• Fixed Deposit
  • Punjab and Sind Bank
  • Punjab Sind Bank Fixed Deposit
Punjab Sind Bank Fixed Deposit

Punjab Sind Bank Fixed Deposit

Public SectorNA 
Shield CheckDICGC

6%

Interest for 3 years

Punjab and Sind Bank FD Interest Rates 2024

TenureNormal Citizen FD RateSenior Citizen FD Rate
7 days - 1 month2.8%2.8%
1 month 1 day - 1 month 15 days3%3%
1 month 16 days - 3 months 28 days4.25%4.25%
3 months 29 days - 5 months 26 days4.75%4.75%
5 months 27 days - 7 months 7 days5.25%5.75%
7 months 8 days - 7 months 8 days7.05%7.55%
7 months 9 days - 8 months 24 days5.25%5.75%
8 months 25 days - 10 months 28 days5.5%6%
10 months 29 days - 10 months 29 days7.1%7.6%
11 months - 11 months 30 days5.5%6%
1 year - 1 year6.2%6.7%
1 year 1 day - 1 year 2 months 17 days6%6.5%
1 year 2 months 18 days - 1 year 2 months 18 days7.3%7.8%
1 year 2 months 19 days - 2 years6%6.5%
2 years 1 day - 2 years 11 months 30 days6.3%6.8%
3 years - 4 years 11 months 30 days6%6.5%
5 years - 9 years 11 months 29 days6.3%6.8%

Note: All interest rates shown above are as on 7th May 2024

About Punjab and Sind Bank FD

Punjab & Sind Bank is under the ownership of Ministry of Finance, Government of India. The bank was established in Amritsar on 24 June 1908. The bank has a balance sheet size of Rs. 2,57,832 Cr as on 31st March 2020. The bank recorded a Loss of Rs 991 Cr in FY20

Punjab and Sind Bank FD

2.8% - 7.3%

FD Rate

2.8% - 7.8%

FD Rate for Seniors

₹ 1000

Minimum Deposit

₹ 2 Crores

Maximum Deposit

-

Lock-in

-

FD Tenure

-

Loan against FD

NA

CRISIL Rating

Punjab and Sind Bank FD Returns Based on Investment Amount

Investment AmountFor 3 years with interest of 6%For 5 years with interest of 6%
₹ 50,000 ₹ 59,834₹ 67,443
₹ 1 lakh ₹ 1,19,668₹ 1,34,885
₹ 2 lakh ₹ 2,39,336₹ 2,69,770
₹ 5 lakh ₹ 5,98,340₹ 6,74,425
₹ 10 lakh ₹ 11,96,681₹ 13,48,850

Compare Punjab and Sind Bank Fixed Deposit Returns with Top Banks

Use FD calculator to change values and compare your returns from top banks.

vs
Uttarbanga Kshetriya Gramin Bank FD
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Punjab and Sind Bank FD
Punjab and Sind Bank FD
Maturity Amount 1,06,379 1,05,326
Total Investment Amount₹ 1,00,000₹ 1,00,000
Total Interest Gained6,379 5,326

Compare Punjab and Sind Bank Fixed Deposit Rates with Top Banks

Bank NameFD Interest Rates
Uttarbanga Kshetriya Gramin Bank FD
5.2% - 5.2%
Kotak Mahindra Bank FD
7% - 7.6%
Paschim Banga Gramin Bank FD
5.3% - 5.8%
Indian Overseas Bank FD
6.5% - 7%
HDFC Ltd FD
7.35% - 7.6%
Jharkhand Rajya Gramin Bank FD
6.5% - 6.75%
Andhra Pragathi Grameena Bank FD
7% - 7.6%
Rajasthan Marudhara Gramin Bank FD
7.1% - 7.6%
Arunachal Pradesh Rural Bank FD
6.25% - 6.75%
State Bank of India FD
6.75% - 7.25%

Calculate Punjab and Sind Bank FD Returns

1,00,000

Total Investment

6,379

Wealth Gained

1,06,379

Maturity Amount

Explore Debt Funds, instead!

The flexible & tax efficient alternative to FDs.

