Punjab & Sind Bank has revised the interest rate on domestic term deposits to 9% for short term period beginning from 7days to 150 days. The rate of interest for 1 year maturity is increased to 9.75% from 9.60% earlier.
The bank has also revised rate of interest for 270 days to 364 days bracket to 9%. For the period above one year to less than three years the bank will be offering 9.50%. For 500 days & 1000 days, rate of interest will be 9.75% and 9.60% respectively. These revised rates shall be effective from March 26, 2012.
Punjab & Sind Bank, which is a GoI undertaking, is one of the six banks nationalized by the GoI in April 1980, and today, is one of 19 nationalized banks in India. In over 100 years of operation, the Bank has significantly grown its branch network with a presence predominantly in north India.
