eG tetany ital sats Gara wos Per for went enna: Storer Wet Perret Fast Head Office: Planning & Development Department Punjab & Sind Bank unererareraahtaard.! H.0. Circular No:845/2022-23 ‘fasmireriasrei/Dept. Ref No.:3623 | fectiar / Date: 30/12/2022 ‘jaa! Latest updation upto: New Version Circular: To All Branches/Offices Req: Digital Only FD Product “PSB e-Advantage FD” Of late, huge demand has emerged for Digital Banking Products in the Industry. The Digital Banking Products not only cut short the required formalities but also facilitates ease of access to the customers around the clock. In line with above, The Bank has launched a Digital Fixed Deposit Product for the customers. Bank's Digital FD Product offers higher interest rates in comparison to a regular Fixed Deposit made at branches, This Digital Only Fixed Deposit Product will be available only on PSB UNiC. This newly launched digital only fixed deposit product "PSB e-Advantage FD” shall score over the regular Fixed Deposits not only in terms of convenience and ease of operation but in terms of returns as well. We hope, the digital only Fixed Deposit will well suit to the new age customers and field functionaries will be at better footing to compete market forces. The Special Fixed Deposit Product “PSB e-Advantage FD” shall be available for customers on PSB UNiC Application. “PSB e-Advantage FD" “CONFIDENTIAL - STRICTLY FOR INTERNAL CIRCULATION ONLY” Page 1 of 6Reg: Digital Only FD Product “PSB e-Advantage FD” ¥ The Detailed quidelines are_attached herewith as annexure “A” This product is displayed on our Bank's website https://punjabandsindbank.co.in for . | information/publicity at large. > The feature template/banners of this product be prominently displayed at the notice board of the branch/other prominent places and due publicity be given among the customers. > Zonal Offices are advised to ensure the compliance of these guidelines at their end and the compliance by the branches working under their jurisdiction. > Internal Auditors / Concurrent Auditors must invariably check and point out the irregularity, if any to this effect / of non-adherence of instructions, in their | Inspection/Audit Report. “ps. ntago FD" “CONFIDENTIAL - STRICTLY FOR INTERNAL CIRCULATION ONLY” Page 2 of 6Annexure (A) “PSB e-Advantage FD” The salient features of the scheme are placed as under- |. Name of the scheme: “PSB e-Advantage FD” Who can open this account: I. Individuals: Resident Individuals including Body of individuals. ll. Non-Individuals: Non-individuals like Hindu Undivided Family (HUF), Sole Proprietorship firms; Partnership firms, Companies, Association of persons etc. ps6 3. Tenure of Deposit: 607 Days. 4. Validity of the Scheme : Upto March 31, 2023 5. Auto Renewal: Auto Renewal under the scheme is not available. 6. Rate of interest: Special Rate of Interest i.e. Fixed Rate 7.25 % (Per annum) for General Public. 7. Calculation of Interest: The monthly interest will be paid at discounted value, whereas, the same shall be quarterly compounded in case of half-yearly and yearly payment of interest 8. Interest Payment Option: > While opening the Term Deposit Accounts, depositor(s) shall give one of the following options(Interest pay out can be done through accounts only): * Income Option (Outflow of Interes' The interest may be paid on quarterly basis. The payment of interest on quarterly basis shall be made on simple rate of interest. The monthly interest will be paid at discounted value, whereas, the same shall be quarterly compounded in case of half-yearly and yearly payment of interest “PSB e-Advantage FD" “CONFIDENTIAL - STRICTLY FOR INTERNAL CIRCULATION ONLY* Page 3 of 6» Maturity Option (Re-Invested Interes' The interest shall be compounded on quarterly basis and will be payable on maturity of deposit only. The incomplete quarter of such deposit shall be reckoned at the end, for the purpose of calculation of interest. 