Punjab & Sind Bank offers FD interest rates of 2.80-7.40% p.a. to regular citizens and 2.80-7.90% p.a. to senior citizens on tenures ranging from 7 days to 10 years. The interest rate on Punjab & Sind Tax Saving FDs is 6.00% p.a. for the general public and 6.50% for senior citizens. The bank also offers various fixed deposit products for NRIs, such as NRE, NRO, RFC and FCNR (B) fixed deposits. Punjab & Sind Bank accepts FCNR (B) fixed deposits in US Dollars (USD), British Pound Sterling (GBP), Euro (EURO), Japanese Yen (JPY), Canadian Dollar (CAD), and Australian Dollar (AUD). The bank accepts RFC fixed deposits in EURO, GBP, USD, and JPY.
Punjab & Sind Bank Fixed Deposit (FD) Interest Rates (p.a.) |
|
Highest slab rate | 7.40% (for 444 days) |
For 1 year | 6.40% |
For 2 years | 6.20% |
For 3 years | 6.00% |
For 4 years | 6.00% |
For 5 years | 6.00% |
Tax-Saving FD | 6.00% |
The interest rates are updated as of 4 October 2023
Punjab and Sind Fixed Deposit Interest Rates 2023
PSB FD Interest Rates on Domestic/NRO/Capital Gain Accounts Scheme 1988 deposits of less than Rs 2 crore w.e.f. 1 October 2023
Tenure | Interest Rates (% p.a.) | |
Regular Citizens | Senior Citizens | |
7-14 days | 2.80* | 2.80 |
15-30 days | 2.80 | 2.80 |
31-45 days | 3.00 | 3.00 |
46-90 days | 4.60 | 5.10 |
91-120 days | 4.75 | 5.25 |
121-150 days | 4.75 | 5.25 |
151-179 days | 4.75 | 5.25 |
180-269 days | 5.50 | 6.00 |
270-332 days | 5.50 | 6.00 |
333 days | 6.50 | 7.00 |
334 days – less than 1 year | 5.50 | 6.00 |
1 year | 6.40 | 6.90 |
Above 1 year- 443 days | 6.20 | 6.70 |
444 days | 7.40 | 7.90 |
445 days – 554 days | 6.20 | 6.70 |
555 days | 7.35 | 7.85 |
556 days-2 years | 6.20 | 6.70 |
Above 2 years – less than 3 years | 6.50 | 7.00 |
3 years – 5 years | 6.00 | 6.50 |
Above 5 years – 10 years | 6.25 | 6.75 |
Notes: 1. An additional 0.50% rate is offered to senior citizens for the maturity of 180 days & above
- Senior citizen’s preferential rates are not applicable to NRO and NRE deposits
- *Minimum deposit should be Rs 1 lakh
- Additional 0.15% interest rate is offered to super senior citizens (aged 80 years & above) on tenures 333 days; 444 days; and 555 days
- **Valid till 30 September 2023
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PSB Fixed Deposit Tax Saver Scheme
Tenure | Interest Rates (% p.a.) | |
Regular Citizens | Senior Citizens | |
5 years | 6.00 | 6.50 |

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Interest Rates on FCNR (B) Deposits w.e.f. 1 April 2023
Tenure | Interest Rates (% p.a.) | |||||
EURO | GBP | USD | JPY | CAD | AUD | |
1 year to less than 2 years | 0.50 | 3.75 | 4.75 | – | 4.25 | 2.50 |
2 years to less than 3 years | 0.15 | 2.25 | 3.25 | – | 3.00 | 2.00 |
3 years to less than 4 years | 0.15 | 2.20 | 2.80 | – | 2.75 | 1.80 |
4 years to less than 5 years | 0.15 | 2.20 | 2.70 | – | 2.50 | 1.80 |
5 years | 0.15 | 2.20 | 2.60 | – | 2.50 | 1.80 |
Interest rates on RFC Deposits w.e.f. 17 May 2022
Tenure | Interest Rates (% p.a.) | |||
EURO | GBP | USD | JPY | |
1 year to less than 2 years | 0.07 | 1.89 | 1.53 | – |
2 years to less than 3 years | 0.27 | 2.24 | 1.93 | – |
3 years | 0.42 | 2.39 | 2.18 | – |

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Types of Punjab and Sind Bank FD Schemes
PSB Fixed Deposit Schemes
- Tenure: 7 days – 10 years
- Automatic renewal facility is restricted up to the maturity value below Rs. 2 crores
- Nomination facility is available
- Additional 0.50% p.a. interest rate is offered to senior citizen FD depositors from tenure 46 days to 10 years
PSB Fixed Deposit Tax Saver Scheme
- Deposits are eligible for a tax deduction of up to Rs 1.5 lakhs in a financial year under section 80C of the Income Tax Act
- Minimum amount of deposit: Rs 100
- Lock-in period: 5 years
- Nomination facility is available

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Foreign Currency (Non-Resident) Account (Banks) Scheme – FCNR (B) Account
- Depositors can hold deposits in any of these currencies: US Dollar (USD), Pound Sterling (GBP), Euro (EUR), Australian Dollar (AUD) and Canadian Dollar (CAD)
- Tenure: 1 year – 5 years
- Nomination facility is available
- The funds maintained in this account are repatriable
Non-Resident (External) Rupee Account Scheme – NRE Account
- Nomination facility is available
- The funds in this account are repatriable
Non-Resident Ordinary Rupee Account Scheme (NRO Account)
- Nomination facility is available
- Funds in this account are not repatriable except in the following cases:
- Current income
- Up to USD 1 million per financial year, for any bonafide purpose, out of the balances in the account, e.g., sale proceeds of assets in India acquired by way of purchase/inheritance/legacy inclusive of assets acquired out of settlement subject to certain conditions.

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FD Calculator
Fixed Deposit Calculator can be used to check the interest and maturity amount that the depositor shall get on maturity. Since FD interest rates keep on changing, it is highly advisable to check the maturity amount as per the prevailing interest rates before investing in a fixed deposit.
The tool requires minimal information including the deposit amount and tenure for which this amount is to be deposited. Along with these two inputs, customers need to provide the rate of interest too on which the maturity amount will be calculated.