INSUBCONTINENT EXCLUSIVE:
Nomination and loan facilities are also available with SBI's MODS account.State Bank of India or SBI, offers multi option deposit scheme
(MODS) account under its personal banking portfolio
SBI's multi option deposit scheme is a type of fixed deposit or term deposit scheme
A fixed deposit is a financial instrument offered by banks which fetches guaranteed returns
Unlike normal term deposits which are fully liquidated anytime when you need money, you can withdraw from a MODS account in multiples of Rs
Deposits above Rs 10,000 are required to be in multiples of Rs
a MODS account as a fixed deposit account
Fixed deposit interest rates for deposits below Rs
2 crore are:TenorsGeneral public (% p.a.)Senior citizens (% p.a.)1 year to less than 2 year6.87.32 years to less than 3 years6.87.33 years
to less than 5 years6.87.3Premature withdrawal: SBI offers the facility of premature withdrawal with the account
Rules of premature withdrawal of a fixed deposit (FD) account are applicable on the multi option deposit account, said SBI.Other facilities:
Nomination and loan facilities are also available with SBI's MODS account.Get the latest election news, live updates and election schedule
for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections
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