This Recurring Deposit offered by State Bank Of Patiala SBP, primarily targets female customers.

The idea is to encourage women to become financially independent by helping them save.

Interest Rate on Recurring Deposits (RD)

Base Rate – 9.65% w.e.f. 05.10.2015

BPLR – 15 % w.e.f. 05.10.2015

The minimum monthly instalment amount for this Recurring Deposit is as nominal as Rs. 500.

There is a facility to transfer the RD account from one SBP branch to another, absolutely free of any charges.

The deposit tenure is 3 years.

This RD account can be opened by –

Residents of India

Any female holding a Savings account with SBP

Any female can open this account in her name, or jointly with a minor/child. In case of the latter, the female should be the first applicant.

You can avail a loan/overdraft facility against the security of the Recurring Deposit. If the loan is being taken for the minor, it needs to be utilised for his/her benefit.

Toll Free: 1800-180-2010