FD Update: Shock to crores of customers, this big bank reduced interest rates on FD..

FD interest rates: Many banks across the country provide people with the option of investing in FD. These give returns at different interest rates according to different periods. Many banks have fixed different interest rates for general citizens and senior citizens (best FD for senior citizens).

A big bank in the country has cut the fixed interest rates of FD (high interest rate FD). This has given a big shock to the bank customers. Now the customers will not be able to get the same returns as before. If you are also a customer of this bank, then you need to know about this.

This bank has reduced interest rates-

Punjab & Sindh Bank has reduced the interest rate on its regular FD (Punjab & Sindh Bank regular FD) i.e. FD of three crores. Every Indian, NRI, and NRO (Non-Resident Ordinary) can invest in it. Now investing in this FD for a period of 7 to 30 days will get interest at the rate of 3.50 percent. If this investment is made for 31 to 45 days, then 4 percent interest will be given.

The longer the period, the higher the interest (Punjab & Sindh Bank FD interest rate). In this FD, a 4.50 percent interest rate will be given on a fixed deposit for 46 to 90 days. Apart from this, 4.50 percent interest will be given to the customers on making FD for a period of 91 to 179 days. These revised interest rates on regular FD will be applicable from April 1.

Invest in special FD till June 30-

Punjab & Sindh Bank has extended the time to invest in its special FD scheme (Punjab & Sindh Bank special FD) from March 31 to June 30. The bank is currently allowing its customers to invest in special FDs with a period of 375 days and 444 days. In this, a maximum of 8.00 percent interest is being given.

If we talk about 375 days FD, then 7.25 percent interest is being given on it. On FD of 444 days duration (special FD interest rate), the bank is giving 7.10 percent interest to the people. For senior citizens, the bank is giving special facility by giving 0.50 percent more interest and super senior citizens are being given 0.65 percent more interest.

These are the new interest rates on regular FDs-

Maturity period Interest on FD of Rs. 3 crores

7 - 14 days 3.50
15 - 30 days 3.50
31 - 45 days 4.00
46 - 90 days 4.50

91 - 120 days 4.50
121-150 days 4.50
151 - 179 days 6.00
180 - 269 days 5.25
270 - 332 days 5.50
375 days 7.25
376 - 443 days 6
1 year 6.30
1 year - 374 days 6.00
444 days 7.10
445 days to 22 months 6.00
22 months to < 2 years 6.00
2 years to 776 days 6.30
777 days 7.25
778 days to 998 days 6.30
999 days (Callable) 6.40
1000 days -< 3 years 6.30
3 years -< 44 months 6.00
44 months 6.10
5 years 6.50
66 months to 10 years 6.25

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