A special recurring deposit variant with flexibility for depositors to deposit instalments during the month as and when available. Customer have to declare the monthly instalment i.e. “Normal Installment Amount” at the time of opening of the account.
Customer can deposit multiple times in a month in the account. The maximum permissible amount per month is 10 times of the Normal Installment amount or Rs 1,00,00,000/- (Rupees One Crore Only) whichever is lower.
Who can Open the Account
Individuals, Sole Proprietary Concerns, Partnership Firms, Limited Liability Partnership, Hindu Undivided Family, Private and Public Limited Companies, Public Corporations, Registered or Unregistered Societies or Associations/Clubs, Government/Semi-Government Bodies etc
Initial Deposit Amount
Rs 100/- (Fixed Amount that the customer shall deposit for the first time and for once in the flexi RD account )
Minimum & Maximum Normal Installment Amount
Min. amount- Rs.100/- and in multiples of Rs.1/- Max. amount- Rs 1,00,00,000/- (Rupees One Crore Only)
Minimum Period
6 months
Maximum Period
120 months
Maximum Top Up Deposit amount in a month
10 times the Normal Installment Amount or Rs.1,00,00,000/- (Rupees One Crore Only), whichever is lower.
Top up Deposit frequency
Any no. of times in a month subject to the cap on amount mentioned in point 8.
Interest will be calculated on daily product basis and credited to the account on quarterly intervals.
TDS
TDS will be deducted as per guidelines
Loan Against Flexi RD Deposit
Available
Nomination
Available as per extant Bank Guidelines (Up to Four nominee can be Added)
Important Points for PSB Flexi Recurring Deposit Account
1. Initial Deposit Amount: This is the fixed amount that the customer shall deposit for the first time and for once in the flexi RD account.
2. Normal Installment Amount:This is the fixed amount that the customer will deposit every month in the flexi RD Account.
3. Top Up Deposit Amount: This is the amount that the customer can deposit over and above the Normal Installment Amount. The maximum top up deposit amount in a month will be “10 times of the normal installment amount or Rupees One Crore, whichever is lower” Illustration: For Example, if the customer opts for a normal installment amount per month for Rs 1000/-, then the maximum Top Up Deposit Amount that the customer can deposit in a month will Rs 10000/- (i.e 10 times of Rs 1000/-). This deposit can be made in any amount up to a maximum of Rs 10000/-.
4. The account holder should deposit the initial deposit amount and one normal installment amount at the time of opening of the Flexi RD Account.
5. The normal installment amount to be served every month before the deposit of the top Up Deposit Amount.
6. The Flexi Recurring Deposit Account will be auto closed on the date of maturity of the account.
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A New Internet Banking and Mobile Banking Solution - PSB UnIC for Retail Customers including NRE/NRO and PSB UnIC Biz for Sole Proprietor customers and Corporate Customers has been rolled out successfully by the Bank bringing UPI, IMPS, NEFT, RTGS and many more banking services under one platform.
Please note that our customers have already been notified that the old Internet Banking Portal of the Bank will be pulled down by 28.02.2022. The Funds Transfer services were blocked for Retail Internet Banking Customers since 09.01.2022. However, our old Internet Banking Portal was running parallelly for the last few days for the benefit of old Retail and Corporate Internet Banking Customers. It has now been decided that the Old Internet Banking will be pulled down on midnight of 21.03.2022. Bill Payments and Tax Payments ( OLTAS and GST) can be done through PSB UnIC digital platform. Bill Payment services are moved to PSB UnIC from 16.03.2022 onwards and the OLTAS functionality will be live from 18.03.2022 through PSB UnIC.
Our existing old Internet Banking customers ( Retail and Sole Propriership) who are yet to register in PSB UnIC are requested to make a onetime registration by visiting our website: https://punjabandsindbank.co.in and by clicking on PSB UnIC and choosing appropriate Option as follows:
And submit the duly signed application form along with required documents Viz. Board Resolution / Partnership Letter with Deed / Trust, Society, Club Resolution Letter/ HUF Letter etc. and also the KYC documents of the Authorised Users immediately to the parent Branch.
These corporate customers will be sent a registration kit through email after submission of the above documents. By Using the credentials in the mail, the corporate customers are requested to register by following the instructions contained in the email and start availing the benefit of PSB UnIC Biz services.
General Manager-IT,
Punjab & Sind Bank
Internet Banking
Dear customers,
A New Internet Banking and Mobile Banking Solution - PSB UnIC for Retail Customers including NRE/NRO and PSB UnIC Biz for Sole Proprietor customers and Corporate Customers has been rolled out successfully by the Bank bringing UPI, IMPS, NEFT, RTGS and many more banking services under one platform.
Please note that our customers have already been notified that the old Internet Banking Portal of the Bank will be pulled down by 28.02.2022. The Funds Transfer services were blocked for Retail Internet Banking Customers since 09.01.2022. However, our old Internet Banking Portal was running parallelly for the last few days for the benefit of old Retail and Corporate Internet Banking Customers. It has now been decided that the Old Internet Banking will be pulled down on midnight of 21.03.2022. Bill Payments and Tax Payments ( OLTAS and GST) can be done through PSB UnIC digital platform. Bill Payment services are moved to PSB UnIC from 16.03.2022 onwards and the OLTAS functionality will be live from 18.03.2022 through PSB UnIC.
Our existing old Internet Banking customers ( Retail and Sole Propriership) who are yet to register in PSB UnIC are requested to make a onetime registration by visiting our website: https://punjabandsindbank.co.in and by clicking on PSB UnIC and choosing appropriate Option as follows:
And submit the duly signed application form along with required documents Viz. Board Resolution / Partnership Letter with Deed / Trust, Society, Club Resolution Letter/ HUF Letter etc. and also the KYC documents of the Authorised Users immediately to the parent Branch.
These corporate customers will be sent a registration kit through email after submission of the above documents. By Using the credentials in the mail, the corporate customers are requested to register by following the instructions contained in the email and start availing the benefit of PSB UnIC Biz services.
