Why Worry When You have State Bank of Patiala Fixed Deposit - Wishfin

State Bank of Patiala Fixed Deposit

About State Bank of Patiala Fixed Deposit

State Bank of Patiala (SBP), established in 1917, is an associate bank of State Bank of India. The bank operates an extensive network of 1445 service units that include 1314 branches across major Indian cities in the states of Punjab, Haryana, Rajasthan, Delhi, Uttar Pradesh, Himachal Pradesh, Jammu & Kashmir, Madhya Pradesh, Maharashtra and Gujarat.

At SBP, you will get an opportunity to choose from various fixed deposit options, such as Open Deposit Account, SBP-Flexi Corporate, SBP Tax Saving Term Deposit Scheme, etc. Wanna check out the interest rates of fixed deposits at SBP? Read the table below.

State Bank of Patiala Fixed Deposit Interest Rate

Domestic/NRO Fixed Deposit Rates of Below 1 Crore (Deposit Rates as on Oct 3, 2016)

PeriodGeneral PublicSenior Citizens
7-90 Days6.00%6.00%
91-180 Days6.75%6.75%
181-270 Days6.80%6.80%
271-364 Days7.27%7.27%
1 Year-555 Days7.57%7.97%
556 Days to Below 5 Years7.37%7.77%
5 Years-10 Years7.37%7.77%

Note– Deposit period of 7-14 days is applicable to a deposit amount of 15 lacs and above only.

Domestic Fixed Deposit Rates for Amount of  1 Crore and More (Deposit Rates as on Oct 3, 2016)

PeriodInterest Rates
7-14 Days4.00%
15-45 Days5.00%
46-90 Days5.75%
91-180 Days6.25%
181-365 Days6.75%
366 Days-2 Years6.75%
Above 2 Years-Below 5 Years6.50%
5 Years-10 Years6.50%

NRE Fixed Deposit Rates (Deposit Rates as on Oct 3, 2016)

PeriodBelow Rs. 1 Cr
365 Days7.57%
Above 365 Days-555 Days7.57%
556 Days-Below 5 Years7.37%
5 Years-10 Years7.37%

PeriodAbove Rs. 1 Cr-5 Cr
365 Days-2 Years6.75%
Above 2 Years-10 Years6.50%

State Bank of Patiala Fixed Deposit Schemes

Open Deposit Account

Minimum Deposit Amount-15 Lacs

Maximum Amount-No Cap

Period of Deposit-7 Days-Below 1 Year

No Penalty on Premature Withdrawal

Loan Facility against Deposit-Available

TDS Applicable

Who are Eligible-Individuals, Proprietary Concern, Partnership Firms, Companies, Societies, Associations, Trusts, Institutions

SBP Tax Saving Term Deposit Scheme

Minimum Deposit Amount- 100

Maximum Deposit Amount-1.5 Lacs in a Year

Lock-in Period-5 Years

Deposits Qualify for Tax Exemption Under Section 80C of the Income Tax Act

Who are Eligible-Individuals or Hindu Undivided Family (HUF)

SBP Flexi Corporate

Linked to Savings & Current Accounts

Sweep-in and Sweep-out of Fixed Deposits

Minimum Deposit Amount-Below

 1 Crore for Non-bulk CLTD-1 Crore for Bulk CLTD

Maximum Deposit-10 Crore for Bulk CLTD

Period of Deposit-7 Days-179 Days

State Bank of Patiala Fixed Deposit Application Form

Want to open a fixed deposit account at State Bank of Patiala? Access the application form at the nearest bank branch. Fill the necessary details and submit the form along with relevant identity and address proofs to the bank officials to process your application. Your fixed deposit account will get opened after a thorough investigation of the details by the bank.

Documents Required to Open State Bank of Patiala Fixed Deposit Account

  • Duly Filled Fixed Deposit Account Opening Form
  • Cheque
  • 2-3 Passport Size Photographs
  • Identity Proof- Passport, PAN Card, Driving License, Voter ID, Aadhaar Card, Photo Ration Card, Senior Citizen ID Card
  • Address Proof- Passport, Electricity Bill, Telephone Bill, Bank Statement, Certificate or ID Card Issued by Post Office

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