SBI Fixed Deposit: Fixed deposit is considered to be the safest option for investment. Fixed deposits are also not affected by market volatility.
Fixed deposits are considered the safest option for investment. Fixed deposits are also not affected by market volatility.
Today we are telling you about a special scheme of SBI, by investing in which you can earn profit sitting at home and can also withdraw money from the scheme whenever you want.
Know what is SBI’s Multi Option Deposit Scheme
State Bank of India (SBI) runs an FD scheme by the name of a Multi Option Deposit (MOD) scheme. Investing in this scheme is very easy. In this scheme, you can deposit money in multiples of Rs 1,000 and you can also withdraw money from this scheme in multiples of Rs 1,000.
The same interest is available on SBI’s C scheme as it is available on other schemes of SBI. In Multi Option Deposit (MOD) scheme, you can open an FD account with a minimum investment of Rs 10,000.
After opening the account, you can deposit money in this scheme in multiples of Rs 1,000 and there is no maximum investment limit in this scheme.
You can also withdraw money from ATM
With the Multi Option Deposit (MOD) scheme, you can also withdraw money from ATMs, as this scheme is linked to your current or savings account. When you withdraw some money from this scheme, you will be given the benefit of interest on what is left in the account.
If you need some money in this scheme, then you will not even have to break your FD and you can also withdraw some money from this scheme if needed.
If you want to break this FD, then you do not even need to go to the bank for this. You can break this FD sitting at home and withdraw money through ATM.
