The State Bank of India Multi Option Schemes(MODS) are linked to saving and current accounts (individual). Other normal term deposits are liquidated anytime you need fund but in case of SBI MODS you can withdraw multiples of Rs 1000 as per your fund requirements.
Features
| Minimum Term Deposit |
Minimum Tem Deposit of Rs 10,000 (in multiples of Rs 1000 each thereafter) |
| Maximum Term Deposit |
There no limit for the maximum term deposit |
| Rate of Interest |
(as applicable to Term Deposit) |
| Tenure |
The minimum tenure of the deposit is 1 year and the maximum tenure is 5 years. |
| Premature Withdrawal |
Premature Withdrawal are allowed to make for SBI MODS. |
| Tax Deducted at Source (TDS) |
Applicable |
| Loan Facility |
Not Available |
| Nomination Facility |
Available |
Terms and Conditions
- There is a combination of SB account and TDR/STDR.
- It is a compeletly liquid deposit.
- You can make withdrawals in multiples of Rs 1000.
- A flexible tenure period of 1 year to 5 year is given.
- Nomination facility is available.
