Punjab and Sind Bank Fixed Deposit Interest Rates
Putting resources into a Fixed Deposit account stays the most famous method of venture for traditionalist financial backers in the country today. A fixed deposit account is a conventional type of bank account that gives a higher pace of interest than a normal bank account. The pace of interest paid on fixed deposit changes as indicated by the sum deposited, period and the responsible bank. The overall general guideline is, the more extended the term of deposit, the higher the pace of interest. In any case, a bank may likewise offer a slower pace of interest for a more extended residency if the rates are relied upon to fall later on. Punjab and Sind Bank Interest Rates ordinarily range from 3% – 8% per annum.
Punjab and Sind Bank Fixed Deposit Features
- Deposit Amount: Punjab and Sind Bank FD can be opened with an amount as a low to up to No Limit.
- FD Tenure: Ranges between 7 days to 10 years.
- Interest Rate Range: 3.10% p.a. to 5.25% p.a.
- Senior Citizens FD Rate: 3.60% to 5.95% p.a.
- Highest Interest Rate: As per today’s rate, Punjab and Sind Bank’s highest interest rate on FD is 5.25% offered for a tenure of 10 years.
- Safety of Punjab and Sind Bank Deposits: Punjab and Sind Bank deposits are covered under the Deposit Insurance Scheme of RBI in which up to ₹ 5 lakh of all deposits of a depositor are insured by DICGC.
- Loan against FD: Punjab and Sind Bank provides loan against FD to help its depositor meet their liquidity requirements without breaking the FD.
- Auto-Renewal Facility: Available
- Nomination Facility: Available
- Popular FD Schemes: Standard Fixed Deposit
Punjab and Sind Bank Fixed Interest Rates
| Tenure | Rate of Interest (%) |
|---|---|
| 7 – 14 Days | 3.75 |
| 15 – 30 Days | 4.25 |
| 31 – 45 Days | 5.75 |
| 46 – 90 Days | 6.25 |
| 91 – 150 Days | 6.50 |
| 151-179Days | 6.50 |
| 180 – 269 Days | 7.10 |
| 270 – 364 Days | 7.10 |
| 1 Year -2Year | 7.30 |
| Above 2 Years – < 3Years | 7.30 |
| 3 Years – 5Years | 7.25 |
Types of Punjab and Sind Bank Fixed Deposit Schemes
- Fixed Deposit scheme ordinary
- Saving with a smile deposit scheme
- Short team deposit scheme
- Capital Gain Deposit Scheme
- Harhi Savni JamaYojna
Punjab and Sind Bank Fixed Deposit Rates – Premature Withdrawal
Untimely conclusion of Term Deposit with Punjab and Sind Bank is alongside the lower interest pace of 0.50% for deposits up to Rs. 15 lakh and 1 % for deposits above Rs. 15 lakh than the contracted rate. The correctional arrangements for untimely conclusion on Punjab and Sind Bank FD are liable to change every once in a while and may likewise differ with deposit plans.
Loan against Fixed Deposit Punjab and Sind Bank
Punjab and Sind Bank offers loan up to 90% against its own deposit. Note that Punjab and Sind Bank won’t give you a loan against FD of some other bank. Punjab and Sind Bank offers Loan against FD at the pace of 4.1% to 6.25%
Greatest loan residency is limited up to the most extreme residency of the FD.
Representation – Mr Rahul has opened a fixed deposit of ₹ 1,00,000 for a very long time in Punjab and Sind Bank. The borrower later chose to take a loan against his FD. The bank has endorsed a credit cutoff of 90% against his FD at a 10% interest rate. Presently, if the borrower draws ₹ 90,000 on the first of the month and afterwards reimburses the cash on the first of one month from now, at that point he should pay the interest on ₹ 90,000 benefited for multi-month as it were. The sum he reimburses following multi-month is ₹ 90,744. Along these lines, the interest charged on the loan taken is ₹ 744.
FD Account Opening Process at Punjab and Sind Bank
To open a Fixed Deposit account in Punjab and Sind Bank, you can visit the authority site and log in to your record. Pick Fixed Deposit alternative from the menu and select the Type of FD you need to open and continue. After this, you need to fill the deposit sum and select ‘Senior Citizen’ choice in the event that you are over 60. You need to pick the residency of deposit and interest payout recurrence. Snap-on Submit to open the Punjab and Sind Bank FD in the wake of perusing the terms and conditions.
Nomination Facility on Punjab and Sind Bank Bank FD
Punjab and Sind Bank offers designation office on Fixed Deposit to guarantee the sum if there should arise an occurrence of the demise of the depositor. An individual, single or shared service holders can select a chosen one. Just a single individual can be delegated as a candidate. You can fill in candidate subtleties while opening a Punjab and Sind Bank fixed deposit. The candidate needs to present his/her ID evidence at the hour of guarantee.
Punjab and Sind Bank Fixed Deposit Interest Rates – FAQs
✅ What is the highest FD rate for Punjab and Sind Bank?
You can earn a maximum interest of 5.25% on Punjab and Sind Bank fixed deposit.
✅ Are there any special rates for senior citizens FD of Punjab and Sind Bank?
Yes, senior citizens get a higher rate on their deposits compared to FD rates. The rate of regular FD are in the range of 3.10% to 5.25%. Compared to this, the rate of senior citizens FD are in the range of 3.60% to 5.95%.
✅ What are the current Punjab and Sind Bank FD interest rates 2021?
Current interest for FD in Punjab and Sind Bank ranges between 3.10% – 5.25%.
✅ Is there any minimum amount that I have to give for opening a Fixed Deposit with Punjab and Sind Bank?
The minimum deposit amount required to book an FD with Punjab and Sind Bank is .
✅ Can I deposit additional amount in my FD account?
No, you cannot deposit any additional amount in your existing FD account as you are allowed to deposit only once at the time of opening the account. If you want to invest any additional amount in FD, you are required to open a new FD account.
✅ Who is eligible for opening an FD account in Punjab and Sind Bank?
All resident individuals, HUFs, NRIs, Firms including minors are eligible to open a fixed deposit account.
✅ Is it possible to change the tenure of my existing fixed deposit account with Punjab and Sind Bank?
No, it is not possible to alter the tenure selected for the fixed deposit account once the account is opened. However, you may close your existing fixed deposit account and can open a new account with a desired tenure of your choice.
✅ What are the implications of opening an FD bank account without having PAN?
Following are the implications for the customers opening an FD account with Punjab and Sind Bank without their PAN card
✅ Can a customer open a FD account online in Punjab and Sind Bank?
Yes, you can submit your application for opening a FD account on the website of Punjab and Sind Bank. After submitting the application, you will be contacted by the bank’s representative for further process which includes filling an application process and submitting KYC documents.
✅ In how many years FD will double in Punjab and Sind Bank?
The interest rate on FD depends upon the tenure you choose. To know the time period in which your FD amount will get doubled, you need to divide 72 with the 5.25%. For Punjab and Sind Bank FD the number of years in which your FD will get doubled is; 72/5.25 = 14
