This public sector bank’s special FD with up to 8% interest rate will end soon

Punjab & Sind Bank is offering special fixed deposit, dubbed as PSB FD-555 Days, and it will end on June 30, 2023, according to the bank’s website.

PSB FD-555 Days

Any Indian resident who is eligible to open domestic term deposit account, including NRO/NRE accounts can invest in PSB FD-555 days fixed deposit. The tenure of the FD is 555 Days.

Rate of interest

The bank offers the highest interest rate of 8% to super senior citizen and 7.85% to senior citizens. The best rate of 7.35% is offered for general citizen on tenure of 555 days.

Available Mode	General Public	Senior Citizen	Super Senior Citizen
Branch/Online(PSB UnIC)	7.35% p.a.	7.85% p.a.	8.00% p.a.

Regular FD
Punjab & Sind Bank offers fixed deposit interest rates between 2.80% to 7.10% to regular citizens for amounts below Rs 2 crore. The bank offers highest interest rates of 7.00, 7.10% on tenure of 601 days, 400 days, respectively, will end on June 30, 2023 as per the bank’s website.

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	6
270 – 364 Days	6
1 Year - 399 Days	6.4
400 Days	7.10(##)
401 - 554 Days	6.4
555 Days	7.35
556Days-600Days	6.4
601 Days	7.00(##)
602 Days-2Year	6.4
Above2Years-<3Years	6.75
3Years - 5Years	6.25
>5 Years - 10 Years*	6.25

(#) Minimum amount of term deposit shall be Rs. 1.00 lac
(##) Valid for period 01.04.2023 - 30.06.2023 only.

Senior Citizens
The bank offers senior citizens 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.

Super Senior Citizens (80 Years & above)
According to the website, “Super Senior Citizens (80 Years & above) shall be given benefit of additional interest of 0.15% on specific period (i.e. 400 Days, 555 Days & 601 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.”