Fixed depositSpeeding Up The Process

(i)

Who can open an account

  • An individual who is not insolvent or insane, can open an account singly or jointly.
  • Such account can be opened in the name of individuals (singly or jointly, Minors (through their guardians) firms, corporate bodies, trusts, Regd. Associations, Joint Hindu family firms and public undertakings.
  • Nomination facility is available for depositors
(ii) Senior Citizens

The Senior Citizes shall be given an addiotional rate of 0.50% on any amount over and above the mentioned rates for deposits with maturity period 180  days & above for fresh and renewed deposits.

(iii) Staff / Ex-staff members

Ex -staff Members are eligible for 1% extra rate of interest, however, please note that if the Ex-Staff Member is also a Senior Citizen, he will also be eligible for additional interest applicable to Senior Citizen shown as above.

(iv) Various Fixed Deposit Schemes Of The Bank
(a)

Fixed Deposit Scheme Ordinary

Under this scheme any sum can be placed for any fixed period ranging from 15 days to 120 months and the interest accrued can be withdrawn at the quarterly intervals

Minimum period of 7 days also permissible (conditions apply)

(b)

savings With Smile Deposit Scheme

It is a reinvestment plan deposit scheme, under which compound interest is paid.

The interest is compounded at quarterly intervals but paid along with principal at the time of maturity of deposit.

Any amount of deposit shall be accepted under this scheme for a minimum period of 36 months and a maximum period of 120 months.

(c)

Short Term Deposit Scheme

It is a reinvestment deposit scheme under which the depositor can place the funds for short period and still can reap the benefits of compound interest.

Any amount of deposit shall be accepted under this scheme for a minimum period of 6 months and a maximum period of 36 months

(d)

Capital Gain Deposit Scheme

This is a scheme under which the tax payers can avail of benefits of exemption from Capital gains, only if the amount of Capital gains or the net consideration is depositd in Public Sector Banks on or before their due date of filling the income tax return. (Subject to conditions as contained in relevant provisions of I.Tax Act 1961,) as amended from time to time.

Please note that the additional interest rate benefit for Senior Citizens /Staff / Ex Staff is not applicable under Capital Gain Scheme.

(e)

Harhi Savni (Rabi Kharif) Jama Yojna

Harhi savni (Rabi Kharif) Jama Yojna is a unique scheme offered by Punjab & Sind Bank to its farmer friends.

The scheme is specially designed to help the farmers to invest their surplus funds at the time of each harvesting.

The scheme also provides flexibility in depositing the installments with minimum of Rs.1000/-- and in multiples thereof to any amount.

The deposit of installments is correlated with the harvesting of Hari (Rabi) / Savni Kharif) crops and is required to be depositd each year before 30th June and 31st December every year.
(v)

Tax Saver

Rate of Interest :
BOB offres best FD rate of 6.75% on term deposits for a tenure of 1 to 3 years. The bank offers special interst rate on FD for senior citizens. Current BOB FD rates for senior citizens range form 6.25% to 7.25%.

Any change in rate of interest, terms and any other benefits under this scheme shall be specifically and separately advised as and when done.

Other condition apply. For any clarification as regard to Deposit Schemes of the bank you may contact us.

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