Punjab & Sind Bank RD Interest Rates 2025
The Recurring Deposit (RD) account offered by Punjab & Sind Bank can be opened by religious and charitable institutions, Co-operative societies, government and semi-government bodies, Associations, clubs, companies, firms, and individuals (either singly or jointly).
The tenure of the RD account ranges between 6 months and 10 years. The minimum amount that must be deposited in the account is Rs.10.
Punjab & Sind Bank also offers attractive interest rates on its RD account.
Punjab & Sind Bank RD account Interest Rates
Tenure | Rate of Interest |
180 days to 269 days | 6.40 |
270 days to 364 days | 6.40 |
1 year to 2 years | 6.45 |
Above 2 years but less than 3 years | 6.45 |
3 years to 5 years | 6.45 |
Above 5 years and up to 10 years | 6.45 |
Note: Senior citizens are provided an additional rate of 0.50% on deposits less than Rs.2 crore.
Punjab & Sind Bank Short-Term Recurring Deposit Interest Rates
An RD account opened with Punjab and Sind Bank for a period that ranges between 180 days and 2 years falls under the bracket of short-term RDs.
The interest paid by the bank on such deposits is in the range of 6.40% to 7% p.a. Senior citizens are offered additional interest of 0.50% p.a. on short-term recurring deposits.
Punjab & Sind Bank Medium-Term Recurring Deposit Interest Rates
Medium-term recurring deposits are those which have a tenure that ranges above 2 year and up to 5 years. The rate of return offered by the bank is between 6.55% to 6.80% p.a. The bank offer citizens who are above the age of 60 years an interest rate of 7.05% to 7.30% p.a. for opening a medium-term RD account with them.
Punjab & Sind Bank Long-Term Recurring Deposit Interest Rates
A long-term recurring deposit is one that is opened for a period of more than 5 years. Punjab and Sind Bank offer general citizens interest of 6.55% p.a. on long-term RDs. Senior citizens are offered 7.05% p.a. for opening a long-term Recurring deposit.
RD Article Pages
- Recurring Deposit Vs. Chit Fund
- Miss to Pay the Recurring Deposit Due
- Difference Between Recurring Deposit and SIP
- Open RD Account through HDFC NetBanking
- RD Account in SBI
- Advantages of Recurring Deposit
- Flexi RD
- SBI Flexi RD Schemes
- Monthly Recurring Deposit
- Indian Bank Recurring Deposit
- Union Bank Recurring Deposit
- UCO Bank Recurring Deposit
FAQs on Punjab & Sind Bank RD Interest Rates
- What is the minimum tenure of the RD account offered by Punjab & Sind Bank?
The minimum tenure of the RD account offered by Punjab & Sind Bank is six months.
- What is the maximum amount that can be deposited in a Punjab & Sind Bank Recurring Deposit account every month?
There is no limit to the amount that can be deposited in a Punjab & Sind Bank Recurring Deposit account every month.
- Are companies eligible to open an RD account offered by Punjab & Sind Bank?
Yes, companies can open an RD account offered by Punjab & Sind Bank.
- Is there a minimum amount that must be deposited in a Punjab & Sind Bank Recurring Deposit account every month?
Yes, at least Rs.10 must be deposited in a Punjab & Sind Bank Recurring Deposit account every month.
News about Punjab & Sind Bank RD Rates
Punjab & Sind Bank adjusts FD rates and introduces special Tenure
Punjab & Sind Bank (PSB) has recently adjusted its fixed deposit (FD) interest rates for deposits below Rs.2 crore (applicable from 1 February 2024). The revised FD interest rates range from 2.80% to 7.40%. Additionally, senior citizens are entitled to an extra 0.50% interest on term deposits below Rs.2 crore, specifically for maturities of 180 days and above, with the highest interest rate for seniors being 7.90%. However, this benefit does not extend to NRE, NRO deposits, capital gains, and bulk deposits. Starting from 1 February 2024, the bank has introduced a special FD tenure with increased interest rates for a limited period. The rates for various maturity periods vary, with the highest interest rate being 7.40% for a special tenure of 444 days. Super senior citizens (80 years & above) can avail themselves of an additional 0.15% interest on a specific tenure of 444 days for term deposits below Rs.2 crore. This special FD scheme is available until 31 March 2024, allowing super senior citizens to enjoy the highest interest rate of 8.05% on the 444-day tenure.
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