9. Mode of Operation of Accounts: Single Operation/ Joint Operation/Operation through Power of Attorney or as the case be etc. 10.Whether Staff benefit in terms of ad scheme: Yes, as per the extant guidelines of the Bank. ional rate of interest Available under this 11.Whether Senior Citizen benefit in terms of additional rate of interest Available under this scheme: Yes. 12.Whether Super Senior Citizen (Age 80 year and above) benefit in terms of additional rate of interest Available under this scheme: Yes.0.35% p.a. additional. 13.Where these Accounts can be opened: The FD account can be opened through PSB UNIC Application only. 14. Scheme Code: Finacle/CBS- > For Domestic Fixed Deposits- Scheme? + For General Public . ‘EFDSG". ‘PSB e-Advantage Fixed Deposit" + For Public Senior Citizen _: “EFDSC’-_ ‘PSB e-Advantage Fixed Deposit” | * For Public super Senior Citizen :“EFSSZ”-_ "PSB e-Advantage Fixed Deposit” + For Staff Member ._“EFDSS"-_ ‘PSB e-Advantage Fixed Deposit” + For Staff Senior Citizen .__‘EFDSZ" - ‘PSB e-Advantage Fixed Deposit” + For Staff Super Senior Citizen : “EFDSX"- "PSB e-Advantage Fixed Deposit * “PSB e-Advantage FD" “CONFIDENTIAL - STRICTLY | ERNAL CIRCULATION ONLY” Page 4 of 6> For Domestic Fixed Deposit-Ordinary: + ForGeneral Public: "EFQOG” - “PSB e-Advantage Fixed Deposit -Ordi-Quarterty Intt. Payout” + For Public Super Senior Citizen: EFQOX” “PSB e-Advantage Fixed Deposit ~Ordi Quarterty Intt. Payout” + For Staff Member = "EFQOS'" - ‘PSB e-Advantage Fixed Deposit -Ordi-Quarterly Intt, Payout + For Staff Senior Citizen: "EFQOZ" - “PSB e-Advantage Fixed Deposit -Ordi-Quarterty Intt. Payout” «For Staff Super Senior Citizen: EFQEX” ‘PSB e-Advantage Fixed Deposit -Ordi-Quartery Intt. Payout” + For General Public . “EFMOG" - PSB e-Advantage Fixed Deposit -Ordi-Monthly Intt. Payout” + For Public Senior Citizen: "EFMOC” - PSB e-Advantage Fixed Deposit -Ordi-Monthly Intt. Payout” + For Public Super Senior Citizen: “EFMOO"-PSB e-Advantage Fixed Deposit -Ordi-Monthly Intt. Payout « For Staff Member :"EFMOS’ - PSB e-Advantage Fixed Deposit -Ordi-Monthly Intt. Payout” + For Staff Senior Citizen: “EFMOZ’-PSB e-Advantage Fixed Deposit -Ordi-Monthly Intt. Payout” + For Staff Super Senior Citizen: “EFMOX” -PSB e-Advantage Fixed Deposit -Ordi-Monthly Intt. Payout 15.Nomination facility: Available. In case, the account holder is minor, the nomination shall be made by a person lawfully entitled to act on behalf of the minor. 16.Can Join another Person in the account: Joint Account under this scheme be opened as per the extant guidelines. However, Joint Accounts not allowed in the name of two minors/with minor/s. 17.Transfer of Account: No. FD Account opened under this scheme cannot be transferred from home branch to any other branch of the bank. 18.Premature Withdrawal/Closure: -In case of premature closure, the applicable rate of interest will be linked to the card rate applicable for Domestic General Term Deposit Product subject to penal charges as applicable. “PSB e-Advantage FD" “CONFIDENTIAL - STRICTLY FOR INTERNAL CIRCULATION ONLY” Page 5 of 619.Issuance of Passbook/Deposit Receipt: Electronic Fixed Deposit (Non-Negotiable/Non- Transferable) Receipt will be issued to FD Account holder/s through PSB UNiC Mobile Application only. 20.Withdrawal of proceeds: Through PSB UNiC App only. : 21.Minimum Deposit in the Account :Rs1,000/- 22.Maximum Deposit in the Account: Maximum Deposit in the Account: Rs. 1.90Crore. 23. Taxation in the Account: Interest accrued on this deposits is liable for Tax in accordance with the guidelines issued by Income Tax Department, GOI, from time to time. 24.All other terms and conditions: As applicable to other Term Deposit Product but not mentioned in this product shall apply here also. Note: The Opening of Fixed Deposit Account under this is scheme completely Online Process & No Manual Access to the FD Account allowed in CBS by any Branch User/s. BEEBE EERE H EO EE HE OOO OF HSB BOO OHO HOO HO OG Can HoH aaa aoa ee “PSB e-Advantage FD" “CONFIDENTIAL - STRICTLY FOR INTERNAL CIRCULATION ONLY” Page 6 of 6