Punjab & Sind Bank (PSB), a public sector lender, revised its interest rates on fixed deposits for amounts under Rs 2 crore. The bank also has revised the savings account interest rate. The new interest rates are effective as of September 1, 2023, according to the bank’s official website.
Punjab and Sindh Bank FD rates
Punjab & Sindh Bank offers interest rates between 2.80% to 7.40% after the revision, with effect from September 1, 2023.
For fixed deposits that mature in 7 to 30 days, the bank is now offering an interest rate of 2.80%, and Punjab & Sind Bank (PSB) is now providing an interest rate of 3.0% for deposits that mature in 31 to 45 days. Punjab & Sind Bank (PSB) is now offering interest rates of 4.60% for deposits made within 46 to 90 days and 4.75% for deposits made during 91 to 179 days.
Deposits maturing between 180 to 332 days and 1 year and 333 days currently earn 5.50% and 6.50% interest, respectively. The bank is now paying 7.10% on special fixed deposits with maturities of 400 days, this offer is valid only till September 30, 2023.
While Punjab & Sind Bank (PSB) is paying 6.20% on deposits with maturities of 401 days-443 days, 556 days – 600 days, 602 days – 2 years and 445 days – 554 days.
The bank is offering the highest interest rate of 7.40% on tenure of 444 Days and 7.35% interest on tenure of 555 days.
The bank offers 6.50% on tenure above 2years to less 3 years and 6% on maturities between 3 years to 5 years Deposits with maturities ranging from five to 10 years will now yield 6.25% interest.
Latest FD interest rate
| 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 | 4.6 |
| 91 – 120 Days | 4.75 |
| 121-150 Days | 4.75 |
| 151 – 179 Days | 4.75 |
| 180 – 269 Days | 5.5 |
| 270 – 332 Days | 5.5 |
| 333 Days | 6.50($) |
| 334 Days – <1 Year | 5.5 |
| 1 Year | 6.4 |
| >1 Year – 399 Days | 6.2 |
| 400 Days | 7.10(##) |
| 401 Days-443Days | 6.2 |
| 444 Days | 7.40($) |
| 445 Days – 554 Days | 6.2 |
| 555 Days | 7.35($) |
| 556 Days – 600 Days | 6.2 |
| 601 Days | 7.00(##) |
| 602 Days – 2 Years | 6.2 |
| Above2Years-<3Years | 6.5 |
| 3Years – 5Years | 6 |
| >5 Years – 10 Years* | 6.25 |
Savings account interest rate
Punjab and Sindh offer savings account interest rates between 2.70% to 5% on different amounts.
| aving Bank Deposit including NRE/NRO | Revised Rates |
| w.e.f 01.09.2023 (% p.a) | |
| Upto 1 Crore | 2.70% |
| Above 1 Crore to upto 100 Crore | 2.90% |
| Above 100 Crore to upto 500 Crore | 4.55% |
| Above 500 Crore | 5.00% |
