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in fixed deposit can i get monthly interest for that deposit in my hand every month? is it possible?
for example if i deposit 5lac in fd, can i get interest for that 5lac from the next month of deposit from bank in my hand.
In Fixed Deposits  -  Asked by sujatha -  5 years ago

Best Answer:
Some banks have special deposit scheme in which you can earn monthly/quarterly interest payments to match your financial requirements. SBI gives flexibility to 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.
5 years ago - By Mitu

Other Answers (2)
Answer 1.
Fixed deposit is best investment option to earn high interest if you invest in tax saving scheme then you can not change to special scheme to earn monthly interest.
5 years ago - By Ronak
Answer 2.
SBI has MOD scheme in this withdrawals can be made in units of Rs.1,000/- from the Deposits by issuing a cheque from Savings Bank Account or through overdraft facility from Current account. Flexibility in period of Term Deposit from 1 year to 5 years. You can open a MOD account with SBI for a minimum amount of Rs. 10,000/- only.
# A Term Deposit (Interest paid monthly or quarterly) under MOD is linked with a Savings Bank account permitting to withdraw funds from Term Deposits in units of Rs.1000/- by issuing a cheque on Savings Bank Account
# Additional interest can be earned by routing your interest receivables from Term Deposit to your Savings Bank Account
5 years ago - By Jonty
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