New FD Plans: This government bank brought special FD scheme, maturity of 501 days, know full details

New FD Scheme: If you are one of those investors who want fixed returns, then you can do FD. Public sector Punjab and Sind Bank (Punjab & Sind Bank) has come up with a special scheme of FD for such investors. The name of this scheme is – PSB Investment Plus-501 Days. Bank in this FD scheme (PSB new FD Scheme) Offering better returns. This special FD (fixed deposit) scheme will have a maturity period of 501 days. You can easily invest in this. The bank has recently launched this scheme.

Who can open account for FD scheme

Any resident, individual, body of individuals can open an account or invest in Punjab & Sind Bank’s PSB Investment Plus-501 Days FD Scheme (PSB INVESTMENT PLUS-501 DAYS). Non-individuals such as Hindu Undivided Family (HUF), Sole Proprietorship Firm as a non-individual; Partnership firms, companies, association of individuals can also invest in this FD scheme.

how much return will you get

On investing in the PSB Investment Plus-501 Days FD Scheme, an interest of 6.10 percent per annum is being offered to the common person or firm, while an interest of 6.60 percent is being offered to the senior citizen. The benefit of this scheme can be taken till December 1, 2022. In this FD scheme (PSB INVESTMENT PLUS-501 DAYS), you can invest at least Rs 5000 and then in multiples of Rs 1000. The maximum deposit that can be made in this scheme is Rs 1.99 crore.

Account can be opened in any branch of the bank

Under this scheme of Punjab and Sind Bank, you can open an account and invest in any branch of the bank. In recent times, banks have increased the interest rates on FDs. After the increase in policy rates by RBI, banks or other financial institutions have increased the interest on investment in fixed deposits or other deposits.