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## PSB FD Interest Rates on Domestic/NRO/Capital Gain Accounts Scheme 1988 deposits of less than Rs 2 crore - General Public

Tenure | Regular Citizens |

7-14 days | 2.80* |

15-30 days | 2.8 |

31-45 days | 3 |

46-90 days | 3.8 |

91-120 days | 3.95 |

121-150 days | 4 |

151-179 days | 4 |

180-269 days | 4.5 |

270-364 days | 4.65 |

1 year- 2 years | 5.65 |

Above 2 years – less than 3 years | 5.8 |

3 years – 5 years | 5.75 |

Above 5 years – 10 years | 5.75 |

Note: The FD interest rates are effective as of 22 August 2022

## PSB FD Interest Rates on Domestic/NRO/Capital Gain Accounts Scheme 1988 deposits of less than Rs 2 crore - Senior Citizens

Tenure | Senior Citizens |

7-14 days | 2.8 |

15-30 days | 2.8 |

31-45 days | 3 |

46-90 days | 3.8 |

91-120 days | 3.95 |

121-150 days | 4 |

151-179 days | 4 |

180-269 days | 5 |

270-364 days | 5.15 |

1 year- 2 years | 6.15 |

Above 2 years – less than 3 years | 6.3 |

3 years – 5 years | 6.25 |

Above 5 years – 10 years | 6.25 |

Note: The FD interest rates are effective as of 22 August 2022

## PSB Fixed Deposit Tax Saver Scheme - General Public

Tenure | Regular Citizens |

5 years | 5.75 |

## PSB Fixed Deposit Tax Saver Scheme - Senior Citizens

Tenure | Senior Citizens |

5 years | 6.25 |

## Interest Rates on FCNR (B) Deposits

Tenure | EURO | GBP | USD | JPY | CAD | AUD |

1 year to less than 2 years | 0.05 | 2.39 | 3 | – | 2.06 | 1.6 |

2 years to less than 3 years | 0.1 | 2.2 | 2.9 | – | 2.96 | 2.05 |

3 years to less than 4 years | 0.15 | 2.2 | 2.7 | – | 2.8 | 2.1 |

4 years to less than 5 years | 0.15 | 2.2 | 2.6 | – | 2.7 | 2.15 |

5 years | 0.15 | 2.2 | 2.5 | – | 2.5 | 2.2 |

Note: The FD interest rates are effective as of 1 September 2022

## Interest rates on RFC Deposits

Tenure | 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 | – |

Note: The FD interest rates are effective as of 17 May 2022

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## Punjab and Sind Bank FD Calculator

It is always a smart decision to invest your savings into fixed deposits. Fixed deposits offer higher interests and other features to maximise your returns. Punjab and Sind Bank offer FDs at attractive interest rates with multiple features.

Punjab and Sind Bank fixed deposit interest rate ranges from 2.80% to 6.25% for FD deposit amounts below ₹2 crore for general citizens. You can start investing with a minimum of ₹1,000 and start earning annual interest on your deposited amount. However, the accrued interest may vary depending on the tenure you opt for. You can consider calculating the fixed deposit returns before investing for a particular tenure.

## Punjab and Sind Bank Fixed Deposit (FD) Calculator

With Punjab and Sind Bank fixed deposits you can earn interest against tenure of minimum 7 days to maximum 10 years. The longer the investment term you choose, the higher interest you can earn on your fixed deposit. It is necessary to choose the investment tenure after calculating the returns carefully. However, the formula for interest calculation is a bit complex and involves miscalculation risks when computed manually.

Using an online FD calculator can help you determine the exact maturity amount effortlessly. With this tool, you can alter the Punjab and Sind Bank fixed deposit rates as per the changes in tenure and compare returns for different schemes. Resultantly, you can choose a suitable tenure and invest accordingly.

