MULTI OPTION DEPOSIT (MOD) - Customer Care

MOD (Multi Option Deposit) accounts are Term Deposits which are linked to transactional Accounts. Unlike normal Term Deposits which are fully liquidated anytime you need funds; one can withdraw funds from MODS at the time of need. Such withdrawal can be made in multiples of Rs.1,000/- by issuing a cheque from Savings Bank Account or from ATM / branch or through any other channel. The balance amount in MODS will continue to earn interest at the rate applicable at the time of initial deposit. The sum of available balance in the transactional account and MOD balance can be used for issuing cheques or withdrawal or making any other payment.

Minimum 1 year, maximum 5 years.

The interest rates vary from time to time. You can view the latest interest rates by clicking on "View current interest rate" link provided in e-TDR/e-STDR (MOD) request page.

You can open a MOD account with a minimum amount of Rs. 10,000 with increments in multiple of Rs. 1000. However minimum and maximum amount limit may vary for different product codes.

Yes, you can generate and print an MOD account advice containing all the relevant details , Post login >> My Accounts >> Account Summary >> Deposit Account>> click on MOD account >> Download.

The name(s) and mode of operation and branch of newly generated MOD a/c will be same as in debit a/c, from which the MOD a/c is funded.

The maturity amount is based on the tenor and type of a/c selected by you. You may enquire the maturity amount, maturity date and rate of interest, without opening e-TDR/e-STDR(MOD) through "Enquiry" tab available in e-TDR/e-STDR(MOD) page in Onlinesbi.

You can debit a savings account to open MODs. The account selected for debiting should be a valid transactional a/c through SBI YONO Lite channel and should not be a stopped / dormant / locked account.

No.

No, maturity amount or the amount payable before maturity, will be transferred only to the debit account from which it was funded.

Yes, senior citizens can avail additional rate of interest in e-TDR/e-STDR (MOD). The date of birth in Bank's record will be considered for age calculation. The minimum days and minimum amount applicable for additional rate of interest for senior citizens will be as per Bank's discretion. In case of joint accounts, the senior citizen benefit can be availed only if the first account holder qualifies for this benefit.

While opening an e-TDR/e-STDR(MOD), you will be provided with an option to retain the same nominee(s) for MOD a/c as appearing in your debit a/c from which the MOD is funded. Customer can also add a new nominee.

Yes, you can add a new nominee through YONO Lite by clicking on ‘Services’ Tab>>’Online Nomination’ option.

Yes. e-TDR / e-STDR (MOD) can be created online from 8:00 AM IST to 8:00 PM IST. Requests initiated beyond this period will be scheduled for the next opening hours.