Multi option deposit Interest calculation in SBI bank

POSTED BY prasanthv ON April 11, 2014 1:51 pm ONE COMMENT

Lets say , I opened a MOD (100000/-)in SBI on Jan 1 , 2013 for 1 year.

I withdrawn 50000/- on 28 of march 2013(after 3 months).
I withdrawn 30000/- on 30 of june 2013(after 6 months).
I withdrawn 20000/- on 30 of september 2013(after 9 months).

Amount in first 3 month , 100000/-
Amount in 4-6 months, 50000/-
Amount in 7-9 months,20000/-
Amount in 10-12 months,0/-

How will they calculate interest for this premature MOD? When will the interest credited back to my Savings account(only after one year from the date of joining or after 9 months or after each transaction from MOD account)?

One reply on this article “Multi option deposit Interest calculation in SBI bank”

  1. ashalanshu says:

    Dear Prasanth, please read this.

    https://www.onlinesbi.com/sbijava/osbi_etdr_mod_faq.html

    Thanks

    Ashal

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