SBI MODS

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SBI Multi Option Deposits
  • Features

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.

Features

  • These are combination of Term Deposits/Special Term Deposits with linked Savings Bank/ Current Accounts.
  • Deposits are completely liquid and can be withdrawn in multiples of Rs. 1000, any number of times through cheque/ATMs/INB.
  • Tenor of deposits for 1 to 5 years.
  • TDS is applicable at prevalent rate.
  • Nomination facility is available.
  • Provision of MODs are also available through auto sweep facility in Savings Plus accounts.
  • For ‘auto sweep’ facility, the Minimum Threshold Balance & Minimum Resultant Balance should be Rs 35,000/-and Rs. 25,000/- respectively.  inimum Sweep amount of Rs. 10,000/- in multiples of Rs.1000/-.
  • It is to be noted that the above restriction on Threshold Limit will apply only for availing auto sweep facility and the individual Stand – Alone MOD  an continue to be opened by the customers including e-MOD with a minimum of Rs.10,000/- irrespective of the Threshold Level. Additional Rate of interest applicable to Senior Citizens is payable.
  • Maintaining AMB (Average Monthly Balance) is applicable on linked Savings Bank/Current Account.

Last Updated On : Wednesday, 17-08-2022

Interest Rates

7.00%

2 years to less than 3 year

6.50%

5 years and up to 10 years

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