The SBI Multi Option Deposit (MOD) is a term deposit linked to your savings or current account. It allows partial withdrawals in multiples of ₹1,000 while the remainder continues earning term-deposit interest. Interest rates are similar to SBI’s regular FDs. Key features are summarised below.
| Feature | Description |
|---|---|
| Tenure | 1–5 years |
| Minimum deposit | ₹10,000 and in multiples of ₹1,000 |
| Interest rate | Same as SBI term deposits for corresponding tenure |
| Withdrawal | Partial withdrawal allowed in multiples of ₹1,000 |
| Loan facility | Overdraft/loan available against deposit |
The MOD is ideal if you want high liquidity without sacrificing FD returns. Nomination and tax deduction facilities apply as in regular term deposits.
