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.

You can create a MODS Account through OnlineSBI or by visiting your nearest branch.

Minimum Term Deposit Amount for MOD Creation
  • Rs. 10,000/- (in multiple of Rs. 1,000/- each thereafter.

Maximum Term Deposit Amount for MOD Creation
  • No Limit

Rate of Interest
  • As applicable to Term Deposits.

  • Minimum tenor is 1 years and maximum is 5 years.

Premature withdrawal
  • Allowed and for this, rules for TDR/STDR is applicable.

Tax Deducted at Source
  • Applicable

Loan facility
  • Available. Further breaking of units when lien is marked on a particular account is not allowed.

Nomination facility
  • Available

Most Important Terms & Conditions
  • Combination of SB account & TDR / STDR.

  • The customer has to maintain MAB in linked Savings Bank Account. The system does not break MOD to do so.

  • Deposits are completely liquid

  • Withdrawals in multiples of Rs. 1000/-.

  • Flexibility in Period of Term Deposit 1 Yr. to 5 Yrs.

  • Nomination facility available.