SBI FD Scheme: Withdraw money from this FD whenever you want, will not charge, know here...


FDs in India has long been a better option for investment. After the Kovid period, interest rates have started increasing once again, so investors are again turning to FD. But along with many advantages of FD, it also has a big disadvantage. That is, you cannot withdraw money from FD prematurely. If you want to break the FD, the bank will levy a penalty. But do you know that there are some special schemes in which even if the FD is broken prematurely, there is no penalty? Here we will give you information about one such FD scheme of SBI.


SBI Multi Option Deposit Scheme
The country's largest bank State Bank of India (SBI) offers a special FD scheme. This is Multi Option Deposit Scheme. It is also known as SBI MODS. If you invest in this FD scheme and want to withdraw money prematurely, then no charge will be taken from you.

Know the details of the scheme
Before investing in SBI's Multi Option Deposit Scheme, you should take this information. This is a fixed deposit ie FD scheme. The important thing is that the FD will be directly linked to your savings and current accounts. Being quite different from a normal FD, you can withdraw money from it anytime at your convenience. You can deposit money in it anytime at your convenience.

What is the interest rate?
SBI in its multi-option deposit scheme gives investors almost the same interest as a normal FD. Like normal FD, senior citizens get half a percent more interest in this too.

What will be the duration?
SBI invests in its multi-option deposit scheme with tenures ranging from one year to five years. You can choose any duration at your convenience.


Withdraw money like this
The amount invested under SBI's Multi Option Deposit Scheme can be withdrawn any number of times in multiples of 1000. The bank has not fixed any limit for this. How you can withdraw your money include ATM, check book, and branch withdrawal.

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