SBI Multi Option Deposit Scheme – The State Bank of India (SBI) has launched the “SBI Multi Option Deposit Scheme”. Under this scheme, you can withdraw money from fix deposit on any occasion if you need it. The biggest problem associated with Fixed Deposit in any bank is that to break the FD and withdraw the money before time. This MOD (Multi Option Deposit) term is like a deposit, but the special thing is that it will be linked to the person’s Savings or Current Account, which will enable you to withdraw easily with the help of this account at the time of need.
SBI Multi Option Deposit Scheme
With this new scheme of SBI, you will not have any problem breaking the FD and withdraw the money before time. Apart from this, another advantage of this scheme is that after withdrawing the money from the SBI Multi Option Deposit Scheme, interest will be provided on the remaining amount in the FD at the same rate fixed for FD. The interest will be provided as much as provided on the other SBI FDs.
The initial condition of this scheme is that the in the Multi Option Deposit, you have to deposit a minimum amount of Rs. 10,000. While there is no maximum limit for depositing in it.
Important Things About SBI Multi Option Deposit Scheme
- If you are willing to avail the benefits of SBI Multi Option Deposit Scheme, then you can apply online for this scheme and start depositing in it.
- Apart from this you can also avail the benefit of this scheme by contacting the nearest branch of SBI.
- The deposit time period for SBI MOD Scheme is from 1 year to 5 years.