Punjab & Sind Bank has reduced the interest rates on its fixed deposits (FDs), following the Reserve Bank of India’s decision to lower the repo rate.
This change affects many of its FD schemes. Compared to the rates on January 1, 2025, the interest has been cut by up to 0.15%. However, there’s good news too — the bank has extended the deadline to invest in its special FDs.
Extended Deadline for Special FDs
The deadline for investing in Punjab & Sind Bank’s special fixed deposits has been extended from March 31, 2025, to June 30, 2025.
Along with this, the bank has also revised the interest rates on its regular FDs. These new rates will be effective from April 1, 2025.
Details of Special FDs
Punjab & Sind Bank is currently offering two special FD options:
375 Days FD: Offers 7.25% interest.
444 Days FD: Offers 7.10% interest.
The maximum interest rate for special FDs is 8.00%.
Senior citizens receive an additional 0.50%, and super senior citizens get 0.15% more, totaling 0.65% extra interest.
Interest Rates on Regular FDs
The bank has set different rates for various deposit periods. These rates apply to all Indian residents, NRIs, and NROs.
| Maturity Period | Interest Rate (% per annum) |
|---|---|
| 7 – 14 days | 3.50% |
| 15 – 30 days | 3.50% |
| 31 – 45 days | 4.00% |
| 46 – 90 days | 4.50% |
| 91 – 120 days | 4.50% |
| 121 – 150 days | 4.50% |
| 151 – 179 days | 6.00% |
| 180 – 269 days | 5.25% |
| 270 – 332 days | 5.50% |
| 375 days | 7.25% |
| 376 – 443 days | 6.00% |
| 1 year | 6.30% |
| 1 year to 374 days | 6.00% |
| 444 days | 7.10% |
| 445 days – 22 months | 6.00% |
| 22 months (Green Earth FD) | 6.10% |
| >22 months – <2 years | 6.00% |
| 2 years – 776 days | 6.30% |
| 777 days | 7.25% |
| 778 – 998 days | 6.30% |
| 999 days (Callable/Non-callable) | 6.40% |
| 1000 days – <3 years | 6.30% |
| 3 years – <44 months | 6.00% |
| 44 months | 6.10% |
| >44 months – 5 years | 6.00% |
| 5 years | 6.50% |
| 66 months (Green Earth FD) | 6.35% |
| >66 months – 10 years | 6.25% |