New scheme for customers coming to SBI, read the account holder

New scheme for customers coming to SBI, read the account holder

new Delhi. If you are an account customer in SBI too, then this news is for you. It is easy to get rid of deposited money in fixed deposit (FD) in the bank without breaking it anymore. Till now, the FD had to be withdrawn only by breaking the money, but now as a new scheme of SBI, you can withdraw your money whenever you want without any break and you will get interest on it as well.

Interest will be paid on withdrawal
The country’s largest bank, State Bank of India (SBI), has come up with a new scheme, which will greatly benefit the customers. Under this scheme, you can withdraw as much money as you want from FD and you will get normal interest on the remaining money.

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10 thousand FDs to be done
The name of this scheme of SBI is called the Multi Option Deposit (MOD). Under this scheme, when you make a FD, you can withdraw money later, but keep in mind that the money will be available in multiple of 1000. To open this FD, at least Rs. 10,000 will be given. MOD FD can be made for a minimum of one year and for a maximum of five years.

Such works work
You can withdraw money because of the FD made from the MOD scheme because it is linked to the Savings or Current Account. Therefore, if there is no money in these two accounts, then you can withdraw money from MOD i.e. FD as per the requirement. Interest will be paid on the remaining money, according to the interest rate. However, the customer will have to maintain minimum balance in the linked account with MOD.

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