NEWS & ADVICE : FIXED DEPOSITS
Deposit rates raised by Punjab & Sind Bank
By Neelima Shankar
Mar 1, 2011
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Public sector lender, Punjab & Sind Bank has increased interest rates on fixed deposits by as much as 100 basis points across various maturities.

For deposits upto Rs 1 crore, maturities of 46-90 days will now have interest of 6.5%, a 100 bps hike over previous rates.

PSB Fixed Deposit Tax Saver Scheme will also see a revision in interest rates by 55 bps to 9.05%.

The revised rates have come into effect from February 26, 2011.

The step by the bank follows many peers like Kotak Mahindra Bank, Dhanlaxmi Bank, ICICI Bank to name a few.


 


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