Fixed Deposit: Punjab and Sind Bank hiked the interest rates on fixed deposits. According to the official website of the bank, The new rates are in effect from February 21,2023. Punjab and Sind bank decides to increase interest rate of FD after Reserve Bank of India (RBI) hikes repo rate by 25 basis point.
Punjab and Sind Bank revised rates on FD
The bank is now offering interest rates between 2.80 percent to 6.75 percent on fixed deposits of selected tenure. To combat the effect of global inflation, In last 8 months RBI has hiked repo for several times. The new interest rates are eligible for Fixed deposits of up to 2 crore Rupees.
New interest rates
7-14 Days – 2.8 Percent
15-30 Days – 2.8 Percent
31-45 days – 3 percent
46 -90 days – 4.75 percent
91-120 days – 5.1 percent
121-150 days – 5.1 percent
151- 179 days – 5.1 percent
180-269 days – 6.1 percent
270-364 days – 6.1 percent
1 year – 2 years 6.4 pecent
Above 2 years – 6.75 percent
3 years – 5 years – 6.25 percent
5 years – 10 years – 6.25 percent
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