Bank Released New FD Rates: This Bank, one of the major public sector banks, has increased the interest rates on fixed deposits. The rates have already come into effect. 2.80-6.25% interest will be available on FDs ranging from 7 days to 10 years.
Bank FD Rate Hike: The Reserve Bank did not increase the repo rate in April. But despite this, many banks have increased the interest rates on fixed deposits. Recently, among the major public sector banks, Punjab and Sindh Bank has increased the interest rates on FDs. The new rates have also come into effect. Customers can avail this online/by visiting the bank branch.
The bank is paying interest ranging from 2.80 per cent to 6.25 per cent on FDs ranging from 7 days to 10 years. Three special FDs have been offered, on which a good amount of interest will also be available. 7.10 percent interest is being offered on 400 days special FD scheme, 7.35 on 555 days FD and 7 percent on 601 days FD.
Senior citizens are getting more interest on Fixed Deposit. Senior citizens will get 0.50 percent more interest. On the other hand, very senior citizens will get 0.15 percent more benefit. 2.8% on FDs of 7-30 days, 3.00% on FDs of 31-45 days, 4.60% on FDs of 46-90 days, 4.75% on FDs of 91-179 days and 6.00% on FDs of 180-364 days Apart from this, 6.40 percent interest is being received on fixed deposits of 1 year to 399 days.
