New FD rates announced by Punjab and Sind Bank; check latest fixed deposits rates here

After consecutive repo rate hikes by the Reserve Bank of India (RBI), banks have been increasing the interest rates on fixed deposits (FDs) and savings accounts since May this year. Banks such as State Bank of India (SBI), Axis Bank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, IDFC First Bank and RBL Bank have hiked interest on term deposits recently. Now, Punjab and Sind Bank has also revised its interest rates on fixed deposits (FDs) and savings accounts. The updated interest rates came into effect from 1 November. The bank provides a maximum interest rate of 5 per cent on savings accounts. For FDs rates 2.8 per cent to 6.1 per cent are being offered on term deposits with maturities ranging from 7 days to 10 years. Know the FD rates: Punjab and Sind Bank will now offer an interest rate of 2.8 per cent on fixed deposits maturing in 7 to 30 days, and will give a rate of 3 per cent on deposits maturing in 31 to 45 days. Deposits maturing in 46 to 90 days will now offer 4 per cent interest, while those that mature in 91 to 120 days will provide 4.2 per cent interest. On deposits maturing in 121 to 179 days, the bank will offer an interest rate of 4.3 per cent, and on deposits maturing in 180 to 269 days, the lender will provide an interest rate of 4.8 per cent. On fixed deposits maturing in 270 to 364 days, the bank will give an interest rate of 5 per cent and on deposits with a maturity of 1 to 2 years, it will now provide an interest rate of 6.1 per cent. Deposits maturing in above 2 to 3 years will fetch 6.25 per cent interest and those maturing in 3 to 10 years are going to give 6.1 per cent interest. In the PSB Fixed Deposit Tax Saver Scheme, which has a maturity period of 5 years, the general public will receive 6.1 per cent interest, and senior citizens will earn 6.6 per cent interest. Current and former staff members will get an interest rate of 7.1 per cent. According to the bank, senior citizens will be given the benefit of additional interest rate of 0.5 per cent on term deposits below Rs 2 crore, over and above the mentioned rates for the maturity of 180 days and more for fresh as well as on a renewal of term deposits. The benefit is not going to be available for NRE and NRO Deposits. Know savings account interest rates: On savings bank deposits of up to Rs 1 crore, the Punjab and Sind Bank will give an interest rate of 2.8 per cent and on savings account balances of above Rs 1 crore to up to Rs 100 crore, it will provide an interest rate of 2.9 per cent. On savings accounts above Rs 100 crore to up to Rs 500 crore, the bank is now giving 4.5 per cent interest and on savings bank deposits of above Rs 500 crore, it is now offering an interest rate of 5 per cent. Read all the Latest News , Trending News ,  Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.