Punjab Sind Bank FD provides a wide range of fixed deposits including cumulative, tax-saver, and flexi deposits. The Punjab Sind Bank FD rates range from 3% to 5.30% with an additional 0.50% for senior citizens. Know about the types of fixed deposits, their features and calculate the interest to be earned for a fixed tenure.

Features of Punjab Sind Bank FD

Eligibility- Individuals, Sole Proprietors, partnership firms, Private and Public Limited Companies, HUFs, Specified Associates, Societies, Trusts, Departments of Authority created by Government (Central or State), Limited Liability Partnership.

A joint account with another individual is allowed

With an “Either or Survivor” or “Former or Survivor” mandate, the bank will only allow the surviving joint depositor to withdraw funds before the death of the other joint depositor. This is allowed only if the joint depositor has signed a joint mandate. All Term Deposit account opening forms invariably include conditions through which the account holders can specify their terms.

If no instructions or mandates are received from the customer for not renewing the deposits, the deposit will be auto-renewed. The renewal will be for the same period of time as the matured deposit at the prevailing rate of interest.  The automatic renewal will be applicable for deposits with a maturity value of less than Rs. 2 crores at maturity.  However, auto-renewal is not applicable to PSB Fixed Deposit Tax Saver Scheme, Capital Gain Deposit, Bulk Deposit, and Inter-Bank Deposit.

Types of Punjab Sind Bank FD

  • Regular Fixed Deposit
  • PSB Tax Saver
  • PSB Nanhe Chaman Term Deposit
  • PSB Grih Lakshmi Fixed Deposit
  • PSB Fabulous 300 Days
  • PSD Fabulous Plus 601 Days
  • PSB e-Advantage Fixed Deposit
  • PSB Utkarsh 222 Days

Regular Fixed Deposit

  • Eligible- Individuals, Sole Proprietors, partnership firms, Private and Public Limited Companies, HUFs, Specified Associates, Societies, Trusts, Departments of Authority created by Government (Central or State), Limited Liability Partnership
  • A joint account with another individual is allowed
  • Punjab Sind Bank FD rates range from 3% to 5.30% depending on the tenure
  • The investment period ranges from 7 days to 10 years
  • No additional KYC for existing account holders with updated KYC
  • Senior citizens will receive an additional 0.50% over and above the existing Punjab Sind Bank FD rates

PSB Tax Saver

  • Under the scheme, an individual or a Hindu Undivided Family can invest in our Bank’s Fixed Deposit. 
  • A single-name or joint-name account can be opened. 
  • A joint account deposit receipt can be issued to two individuals or an adult and a minor, and it can be paid to either the holders or the survivors. 
  • Only the first holder of the deposit will be eligible for the tax benefit under section 80C in the case of Joint Name. 
  • For the purpose of tax benefit under Section 80C, the investment in Fixed Deposit under the scheme will be subject to a total ceiling of Rs. 1.5 lakh.
  • For such a Fixed Deposit, the ‘lock in’ term will be five years. Fixed Deposits cannot be withdrawn before the 5-year period has expired. 
  • Depending on the investor’s accounting system, the interest on the Fixed Deposit will be taxed either on an accrual or on a receipt basis. 
  • The scheme offers a Nomination Facility, which can be used at the time of deposit or at any time before the deposit matures. 
  • In the event that the holder of a Fixed Deposit for which a nomination is in place dies, the nominee is entitled to encash the Fixed Deposit at any time before or after the Fixed Deposit matures.
  • At the holder’s request, the fixed deposit can be transferred from one of the Bank’s branches to another (s). 
  • A person who is entitled to a duplicate fixed deposit receipt can ask for one if it is lost, stolen, destroyed, damaged, or disfigured. 
  • Every such application must be accompanied by a declaration detailing the quantity, value, and date of the receipt, as well as the circumstances surrounding the loss, theft, destruction, mutilation, or defacement. 
  • On submission of an ‘Indemnity Bond’ in the prescribed form with one or more approved sureties or a Bank Guarantee, a duplicate receipt will be issued to the applicant.

