Punjab and Sind BankFixed Deposit

• A fixed deposit program can be established for a term ranging from 15 days to 10 years, with interest paid weekly.

• This is a reinvestment plan in which the interest is compounded. The interest payable will be compounded regularly and paid along with the principal amount when the account matures. The term provided spans from three to ten years.

You may create a fixed deposit account for a short length of time here, with terms ranging from 6 months to 3 years.

Under this plan, you as a taxpayer can benefit from capital gains exemption if the capital gain amount is placed in a bank on or before the due date of filing your income tax return.

• Farmers can use this program to invest their funds at the end of each crop. Each year, a minimum of Rs.1,000 can be placed before the 30th of June and the 31st of December.

• The tax-saving fixed deposit program is available for a 5-year term.

The short-term deposit ranges from 7 days to 364 days or lesser, and the interest rates are 3% to 4.50% for general customers and 3% to 5% for senior citizens.

The medium-term deposit ranges from 12 months to 60 months, ad the interest rates are from 5.15% to 5.30% for a general customer and 5.65% to 5.80% for senior citizens.

A long-term deposit is from 60 months 1 day to 120 months, and the interest rate offered to a general customer is 5.30% and a senior citizen is 5.80%.