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20th July 2016, 12:15 PM
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Join Date: Aug 2012
Re: Schemes of State Bank of Patiala

The details of the Naunihal Deposit Scheme and Swapan Luxmi Recurring Deposit Scheme as offered by SBP or State Bank of Patiala are as follows:

Naunihal Deposit Scheme

Features & Benefits
Special Term Depsoit Scheme
Mode of Operation:
i) Single Name : Minor aged 10 years and above
ii) Joint account opened in the name of minor (upto age of 10 years) and natural guardian.
iii) For , the minor is aged 10 years and above , the joint account is opened with anyone including guardian.

Eligibility Criteria
Minor children (Resident)

Min/Max Amount of Deposit
Min Deposit : Rs.50,000/- and in multiple of Rs.50,000/-
Max Deposit :
a) Single Name : Minor aged 10 years and above : Rs.2.00 lacs
b) Joint Account : First name of the depositor under joint deposit should be that of the Minor along with natural guradian / others – Less than Rs. 1.00 Crore.

Period of Deposit
92 Months

Other Important Features
Loan Facility : Available in the form of Demand Loan / Overdraft as per extent guidelines of the Bank.

Swapan Luxmi Recurring Deposit Scheme

Features & Benefits
Loan / Overdraft facility available against the security of the deposit
For minor, the same should be utilized for the benefit of the minor.
Free automatic transfer of monthly installment amount to RD account, by debit to Saving Bank account.

Eligibility Criteria
i) All female singly or jointly (female as first applicant in joint account including minor child)
ii) The female should have a Saving Bank Account in any branch of SBP.
iii) Available for residents only

Min/Max Amount of Deposit
Min Amount per Instalment - Rs.500/- and in multiple thereof

Period of Deposit
3 years

Other Important Features
Facility to transfer of RD between our branches is available without any charge


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