**Here’s more about this fixed deposit calculator! **

## How Does the Punjab and Sind Bank FD Calculator Work?

Punjab and Sind Bank fixed deposit calculator is an online tool that works in the following steps:

1. First, enter the principal amount that you want to invest in a fixed deposit account on “Total Investment” tab

2. Next, select a suitable tenure by dragging a purple line under “Number of years” space or manually enter the investment tenure

3. End the process by entering an appropriate interest rate according to the investment term

You can check the result on this same page on the right side. It will display the maturity amount and interest earned against your fixed deposit investment.

When you choose an investment tenure below 1 year, simple interest formula is applicable. Otherwise, you can use the compound interest formula.

Take a look at both formulas:

**Simple interest **

M = P+ (PXRXT/100)

The letters in the above formula are used to represent the following:

‘M’ = maturity amount

‘P’ = principal amount (the amount you have invested)

‘R’ = annual rate of interest

‘T’ = term of investment

**Compound interest **

A = P (1 + r/n) ^ n*t

In the above formula, ‘A’ and ‘P’ stands for the amount received on maturity and invested initially, respectively.

‘n’ represents the number of times interest is compounded (it can be monthly, quarterly, half-yearly, and yearly)

‘r’ stands for the accrued interest rate

‘t’ denotes the investment tenure or term

An FD calculator uses this formula for calculating the interest returns but it is optimised for hassle-free usage.

## Benefits of a Punjab and Sind Bank FD Calculator Online

Punjab and Sind Bank FD calculator is beneficial to every investor in several ways. Here are the most mentionable advantages of this tool:

- Calculates accurate results without much turn-around time
- Known for fast and easy calculation process
- Helps determine your investment goals efficiently
- Improves your financial decision-making capability
- Does not ask for any details of the person using it
- Can be used multiple times free of cost
- Can be accessed at any time and from any place, if you have a stable internet connection and a smart device

With the Upstox fixed deposit calculator, you can opt for a seamless calculation of fixed deposit returns. It is designed with a user-friendly interface to enhance your experience and help you plan your investment conveniently. You no longer need to involve any intermediaries while taking investment decisions. This online tool helps you compare various FDs and choose a suitable one.

## Frequently Asked Questions

### What is the highest interest rate on Punjab and Sind Bank FD?

Punjab and Sind Bank offer a maximum interest of 6.25% for a tenure above 2 years and less than 3 years. This interest rate is applicable for investment amounts below ₹2 crore.

### What is the minimum deposit amount for FDs at Punjab and Sind Bank?

You can start investing in Punjab and Sind Bank FDs with a minimum amount of ₹1,000.

### Do we have a premature withdrawal facility on Punjab and Sind Bank FD?

The bank shall allow you to withdraw your FD before maturity, but they will have the authority to apply a penalty as per their rules.

### Can I deposit an additional amount into my already existing FD?

An additional amount cannot be deposited in an already existing fixed deposit account.

### Can a Punjab and Sind Bank FD account be closed online?

You need to visit the branch where you have opened the account for closing it. An account opened online can only be closed online.

### Who are eligible to open an FD account in Punjab and Sind Bank?

Any Indian individuals, partnership firms, sole proprietors, HUFs, Private and Public Ltd. companies, Trusts, Societies, etc. can open an FD account in Punjab and Sind Bank.

### What is the lock-in period for Tax Saving Scheme?

The lock-in period for a Tax Saving FD Scheme from Punjab and Sind Bank is 5 years.

### Are there any special rates for senior citizens?

Senior citizens are eligible for an additional 0.50% interest on the regular rates. For instance, the minimum interest rate for a general citizen is 2.80% but it will be 3.30% for a citizen above 60 years of age.

Disclaimer:

This calculator is meant to be used for indicative purposes only. It is designed to assist you in determining the appropriate amount of prospective investments. This calculator alone is not sufficient and shouldn’t be used for the development or implementation of any investment strategy. Upstox does not take the responsibility/liability nor does it undertake the authenticity of the figures calculated therein. Upstox makes no warranty about the accuracy of the calculators/reckoners. The examples do not claim to represent the performance of any security or investments. In view of the individual nature of tax consequences, each investor is advised to consult his/her own professional tax advisor before making any investment decisions on the basis of the results provided through the use of this calculator.