Overview of Punjab & Sind Bank
Punjab & Sind Bank was founded in 1908 with a vision to serve the weaker sections of the Indian society and improve their standard of living. Offering a diverse array of banking products, Punjab & Sind Bank continues to contribute to the economy of the nation with its constant and innovative endeavours. Punjab & Sind Bank caters to different segments of customers with a portfolio comprising of retail banking, international banking along with state-of-the-art internet e-banking and mobile banking services.
Recurring Deposit from Punjab & Sind Bank
Recurring deposits help regular income earners to build up their savings with steady monthly deposits or payments over a certain period of time. Customers can earn a substantial amount of money after maturity of their recurring deposits with attractive interests. Generally when a recurring deposit account is opened, the maturity value is indicated to the customer with applicable interest rates. As a safe investment option recurring deposits also offer tax benefits to employed professionals. Punjab & Sind Bank offers a regular recurring deposit scheme with flexible deposit options and attractive interest rates.
Features of a Punjab & Sind Bank Recurring Deposit
Punjab & Sind Bank customers can open a regular recurring deposit account and enjoy a variety of benefits and significant returns on their investments.
- The minimum deposit amount required for a Punjab & Sind Bank Recurring Deposit account is a very affordable sum of Rs. 10/- per month. The bank does not have a cap on the maximum amount required.
- Customers can choose deposit tenures ranging from a period of six months to maximum of 10 years.
- Any individual can open a Punjab & Sind Bank Recurring Deposit as a single or joint account holder.
- A minor over the age of 10 is also eligible to open a RD account jointly with a guardian operating the account. If the account is maintained by a guardian then a specimen signature of the minor verified by the guardian is required.
- Recurring deposit accounts can be opened by firms, corporates, associations, societies, Government institutions, religious and charitable institutions.
Proof of Identity / Address
- Applicant’s Passport copy
- Voter’s ID card
- Aadhar Card
- Driving License
- PAN Card
- Electricity Bill
- Telephone Bill
- Last three months’ bank account statements
- Latest passport size photo
Interest rate offered on Punjab & Sind Bank’s Recurring Deposit
Punjab & Sind Bank offers recurring deposits at interest rates ranging from 4% to 8% depending on the tenure of the deposit. The interest rates also vary based on the deposit amount which can extend up to Rs 5 Crores and above. The interest rate is generally paid with the principal at the time of maturity and is compounded every quarter for a recurring deposit.
Know the Current Recurring Deposit Rates
- Punjab & Sind Bank Recurring Deposit Rates Comparison with Other Banks and Institutions
- Punjab & Sind Bank Recurring Deposit Interest Rates
Read More Articles On RD
- Flexi Recurring Deposit Schemes
- Which Bank Gives Highest Interest Rate On Recurring Deposit
- Recurring Deposit Interest Rates of All Banks
- Tax on Recurring Deposit Interest Rates
Other Products from Punjab and Sind Bank
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar’s partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.