INSUBCONTINENT EXCLUSIVE:
SBI pays same interest on a multi option fixed deposit account as a fixed deposit account.SBI or State Bank of India, country's largest
lender, offers option of opening a Multi Option Deposit Scheme (MODS) account under its personal banking portfolio
SBI Multi Option Deposit Scheme is a type of fixed deposit or term deposit scheme
A fixed deposit is a secure financial instrument offered by banks which fetches guaranteed returns
Unlike normal term deposits which are fully liquidated anytime you need funds; you can withdraw from a MODS account in multiples of Rs
1,000 according to your needs, according to bank's website
The balance amount in multi option deposit account continues to earn fixed deposit interest rates applicable at time of initial deposit.The
minimum fixed deposit amount for multi option deposit account is Rs
Any deposits above this amount are required to be in multiples of Rs
For SBI's Multi Option Deposit Scheme, minimum tenure is one year and maximum tenure is five years.SBI pays same interest on a multi option
fixed deposit account as a fixed deposit account
SBI revised its interest rates on retail fixed deposits in November
The following FD interest rates are for deposits below Rs
1 crore:TenorsRevised For Public w.e.f
28.11.2018Revised for Senior Citizens w.e.f
Rules of premature withdrawal of a fixed deposit (FD) account are applicable on multi option deposit account, according to SBI.Nomination
