New Delhi, Aug 24: Punjab & Sind Bank (PSB) on Wednesday announced hike in term-deposit rates by 0.25-0.50 per cent on various maturities after Reserve Bank of India (RBI) raised the bank rate by one per cent.The bank has recently raised its prime lending rate (PLR) from 12.25 to 12.75 per cent.
The rate for deposits below Rs 15 lakh and maturity period of 15-30 days has been raised to 5.50 per cent as against the previous 5.25 per cent, while that of 31-45 days is up 0.25 per cent to 6.25 and for 46-90 days by 0.50 per cent to 6.75 per cent.
Deposit rate for maturity period above six months has been increased by 0.50 per cent, a bank release said.
The FCNR(B) deposit rate for one to less than two yearshas been pegged at 6.50 for accounts in dollar from August 1, while the NRNR deposit rate would be 9.50 for the same period.
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