Punjab and Sind Bank FD Rates & Calculator

• PSB Tax Saver Deposit Scheme

• PSB Flexi Savings Deposit Product

• PSB Nanhe Chaman Term Deposit

• PSB Grih Lakshmi Fixed Deposit Scheme

• Special Rate for Special Days (SRSD-1051)

• PSB Fabulous 300 Days

• PSB Fabulous Plus 601 Days

• PSB e-Advantage Fixed Deposit

1. Capital Gain Deposit Scheme

• You can get an exemption from capital gains with this scheme if you deposit the capital gain amount or the net consideration in a Public Sector Bank by the date of filing IT returns.

• Special PSB FD rates for senior citizens, ex-staff members, and current employees are not available

2. PSB Tax Saver Deposit Scheme

• With this scheme, you can claim a deduction of up to ₹1.5 Lakh under Section 80C of the Income Tax Act

• You can apply as an individual or a Hindu Undivided Family (HUF)

• Joint accounts are allowed, and one holder may be a minor

• You can start investing with as little as ₹100

• The lock-in period for the PSB tax saver FD is 5 years

• PSB bank FD rates for tax saver FDs range from 6.25–7.25% per annum (see table above)

3. PSB Flexi Savings Deposit Product

• It gives you the benefits of a savings account and a fixed deposit in one product

• You need to maintain a minimum balance of ₹25,000

• Amount above a threshold, ₹50,000 for individuals and ₹2 Lakh for non-individuals, is transferred to a PSB fixed deposit in multiples of ₹5,000. The FD tenor is 46 to 180 days

• You can carry out a reverse sweep and get money in multiples of ₹5,000 from your FD to savings account

• Interest is calculated on daily product basis and compounding is done quarterly

• This Punjab and Sind Bank FD product is for Indian citizens, and you can apply as a regular customer or an employee/ ex-employee

• Units of the linked Flexi Fixed Deposit are renewed automatically

• If you are a savings bank account holder, you can convert to the PSB Flexi Savings Deposit scheme

4. PSB Nanhe Chaman Term Deposit

• Newly born children up to 12 months old can open this FD under guardianship

• Get a rate hike of up to 0.50% over and above the prevailing Punjab and Sind Bank FD rates

• The tenor of the deposit is 60 to 120 months

• There is a facility for automatic renewal at the prevailing interest rate for one year at a time 

• Employees of PSB can benefit from a higher interest rate

• You can avail a loan against deposit for the needs of the minor

• You can start investing with as little as ₹1,000

• The maximum deposit amount is ₹1.5 Crore

• On attaining majority, the minor can receive/ appropriate the proceeds subject FD maturing

5. PSB Grih Lakshmi Fixed Deposit Scheme

• The account is to be opened by a resident woman, who may be a minor or even the primary holder of a joint account

• The tenor of this PSB fixed deposit is 551 days

• You get an additional rate of 0.25% on the PSB FD interest rates for term deposits 

• There is a facility for automatic renewal at maturity for a period of one year at the prevailing FD rate

• Employees can get a higher FD interest rate

• The scheme is valid up to 23 June 2023

• You can invest anything between ₹5,000 and ₹1.5 Crore

6. Special Rate for Special Days (SRSD-1051)

• You can open an account as an individual, a minor, a body of individuals or as an HUF, sole proprietorship, partnership, company, association of persons, etc.

• The tenor of this PSB fixed deposit is 1051 days

• You get an additional rate of 0.25% on the PSB FD interest rates for term deposits 

• The scheme is valid till 23 June 2023

• You get a rate hike of 0.25% if you invest online

• Employees can secure a higher FD interest rate

• You can invest anything between ₹25,000 and ₹1.5 Crore

7. PSB Fabulous 300 Days

• You can open an account as an individual, a minor, a body of individuals or as an HUF, sole proprietorship, partnership, company, association of persons, etc.

• The deposit has a tenor of 300 days

• The scheme is valid till 31 March 2023

• You benefit from special PSB FD rates, that is, 5.25% for the general public, 5.75% for senior citizens, and 6.10% for super senior citizens 

• Interest is calculated as quarterly product basis

• Employees can get a higher FD interest rate

• You can start investing with as little as ₹5,000 and go up to ₹1.99 Crore

8. PSB Fabulous Plus 601 Days

• You can open an account as an individual, a minor, a body of individuals or as an HUF, sole proprietorship, partnership, company, association of persons, etc.

• The deposit has a tenor of 601 days

• The scheme is valid till 31 March 2023

• You benefit from special PSB FD rates, that is, 7% for the general public, 7.5% for senior citizens, and 7.85% for super senior citizens 

• Interest is calculated as quarterly product basis

• Employees can get a higher FD interest rate

• You can start investing with as little as ₹5,000 and go up to ₹1.99 Crore

9. PSB e-Advantage Fixed Deposit

• This is a digital-only Punjab and Sind bank FD

• You must open this FD through the bank’s PSB UnIC Mobile app 

• You can open an account as an individual or a body of individuals or as an HUF, sole proprietorship, partnership, company, association of persons, etc.

• The deposit tenor is 601 days

• The scheme is valid up to 31 March 2023

• You benefit from special PSB FD rates, that is, 7.25% for the general public, 7.75% for senior citizens, and 8.10% for super senior citizens 

• You can have a joint account under this scheme

• You must withdraw proceeds through the PSB UnIC Mobile app

• The minimum deposit is ₹1,000 and the maximum is ₹1.90 Crore

Having considered the features and benefits of the Punjab Sind Bank FD, begin building a secure future. To diversify your portfolio or invest in FDs from other leading issuers, invest through Bajaj Markets. 

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