Query on interest calculation of SBI’s Multi Option Deposit

[samkapoor77]

Before I make up my mind to open a multi option deposit account, I want to be clear on certain aspects. Let us say that on first day of the year, I opened MOD for Rs. 2 lakhs and I withdraw Rs. 1, 00,000, Rs. 60,000 and Rs. 40,000 at the end of every quarter. Then how the bank will calculate interest on this premature deposit? Will it be done after every quarter or after every transaction or last transaction or every completion of one year? Please reply

[Sameer Kapoor]

You can find answers to all your queries on the link http://www.onlinesbi.com/sbijava/osbi_etdr_mod_faq.html

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