Punjab and Sind Bank - Rightsofemployees.com

FD rate Change: This Bank has changed FD rates, giving 8% interest

Jyoti — Thu, 21 Nov 2024 10:03:41 +0000

Punjab and Sind Bank : Punjab and Sind Bank has revised its fixed deposit (FD) interest rates. The bank is offering attractive returns to general citizens, senior citizens and super senior citizens.

Super senior citizens are investors above 80 years of age. The bank has kept interest rates on FDs with tenures ranging from 7 days to 10 years at 4% to 7.45% per annum. The highest interest rate for general citizens is 7.50% per annum.

Benefits that senior citizens get on FD

Punjab and Sind Bank is offering an extra interest of 0.50% to senior citizens. The highest interest rate of the bank for senior citizens is 8% per annum, which is available on non-callable FDs of 555 days. These new interest rates have come into effect from November 14, 2024. The benefit of the new interest rate will be available to new FDs and renewal FDs. However, these rates are not applicable to NRE, NRO, capital gains and bulk deposits.

Benefits for Super Senior Citizens

The bank gives an additional 0.15% interest to super senior citizens i.e. investors aged 80 years or above. This benefit will be applicable on special period FDs. Special period FDs are applicable on FDs of 222, 333, 444, 555, 777, 999 days and PSB Green Earth FDs of 22 months, 44 months and 66 months.

Punjab & Sind Bank FD Rates – Effective from 14th November 2024

Maturity	Interest rate on FD up to Rs 3 crore
7 – 14 days	4.00(#)
15 – 30 days	4.00
31 – 45 days	4.25
46 – 90 days	4.50
91 – 120 days	4.50
121-150 days	4.75
151 – 179 days	6.00
180 – 221 days	5.25
222 days	6.30
223 – 269 days	5.25
270 – 332 days	5.50
333 days	7.20
334 – <1 year	5.50
1 year	6.30
> 1 year – 443 days	6.00
444 days	7.30
445 days – 554 days	6.00
555 days ( Callable)	7.45
555 Days (Non-Callable)*	7.50
556 days – <22 months	6.00
22 Months	7.00*
>22 months -< 2 years	6.00
2 years – 776 days	6.30
777 days	7.25
999 days (Callable)	6.65
999 days (Non-Callable)*	7.40
1000 days -< 3 years	6.30
3 years -< 44 months	6.00
44 Months	6.75*
>44 months – 5 years	6.00
>5 years -< 66 months	6.25
66 Months	6.45*
>66 months – 10 years	6.25

Note – These interest rates have been taken from the bank’s website. The interest rate with a star is PSB Green Earth FD. It is being offered for 22 months, 44 months and 66 months. Apart from this, there is a special FD scheme of 222, 333, 444, 555, 777, 999 days. The bank is offering it for some time i.e. till 31 December 2024.

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Bank has extended the investment deadline in Special FD, you can invest till 31 October, check interest rate

Jyoti — Thu, 03 Oct 2024 06:36:24 +0000

Punjab & Sind Bank Fixed Deposit Rate: Punjab & Sind Bank has extended the time limit for investing in special FDs. The investment period in this special FD named Dhanlaxmi of Punjab and Sind Bank is 444 days.

In this FD, general citizens get 7.4% and senior citizens get 7.9% and super senior citizens get 8.05% interest. Apart from this, Punjab & Sind Bank also has special FDs of 222 days and 333 days. The time for investing in these FDs was till 30 September but now it has been extended to 31 October 2024. Along with this, the bank has also revised the interest rates on its general FDs. These new rates have come into effect from October 1.

Special FD of Punjab and Sindh Bank

Punjab and Sind Bank is offering special FDs of 222 days, 333 days and 444 days to its customers. These special FDs are offering a maximum interest of 8.05 percent. According to the bank’s website, the bank is offering 7.05 percent interest on 222 days FD, 7.10 percent on 333 days FD and 7.25 percent on 444 days FD. The bank is offering 8.05 percent interest to super senior citizens on 444 days FD. The bank gives an extra interest of 0.50 percent to senior citizens. Super senior citizens get an additional interest of 0.15 percent in addition to 0.50 percent.

Revised interest rate effective from 01/10/2024 (% p.a.)
Maturity Period	Up to Rs 3 crore
7 – 14 days	2.80(#)
15 – 30 days	2.80
31 – 45 days	3.00
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	5.50
333 days	7.15
334 – <1 year	5.50
1 year	6.30
> 1 year – 443 days	6.00
444 days	7.25
445 days – 665 days	6.00
666 days	7.30
667 days – 2 years	6.00
Above 2 years < 998 days	6.30
999 days	6.65
1000 days < 3 years	6.30
3 Years – 5 Years	6.00
>5 Years – 10 Years	6.25

MCLR Increased: Big news! Have you also taken loan from these two banks, EMI is going to increase from next month, check details

Pravesh Maurya — Thu, 16 Mar 2023 16:02:54 +0000

MCLR Hike: Federal Bank and Punjab and Sind Bank have increased the MCLR from Thursday, March 16, after which home loans will become costlier for the bank’s customers. Since the increase in the repo rate by the Reserve Bank of India’s monetary policy last month, banks are continuously increasing the lending rate. Even before this many banks have increased MCLR (Marginal Cost of Funds based Lending Rates). Today the new rates of Federal and Punjab and Sindh Bank have come into force from today.

How much did Federal Bank increase (Federal Bank MCLR Hike)

Federal Bank has increased its lending rates by 0.10% today, the new rates are applicable from today. Now the lending rate for one year will be 9.30%. Overnight MCLR has become 9.05, one month MCLR 9.10, three months MCLR 9.15 and six months MCLR 9.25%.

How much interest will be charged on home loan?

The bank’s home loan interest rates for salaried people are as follows – 10.15% on home loans of 30 lakhs, 10.20% on home loans between 30 lakhs to 75 lakhs and 10.25% on home loans above 75 lakhs. It will take By the way, if we talk about the interest rates, then the most expensive loan is the car loan of the bank, on which you will have to pay interest at the rate of 16.30%.

Punjab and Sind Bank hikes MCLR by 0.10-0.20%

Punjab and Sindh Bank has also increased the lending rate from today. The one year MCLR of the bank (above six months to 1 year) has become 8.60%. Overnight MCLR is 7.70, one month MCLR is 7.80, up to three months MCLR is 8.30 and six months MCLR is 8.45%.

Explain that MCLR is the minimum rate at which banks can lend to customers. They are not allowed to give loans below this rate. The RBI MCLR system works with the target that banks have a fixed base lending rate for different types of loans.

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