New Delhi: Fixed deposit scheme offered by banks are one of the safest investment options that are suitable for people with low risk appetide on investments. The country's largest state-owned lender, the State Bank of India (SBI), offers various fixed deposit schemes to its millions of customers across the country. However, SBI's special FD plan --SBI Multi Option Deposit (MOD) scheme -- is one such special SBI FD scheme, the banks allow investors to withdraw money whenever they want cheque or ATMs or INB.


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Deposits are completely liquid and can be withdrawn in multiples of Rs. 1000, any number of times through cheque, ATMs, INB in the SBI Multi Option Deposit (MOD) scheme.


"SBI Multi Option Deposit Scheme (MODS) are Term Deposits linked to the Savings or Current Account (individual). Unlike normal Term Deposits which are fully liquidated anytime you need funds; you can withdraw from a MODS account in multiples of 1000 as per your fund need. The balance amount in your MODS account will continue to earn the Term Deposit rates applicable at time of initial deposit," says SBI website.


Investors can invest a minimum of Rs 10,000 in the Multi Option Deposit FD scheme, and thereafter in multiples of Rs 1,000. Investment in the scheme is also very easy as you can open an account by visiting any nearby SBI branch. 


The Tenor of deposits for 1 to 5 years. Investors receive the same interest rate offered by the bank on its other fixed deposit scheme. There is no cap on the upper limit of the investment. The interest is credited to your Multi Option Deposit account.