Organization : State Bank of Patiala
Facility : Corporate Liquid Term Deposit Scheme (CLTD)
Scheme : https://www.sbp.co.in/Deposits.aspx?pantab=1&pgId=59
Home Page : https://www.onlinesbi.com/
Corporate Liquid Term Deposit Scheme
Features & Benefits :
* The Scheme has been designed to provide a unitised break up term deposit scheme to Corporate and Institutions
* Rate of Interest – As per basic term deposit interest rates. No differential interest would be payable on individual deposits of Rs. 15 lacs and over.
Related : State Bank of Patiala Capital Gains Account Scheme : www.statusin.in/20923.html
* Type of Deposits – TDR/STDR
Eligibility Criteria :
Corporate and Institutions having Current account (C & I Segment)
Min/Max Amount of Deposit :
Minimum Rs. 50,000/- Subsequent deposits in multiples of Rs. 5000/- with a minimum of Rs. 25000/-
Period of Deposit : 7 days to 3 years
Other Important Features :
* Partial withdrawals through Current account :
** The facility of partial withdrawals is permitted in units of Rs. 5000/- each.
** There is no limit on the number of withdrawals.
** The interest accrued on withdrawn amount will be reckoned as in the case of premature payment of TDR/STDR and will be paid along with the amount withdrawn.
** The balance amount will continue to earn interest at the contracted rate.
** Unless specified otherwise, the latest deposit will be broken whenever partial withdrawal is required.
** The withdrawal will be through issue of cheques in current account, i.e. in case of need the required amount will be automatically withdrawn from the Corporate Liquid Term Deposit, in multiples of Rs. 5000/- and credited to the Current account to honour the cheques
* Acknowledgment of deposits – No TDR/STDR receipt will be issued. An acknowledgment of deposit would, however, be given. A statement of account would be generated at monthly intervals.
* The depositor would not be eligible for any loans against Corporate Liquid Term deposits
* A minimum deposit of Rs. 50,000 is required to be maintained in the Corporate Liquid Term Deposits at all times. Should the balance fall below this level during any day in a month, a service charge of Rs.50/- for a month would be levied.
Frequently Asked Questions :
1. How can I pay to Firms / Corporates / Institutions of erstwhile Associate Banks?
As the home pages of the Associate Banks are discontinued after merger, please navigate to ‘onlinesbi.com’ ‘State Bank Collect’
2. How can I make payment by using the Net Banking of erstwhile Associate Banks?
After submitting the details and confirmation, when you are redirected to Multi Option Payment System (MOPS) page for selecting the payment option, please choose ‘SBI’ under Net Banking.
3. I was maintaining account with the erstwhile Associate Bank, have downloaded the PAP form for payment through Branch. Whether I can approach any SBI branch for payment?
Yes. You can approach any SBI branch for payment.