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what is the interest rate of monthly income scheme in sbi
In Car Loans  -  Asked by pankaj sanghi -  4 years ago

Best Answer:
SBI offers recurring deposit scheme in this you can save a little every month which you can withdraw at the time of your financial need. On this bank you get same interest rate as on term deposit rate so you can choose the amount you wish to invest and the maturity period. Bank provides Flexibility in period of deposit with maturity ranging from 12 months to 120 months. Low minimum monthly deposit amount. You can start a Recurring Deposit with SBI for a monthly installment of Rs.100/- only. In this scheme you get more benefits like easy transfer of your account between banks branches, loan/overdraft facility, nomination facility, free fund transfer.
4 years ago - By Anu

Other Answers (2)
show:
Answer 1.
I think you can invest in fixed deposit in this you can can convert your special Term Deposit to a Term Deposit to receive monthly/quarterly interest payments to match your financial requirements. Quarterly interest at calendar quarter is also available.
4 years ago - By Jonny
Answer 2.
SBI offers more schemes like SBI MODs, Annuity deposit scheme and SBI Flexi deposit scheme. You can check the details of these schemes of bank website: http://www.statebankofindia.com/user.htm.
4 years ago - By Dinki
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