Fixed deposits are one of the safest investment options in India. Banks like Axis, PNB, SBI offer a variety of fixed deposit schemes for their customers across the country. Let’s take a look at how you can withdraw your FD funds from ATMs easily with this SBI FD scheme!
The name of this scheme is MOD (multi-option deposit scheme). Investors can invest a minimum of Rs 10,000 in the MOD (Multi Option Deposit) FD scheme and you can invest the amount easily in the bank by opening an account. You will receive the same interest rate offered by the bank on its other FD schemes. There is no cap on the upper limit of the investment. The interest is then credited to your Multi Option Deposit Account.
You can also break your FDs from home using the mobile app and then withdraw the money from ATM. This scheme is applicable for all Indians and NRIs.
The latest rates for SBI MOD are:
|Tenure||Interest Rate p.a. (General Public)||Interest Rate p.a. (Senior Citizen)|
|7 to 45 days||2.90%||3.40%|
|46 to 179 days||3.90%||4.40%|
|180 to 210 days||4.40%||4.90%|
|211 to less than 1 year||4.40%||4.90%|
|1 year to less than 2 years||5.00%||5.50%|
|2 years to less than 3 years||5.10%||5.60%|
|3 years to less than 5 years||5.30%||5.80%|
|5 years to up to 10 years||5.40%||6.20%|
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