What is MOD Balance in SBI

MOD stands for “Multi Option Deposit” Scheme is a term deposit linked to a saving account or current account. In this article, we will see the details about what is MOD balance in SBI and how to check it in SBI.

If you have a Fixed deposit you can not withdraw the amount anytime, for this to happen you need to pay pre-closure charges, and then only you can withdraw your amount.

However, in the MOD scheme you can liquidate your money anytime you need funds. you can withdraw from a MODS account in multiples of 1000 as per your requirement. The remaining amount in your MODS account will continue to earn the Term Deposit rates applicable at the time of initial deposit.

Read Also How to Open SBI MOD Account

Eligibility Criteria to open MOD Account

The criteria are the same for SBI MOD as it is for Fixed deposits. It is available for all people residing in India. This deposit may also be available to companies, local bodies, and any government departments.

Features of SBI Multi Option Deposit

Account TypeDetails
Type of AccountTerm Deposit (TD) account and Special Term Deposit(STD) account
TenureThe minimum period of deposit is for 1 year

The maximum period of deposit is for 5 years
AmountMinimum Term Deposit Amount for MOD Creation is Rs. 10,000.if further deposits are made it should be in multiples of Rs. 1,000.

Maximum Term Deposit Amount for MOD Creation is of No Limit i.e.you can deposit any amount.
Rate of InterestThe minimum interest rate earned on MOD is 2.90% per annum

The maximum interest rate earned on MOD is 5.40% per annum.

The interest rate for senior citizens varies from a minimum of 3.40% per annum to 6.20% per annum.
The interest varies from time to time.
NominationA nomination facility is available for this deposit.
Loan FacilityA loan facility is available against the balance in your account.
TransferabilityThe MOD account can be transferred from one branch to another.
TDSTax can be deducted at the source if the interest earned on the deposit is more than Rs.10,000 during the financial year, according to SBI.
Read Also How to Set UPI Transaction Limit in SBI?

Multi Option Deposit(MOD) Interest Rate

The interest rate for MOD for the year 2020 is the same as the Regular SBI FD rates for deposits below 2 crores.

TenureInterest Rate P.a. (Public)Interest Rate P.a. (Senior citizens)
7 days to 45 days2.90%3.40%
46 days to 179 days3.90%4.40%
180 days to 210 days4.40%4.90%
211 days to less than 1 year4.40%4.90%
1 year to less than 2 year4.90%5.40%
2 years to less than 3 years5.10%5.60%
3 years to less than 5 years5.30%5.80%
5 years and up to 10 years5.40%6.20%

NOTE-The interest rates have been revised with effect from from 10 September 2020

How to Check MOD Balance in SBI

There are mainly two ways you can check MOD balance in SBI.

  • Through YONO LITE SBI App
  • Through SBI Internet Banking

1-How to check MOD balance in SBI using Yono Lite App

  • Log in with your internet banking user name & password.
  • After logging in click on My accounts options.
  • Under My Accounts click on Account Summary option.
  • Under Accounts Summary click on Deposit Accounts
  • You can check all the MOD accounts and their balance here.

2-How to check MOD balance in SBI using Internet Banking

  • Log in with your User name and Password.
  • Click on Account Summary Option.
  • On the New screen under Deposit Accounts you can see all MOD accounts.
  • Tap on Click here for balance and you can check balance for each MOD accounts.

How to transfer SBI MOD Balance to Saving Account

SBI Customers can transfer MOD account money to saving/current account. you can partially break the SBI MOD account and transfer that money to the SBI saving account.

Mentioned below are the steps you can follow to transfer MOD balance to your saving account.

  • After log in click on Fixed Deposit Section.
  • Under Fixed Deposit section click on Partial Closure of MOD Accounts.
  • On the Next page Enter the amount you want to transfer back to your saving account and click on submit.
  • Check your details once again, if all are correct click on button Confirm.

By following the above process you have successfully transferred the MOD amount to your saving account which can be withdrawn anytime. The remaining MOD amount will keep earning the applicable interest rate.


1-What is tenure for MODs?

Minimum 1 year and maximum 5 years.

2-What is Auto sweep in SBI w.r.t to MOD?

Auto-sweep (Rs. 10000) takes place only after the linked savings account/Current account has a minimum balance of Rs. 35000.

3-Can I add a new nominee online?

No, you need to visit your branch to add a new nominee.

4-Can I Open and close MOD account prematurely?

yes, You can close it online. you can use the ”Close A/c Prematurely” tab under the e-TDR/e-STDR (MOD) Multi Option Deposit link which will close your MOD account instantly if request is initiated between 08:00 AM IST and 08:00 PM IST.

5-Do I have to maintain monthly balance in my saving bank account linked to MOD?

yes, you to maintain the monthly average balance in the linked savings bank account. Whenever there is a shortfall in the balance, the system will break the MOD to the extent required to maintain a minimum level and credit the proceeds to the SB account.

6-Can I withdraw full amount from MOD account?

Keep Rs. 10000 in your account as this is the minimum amount needed to open a MOD account. Rest can be withdrawn.

7-Which is better TDR or STDR in SBI?

TDR is a term deposit and STDR is a special term deposit. In TDR the interest is paid at regular intervals whereas in STDR interest is paid only at the time of maturity.

8-Can Senior citizens avail additional rate of interest on MOD accounts?

Yes, senior citizens avail additional rate of interest on MOD account. The date of birth in the Bank’s record will be considered for age calculation.

9-Can I generate an MOD account advice?

Yes, you can generate and print an MOD account advice containing all the relevant details.

10-What is the minimum amount for MOD scheme?

The minimum amount is Rs.10000 for this deposit although there is no limit for maximum amount.

11-What is MOD in SBI account?

The MOD (Multiple option Deposit) account is a combination of your transaction (debit) account and deposit account.

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