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What is the intrest rate on fixed deposit
And monthly income scheme in fixed deposit on FD
teel me full detail of monthly income rate on fixed deposit and detail of SBI monthly income scheme
In Fixed Deposits  -  Asked by Prateek Sharma -  5 years ago

Best Answer:
You can open fixed deposit account with SBI for a nominal amount of Rs.1000/- only. You get flexibility in choosing the amount you wish to invest and the maturity period. You can avail a loan/overdraft against your deposit. SBI provides you loan / overdraft up to 90% of your deposit amount at nominal cost. So you continue to earn interest in your deposit and still can meet your urgent financial requirements. Interest to be charged on premature withdrawal of term deposits at 1.00% below the rate applicable for the period deposit has remained with the Bank.
To get monthly/quarterly interest payments to match your financial requirements you can link your fixed deposit with saving account under MOD scheme.
5 years ago - By Aman

Other Answers (3)
Answer 1.
All the schemes of banks are beneficial but there is a limit after which you have to pay tax so before investing read terms and conditions of the schemes so that you don't end up paying high tax.
5 years ago - By Mitu
Answer 2.
The Multi Option Deposit (MOD) Account is a combination of Savings Bank or Current Account with Term/ Special Term Deposit Accounts, so that one can securely write cheques upto the balance in the MOD account or upto the drawing power available as overdraft in the Current account.Withdrawals through ATMs can also be conveniently made.At the time of need for funds, 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. Additional interest can be earned by routing your interest receivables from Term Deposit to your Savings Bank Account.
5 years ago - By Shakshi
Answer 3.
Interest rate on fix deposit -SBI(yearly)
1 year to less than 2 years 6.25 1 year to less than 2 years 6.00
2 year to less than 3 years 6.75 2 year to less than 3 6.50
3 year to less than 5 years 7.00

For monthly mode,contact bank.
Monthly income Plan (MIP)available from mutual Fund.Not Guaranteed.Div. is tax free.

SBI Magnum Monthly Income Plan-Dividend-Annually 11.2424 11.1300 11.2424 22-Jul-2010
SBI Magnum Monthly Income Plan-Dividend-Monthly 10.6546 10.5481 10.6546 22-Jul-2010
SBI Magnum Monthly Income Plan-Dividend-Quaterly 10.4034 10.2994 10.4034 22-Jul-2010
SBI Magnum Monthly Income Plan - Growth 19.6025 19.4065 19.6025 22-Jul-2010
5 years ago - By Rajesh
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