 to 364 days now pay 4.50 per cent curiosity. The financial institution presently presents an rate of interest of 5.35 per cent on time period deposits due in additional than 2 years however lower than 3 years, whereas PSB will proceed to supply an rate of interest of 5.25 per cent on deposits maturing in 1 yr to 2 years.
The most rate of interest on fastened deposits with maturities between three and ten years is now 5.55 per cent. On “PSB FIXED DEPOSIT TAX SAVER SCHEME” which comes with a maturity period of 5 years (lock-in) along with tax deductions of up to ₹1.5 lakh under section 80C, regular investors will get an interest rate of 5.55% p.a. and senior citizens will get an interest rate of 6.05% p.a.
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Punjab & Sind Bank FD Rates (punjabandsindbank.co.in)
On behalf of additional interest rate benefits for elderly individuals, PSB has mentioned on its website that “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 for fresh as well as on renewal of term deposits, same shall not be available to NRE and NRO Deposits.”
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