PSB Nanhe Chaman Term Deposit

  • Purpose: A term deposit for newly born kids up to the age of twelve months.
  • Tenure: 60 months and 120 months
  • Minimum Deposit Amount: INR 1,000 and in multiples of INR 500.
  • Maximum Deposit Amount: 1,50,00,000

PSB Grih Lakshmi Fixed Deposit

  • Purpose: A fixed deposit for women.
  • Tenure: 551 Days
  • Scheme Validity: 23th June 2023
  • Minimum Deposit Amount: INR 5,000 and in multiples of INR 1,000.
  • Maximum Deposit Amount: 1,50,00,000

PSB Fabulous 300 Days

  • Tenure: 300 days only
  • Scheme Validity: 31st March 2023
  • Minimum Deposit Amount: INR 5,000 
  • Maximum Deposit Amount: INR 1.99 Crore

PSD Fabulous Plus 601 Days

  • Tenure: 601 days only
  • Scheme Validity: 31st March 2023
  • Minimum Deposit Amount: INR 5,000 and in multiples of INR 1,000
  • Maximum Deposit Amount: INR 1.99 Crore

PSB e-Advantage Fixed Deposit

  • Tenure: 601 days only
  • Scheme Validity: 31st March 2023
  • Minimum Deposit Amount: INR 1,000 
  • Maximum Deposit Amount: INR 1.90 Crore

PSB Utkarsh 222 Days

  • Tenure: 222 days only
  • Scheme Validity: 31st March 2023
  • Minimum Deposit Amount: INR 5,000 and in multiples of INR 1,000
  • Maximum Deposit Amount: INR 1.95 Crore

What are the Documents Required to Open a Punjab Sind Bank FD?

A new applicant must submit the application form, his or her PAN along with any of the following address proofs. However, no document is required if the applicant is an existing account holder and KYC is updated.

  • Passport(should not be expired)
  • Driving License (should not be expired)
  • Aadhaar Card
  • Voter’s ID Card
  • NREGA Job card
  • National Population Register.

Explore Fixed Deposits By Banks

Frequently Asked Questions

What is the highest Punjab and Sind Bank FD rate today?

The highest Punjab and Sind Bank FD rates for general citizens is 7.3% p.a. and 7.8% p.a. for senior citizens.

What is the highest interest rate on Punjab and Sind Bank 1 year FD scheme?

The highest interest rate on Punjab and Sind Bank 1 year FD scheme is 7.1% p.a.

What is Punjab and Sind Bank FD scheme interest rate for 5 years?

6% p.a is the interest rate for 5 years on Punjab and Sind Bank FD scheme.

How many years FD will double in Punjab and Sind Bank?

To know in how many years Punjab and Sind Bank Bank FD will double, we can follow the 72 rule. We have to divide 72 by the interest rate, and the result will be the number of years Punjab and Sind Bank Bank FD will double. The current highest Punjab and Sind Bank FD interest rate is 7.3% so investors will double the investment in 9.86 years. Similarly, senior citizen depositors will double their FD investment in 9.23 years, where the highest FD rate for senior citizens is 7.8%.

What is Punjab and Sind Bank FD minimum deposit amount?

The minimum investment in Punjab and Sind Bank FD is INR 1,000. However, there is no limit on the maximum amount of investment in Punjab and Sind Bank FD.

What is senior citizen fixed deposit interest rates in Punjab and Sind Bank?

The senior citizen fixed deposit interest rates in Punjab and Sind Bank range between 2.8% to 7.8% p.a. for an available minimum and maximum investment duration.

What are the available FD tenures in Punjab and Sind Bank?

Punjab and Sind Bank FD tenure ranges from 7 days to 9 years 11 months 29 days

What is Punjab and Sind Bank FD ROI for 10 lakh deposit for 1 year?

The interest from the Punjab and Sind Bank FD calculator for 10 lakh deposit for 1 year will be INR 73,357. The maturity value will be INR 10,73,357. You can use Scripbox’s FD Calculator to determine the maturity value of your investment.

How to check the fixed deposit balance in Punjab and Sind Bank?

You can check Punjab and Sind Bank FD balance either online or offline mode. For online mode, log in to the Punjab and Sind Bank internet banking portal. Alternatively, you can visit the nearest Punjab and Sind Bank bank to update your passbook for FD balance enquiry.

How many FDs can be opened in Punjab and Sind Bank?

There is no restriction on the number of FDs you can open with Punjab and Sind Bank.