This govt bank launches 5 unique special fixed deposit (FD) schemes

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Punjab & Sind Bank (PSB), one of the top public sector lenders, has launched 5 different special fixed deposit (FD) schemes with unique benefits. PSB Special Rate for Special Days (SRSD-1051), PSB The Power of 400 Days, PSB Investment Plus-501 Days, PSB Fabulous 300 Days and PSB Fabulous Plus 601 Days are the 5 different special fixed deposit schemes that Punjab & Sind Bank has launched for its customers for a limiter period of time.

PSB Special Rate for Special Days (SRSD-1051)

This special FD has a tenor of 1051 days, and the programme is valid until June 23, 2023. Individuals: Resident Individuals, including minors, can open this account. Under this plan, customers will get 25 bps higher than the applicable interest rates for the term deposit scheme for the specified period. The available modes of account operation include single operation, joint operation, operation through a power of attorney, etc.

A minimum deposit of Rs. 25000, in multiples of Rs. 5000, and a maximum limit of 1,50,00,000/- are required to open the account. Customers can make use of services including the nomination option, account transfer, and premature withdrawal/closure subject to penalties after effectively creating an account.

PSB The Power of 400 Days

This special FD comes with a maturity period of 400 days only and the scheme is valid upto 31st December 2022. The Punjab & Sind Bank (PSB) offers a special rate of Interest, which is a flat 5.80% (per year) for the general public, and senior citizens benefit in terms of an additional rate of interest available under this plan.

The minimum deposit amount to open an account is 25,000 (over 25,000 in multiples of 5000, 10,000), and the maximum deposit limit is 1,50,00,000/-. All branches are permitted to register accounts under this plan. PSB The Power of 400 Days Special FD scheme also comes with auto-renewal and nomination facility.

PSB Investment Plus-501 Days

The “PSB investment Plus-501 Days” special FD scheme has a 501-day maturity period and is in effect till December 1, 2022. Resident individuals including minors, Body of individuals can open this account. Under the scheme, there is a special rate of Interest, or fixed rate of 6.10% (Annually), with senior citizen benefit in the form of an additional rate of interest. A minimum amount of 5,000/- and above in multiples of 1000/- with a maximum limit of 1.99 Crore is required to open this special FD.

PSB Fabulous 300 Days

As the name implies, the “PSB Fabulous 300 Days” special FD plan has a 300-day maturity term. The scheme is in effect until March 31, 2023. The Punjab & Sind Bank (PSB) is offering a special rate of interest under the programme, which is 5.25 % (Per annum) for the general public, 5.75 % (Per annum) for senior citizens, and 6.10 % (Per annum) for super senior citizens.

‘Super Senior Citizen customer’ implies “A person of Age 80 Year and above”. Such customer/ex-staff is entitled to get 35 basis (under this Fixed Deposit Scheme) over and above of applicable rate of interest for senior citizen customer” mentioned PSB on its website.

These interest rates will be determined on a quarterly basis. The scheme’s available modes of account operation include single operation, joint operation, operation through a power of attorney, etc. Under this plan, accounts may be opened at any branch. The minimum deposit amount is restricted to 5,000 and higher in multiples of 1000, while the maximum deposit amount is restricted to 1.99 Crore.

PSB Fabulous Plus-601 Days

“PSB Fabulous Plus-601 Days” as the name implies comes with a specific maturity period of 601 Days only and the scheme is valid till 31 March 2023. Under the scheme, Punjab & Sind Bank (PSB) offers a special interest rate of 7 % (Per annum) for the general public, 7.50 % (Per annum) for senior citizens and 7.85 % (Per annum) for super senior citizens.

“Super Senior Citizen customer’ implies “A person of Age 80 Year and above”. Such customer/ex-staff is entitled to get 35 basis (under this Fixed Deposit Scheme) over and above of applicable rate of interest for senior citizen customer,” mentioned PSB on its website.

These interest rates shall be calculated on a quarterly basis by the bank. The scheme’s available modes of account operation include single operation, joint operation, operation through a power of attorney, etc. The minimum deposit amount is restricted to 5,000 and higher in multiples of 1000, while the maximum deposit amount is restricted to 1.99 Crore.

PSB Special FD Rates

The rate of interest applicable on PSB Special Fixed Term Deposit Schemes are as follows.

PSB Special FD Rates

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PSB Special FD Rates (punjabandsindbank.co.in)

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