Flexi Fixed Deposit Punjab and Sind Bank

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What is the Punjab and Sind Bank Flexi Fixed Deposit?

Punjab and Sind Bank Flexi Fixed Deposit is a secure savings option that links your account to a fixed deposit. In Punjab and Sind Bank, surplus funds above ₹50,000 (for individuals) and ₹2,00,000 (for non-individuals) in savings accounts are automatically swept into term deposits. For current accounts under the PSB Smart Business Flexi Current Deposit Scheme, balances above ₹5,00,000 are transferred into the Flexi Fixed Deposit in multiples of ₹50,000, with automatic sweep-out when funds are needed. 

Punjab and Sind Bank Flexi Deposit Interest Rates

Here is the detailed breakdown of Punjab and Sind Bank FD interest rates across various tenures for general and senior citizen depositors. These are aligned with Flexi Fixed Deposit Interest Rates:

For Deposits Less than ₹3 Crores

* Punjab and Sind Bank FD interest rates w.e.f. July 16, 2025
*Other conditions for non-callable deposits are to be adhered to as per the circular issued by HO P&D from time to time.

Key Features of Punjab and Sind Bank Flexi Deposit 

The Flexi Deposit Punjab and Sind Bank has several practical features that set it apart from standard deposit schemes. These include:

• Reverse Sweep: Under the PSB Flexi Savings Deposit scheme, if your savings account balance falls below the minimum required level, funds are automatically swept out from the linked fixed deposit in multiples of ₹5,000 to maintain liquidity.
• Partial Withdrawal Allowed: Only the amount needed is withdrawn. The remaining FD amount continues to earn the Punjab and Sind Bank Flexi Deposit Interest Rate.
• Tenure Flexibility: Fixed deposits created under this scheme generally offer a range of tenure options, depending on your preferences.
• High Liquidity: Due to the reverse sweep feature, your funds are accessible anytime without the need to close the entire FD.

How to Open a Punjab and Sind Bank Flexi Fixed Deposit?

You can open a Flexi Deposit with Punjab and Sind Bank online or by visiting a branch. Existing customers can simply book the Flexi Deposit through their net banking or mobile banking account. New customers must open a savings account with the bank and then link their Flexi Deposit to it.

1. Online Method

   If you are an existing Punjab and Sind Bank customer, you can easily book an FD with internet or mobile banking.

   • Log in to Punjab and Sind Bank Internet Banking or the PSB UnIC mobile banking app.
   • Go to the ‘Deposits’ section and select ‘Open Fixed Deposit’.
   • Choose the Flexi Fixed Deposit option.
   • Enter the deposit amount and tenure, and select the account to be linked.
   • Set sweep-in and sweep-out instructions.
   • Review the details and confirm.

2. Offline Method

   If you prefer the offline method, you can visit your nearest Punjab and Sind bank branch to open an FD in person.

   • New and existing customers can open a Flexi Fixed Deposit by visiting the nearest Punjab and Sind Bank branch.
   • Request and fill out the Fixed Deposit application form, and mention that you want to open a Flexi Fixed Deposit.
   • Submit the form along with your savings account number.
   • New customers must provide the following documents for KYC.
   • Submit documents including PAN card, Aadhaar card or other valid ID.
   • The bank official will verify the documents and complete the process.
   • Get the acknowledgement receipt after completing the process.

Difference Between Flexi Fixed Deposits and Regular Fixed Deposits

Here’s how Punjab and Sind Bank’s Flexi Fixed Deposits differ from Regular Fixed Deposits in terms of access, interest, and flexibility:

Key Takeaways

The Flexi Fixed Deposit offered by Punjab and Sind Bank is well-suited for individuals seeking a combination of safety, liquidity, and returns. It enables surplus savings to automatically earn FD interest rates without requiring the entire amount to be locked in. The facility allows seamless partial withdrawals without the need for manual intervention. Flexi deposits offer better returns than regular FDs, making them a smart choice for growing your savings. You can conveniently open and manage this facility through branches, online banking, or the mobile app.