SBI Multi Option Deposit Scheme (MODS)

SBI Multi Deposit Scheme (MODS) is one such financial product in which your or another individual's term deposit account is linked to a savings or current account. You can withdraw the funds fully or partially, whenever required, and the remaining balance in your MODS account will keep earning the interest rate decided initially.

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How Does SBI Multi-Option Deposits (MODS) Work?

The SBI Multi-Option Deposit Scheme (MODS) is designed to provide flexibility and liquidity to depositors. Unlike traditional fixed deposits, which require complete liquidation for withdrawals. The MOD scheme permits partial withdrawals in multiples of ₹5,000 while the remaining balance continues to earn interest. This feature makes it an attractive option for those who may need access to their funds before the maturity date.

Partial Withdrawals: Withdrawals can be made in multiples of ₹5,000.
Interest Earnings: The remaining balance continues to earn interest at the rate applicable at the time of the initial deposit.
Linked Accounts: Must be connected to an SBI savings account or current account.

SBI Multi Option Deposit Interest Rates

The SBI Interest Rate are competitive and vary based on the tenure of the deposit. As of December 15, 2025, the rates are as follows:

Tenor	General Citizen	Senior Citizen
7 days to 45 days	3.05	3.55
46 days to 179 days	4.90	5.40
180 days to 210 days	5.65	6.15
211 days to less than 1 year	5.90	6.40
1 Year to less than 2 years	6.25	6.75
2 years to less than 3 years	6.40	6.90
3 years to less than 5 years	6.30	6.80
5 years and up to 10 years	6.05	7.05

SBI Multi-Option Deposit Interest Rates w.e.f December 15, 2025. These rates are subject to change based on market conditions and bank policies.

Eligibility Criteria for SBI Multi Option Details

The eligibility criteria for opening an SBI MOD account are inclusive and cater to a wide range of individuals and entities:

Resident Individuals (single or jointly)
Minors (under guardian's name)
Hindu Undivided Families (HUF)
Firms and companies.
Government Departments

Features of the SBI Multi Option Deposit (MOD) Scheme

The SBI MOD scheme comes with several beneficial features:

Combination of Accounts: The MOD scheme combines term deposits or special term deposits with linked savings bank or current accounts, providing seamless access to funds.
Complete Liquidity: Depositors can withdraw funds in multiples of ₹5,000 at any time using cheques, ATMs, or Internet Banking, ensuring high liquidity.
Minimum Deposit: A minimum initial deposit of ₹10,000 is required, with subsequent deposits in multiples of ₹1,000.
Flexible Tenure: Deposit tenures range from 1 to 5 years.
Auto Sweep Facility: The MOD scheme is available through an SBI sweep-in FD facility in savings plus accounts.
Minimum Threshold Requirements: For the auto sweep facility, a minimum threshold balance of ₹50,000 and a minimum resultant balance of ₹35,000 are required. The minimum sweep amount is ₹15,000 in multiples of ₹5,000.
Stand-Alone MODs: Customers can still open individual Stand-Alone MODs or e-MODs with a minimum deposit of ₹10,000, regardless of the threshold limits for auto sweep.
Additional Interest for Seniors: Additional SBI Senior citizens FD interest rates are applicable that enhance their earning potential.
Average Monthly Balance (AMB): Maintaining an average monthly balance is required for linked savings bank or current accounts associated with the MOD scheme.
Nomination Facility: Depositors can nominate beneficiaries for their accounts.
Loan Against FD: Customers can avail an SBI loan against FD.
Tax Deduction at Source (TDS): Tax Deductible at Source is applicable as per Income Tax Rules.

How to Apply for the SBI MOD Scheme?

The SBI Multi Option Deposit account can be easily opened online or offline, by following these easy steps:

Online Application Process:

Step 1: Visit the official SBI website or use the SBI mobile app.

Step 2: Navigate to the Fixed Deposit section.

Step 3: Select "e-TDR/e-STDR" under the MOD menu.

Step 4: Fill in your details, including your debit account number and tenure.

Step 5: Submit your application and confirm your request.
Offline Application Process:

Step 1: Visit your nearest SBI branch.

Step 2: Request an application form for the MOD scheme.

Step 3: Fill out the form with the required details and submit it along with the necessary documents.

Conclusion

The SBI Multi-Option Deposit Scheme is a safe investment option offered by India’s largest public sector bank. It is a suitable option for individuals seeking a flexible financial vehicle that combines the benefits of fixed deposits with easy access to funds. With competitive SBI FD interest rates, minimal deposit requirements, and a host of features designed for convenience, the SBI MOD scheme caters well to both short-term liquidity needs and long-term savings goals.

FAQs

What is a Multi Option Deposit in SBI?

The Multi-Option Deposit (MODS) in SBI is a term deposit scheme linked to a savings or current account. It allows depositors to withdraw funds in multiples of ₹5,000 without needing to close the entire deposit.
What are the benefits of MOD balance in SBI?
There are many benefits of MOD Balance in SBI:
- Liquidity and partial withdrawals
- Continued interest earnings
- Automatic transfer
- Emergency fund access
- Higher interest rates
- Flexibility
Which is better, MOD or FD in SBI?

The choice between MOD and FD depends on individual needs. MOD offers more flexibility with partial withdrawals and liquidity, making it suitable for those who may need access to their funds. Traditional FDs generally provide higher interest rates but lack the same level of access without penalties.
What is the penalty for a MOD account in SBI?

For premature withdrawal from an SBI MOD account, a penalty applies: 0.50% for deposits up to ₹5 lakh and 1% for deposits between ₹5 lakh and ₹1 crore. No interest is paid on deposits held for less than seven days.
How to apply for MOD at SBI?

You can apply for an SBI MOD account online or offline. Online, log into the SBI portal or app, go to the FD section, select e-TDR/e-STDR under the MOD menu, fill in your details, and submit your request. Offline, visit an SBI branch, request an application form, fill it out, and submit it with the necessary documents.
What are the disadvantages of an SBI MOD account?

Some disadvantages of an SBI MOD account include lower interest rates compared to other standard FD interest rates, potential penalties for premature withdrawal, and the requirement to maintain linked savings or current accounts with an Average Monthly Balance (AMB).