Get the information on the Fixed Deposit Rates in Punjab and Sind Bank. Know your maturity amount with the Punjab and Sind Bank FD Calculator in the very easy method mentioned on this page. Get down the page and make use of the Interest rates on fixed deposits in Punjab and Sind Bank.
Punjab and Sind Bank FD Calculator
Online FD Calculators can help you to compute the interest amount that you earn on your principal amount. Several online websites maintain the user-friendly FD calculators to instantly calculate the interest. Similarly, the Punjab and Sind Bank offers a very easy way of calculating your FD maturity amount.
Using the Punjab and Sind Bank FD calculator online aids you in determining the amount of money to save and invest by eliminating the manual calculations. But you can also know your interest and maturity amount on the principal amount from the below formulae.
Calculate Punjab and Sind Bank FD Rate
A = P × (1+r/n)at
I = A – P
A = Maturity amount
P = Principal value
r = Interest Rate
t = Number of years
n = Frequency of compound interest
I = interest earned
Apart from this manual calculation, you can use the online Punjab and Sind Bank FD Calculator in a very easy way. Here is the process.
How to Use Punjab and Sind Bank FD Interest Rates Calculator?
To calculate Punjab & Sind Bank Fixed Deposit Interest and your maturity amount using the Punjab and Sind Bank FD rates calculator, here is the process.
- Calculate the interest rate by clicking the link Punjab and Sind Bank Interest Calculator.
- Instead, you can also visit the Punjab and Sind Bank official website.
- Then start entering your details of maturity period, frequency, the rate of interest, deposit amount, etc. on the Punjab and Sind Bank FD Calculator.
- Check for any wrong entered details and then click the icon of continue.
- The calculator then displays your maturity amount on your screen within a few seconds.
Punjab and Sind Bank FD Rates as on Today
|Punjab and Sind Bank Interest Rates on FD for Less than Rs.1crore ( revised on March 3, 2017)|
|Tenure Period||Regular FD Rates||Senior Citizen FD Rates|
|7 Days to 14 Days||4.00%||4.50%|
|15 Days to 30 Days||4.00%||4.50%|
|31 Days to 45 Days||5.10%||5.60%|
|46 Days to 90 Days||5.60%||6.10%|
|91 Days to 150 Days||6.10%||6.60%|
|151 Days to 179 Days||6.10%||6.60%|
|180 Days to 269 Days||6.60%||7.10%|
|270 Days to 364 Days||6.85%||7.35%|
|1 year to 2 Years||7.00%||7.50%|
|2 Years to 3 Years||7.10%||7.60%|
|3 Years to 5 Years||7.10%||7.60%|
|5 Years to 10 Years||7.10%||7.60%|
Punjab and Sind Bank NRE Fixed Deposit Rates 2017
|NRE Interest Rate on FD in Punjab and Sind Bank|
|Tenure Period||Interest Rates below 1 crore|
|1 Year to 2 Years||7.10%|
|2 Years to 3 Years||7.00%|
|3 Years to 5 Years||7.00%|
Rate of Interest on PSB Fixed Deposit in Tax-Saver Scheme
|PSB FD Rate of Interest for 5 years|
|General Pulic||Senior Citizens||Staff & Ex-staff members (General and Senior citizens)|
Punjab and Sind Bank Fixed Deposit Rates for Senior Citizens
Special Punjab and Sind Bank Senior Citizen FD Rates are marginally high than regular FD Rates. The bank provides extra benefits for the retired bank members too. As of today, the Punjab & Sind Bank Senior Citizen FD Rate of Interest is 0.50% greater for deposits less than Rs.1crore and 180 + days maturity.
PSB Fixed Deposit Rate – FD Rate in India
A fixed deposit account is the most popular investment process for conserving investors all over the nation. It is the traditional form of savings account which yields the higher rate of interest than a savings account. Moreover, it is a safe and reliable investment option as it ensures you a guaranteed return and minute risks. If there is any idle money, then opening a Punjab and Sind Bank FD Account is the safest way to earn good returns in the form of interests.
Before opening and FD account in the PSB, you can opt how much amount you want to deposit and the maturity period. The Punjab and Sind bank fixed deposit tenures ranges from seven days to ten years.
However, like the other banks, the Punjab and Sind Bank interest rates are set by itself according to its norms. The Punjab & Sind Bank FD rates of interest depend on deposit amount, tenure period, and other factors. The FD rates in India generally varies from 4% to 8% per a year.
Fixed Deposits of Punjab and Sind Bank
The rate of interest on fixed deposits differs with the deposit amount, tenure period, and the bank itself. The general unwritten rule is, longer the term deposit, higher the interest rate. However, any bank can offer a lower rate of interest even for longer tenures if it expects the rates to fall in the future. So, the Punjab and Sind Bank Interest Rates range from 3% to 8% per a year.
Once your tenure period matures, the bank credits your initial deposit along with the amount of interest. Also, you should know that once you deposit some amount in your FD, it cannot be withdrawn in the middle. Moreover, a premature withdrawal of deposit may lead to the payment of a penalty.
How to Open an FD Account in PSB?
The Punjab and Sind Bank fixed deposit account opening involves two processes of online and offline. Below is the step by step processes of opening a new FD account in Punjab and Sind Bank.
Punjab and Sind Bank Online FD Account Opening
- Visit the Punjab and Sind Bank Official Website, www.psbindia.com
- Search for Punjab and Sind Bank FD Account Opening Form and download it.
- Fill in your details carefully and save them.
- Recheck for any mistakes in the form and submit it.
- Through Punjab and Sind Bank Internet banking, deposit a minimum amount of Rs.1000.
- Meanwhile, the FD account gets activated.
Or you can also use the offline process as stated below.
Punjab and Sind Bank FD Application – Offline
- Get the Punjab and Sind Bank FD Account Opening form from the bank.
- Fill in the details carefully in the form.
- Submit the form along with the KYC documents attached to the form.
- Meanwhile, you should deposit a minimum amount or Rs.1000 to open an FD account.
- After the completion of verification, the bank activates your FD account.
- Then you can invest any amount and calculate the maturity amount using the Punjab and Sind Bank FD Calculator.
To know more details on account opening, click the below link
Eligibility to Open an FD Account with PSB
- Any individual who is an Indian resident or an NRI.
- Minors above the age of ten years under the parents’ guidance.
- Organizations like companies, trusts, and associations.
- Punjab and Sind Bank employees.
FD Premature Withdrawal in Punjab and Sind Bank
Whatever the situation at the time of deposit, there comes a time of crisis where you need to break the maturity period. The premature withdrawal will be charged a nominal penalty. Moreover, it allows a partial or full withdraw from your FD. The details of penalty will be intimated to you at the time of FD application. However, you can use the Punjab and Sind Bank FD Calculator to know your interest amount for the maturity period. This helps you to decide whether to withdraw the amount or not.
For certain kinds of deposits like Tax Saving Scheme, you cannot break the lock-in period of 5 years. So, you are not allowed for a premature withdrawal before the period matures. So, be clear on the rules of Punjab and Sind bank deposit rates and its withdrawal at the time of application.
Features of Fixed Deposit in Punjab and Sind Bank
- The Punjab and Sind Bank FD Interest Rates reaches to 7.00% per annum.
- Punjab and Sind Bank Interest on deposits are compounded for every quarter year.
- The minimum deposit amount in the bank is Rs.1000.
- Loans of 90% against FD and you cannot obtain a loan against FD from another bank.
- The rate of interest on FD loans is 0.5% to 2% over FD rate.