Rate of Interest on Punjab and Sind Bank Non-Resident External (NRE) FD Account Deposits
Punjab and Sind Bank’s NRE account has one of the best FD interest rates for various tenors, catering to your needs as an investor. The Punjab and Sind Bank NRE FD rates amounting to less than ₹2 crore are as follows:
| Tenors |
Interest Rate (% p.a.) Less than ₹2 Crore |
| 1 Year |
6.30 |
| >1 Year - 443 Days |
6.00 |
| 444 Days |
7.30# |
| 445 Days - 554 Days |
6.00 |
| 555 Days |
7.45# |
| 556 Days < 2 Years |
6.00 |
| > 2 Years-776 Days |
6.30 |
| 777 Days |
7.25# |
| 778 Days- 998 Days |
6.30 |
| 999 Days |
6.65# |
| 1000 Days - <3 Years |
6.30 |
| 3 Years - 5 Years |
6.00 |
Note: *Interest rates are effective from October, 2024 Punjab and Sind Bank NRE FD rates are subject to change without prior notice. #Valid up to December 31, 2024 only.
Information About
Fixed Deposits, Guaranteed Return Plans & Debt Mutual Fund
Guaranteed Return Plans, Fixed Deposits &
Debt Mutual Fund
Guaranteed Return Plans
Returns Before Tax
6.9%* (TAX-FREE)
Fixed Deposits
Returns Before Tax
7% (TAXABLE)
Debt Mutual Fund
Returns Before Tax
8% (TAXABLE)
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*For annual premium upto ₹5 Lacs
Features of a Punjab and Sind Bank NRE FD Account
Besides offering higher FD interest rates on an NRE account, the Punjab and Sind Bank NRE FD offers its customers various features, including:
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Punjab and Sind Bank NRE accounts offer tax advantages on the interest accrued.
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Facility of full repatriation of both the principal and earned interest, so the account holder can transfer their money completely any time they want.
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Punjab and Sind Bank NRE account is maintained in Indian rupees, saving the funds from foreign exchange rate fluctuations.
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The bank recognizes varied individual needs, and it provides flexible deposit tenures ranging from 1 to 5 years.
What Are the Eligibility Criteria for a Punjab and Sind Bank NRE FD Account?
In order to open a Punjab and Sind Bank NRE FD account, the following general conditions are to be fulfilled:
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The candidate must fall under one of the NRI, PIO, foreign national, foreign national student, or OCI categories.
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The customer must have valid ID proof, including an Indian passport or a PIO card.
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Required to show authentic overseas address proof.
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Must present valid proof, including a student visa or employment visa.
How to Open a Punjab and Sind Bank NRE FD Account?
Existing or new customers who have qualified for NRI eligibility can open an NRE account with Punjab and Sind Bank first, and then open an NRE FD account. Customers need to follow the bank's instructions to book an NRE FD with the bank.
Documents Required to Open a Punjab and Sind Bank NRE FD Account
The general documents to be submitted for opening a Punjab and Sind Bank NRE FD account are:
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ID proof (Passport)
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Address proof (India & overseas)
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Proof of Tax
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Proof of NRI, foreign national, foreign national student, PIO or OCI status
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PAN/Form 60
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Foreign Account Tax Compliance Act (FATCA) information
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Overseas work/residence proof (visa/permit)
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Passport-size photograph
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Any other document required by the bank
Conclusion
Punjab and Sind Bank NRE FD interest rates are higher than industry norms, so you gain greater returns by investing your hard-earned foreign money. The interest earned attracts tax benefits, and the principal and interest can be easily converted into any convertible currency at ongoing exchange rates. Knowing the Punjab and Sind Bank NRE FD rates is the first step to venture into investing in this secured, higher-return-generating term deposit (Fixed Deposit) account.
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