State Bank of Patiala extends extremely competitive interest rates for its Fixed Deposit accounts with short tenures. Short tenure fixed deposits ensure that the investor can maintain sufficient liquidity between investments.
Tenures as short as 30 days and 60 days earn returns at the rate of 6.5% p.a. These durations are convenient to the investor allowing him/her to maintain regular liquidity through the months.
90 days and 120 days tenures also offer interest at the rate of 6.5% but obviously will earn more interest as compared to the previous category due to a longer duration. 120 days tenures are also offered with the interest rate of 6.5% p.a.
The best returns in the short term category can be earned with 60 days tenures.
The updated list of State Bank Of Patiala FD Rates, for Regular and Senior Citizen, is listed below:
|Tenure||Regular FD Rates||Senior Citizen FD Rates|
|7 days to 45 days||5.50%||6.00%|
|46 days to 179 days||6.50%||7.00%|
|180 days to 210 days||6.75%||7.25%|
|211 days to 364 days||7.00%||7.50%|
|1 year to 455 days||6.90%||7.40%|
|456 days to 1 year 364 days||6.95%||7.45%|
|2 years to 2 years 364 days||6.85%||7.35%|
|3 years to 4 years 364 days||6.50%||7.00%|
|5 years to 10 years||6.50%||7.00%|
Fixed Deposit account with medium to long tenures ensure customers with the most lucrative rates of interest. Medium and long term tenures are considered profitable for two basic reasons,
They have a longer duration, hence more time to gather interest
They are usually awarded a higher rate of interest by most banks and financial institutions.
In the medium term category, tenures of 6 months and 9 months are offered with interest rate of 7.75% p.a. whereas fixed Deposit accounts with terms of 1 year are levied with an interest rate of 8% p.a. And Fixed Deposit accounts with terms of 1 year 6 months are awarded 8.8%.
State Bank of Patiala Fixed Deposit accounts with medium tenures of 6 months and 1 year 6 months are seemingly the most cost effective durations to invest in.
Long term tenures are always considered to be highly remunerative due the length of their interest earning time. State Bank of Patiala furnishes its customers with high income reaping long term Fixed Deposit accounts. Durations of 2 years, 3 years, 4 years and 5 years are all given a cushy interest rate of 8.8% p.a.
In the long term Fixed Deposit account category, investments of 3 years seem to be a feasible choice.
Senior Citizens are not offered any special rates with State Bank of Patiala.
Tenures of 30 days to 120 days receive interest at the rate of 6.5% p.a. Tenures of 6 months are 9 months receive interest at the rate of 7.75% p.a. Interest rate of 8% p.a. is offered for fixed deposit accounts with tenures of 1 year. Tenures of 1 year 6 months and 2 years are given an interest rate of 8.7 p.a. Long term tenures of 3 years, 4 years and 5 years receive an interest rate of 8.5% p.a.